Royal Free London is seeking a proven Finance Director to lead the execution of its highly ambitious agenda of delivering a best in class Group finance shared service function that is efficient, effective and continuously focused on exceeding stakeholder expectations.

The successful candidate will be pivotal to delivering an ongoing portfolio of change-related initiatives that enhance operational processes, governance, reporting, oversight and management of the function. They will need to be provide clear and focused leadership, driving a culture of development and excellence across the organization. Attached candidate briefing document provides more details on our vision, priorities and expectations of this role.

• The Director of Finance role within Royal Free is a pivotal post with the accountability for building a best-in-class Group Finance function focused on delivering all financial operational targets and continuously striving to exceed customer expectations. Central to the success of this role is building a culture of high performance, continuous improvement and getting the basics right, whilst operating in a financially challenged and evolving organization.
• The Finance Director post provides leadership for the Group shared service function, providing a core finance service to our local sites and our corporate services teams, encompassing all operational finance activities including financial planning & reporting, corporate finance, financial control, financial performance improvement & development, financial management and partnering.
• The post will be responsible for delivering a high quality, effective, professional and efficient service across the organization including provision of quality financial and performance information to our healthcare colleagues.

The post holder will ensure that the Trust receives high quality financial services, including ensuring the maintenance of robust financial controls and systems, rigorous working capital, cash flow management and effective financial reports of historic and prospective financial performance information. The post holder is also responsible for ensuring the Trust obtains best value for money from its financial systems and services and provides professional support to all financial services and control departments. The post holder will deputize for the Group Chief Finance Officer as appropriate.

Strategic Responsibilities

• Provide the financial framework and guidelines for the Trust’s annual plans and ensure it is consistent with the long-term strategy and objectives.
• Lead and enhance a value-adding budget setting and financial planning process for the Trust, leveraging best practice and automation where beneficial.
• Develop a clear insight into the key challenges across the Group and work to ensure that financial reporting is best in class, allowing business units and Group directors to monitor trends and areas of concern or strategic importance. Work with the Group Chief Finance Officer to develop and implement in-year financial strategies necessary to meet the Trust’s financial requirements.
• Provide effective financial management and control systems so the Trust meets its statutory financial duties which includes managing the Trust’s revenue and capital limits through the control of cash, current assets and liabilities.
• Provide valuable KPIs and insight to the Trust in delivery of key plans and objectives.
• Manage and report on the Trust compliance with the Public Sector Payments Policy (PSPP). Actively manage performance in line with PSPP requirements by identifying and implementing strategies to continuously improve compliance and consider the value of alternative delivery models.
• Maintain stringent liquidity controls through effective long term cash management.
• Proactively develop and implement strategies to improve and optimize the effectiveness of the Group Shared Service function.
• Focus on improving processes and controls with clear lines of ownership, schedule of activities and cadence for monitoring performance against target.
• Lead a portfolio of change initiatives targeting areas requiring improvement. Evaluate and recommend strategic options to deliver improved operational financial performance.

Operational Responsibilities

• Provide appropriate and timely financial information and advice to the financial performance leads, Board members and clinicians of the Trust so as to enable them to fulfil their responsibilities and to report externally as required. This includes the oversight of the production of the financial performance report to the Executive and Trust Board monthly.
• In partnership with the Group CFO, establish key operational departmental targets and ensure delivery to these targets with regular monthly reporting and tracking against performance. Diligently drive performance against these targets by actively solving problems and removing obstacles preventing compliance.
• Produce the Trust annual financial plan and ensure budget plans are consistent with the overall plan and are achievable.
• Ensure the financial and other systems of the Trust are maintained and supported effectively to meet the requirements of the Trust including all relevant statutory requirements.
• Assure the quality of the Group’s financial forecasts based on Business Units and Corporate Directorates performance, plans and the Trust’s longer term financial prospects.
• Maintain and improve day to day operating processes, strengthen systems and processes and ensure that there is appropriate evidence that they are working effectively.
• Act as lead for relevant audit and national initiatives as agreed with the Group Chief Finance Officer.
• Provide direction and focus on legacy balances and disputes. Work collaboratively with suppliers and providers to resolve outstanding credit and debt.
• Drive best practice processes across the finance function implementing controls to ensure high quality, timely and accurate provision of information.
• Proactively manage all outsourced relationships impacting finance operations including NHS Shared Business Services and Procurement services.
• Drive collaboration and strong working relationships to deliver efficiencies, improvement and quality outputs.

Financial Governance & Control Responsibilities

• Develop and implement appropriate policies and procedures (including Standing Financial Instructions) to maintain robust financial governance and control. This includes Trust-wide financial policies and procedures relating to all aspects of financial services
• Accountable for establishing and managing the financial performance framework for the Trust, responsible for governance and oversight of Group and business unit financial performance.
• Ensure accurate, timely and satisfactory completion of statutory accounts and other compliance returns.
• Ensure the Trust complies with all statutory financial and other requirements within prescribed timelines (e.g., VAT and HMRC).
• Ensure the Trust’s cash flow and working capital position is adequately forecast and monitored.
• Co-ordinate responses to internal and external audit reports, both financial and non-financial; and maintain a database of all recommendations ensuring that they are actioned within the Trust.
• Lead the incorporation of audit recommendations for the finance function, best practice and governance requirements into key processes and procedures whilst maintaining efficient and effective processes.
• Oversee and co-ordinate any system of internal trading and charging.

Development & Continuous Improvement Responsibilities

• Promote and develop a culture of improvement across the finance directorate. Build a team of high performers through inspiring leadership, coaching and embedding the directorates standards and values.
• Continually develop and refine the Trust’s approach to financial control and financial services, developing financial systems within the Trust to meet the changing needs of the Trust.
• Key member of the senior Finance team, participating in developing and delivering the Trusts overall financial strategy including working with a significant level of autonomy and applying high level analytical skills and judgements in decision making.
• Visible and influential at director level within the Group, with a strong customer-focus and yet competent at achieving a balance of support and challenge.
• Contribute towards the overall development of the Finance Directorate.
• Identify ways in which the Trust’s approach to financial reporting and control can be improved and strengthened.

Line Management Responsibilities

• Expert prioritization skills, leading across large remit and competing priorities, delegating whilst ensuring delivery and with strong forward planning and communication capability. Operate fluidly in a dynamic environment, utilizing foresight and experience to set clear direction.
• Provide professional advice, training and support to senior Finance staff.
• Develop and sustain professional standards within the Finance Directorate.
• Lead on the development of Finance staff and co-ordination of finance education and training requirements through the implementation of the financial staff development initiatives.
• Ensure the provision of training courses for all non-Finance managers within the Trust which enables them to carry out their duties as budget holders and take responsibility and ownership of the finances in the organization.
• Participate actively in external Finance Manager training and accreditation schemes.
• Manage and develop members of the Finance team to ensure they have the skills and knowledge necessary to perform their roles.
• Ensure that all staff have current objectives and that they are assessed through the appraisal process, with appropriate performance management actions to address issues in performance. Ensure all staff have personal development plans.

General Responsibilities – Infection Control

Infection control is everyone’s responsibility. All staff, both clinical and non-clinical, are required to adhere to the Trust’s Infection Prevention and Control policies and procedures and the Health Act (2006) Code of Practice for the prevention and control healthcare associated infections and make every effort to maintain high standards of infection control at all times thereby reducing the risk of Healthcare Associated infections. It is the duty of every member of staff to take personal responsibility for the prevention and control of infection, as laid down in the Trust’s policies and procedures which reflect the statutory requirements of the Hygiene Code.

• To work in close collaboration with the Infection Control Team.
• To ensure that monitoring of clinical practice is undertaken at the agreed frequency.
• To ensure that the ward environments are cleaned and maintained to the highest standards;ensuring that shortfalls are rectified or escalate as necessary.
• To ensure that all relevant monitoring data and issues are provided to the Directorate’s Governancestructures.
• To ensure that all staff are released to attend infection control-related educational sessions andstaff with specialist roles, e.g., link practitioners, are released to undertake their duties.

ESSENTIAL

• • Demonstrate Ability to meet Trusts Core Values
  • Knowledge and understanding of diverse backgrounds and perspectives.
  • Understanding of Diversity and Inclusion challenges in the workplace.
  • Demonstrable contribution to advancing Equality, Diversity and Inclusion in the Workplace.
• Education & Professional Qualifications
  • CIMA/ICAEW/ACCA Qualified Accountant with substantial post qualification experience at senior level
  • Evidence of commitment to continuing professional development
  • Educated to degree level and master’s level or equivalent experience
• Experience
  • Demonstrable experience in a large and complex organization, operating at a senior level and working with a Board of Directors.
  • Experience leading change management and process improvement programs
  • Experience in leading and building high performing functions
  • Experience of managing the specification, development and implementation of financial information systems
  • Significant Experience leading finance operations including financial services, financial control and cash flow management.
  • Knowledge of best practice financial management systems and controls
  • Understanding of audit principles, International Accounting Standards and practices
  • Experience in staff appraisals and implementing development schemes
  • Experience in designing and implementing efficient and effective processes
  • Experience in leading a shared service function
• Skills & Aptitude
  • A driven leader, setting own and team’s agenda based on experienced assessment of need and stakeholder priorities.
  • Strategic analytical & judgmental skills
  • An understanding of and commitment to outstanding customer service and delivery and to managing and exceeding stakeholder expectations, managing competently upwards and outwards
  • Well Developed Presentation Skills
  • Excellent time management and prioritization
  • Advanced written and verbal communication skills
  • Ability to communicate effectively with people at all levels of the organization
  • Excellent problem-solving skills
  • Strong leadership, influencing and mentoring skills
  • Strong business partnering and stakeholder management skills

DESIRABLE

• Education & Professional Qualifications
  • Project Management training or certification
• Experience
  • Experience of conducting contract negotiations or dispute resolutions with suppliers or customers
• Skills & Aptitude
  • Project Management skills