Financial Analyst

NHS; London; On-site; GBP 35,000 - 50,000; Full time

Job summary

Join a leading charity as a Financial Analyst to manage and analyze financial operations. You will work with various departments, ensuring accurate financial reporting and compliance with statutory standards. This role is crucial for supporting strategic decision-making and enhancing the financial health of our services.

Qualifications

• Experience in a finance environment required.
• Proven knowledge of accounting, reconciliations, and VAT rules.
• Ability to communicate financial information effectively.

Responsibilities

• Prepare and monitor budgets, ensuring compliance with standards.
• Perform monthly reconciliations and financial analysis.
• Identify cost-saving opportunities and manage financial reporting.

Skills

Analytical skills

Communication

Teamwork

Excel proficiency

Education

BSc in Finance or related field

AAT Technician Level Qualification

NVQ Level 4 or equivalent

Tools

Business Central Accounting software

Job description

As a Financial Analyst, you will be integral to managing and analysing all aspects of income and expenditure across the Hospice Trading Company, supporting strategic decision-making and ensuring compliance with statutory accounting standards. You will work closely with various departments to provide timely, accurate, and meaningful financial information, contributing to the preparation of annual budgets, monthly management accounts, and annual accounts.

Main duties of the job

Assist in the preparation and monitoring of budgets, ensuring compliance with statutory standards and internal policies.

Provide financial analysis to support monthly management accounts and year-end financial performance reporting.

Prepare and process journals, calculate accounting adjustments, and ensure accurate reconciliation of accounts.

Support the identification of cost-saving opportunities and suggest alternative solutions to help meet financial targets.

Manage sales invoicing, including recording transactions, credit control, and reconciliation of shop income.

Post purchase invoices and ensure proper authorization and accuracy within the accounting system.

Handle monthly bank reconciliations and maintain accurate records of all bank transactions.

Assist in preparing for audits, providing necessary documentation, and proactively identifying process improvements.

About us

Community Hospiceis a respected charity providing high-quality care to people with terminal illnesses in the local community. Our Finance Department plays a crucial role in ensuring the financial health and sustainability of our services. We are now seeking a talented and motivated Financial Analyst to join our team.

We reserve the right to close the vacancy in the event we receive a high volume of applications.

Job responsibilities

• To work as part of the FinanceTeam in the preparation, processing and monitoring of allincome and expenditure of GBCH Trading Company
• To supportthe monitoring of all Budgets,ensuring compliance with Statutory accounting standards, policies andguidelines.
• Discuss andrespond to / deal with queries from staff, customers or suppliers, any issues in respect of any aspect of GBCH TradingCompany income or expenditure, including areas of potential complexity andsensitivity. Resolution requires analysis of often complicated financial dataand the interpretation and presentation of the results and recommendations forfinance and non-finance staff.
• Assist in thepreparation of detailed service budgets (for pay. Non-pay and income),including the processing, reconciling and control of all such budgets withinthe Microsoft Business Central Financial Systems and general ledger
• Preparationand processing of journals for inputting to the general ledger, in accordancewith systems and audit controls and monthly timescales, ensuring all entriesare made against to relevant and correct account codes to support monthly andannual financial performance management reporting
• Calculate& prepare Trading Companys accounting adjustments e.g. Accruals &Prepayments for input into the general ledger as part of the monthly and annualAccounts process
• To undertakemonthly balancing and reconciliationof accounts / ledgers, ensuring sound audit trails are maintained.
• Undertakemonthly analysis of the financial performance of the Named Budgets in order toaccurately project the financial position at year end, using often complexmathematical formulae to forecast year end costs
• Use of Excelspreadsheets to input and manipulate financial data to calculate the financialimpact of service development or change and the presentation of that financialdata in the form of graphs and professional reports.
• To support thesearch for cost savings by identifying high cost areas and suggestingalternative cost solutions, which assist the Budget Holders / SMT in meeting annual financial targets.
• Ensures thatbudget managers receive accurate and relevant budget and exception reportswithin the agreed monthly and annual reporting timetables.
• Plan ownworkload, to ensure all monthly and annual timescales are met, promotingexcellent working relationships within and outside of Finance at all times.
• Works withindefined operational procedures, aswell as implements existingpolicies and procedures and review and propose changes to departmentalwork practices
• Ensure allsales transactions recorded at GBCH shops via Cybertill and e-commerce salesare recorded on Business Central Accounting software.
• Responsiblefor credit control for all shops and change incorrect code and VAT
• Download &Collate shop income for each shops and create report on Excel to be posted onBusiness Central.
• Provide amonthly and yearly breakdown status of the sales ledger for use by the auditorsincluding any supporting documentation for outstanding debts and creditbalances.
• Keep anaccurate filing and retrieval system for all sales invoices including previousyears.
• Supply copyinvoices (where applicable) and statements as required.

PurchaseLedger

• Use theaccounting software to post purchase invoices under the supervision of theFinancial Management Accountant.
• Ensure allinvoices are recorded to the correct codes within the accounting software andhave the requisite authorization.
• Ensurepurchase invoices are filed correctly and easily retrievable
• Ensure all invoicesare addressed to the finance department and with the correct entity name andrectify if this is not the case.
• Reconciliationof supplier statements including following up any queries.
• Processpayment run, collate a list of invoices for payment ensuring these have beenappropriately authorized.
• Provide theManagement Accountant with a list of suppliers to be paid by BACS.
• Processpayments on accounting software.
• Responsiblefor providing the auditors with necessary documentation as and when requested.

Bank Account

• Process incomeensuring that income received into the bank reconciles with information onsales/ Cybertill reports, standing order, cash collection service and otheronline receipts, and purchase invoices. Highlight any discrepancies and providenecessary information for investigation purposes.
• Responsiblefor inputting all bank transactions onto the accounting system for each entity.
• Monthly bankreconciliation of all bank accounts highlighting and discrepancies.

Management ofthe Purchase Ledger

• To use BusinessCentral Accounts to process purchase invoices in a timely and accurate manner
• Process, codeand distribute invoices to relevant staff members for verification and authorizationon B.C.
• Follow up withbudget holders to ensure invoices are appropriately authorized before month end.
• Provide the Headof finance or Management accountant with a list of suppliers to be paid by BACSand raise cheques for those not being paid by bacs.
• Processpayments on BC.

Others

• Assist in theyearly audit by providing information when requested
• Proactivelyidentify opportunities to improve systems and processes
• Any otherduties consistent with the role

COMMUNICATION AND WORKINGRELATIONSHIPS

1. INTERNAL:

All Departments within the Hospice

All Hospice Shops

2. EXTERNAL:

Patients and Relatives Donations

Hospice Donors Donations

General Statements

Be familiar with and adhere to all Hospice(and relevant Trust) policies and procedures.

The post holder will work within their professional code of conduct,e.g. NMC, GMC, CIPD, AHP codes.

The postholder may be required to work in and from any Hospice or associated Companypremises.

This jobdescription is intended as an outline of the general areas of activity and willbe amended from time to time in the light of the changing needs of the organisation. It will then bereviewed in association with the jobholder(s)

Confidentiality/Data Protection/General Data Protection Regulations

The postholder is expected tomaintain the complete confidentiality of all material and information to whichhe/she has access and process and in particular the confidentiality of allpersonal data stored, in line with the requirements of the General DataProtection Regulations 2018 (and preceding Data Protection Acts) andprofessional bodies.

Any requests for clinicalinformation disclosure must be approved by Caldicott Guardian.

The postholder must, if requiredto do so, process recordsor information in a fair andlawful way. He/she must hold and use data only for the specified, registered purpose for which it wasobtained and disclose data onlyto authorised persons.

Corporate Governance

The postholder must, at alltimes, act honestly and openly and comply with relevant corporate governancerequirements, employment legislation, standards of business conduct, codes ofopenness and accountability.

The postholder must comply withand promote Equal Opportunities and Diversity and accordingly must avoid anybehaviour which discriminates against colleagues, potential employees, patientsor clients on the grounds of sex, marital status, sexual orientation, age,race, colour, nationality, ethnic or national origin, religion or belief,disability, political opinion, gender reassignment or trade union membership.

Health and Safety

Under the Health &Safety at Work Act (1974),it is the responsibility of the postholder at every level to takecare of his/her own health and safety and that of others who may be affected byhis/her acts at work. This includes co-operating with the organisation and

Taking personal responsibilityfor safety as outlined in the Hospice Health & Safety Policy and the Health& Safety at Work Act 1974 and fire regulations.

This job description is not exhaustive and may be reviewed and changed by discussion with post holder to meetthe needs of the service.

This job description is a reflection of the currentposition and the postholder is expected to view it as a guide rather than an exact description of all duties and responsibilities. It may be subjectto variation from time to time. Any variations will bemade due to service requirements and will be made in consultation with the postholder.

Person Specification

Qualifications

• BSc.
• AAT Technician Level Qualification or proven equivalent experience of ability to work at this technical and professional level.
• NVQ Level 4 or equivalent experience
• Business Central Accounting software user qualification

Experience

• Experience working within a finance environment
• Experience of computerized financial management systems and
• controls
• Experience of accounting, including reconciliations, controls and VAT rules and guidelines
• Experience of working as part of a team
• Experience of working with people outside own immediate work area in the communication of financial information e.g. analyse & report data, answer queries, telephone, e-mail etc.
• Experience of budget setting and budgetary control, including the reporting and management and implementation of corrective action.
• Experience of dealing with external agencies and dealing with Audit queries and responses.

Aptitude, Personal Characteristics

• Ability to exercise judgement and control.
• To be able to communicate effectively with wide range of people
• Willing to work in a flexible manner
• The ability to act on own initiative without supervision, and prioritize and manage workload accordingly.
• Ability to deal with sensitive and confidential issues
• Professional and approachable

Skills, Knowledge and Abilities

• Knowledge of financial and computerized reporting systems
• Understand the implications of current Accounting and legislation as it affects the area of work
• The ability to effectively organize workload and work within strict deadlines.
• Excellent in the use of spreadsheets and other PC- based office applications.
• Sound communicative skills and the ability to discuss queries with colleagues, internal and external stakeholders alike.
• The ability to work as part of a team, achieving a corporate objective.
• Ability to process, analyze and interpret complex financial data, and explain the result to non- finance staff
• The ability to identify errors, resolve discrepancies and handle any problems as they arise