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Assistant Finance Manager

Employer
London Borough of Newham
Location
Newham, East London, United Kingdom
Salary
Competitive Salary
Closing date
Feb 13, 2024

View more

Job Role
Accounts Assistant
Sector
Finance
Contract Type
Permanent
Hours
Full Time
We are looking to recruit to six Assistant Finance Manager positions in the Finance Team supporting the following areas:
  • CYPS (Education) x 1
  • Inclusive Economy & Housing x 1
  • Central Services x 1
  • Treasury x 2
  • Pensions x 1

Newham is a vibrant inner-city borough with excellent transport links to the rest of London and South-East England, including Kent, Essex, Surrey and Middlesex. Proud to be home to one of the youngest and most diverse cultures across the country; 72% of the borough's population are from black, asian, minority ethnic communities, contributing to 220 languages being spoken in the area.

The Council's Finance Department are now recruiting to a number of roles for the Assistant Finance Manager level for individuals who are looking for a fresh challenge or candidates with relevant experience looking to progress to the next stage of their career.

The Assistant Finance Manager will play a key role in improving financial management & control, and accountability across the organisation, and enable effective proactive financial planning. We have a number of roles available at this level, all focussed on ensuring finance and organisational transformation is delivered efficiently and effectively, at speed.

You'll support the strategic, financial reporting or partnering activities of one of our front-line services or support the overall financial reporting and planning corporately. Whether your focus is on Education, Housing, Central Services, Treasury or Pensions, you’ll be expected to fuse innovation, effectiveness, efficiency and sustainability into everything you do.

We are looking for innovative individuals who can lead by example and help build a sustainable, highly effective, service that delivers exceptional support for one of our front-line departments or the council as a whole.

Ultimately, this is about improving everyday life for over 350,000 people across the borough and millions of workers and visitors. You’ll introduce more robust planning, find new revenue streams - and help us invest further in our resident-centric services.

The Job Description includes details of the role’s purpose and responsibilities. Specific areas of responsibility include:

Education
  • Working with schools to support their budget monitoring and budget management.
  • Monitoring and supporting schools in financial difficulty.
  • Provision of professional financial and accounting advice to budget managers in the Education / Youth Service.
  • Overseeing all education related grants including reconciliations and returns.
  • Responsible for calculation and allocation of funding for schools.
  • Supporting the Finance Manager with work of the Schools Forum, including financial analysis, modelling and schools forum papers
  • Contributing to the budget setting process for schools and the education service (DSG and General Fund).
  • We are leading on the completion of RA, RO, S251, CFR, SFVS and APT.
  • Provide support with year-end closedown and consolidation of accounts.


Inclusive Economy & Housing
  • Predominantly working with Housing Services to support their budget monitoring and budget management in particular relating to Temporary Accommodation
  • Provision of professional financial and accounting advice to budget managers across the Housing General Fund service
  • Support and challenge on MTFS savings delivery and potential resolutions where pressures arise
  • Financial modelling of Temporary Accommodation income and expenditure including reconciliations and trend analysis to inform forecast options
  • Reconciliation of temporary accommodation expenditure with the Northgate Housing Management System
  • Monitoring and maintaining the various funding sources and maximising allocations in line with demand and expenditure
  • Analysing the position on arrears and actively working with other services to find solutions to reducing the pressure

Central Services
  • Support the re-integration of a number of services from a shared service arrangement back into the Councils Central Services, including Property, Asset management, FM, Housing Acquisitions, and PFIs. With significant Revenue and Capital budgets, experience in some or all of these areas would be an advantage.
  • Working proactively with the Service Director & Managers within Central Services to produce an effective budget plan within existing cash limits
  • Establish Robust financial processes and develop business intelligence to provide effective support to Service Leads and inform corporate reporting
  • Support and challenge on MTFS savings delivery and potential resolutions where pressures arise
  • Provision of professional financial and accounting advice to budget managers & other stakeholders to enable effective budget planning & monitoring
  • Detailed variance analysis throughout the year, identifying and reporting financial risks relating to the service area
  • Financial appraisal of business cases including future forecasts on investment proposals, and monitoring and reporting on outcomes thereafter
  • Closing of accounts for the relevant services

Treasury
  • Liaison with the Councils’ bankers to ascertain daily cash flow requirements.
  • Liaison with treasury advisors, brokers and financial institutions in order to make informed cash management decisions.
  • To ensure the security of the councils’ investments and secure the best rates of interest after that primary goal is met.
  • To understand and analyse the councils’ balance sheets and use this to inform treasury activity.
  • Support contract management with the Councils bankers, Treasury advisors and other financial institutions required to deliver the Treasury strategies
  • Provide capital finance budget information in accordance with the budget preparation and monitoring timetable set by Strategic Finance.
  • Manage complex service loans and protect the council’s budget exposure to these entities
  • Ensure that relevant statutory and professional requirements are being complied with in relation to treasury management
  • Manage key areas of budget development, monitoring and closure of accounts ensuring relevant corporate guidance, timetables and legislation is adhered to

Pensions
  • Ability to interpret financial data/information, apply logic and judgement.
  • Good communication influencing and presentation skills
  • Manage the preparation of the Pension Fund accounts and annual report and the audit process.
  • Support the wider aspects of the closure of accounts process ensuring relevant guidance and legislation are adhered to
  • Preparing reports for members, senior stakeholders, the Pension Committee and Pensions Boards.
  • Undertaking the impact assessment of complex reports, policies and procedures
  • Undertaking risk management of the Pension Fund’s expenditure and income streams.
  • Support the financial arrangements relating to the management of admitted/ scheduled/ designated bodies of the Pension Fund.
  • Qualifications: CIPFA or equivalent qualified accountant or relevant knowledge gained through experience in Local Government Pension Scheme finance
  • This role will suit someone who has sound knowledge of the Local Government
  • Pension Scheme accounting but fundamentally have the ability to undertake financial reconciliations and experience in presenting complex information to others.

If you are interested in this role, please submit a supporting statement, explaining in no more than 1 x A4 side on why you would like to apply. Please ensure you state a preference for the area you are interested in and note this will be based on suitability.

Closing date: 3rd March 2024 at 23:59

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