Job summary
- Main area
- Finance
- Grade
- Band 8b
- Contract
- Permanent
- Hours
- Full time - 37.5 hours per week
- Job ref
- 392-RNOH-1196
- Employer
- Royal National Orthopaedic Hospital NHS Trust
- Employer type
- NHS
- Site
- Royal National Orthopedic Hospital
- Town
- Stanmore
- Salary
- £67,950 - £78,028 Per Annum inclusive of HCAS
- Salary period
- Yearly
- Closing
- 21/04/2025 08:00
Employer heading
Finance Business Partner
Band 8b
Please note in order to progress your application, your data will be processed by our 3rd party recruitment providers – North London Partners Shared Service, who conduct recruitment activities on behalf of Royal National Orthopaedic Hospital NHS Trust.
The Royal National Orthopaedic Hospital NHS Trust is the largest orthopaedic hospital in the UK and a global leader in our field. We provide a dynamic working environment where we support frontline staff to implement improvements so that we can realise our vision of being a world leading neuro musculoskeletal hospital providing the best patient care and staff experience in the NHS, delivering world leading research, and offering a strong foundation of education, training and career progression. Our dedicated staff come from diverse backgrounds, and our patients benefit from the wide range of experience they bring to the Trust. The RNOH brings unrivalled expertise together in one place allowing us to deliver some of the world’s most complex and innovative care to our patients
- Rated Good by the CQC
- Two sites, one in central London and one in Stanmore - which has recently opened The Stanmore Building, a new, state-of-the-art inpatient facility
- Our Research and Innovation Centre works closely with our main academic partner, University College London
- Recognised as a centre of excellence, leading on national initiatives, such as the Getting It Right First Time (GIRFT) Programme
- Further major redevelopment underway across the Stanmore site – improving and modernising our facilities to maintain our position as the UK’s leading centre for orthopaedic medicine
- In the NHS staff survey, over 90% of our staff were satisfied with the quality of care they are able to give to patients - the best result of any NHS Trust in the country
- Our staff also indicated that they had the best experience of appraisals as compared to all other NHS Trusts.
This is a great time to join us and play a critical role in the next stage of RNOH’s journey to achieving an outstanding CQC rating.
Our aim is to remain a world-leading orthopaedic hospital with the best patient care and staff experience in the NHS. To do this, we have four core values that underpin everything that we do. We use our values to help ensure that we are always focused on the things that our staff and patients believe are most important:
- Patients first, always
- Excellence, in all we do
- Trust, honesty and respect, for each other
- Equality, for all
Our annual staff survey results have been improving year on year, with our staff telling us that their experience of working at the Trust is getting better and better. They also indicate that our staff feel very loyal to the RNOH and committed to its role in providing the very best care to our complex patient group. We hope that we can welcome you to our growing team soon.
Job overview
A successful Finance Business Partner will be an individual with the skills to actively engage with budgetholders on a wide financial agenda. The role involves providing advice to budget holders within corporate directorates and clinical divisions of the Trust. You will be working directly with the Heads of Operations for the divisions and Corporate Directors and be responsible for the management of the Divisional Management Accountant. You should have excellent technical and interpersonal skills with the ability to prioritise and manage workload to deadlines. Be a team player who is self-motivated, innovative and able to actively contribute to both the success of the divisions and the trust. Applicants should be CCAB qualified.
This role reports to the Head of Financial Reporting and as well as analysing and reporting on budgetary performance, as a member of the Divisional leadership team you will ensure colleagues develop a thorough understanding of business drivers within their areas of control.
Main duties of the job
We are looking for a talented individual that can combine excellent financial management acumen with the interpersonal skills to build meaningful relationships with Divisional Heads of Operations & Divisional Leads. You will provide robust and accurate financial advice, in line with the wider trust vision, and actively engage with key stakeholders to contribute to the success of the divisions and the Trust as a whole. We require an effective and personable communicator to translate complex finance concepts. As a Trust, we encourage our senior leaders to be innovative in their decision making, while providing the platform and freedom to do so.
Working for our organisation
The Royal National Orthopaedic Hospital NHS Trust is a provider of specialist musculoskeletal and neuro-musculoskeletal care based in North London. We are proud to offer a broad and unique range of highly-specialised orthopaedic services, from the management of acute spinal injury or complex bone tumour to orthopaedic medicine and specialist rehabilitation for chronic back pain sufferers. With over 1800 staff across our two sites, we are committed to improving the quality of orthopaedic care to meet our patients' needs through our academic and commercial clinical research partnerships.
We are a global top 10 orthopaedic hospital, with a significant footprint across the NHS. Our state-of-the-art teaching and training programme has allowed us to provide education to over 20% of the orthopaedic surgeons in the UK. We are passionate about the quality of our work and our commitment to openness. We value all our staff, are concerned for their wellbeing. We seek to foster ambition, innovation and excellence in our workforce.
Detailed job description and main responsibilities
Job Purpose
We are looking for a talented individual that can combine excellent financial management acumen with the interpersonal skills to build meaningful relationships with Divisional Heads of Operations. You will provide robust and accurate financial advice, in line with the wider trust vision, and actively engage with key stakeholders to contribute to the success of the divisions and trust as a whole.
Main Duties and Responsibilities
Relationships
1. Develop close working relationships with the Head of Financial Reporting, Deputy Director of Finance and Director of Finance ensuring timely and accurate reporting of monthly management accounts that is concisely explained and understood.
2. Work as an active member of the Divisional Leadership team, ensuring colleagues develop a thorough understanding of business drivers within their areas of control. Work with clinicians and managers to understand their need for, and ensure that they are promptly provided with, financial information to understand and manage the business drivers and achieve effective budgetary control.
3. Manage the designated Management Accountant, providing professional and managerial leadership.
4. Work with the Income and Costing team in the completion and use of Service Level Reporting and Patient Level Costing as required.
5. Ensure that the Management Accounts section has effective working relationships with colleagues in the Finance, Contracts, Information, Supplies and Procurement departments and with other colleagues across the Trust.
Principle Objectives
6. This key business partner role provides independent financial advice to the divisions managing the divisional Income and Expenditure plans, actual and forecast reports.
7. To autonomously provide professional comprehensive financial management information and advice to the Divisional Leadership team, Executive Board members, speciality leads and all budget holders in user friendly terms to enable the achievement of their financial responsibilities.
8. To be an active member of the Divisional Leadership team providing advice and guidance on all finance related issues and challenging Board members as appropriate to influence Business decision.
9. To provide integrated I&E contract performance and capital financial planning and financial accountancy and forecasting advice.
10. To instigate, advise and facilitate training to ensure compliance with external financial standards and internal Trust financial and operational policies and procedures, and specifically all SFIs including procurement requirements.
11. To develop accurate and robust financial plans which reflect the Divisions Business Plans
12. Identification and analysis of opportunities for the more efficient deployment of resources and the communication of such to the divisional management teams, senior clinicians and/ or Trust Executive e.g. benchmarking divisional and speciality performance against the NHS Dashboard.
13. To support the Divisional Leadership team in developing plans and delivering actions to ensure that the financial affairs are conducted in accordance with the Trust’s regulatory framework.
14. Interpretation, advice and implementation of Department of Health and Trust financial policies linked to operational issues, activity, income (payment by results) and costs. This is to include communication with Trust management or amending Trust policy with regard to any change in external legislation.
Financial Management and Control
15. Design and develop budgets with the Divisional Leadership team, in accordance with the framework determined by the Deputy Director of Finance taking into account phasing, forecasting, cost pressures and service developments.
16. Assist local management in the drawing up of CIPs, validating the plans to provide assurance around delivery. Once the relevant CIP has been approved, the post holder will report performance against the CIP plan on a monthly basis, highlighting areas of non-achievement.
17. Working with the Management Accountant, to review and provide assurance to the monthly financial statements within agreed timescales to enable the financial performance of the divisions to be monitored and consequently the identification and explanation of financial variances that have occurred within the Division.
18. Analyse and report the income position of the Division. Amalgamation with cost analysis and hence reporting in both activity and financial terms, to enable a holistic appraisal of the division’s activities to be made.
19. Interpretive analysis and subsequent calculation of the forecasted year-end financial position, in terms of both Income and Expenditure, to be provided for the monthly Trust Board report and external reporting to NHS Improvement.
20. Identify and implement action to correct variances and monitor compliance against Trust plans. Identifying and investigating the monthly and year to date financial position.
21. Autonomously produce narrative reports (Word or Excel) to identify the current business position of the Division, including activity, finance, staffing establishments, financial forecasting and potential corrective action plans in order to support the Division to ensure correct business actions are taken.
22. Identify and review the financial information needs of the Divisions. Design, facilitate and chair training days for non-finance staff to ensure they understand the financial information they receive and explain clearly highly complex financial concepts, processes and data that are used/ provided. Training also to be included with regards to the non-financial elements of business case processes and formulation.
23. To provide advice and financial control to the Division on staffing establishment issues. Assert financial control and ensure that the Division remains within their funded staffing establishment.
24. Attend relevant management meetings within the Division to clearly explain to senior clinical staff and divisional clinical director the financial position of the Division and Trust (including highly sensitive information) and identify and implement corrective actions.
Business/Service Planning and Service Agreements
25. Represent the Trust in communications with External organisations. To include, negotiating and liaising in conjunction with the formulation of service definition and specification agreements, formulating service outputs and reporting mechanisms, collation of information and invoicing appropriately. Constantly reviewing service needs and negotiating with external organisations over relevant changes.
26. To identify the impact on income and expenditure of changes in both the volume and case-mix of activity where required. Preparing a financial analysis of the changes and presenting the results and solutions to Trust Divisional managers within the relevant areas.
27. Compute and summarise the financial evaluation of legal documents, e.g. leases, and advising as to the correct financial treatment (bearing in mind legislative requirements) and option appraisal.
28. Calculate the financial implications of decisions and service changes. Reporting the financial and service implications, either through presentations or written reports to Division teams. Providing comprehensive financial support in the production of business cases.
29. Ensuring financial reporting is consistent with various statutory and mandatory returns, including reference cost submissions and statutory accounting. This may include liaison with external auditors.
30. Work for and with the internal and external audit teams to clarify account queries or enable value for money audits to be completed within agreed timescales.
31. To ensure that all audit reports are responded to within Trust deadlines and that agreed audit report recommendations are dealt with and reported to the Audit Committee as required.
32. Responsible for the development and implementation of a range of Finance policies and service developments within the Division.
Corporate
33. Provide visible leadership and promote continual improvement in quality, performance and delivery of Trust objectives
34. Lead, manage and motivate staff to deliver and improve services so meeting the needs of patients
35. Use specialist knowledge and experience to ensure that decisions taken are in the Trust’s best interests
36. Put the interests of the Trust before any interest to a specific area of responsibility, and to participate fully in the Division’s collective decision-making as a team member rather than as a functional or professional advocate
37. To manage the Divisional Management Accountant, leading on the provision of a full financial business partnership service to the divisions.
the financial procedures and controls which are in operation.
46. To report all breaches of SFI’s by the division to the Board Secretary and Director of Finance.
47. Identify, draft and monitor the implementation of corrective action agreed in both internal and external audit reports within required delivery and reporting timescales.
48. To be conversant with the appropriate financial legislation covering areas of responsibility (i.e. VAT, PAYE, SMP).
49. Represent the clinical division in a professional manner, within and outside of the Trust.
Person specification
Qualifications
Essential criteria
- Degree or equivalent
- Qualified CCAB or equivalent
- Management/leadership qualification or equivalent experience
Skills and Abilities
Essential criteria
- Good presentation skills
- Competence in Microsoft Word, Excel and Outlook
- High level of analytical and problem solving skills – ability to analyse highly complex data/information/problems and make judgements/draw conclusions – including ability to respond to unexpected demands
- Ability to work independently and make autonomous decisions
- Strong communication skills both written and verbal – able to provide and receive highly complex, sensitive information and use persuasion, influencing and negotiation with individuals and groups including stakeholders
- Negotiation on controversial issues including performance and change
- Ability to organise and prioritise own workload and direct the work others and adjust plans as required both in the short and long term
Experience
Essential criteria
- Significant post-qualification experience in the financial management reporting of an NHS acute hospital.
- Experience of implementing new approaches/ systems to financial reporting
- Experience of communicating with senior managers, senior clinicians and senior staff of external organisations
- Extensive experience of Cost Improvement Plan (CIP) monitoring and reporting
- Proven experience of working in a senior management/leadership role
- Leading changes in practice in a complex environment to improve performance/services
- Responsible for a significant budget and budget setting
- Identifying and interpreting national policy and implementing required changes
- Business case development
- Financial planning and forecasting to deliver targets
Desirable criteria
- Experience of a Specialist NHS Trust environment
Knowledge
Essential criteria
- Financial procedures including budget setting and working knowledge of financial processes
- Business planning /annual planning/long term planning
- Thorough experience and up to date knowledge of IFRS accounting standards and internal financial controls
- Familiarity with integrated financial IT systems
- In depth understanding of the current NHS agenda and healthcare policy including transformation and workforce
- Demonstrable knowledge of service improvements and project management
- Extensive knowledge of financial reporting systems including report writing
Desirable criteria
- Experience of Business Objects and E-financials
Disposition and Attributes
Essential criteria
- Ability to work under pressure and meet objectives with conflicting deadlines
- Sound judgement: able quickly to identify and explain the essential issues
- Empathy: ability to understand and respond to managers’ motivations to achieve successful behaviour change
- Ability to use initiative and develop innovative solutions
- Treats others with Integrity and respect
Employer certification / accreditation badges
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Applicant requirements
You must have appropriate UK professional registration.
Documents to download
Further details / informal visits contact
- Name
- Karthiha Subramaniam
- Job title
- Head of Financial Reporting
- Email address
- [email protected]
- Telephone number
- 07399442111
- Additional information
Available on email.
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