Job Title: Finance Manager
Hours: 37.5 hours per week
Salary: £50-55k per annum
Responsible to: Head of Finance
Responsible for:Finance PCN Finance Business Partner and Finance Assistant
Key Relationships: HCL Operations Team, Board of Directors, Senior Leadership Team
BACKGROUND
WHO WE ARE
Healthcare Central London Ltd (HCL) is a federation of 32 General Practices and 4 Primary Care Networks (PCNS) in Westminster caring for more than 275,000 registered patients. We provide Community and Primary Care services to our local residents, in addition to a wide range of staffing, management and administrative support to our member practices. By working closely with our PCNs and other key partners, including the Local Authority and community organisations, we help people to stay well and live healthier lives for longer.
We operate Federation-led services including Respiratory and Spirometry hubs; Community Cardiology; Community Dermatology; Community Diabetes service; Access E-hub and Enhanced Access and we support PCNs with managing their NWL single offer contract of services and the National Network DES contract, including ARRS roles.
We are proud to have a unique model of community-led care and support to tackle imbalances and inequality in the system called ‘The Octopus’ and takes us on a journey as part of the Westminster Integrated Neighborhood Team (INT)
Since our inception as a Community Interest Company (CiC) in 2007 and our transfer to our limited company, Healthcare Central London, in 2023, we have grown year on year and now turnover just over £10 million and employ more than 100 employees at our Head Office on Edgware Road and at our partner practices across Westminster. For 2023/24 HCL will be growing to circa £15m turnover and 150 employees.
HCL is a business with big financial ambitions and plans, and this role will pay a key role in developing our financial processes and capability to support these plans. Reporting to the Director of Finance and Resources, this role will provide a fantastic opportunity for a qualified finance professional to step into a head of role and gain a breadth of experience and learn from an experienced Finance Director. This role will be pivotal on supporting the growth of the business and have an opportunity to be a key part of developing commercial agreements and investment appraisal for both NHS and Private sector contracts.
HOW WE WORK
Our vision is to be recognised as a leading GP provider network, run by clinicians for the benefit of our local population and practices. We will achieve this by working with patients and partners to ensure that general practice remains sustainable and independent. We aim to further diversify our income by exploring commercial joint ventures and expanding our research team in the coming years.
Our people are our greatest asset. When we feel included, valued and supported in work this positivity reaches those very people we are here for, the patients. HCL is committed to actively supporting diversity and inclusion and ensuring that all our employees are valued, treated with dignity and respect and enabled and supported to reach their potential.
Our employees work flexibly according to the needs of our customers, typically onsite at our practices or hub sites or at our offices near Marylebone/Edgware Road. Our office-based roles are typically worked as hybrid roles the pattern of which are agreed and reviewed according to service/team requirements.
ROLE PURPOSE
Supporting the Director of Finance and Resource and Head of Finance to deliver accurate and timely accounts, costings and saving initiatives to drive profitability, revenue growth and manage cash flow, the Management accountant will manage the finance team of two, leading on best practice, development and finance process improvement ensuring that timely financial results and reporting are delivered for the group. Responsibilities include managing the full month end process, overseeing payroll, reporting, balance sheet reconciliation, weekly payments, accounts receivable and deputising for the Head of Finance.
This role will also work as a business partner to our Service Managers, providing commercial and intuitive financial advice and support, enabling/equipping to manage contract income accurately and achieve budgets. Supporting on financial modelling for new services, budgeting and forecasting and providing detailed analysis on projects will also be essential elements of the role.
KEY TASKS AND RESPONSIBILITIES
Generalist Skills:
Possess strong generalist financial skills with a broad understanding of finance functions.
Ability to adapt and contribute to various financial aspects within the organisation.
Financial Reporting and Analysis:
Prepare monthly management accounts, including variance analysis against budgets and forecasts.
Develop and maintain financial dashboards for performance monitoring.
Support senior management with ad-hoc financial reporting.
Month End Process
Manage the full month end process cycle making sure its completed within timetable
Detailed commentary on material variances to Forecast/Budget.
Detailed monthly balance sheet reconciliations with review with HOF/FD
Budgeting and Forecasting:
Collaborate with department heads to develop annual budgets.
Prepare forecasts and analyse potential financial risks.
Provide insights and recommendations based on budget variances.
Cost Management:
Monitor and control operational costs.
Conduct profitability analysis of products, services, or projects.
Support cost-saving initiatives and provide financial advice to stakeholders.
Compliance and Control:
Ensure compliance with financial regulations and internal policies.
Maintain accurate records for audits and regulatory requirements.
Assist with year-end closing and liaise with external auditors.
Process Improvement:
Identify inefficiencies in accounts payable & receivable processes and propose improvements.
Assist in the implementation of automated systems for invoice processing.
Line Management and Staff Development:
Provide effective line management for the finance team, fostering a positive working environment.
Support staff development through training, mentoring, and performance management.
Qualifications & Requirements:
Professional qualification or certification (e.g., CIMA, ACCA) or significant progress toward completion.
Understanding of NHS-specific finance systems and structures is an advantage.
Proven experience in a senior finance role, preferably within the healthcare sector.
Excellent leadership and interpersonal skills.
Advanced proficiency in financial modelling and data analysis tools.
Experience with external audits and payroll processes, ideally with some previous experience of identifying and implementing new payroll systems/ providers.
If you are a strategic finance leader with a passion for healthcare and possess the skills and experience outlined above, we invite you to apply for this exciting opportunity. Join our team and contribute to the financial success of our organisation in providing innovative primary care services in Central London.
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