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King's College Hospital NHS Foundation Trust is one of the UK's largest and busiest teaching Trusts with a turnover of c£1.8 billion, 1.5 million patient contacts a year and more than 15,000 staff based across 5 main sites in South East London. The Trust provides a full range of local hospital services across its different sites, and specialist services from King's College Hospital (KCH) sites at Denmark Hill in Camberwell and at the Princess Royal University Hospital (PRUH) site in the London Borough of Bromley.
We encourage all our staff to have a healthy work/life balance. In doing so, you can apply for flexible working from the beginning of your employment. We offer a range of options which are designed to suit different circumstances and priorities in line with service requirements.
Job overview
This is an exciting opportunity to join the King's College Hospitals Strategy, Planning and Investment team. The post holder will lead the development and implementation of the Trust's approach to financial strategy and planning, leading the team and the underpinning modelling for both, building on our existing forward-thinking work in this area. They will also lead our continuous financial improvement team and approach, as well as strategic projects.
They will report to the Deputy Chief Financial Officer - Strategy and Improvement and have corporate responsibility for and provide day-to-day leadership of the Financial Strategy and Planning, Continuous Improvement, and Commercial and Legal teams. They will be responsible for providing specialist financial planning advice to the CFO and other Executive and Board colleagues at the Trust, and for supporting the delivery of the Trust's key objectives. The post holder is expected to work as part of a cohesive finance team and, when necessary, to take lead responsibility for Trust-based issues outside of their immediate sphere of responsibility. They will be expected to present financial and business information to large groups, such as the whole Finance function as well as clinical and non-clinical colleagues from outside of Finance.
Main duties of the job
Financial Strategy
• Accountable for developing and delivering strategy, promoting innovation and supporting operational excellence in the Trust. The post holder will work with highly complex data, facts and situations requiring analysis, interpretations and comparisons on a range of options and making decisions on the most appropriate approach.
• Development and maintenance of a strategic financial model, which will enable sensitivity analysis and support the formulation of long-term financial planning.
• To lead the provision of financial input and advice regarding service reconfigurations and major business cases, including challenging and verifying financial assumptions being made in the local health economy to ensure that plans are made on a robust financial basis that maximise value for money.
• To engender a culture of performance management within the Finance Directorate that seeks and finds solutions to financial problems and maximises financial opportunities.
• To review and update year-end projections, taking account of year-to-date performance, underlying trends and corrective actions and ensure income and expenditure and balance sheet/cash projections are consistent.
Working for our organisation
King's College Hospital NHS Foundation Trust is one of the UK's largest and busiest teaching Trusts with a turnover of c£1.8 billion, 1.5 million patient contacts a year and more than 15,000 staff based across South East London. The Trust provides a full range of local and specialist services across its five sites. The trust-wide strategy of Strong Roots, Global Reach is our Vision to be BOLD; Brilliant people, Outstanding care, Leaders in Research, Innovation and Education, Diversity, Equality and Inclusion at the heart of everything we do. By being person-centred, digitally-enabled, and focused on sustainability, we aim to take Team King's to another level.
We are at a pivotal point in our history and we require individuals who are ready to join a highly professional team and make a real, lasting difference to our patients and our people.
King's is committed to delivering Sustainable Healthcare for All via our Green Plan. In line with national Greener NHS ambitions, we have set net zero carbon targets of 2040 for our NHS Carbon Footprint and 2045 for our NHS Carbon Footprint Plus. Everyone's contribution is required in order to meet the goals set out in our Green Plan and we encourage all staff to work responsibly, minimising their contributions to the Trust's carbon emissions, waste and pollution wherever possible.
Detailed job description and main responsibilities
Planning and Organisation
• Accountable for production of the Trust's Strategic Plan and Annual Planning process.
• To complete the annual plan and required NHSE financial and other planning templates and in-year monitoring requirements.
• To develop implementation and performance monitoring of the Trust's business and strategic planning processes to ensure they meet the organisation's objectives.
• To act as lead for strategic projects, ensuring they are delivered against plan and are appropriately resourced.
• To prepare for and contribute to the development of business cases and capital projects as required, providing appropriate financial, technical, environmental and organisational information to inform the process and ensuring projects are appropriately resourced.
• To plan, allocate and direct the activities of the Finance Department in order to achieve deadlines, agreed work plans and service standards.
• To develop and maintain medium-term and long-term financial models and business plans covering three and five-year financial plans to ensure the financial viability of the Trust, taking account of the changing financial regime and areas of uncertainty of income and expenditure.
* To ensure financial support for the development and delivery of the efficiency savings/productivity plans, ensuring these are financially robust, including those schemes which span across the wider Acute Provider Collaborative and South East London System, working with Transformation, PMO and Site Executive colleagues.
• To ensure financial support for the development and delivery of the Trust's capital programme.
• To lead on financial modelling support to the ICB on behalf of the Trust.
• To develop of the annual income and expenditure, balance sheet and cash plan for the Trust in conjunction with other senior members of the finance team for submission to the NHSI.
• To prepare of the Business Planning Guidance, including proposed directorate expenditure budgets and savings targets, reserves allocations and gain agreement from the Trust Executive and Board to these proposals.
• To carry out the review of all annual directorate business plans to ensure that robust savings plans have been put in place and that there is consistency of income and expenditure assumptions with those in the overall Trust plans.
• To prepare the reconciliation of income and activity assumptions to directorate budgets.
• To monitor and assist in the development of Trust Financial Recovery Plans.
Person specification
Qualifications
Essential criteria
* Educated to degree level
* Expert specialist knowledge of financial and accounting procedures including current legislation and NHS accounting policies
* CCAB fully qualified / Professional chartered accountancy qualification
* Extensive post-qualification experience
Experience
Essential criteria
* Successful experience of managing staff and working effectively as part of a team
* A successful track record of delivery of financial targets within a complex organisation and difficult environment
* Experience of working at a senior level, preferably in the NHS and experience of working in a collective decision-making group
* Demonstrable experience of gaining agreement to financial plans
Skills
Essential criteria
* Able to demonstrate effective leadership skills to ensure deadlines are met and Trust strategy is delivered
* Able to work with occasional guidance to deliver annual objectives on time. Interpret DHSC and NHSI guidance and recommend approach / risks and opportunities to CFO
* Sound understanding of the NHS principles and values, and able to reflect them in the role and in the operation of the Trust
* General understanding of health and an appreciation of the broad social, political and economic trends influencing it
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