Head of programme finance - Oriel

Job overview

Together, Moorfields Eye Hospital (Moorfields), University College London (UCL) and Moorfields Eye Charity (MEC) are creating a purpose-built centre of excellence for eye care, research and education. The business case has been approved, setting a project budget of over £500m, and construction has begun.  The construction is managed by a joint venture between UCL and the Trust, which has been set up as a separate legal entity.   This role is the finance lead across the whole joint programme to cover maternity leave of the existing incumbent – this means acting as finance lead for the joint venture as well as for wider aspects of the programme as they relate to Moorfields and UCL individually, and transactions that are required between UCL/Moorfields and the joint venture.  This role reports to the Chief Financial Officer of Moorfields and to the Oriel Finance lead for UCL, who are also executive directors of the joint venture and reporting to this role is a full time Band 8A Project Accountant whose role is focused on financial management, systems and administration. This is an exciting time to join the Oriel team and play a key role in their vision for the future, developing this dynamic new venture which will impact generations of patients.

Main duties of the job

Incorporating financial management of the programme finances for the joint venture, UCL and Moorfields, duties will include:  •    Financial reporting, forecasting, budgeting, financial administration and controls.  •    Advising on the financial elements of change control, governance and cost control •    Financial reporting to the project committees including Oriel Executive Board, Moorfields management executive and UCL Oriel Project Board, and attendance at the Oriel Executive Board. •    Joint venture cash flow, treasury management, tax advice and financial reporting  •    Monitoring of business case and approvals from higher bodies •    Stakeholder engagement across a number of partner organisations and external bodies

The successful candidate will be a qualified accountant with experience of developing, delivering and monitoring business cases and capital projects. You will have extensive experience of providing financial reports to board members, directors and a variety of internal and external stakeholders as well as firsthand experience of the NHS regulatory environment and compliance processes.  Proactive, resilient and interpersonally strong, you will be adept at presenting highly complex financial information across a wide audience and problem solving at a high level. You will have a professional attitude, sound judgement and the credibility and drive to make an impact in a high-profile major project such as this.

Detailed job description and main responsibilities

General financial management – programme finances for joint venture, UCL and Moorfields

• Financial reporting, forecasting, budgeting – to be accountable for delivering timely and accurate financial information in relation to incurred cost, forecast cost and budgets to the project committees and senior managers.
• Financial management, administration, and controls – responsible for ensuring appropriate financial decision making and administration of those decisions, managed through an appropriate control environment.
• Responsible for advising on the financial elements of the change control process a) understand governance and ensure financial approval are as required b) ensure calculations of apportionments are applied correctly (with cost consultant support where appropriate)
• Oversight of billing between Moorfields and UCL, and joint venture to Moorfields/UCL
• Monitoring of contingency – utilising advice from the project’s cost consultants and other professional advisors as well as wider budget monitoring and change control processes, responsible for reporting on contingency levels and their forecast use.  Responsible for working with professional advisors to ensure that risk is appropriately reflected in the assessment of required contingency.
• Understanding and advising on the procedure for allocating budget and costs between the joint venture, Moorfields and UCL, and ensuring this is appropriately reflected in financial reporting.
• Provision of financial reports to the project committees including Oriel Executive Board, Moorfields management executive and UCL Oriel Project Board, and oversight of financial information provided in other reports to these committees.  Attendance at the Oriel Executive Board.
• This role will have delegated authority to approve Moorfields expenditure relating to the project

Joint Venture specific financial management

• Cash flows / Treasury management – responsible for managing the cash flows between Moorfields/UCL and the joint venture to ensure the joint venture is appropriately funded for required payments out
• Technical accounting: o    ensure external accountants in place and providing accounts on time for Moorfields year end and then rolled forward information for UCL year end o    understand how the accounting works between Moorfields and UCL to be able to identify issues to either one (supported by accounting advisors)
• Ensure financial systems and controls are functioning appropriately, and segregation of duties is effective.
• Tax – ensure advice for both Moorfields and UCL tax advice is being complied with in the financial management of the JDV (with support from client tax advisors)
• Provision of financial reports to the Joint Venture Board, and oversight of financial information provided in other reports.  Attendance at the Joint Venture Board.
• This role is a signatory to the joint venture bank account

Monitoring of business case and approvals from higher bodies

For Moorfields: •    Responsible for working with NHS regulators on finances – monthly reporting, and obtaining budget approvals as required •    Responsible for producing CDEL analysis of forecast (with support from accounting advisors were appropriate given technical aspects of the joint venture’s implications on CDEL) •    Responsible for reviewing Trusts plans against the FBC model to identify variances and to escalate (in conjunction with Moorfields finance team) •    Responsible for monitoring finances of the benefits realisation programme

For UCL: •    Responsible for supporting variance analysis against approved business case where required •    Responsible for delivering any additional ad hoc financial reporting for UCL Estates committee, Council or other key governance groups.

Key relationships

• Moorfields Chief Financial Officer and UCL Oriel Finance lead – key reporting line
• Moorfields and UCL Senior Responsible Officer – dotted reporting line, key decision makers
• Moorfields and UCL project directors – day to day working relationship as the key roles driving the cost of the project through design and construction; and
• Oriel project team.