Job summary – Senior Finance Officer
Salary: Scale point 033 to 035 £29,696 to £31,438
Newham Sixth Form College (NewVIc) is London’s largest sixth form college. It is a vibrant centre in the heart of the Olympic host borough of Newham for sixth form education for students from over 140 different schools from across London.
The College has had an excellent record of financial and business management since incorporation in 1992. It has always maintained a strong financial position (Education Funding Agency, (EFA)) financial category A) despite fluctuating funding streams from the funding body (the EFA) whilst investing in the physical infrastructure (building refurbishment & IT) and in professional development for staff. The College’s business support teams provide a very high quality and cost-effective service.
A key characteristic of all at the College is a commitment to excellence, to further improvement and to our students. There is a well resourced professional development programme for staff and our aim is that everyone should feel that they are part of a learning organisation, whatever their position.
We are at an exciting but crucial phase of our development as we have begun the process of seeking approval for the EFA for a major capital building project. The post holder will play an important role in the development of these plans. A key challenge for the College will be the development of this project, dealing with the EFA, managing consultants and maintaining the quality of operations during the process and in the transfer to the new building.
NewVIc is a unique sixth form college and working here will give you the opportunity to develop your expertise in a successful and innovative student-focused organisation.
The college has a strong finance team led by the finance manager, who is supported by the management accountant. The team structure is currently under review and the assistant management accountant is a new position to assist with the work of the management accountant. There are also two finance officers and a finance administrator.
Closing Date: 12 noon, 23 November 2012
Vacancy ID: OP/39
Application Form: To apply for this vacancy please complete the application form available from www.fejobs.com or www.newvic.ac.uk Applications can be submitted on-line emailed to firstname.lastname@example.org or posted to Human Resources, Newham Sixth Form College, Prince Regent Lane, London, E13 8SG. Please ensure you allow sufficient time for your application to reach us as we cannot accept applications past the closing date/time.
Candidates are shortlisted on the basis of their written application and the extent to which they meet the standard criteria. You are advised to ensure that you use your supporting statement to indicate the extent to which you meet each of the criteria in the person specification below.
Shortlisted candidates will be invited in for a selection day that may include a briefing, a written assessment, a practical test and an interview.
Job description for senior finance officer
Responsible for: N/A
Principal accountability: To assist the Finance Manager in maintaining accounting records for the college and ensuring the smooth running of a busy finance office.
a) Assist the Finance Manager in day to day operation of the finance department, work flexibly to deputise and/or support or cover for the Finance Manager whenever required
b) Prepare, collect all relevant documents and compile the month end file including the under:
a. Carry out detailed Income and Expense analysis and report variance from budget
b. Check the accuracy of coding of all income and expenses, initiate and draft correction journals for approval of FM
c. Carry out all month end reconciliations:
i. Reconcile the income received with funding agreements and schedules, draft adjustment journals to profile income to budgets
ii. Reconcile all bank and cash accounts of NewVIc and subsidiaries
iii. Reconcile the debtor and creditor accounts (collect and compile the supplier reconciliation from finance officers, check the accuracy)
iv. Reconcile all balance sheet accounts
v. Reconcile all moneys received on enrolment or refunds made to students
d. Draft all month end journals including correction journals requested by budget holders, and post the journals on to the accounting system once they have been authorized
e. Run the commitment report and check to ensure that it is correct and up-to-date, liaise with the finance officers to ensure that all inaccuracies are dealt with promptly
f. Draft the accrual and prepayment journals along with backup
g. Update the Fixed asset register, reconcile the capital expenses, compare with Capital budget and report on variance
h. Run the VAT reports, reconcile and file the returns
i. Draft the agency staff reports with analysis
j. General journals and adjustments
c) Provide support to the Finance officers during enrolment and refunds and ensure all monies collected reconcile to reports generated by the CIS team
d) Maintain the financial records of the college subsidiaries and assist in the preparation of their year-end audit file and the financial statements and filing of other statutory returns and VAT returns
e) Provide adhoc reports or analysis to resolve queries or as required
f) Maintain the financial records relating to all projects and prepare project reports for budget holders
g) Support the finance officers in advising budget holders in interpretation of their accounts
h) support the cash processes relating to:
- cash handling, card payment / direct debit processing/cash office security procedures, cheque matching
- debtors – debtors control, debt recovery routines including bailiff and county court judgements
- assets – maintain the register and determine values of assets
i) Support the finance officers in ensuring timely invoicing of clients, funding bodies, students etc. as appropriate, and also collecting debts in a timely manner, liaising with other teams where necessary
j) Assist and if required manage the implementation of systems upgrade e.g.: integration of Fixed Assets Register with the online accounting system
k) assist with the operation of an effective finance service and undertake such other duties as may reasonably be required at the initial place of work or at another of the College’s sites
l) Provide absence cover for colleagues particularly the other Senior Finance Officer. Attend to the Finance Service Desk and the Finance service desk hotline as and when required. Ensure that all queries relating to Finance Team are routed through the Finance Service Desk
m) maintain the finance system documentation and ensure it is properly updated as required
n) Assist with the development and maintenance of the finance policies and procedures
o) Cover for absence of the other Senior Finance Officer or Finance officers if required. Attend to Finance service desk or Finance hotline when required
These additional responsibilities apply to all NewVIc staff
1. To attend regular team meetings
2. To provide cover and support to colleagues within the team during periods of absence and annual leave, as required
3. To participate in the college appraisal scheme and arrangements for further training and development
4. To apply and promote NewVIc’s policies and procedures (e.g. health & safety, equal opportunities)
5. To deal with any enquiries, suggestions or complaints swiftly and appropriately referring issues to Finance Manager if necessary
THIS JOB DESCRIPTION IS SUBJECT TO ANNUAL REVIEW
Personal specification for senior finance officer
Education & professional qualifications:
- Finance/Economics/Maths graduate
- In addition to above AAT qualifications and/or CIMA/CA/ACCA part qualified
- Relevant post qualification experience
Skills & abilities:
- Ability to communicate confidently and effectively both orally and in writing at all levels of the organization
- Ability to carry out monthly routine activities with enthusiasm, accuracy adhering to the time deadlines
- Excellent level of IT skills e.g. Microsoft Office package, specifically in the use of spread sheets
- Ability to work under pressure and to tight deadlines
- Able to refocus work to priorities at short notice when required
Essential knowledge & experience:
Desirable knowledge & experience:
- Experience of operating relevant financial accounting procedures and policies within financial regulations, standing orders and statutory guidelines
- Experience of carrying out revenue finance functions to support services, e.g. budget monitoring, financial advice and guidance, allocation of income and expenditure correctly
- Experience of setting and monitoring revenue budgets and being able to influence managers to challenge spending decisions before they are made
Personal Attributes /Characteristics:
- Ability to communicate technical financial information to non-financial staff in an understandable way
- Show a high drive for achievement
Health and safety – all employees must comply with the requirements of the Health and Safety at Work Act 1974 and affiliated regulations. Employees are also required to comply with the college’s Health and Safety Policies and take reasonable care for the health and safety of themselves and of other persons who may be affected by their acts or omissions. Where the college has a statutory duty with regard to health and safety employees are required to co-operate with the college and its managers and officers so far as is necessary to enable the college to meet that duty. This includes using equipment and substances in accordance with training and instruction and the reporting of serious dangers to your own or others’ safety.
Equality – the post holder must be committed to the college’s Single Equalities Scheme.
Performance – the post holder will be required to participate in performance reviews and undertake a plan of training where necessary.
Confirmation of appointment is subject to a satisfactory 10 month probation period.
The post holder will be required to adhere to college policies and procedures.
In addition to the responsibilities listed above, all employees must be adaptable in their approach and undertake other duties that are commensurate with post holder’s level, wherever they may be, to achieve the objectives of the college.
This post is based at Prince Regent Lane nut the post holder may be required to move their base to any other location within the college at a future date.
The post holder will be required to undertake an enhanced Criminal Records Bureau (CRB) check. Criminal convictions will only7 be taken into account when they are relevant to the post.
The college’s own website
The 2009 Ofsted inspection report on New Vic
http://www.ofsted.gov.uk/oxedu reports/download/(id)/111500/(as)/130452 330823.pdf
The website of Newham Council
Enter the college’s post code E13 8SG to receive useful local information including property prices, childcare, education and public transport.
The website of the Young People’s Learning Agency
The website for the Government Office for London