Job Description CFO - Viking Academy Trust - Kent Teach

Viking Academy Trust: Job Description CFO 1

Viking Academy Trust

Job Description

Member of Staff: Date:

Executive Headteacher: Date:

Position: CHIEF FINANCIAL OFFICER

Name of Member of Staff:


Viking Academy Trust

JOB DESCRIPTION: CHIEF FINANCIAL OFFICER

PREAMBLE All staff and members of governance make the education of pupils at the Viking

Academy Trust their first concern and are accountable for achieving the highest

possible standards in work and conduct.

All staff and members of governance act with honesty and integrity; have strong

subject knowledge, keep their knowledge and skills up-to-date and are self-critical;

forge positive professional relationships; and work with parents in the best interests of

their pupils.

Viking Academy Trust Base School: Trust-wide position Job Title: CHIEF FINANCIAL OFFICER

(CFO) Line Manager: CEO Line Management of: FINANCE TEAM Pay Range: IRO: £40-45,000. Negotiable

for the right candidate Working Time: FULL TIME

The Leadership Team at Viking Academy Trust share the unwavering belief in the

potential of every child; recognising the core purpose of the Leadership Team is to

inspire, excite and motivate all members of the Viking community. We know our

children don’t get a second chance for a first class education and therefore it is the

job of the Leadership Team to ensure Viking schools provide an outstanding education

for every child. Our Trust motto: ‘One Childhood, One Chance’ states this clearly and

is at the heart of all we do.

The duties outlined in this job description may be modified by the CEO, to reflect or

anticipate changes in the job, commensurate with the salary and job title.

This job description may be amended at any time after discussion with you. This job

description is intended as a reference document which identifies the main

responsibilities and activities of the post holder. It is not a comprehensive statement

of procedures and tasks but sets out the main expectations of the school in relation to

the post holder’s professional responsibilities and duties.


Purpose of role The role of the Viking Academy Trust Chief Finance Officer (CFO) is to provide high

quality leadership and management of the Trust’s financial functions, in order that the

Trust can run efficiently and effectively in delivering its vision, aims and objectives.

The CFO will work with the Board, the Heads of School and the Trust Leadership Team,

(of which he or she will be a member), to establish the vision for the future financial

management of the Trust. The CFO will contribute to the Board’s strategic decision

making, whilst taking advantage of economies of scale by centralising contracts and by

rationalising the accounting function as appropriate to the Trust’s present and intended

structure.

The CFO will ensure that sound and appropriate financial governance and risk

management arrangements are in place across the Trust, that budgets are prepared and

monitored and that annual accounts are delivered in accordance with the Academies

Financial Handbook, the EFSA guidelines and with all statutory requirements.

The CFO will lead the promotion and delivery by the whole organisation of good financial

management so that public money is safeguarded at all times and used appropriately,

economically, efficiently and effectively.

In common with the Trust Leadership Team (TLT), the CFO will be expected to work

outside normal office working hours when necessary to ensure that Trust’s needs are

met.

Responsibilities 1. Maintaining a secure overview of the management of all financial issues within each of

the VATrust’s academy schools

2. Keeping the CEO and the Board up to date with the latest Education & Skills Funding

Agency (EFSA) changes and other statutory guidance and providing filtered briefings

3. Ensuring the financial sustainability of the VATrust

4. Advising the CEO and the Board on all matters relating to the financial strategy, on

the impact of their decisions on the financial position of the VATrust and on strategic

matters, within the framework for financial control determined by the Board

5. Upholding good governance and ethical behaviour including good accounting practices in

the finance function and ensure the VATrust upholds good accounting, reporting and

internal control systems

6. Maintaining effective systems of internal audit control ie cooperating with, initiating

and managing audit procedures. Liaising with the company accountants and the VATrust’s

local audit officers and internal auditors


7. Reviewing Trust policies, processes and procedures to ensure compliance with various

external regulations including filing deadlines regarding VAT, PAYE, EFSA, DfE, HMRC,

Charity Commission and Companies Acts

8. Providing efficient financial assistance to the CEO, the Board and Heads of School

regarding all aspects of financial management within the VATrust

9. Writing the Annual Report and preparing consolidated financial statements in the

statutory format specified by the EFSA, Companies Acts and Charity Commission for

auditing by the external auditors. Arranging a timeline and detailed checklist of work to

be carried out in-house and by the external auditors to ensure the audited statutory

accounts are filed with the EFSA by 31st December

10. Liaising with COO and Heads of School to plan budgets, eg FSM, calculating additional

funding High Needs Funding,

11. Maintaining a strategic financial plan including a 3/5 year budget plan for the

organisation

12. Preparing the quarterly, monthly and ad-hoc management accounts

13. Advising the CEO and the Board if fraudulent activities are suspected or uncovered

14. Authoring and maintaining the Risk Register and attending the Finance Audit & Risk

(FAR) Committee

15. Liaising with external regulators such as the EFSA/DfE, Charity Commission,

Companies House, external auditors and internal auditors as required

16. Developing checklists for month-end reports to ensure that reports are prepared on

a reliable and consistent basis

17. Developing and maintaining the in-house Finance Manual that sets out the VATrust’s

operational procedures governing the VATrust, combining best practice with the latest

Accounts Direction issued by the EFSA

18. Assisting the CEO and Heads of School in setting and managing their school’s budgets

together with setting the VATrust’s budget, thereby enabling the Trust’s schools to

deliver the curriculum in a cost-effective manner

19. Providing support, guidance and leadership to any staff in individual schools with

financial responsibility

20. Attending and presenting at relevant committee meetings (FAR, Board, LAB, TLT) as

required to maintain the presence of the finance function and ensure broader financial

aspects of key decisions are fully considered and communicated

21. Supporting or leading financial and operational risk assessments and assistance with

implementation of appropriate safeguards


22. Receiving, analysing and interpreting financial reports, communicating findings in a

simplified manner when necessary

23. Researching, leading and advising the CEO and Heads of School on additional funding,

revenue/income opportunities and additional business opportunities

24. Preparing appropriate bids or tender documents to acquire identified additional

funds or grants (responsibilities are developed collectively)

25. Executing the generic duties of a VAT senior leader

Specific Areas of Responsibility

Budgets/Budgetary Control

1. Overseeing the preparations of an annual draft budget plan for each academy school

for consideration by the FAR and LAB Committees and ratification by the Board of

Trustees before the start of each relevant financial year

2. Monitoring expenditure and reporting to the CEO regarding income and cash flow

against the approved budget and submitting reports on each academy schools’ financial

position to each meeting of the FAR and LAB Committees

3. Approving virements within the delegated financial limits and reporting such approvals

to the Finance Committee

4. Reviewing any virements required for any academy school’s budgets and recommending

these to the CEO and FAR for approval if appropriate

5. Ensuring compliance with PAYE, NI, VAT and other relevant legislation

Internal Audit

1. Maintaining and resourcing an effective internal audit function or equivalent

2. Producing internal termly audit reports for each academy school in the VATrust,

together with any recommendations for improvement

3. Ensuring internal reports are shared with the CEO, Heads of School and FAR

Committee

4. Perform quarterly FMS6 ‘Health Checks’

Purchasing

1. Maintaining an overview of all the VATrust’s academy schools and providing best

value options for key purchases

2. Overseeing tenders for service contracts and cost effectiveness


3. Providing guidance to staff with financial responsibilities and the CEO over retention

of quotes obtained for goods, works and services and other associated documentation

such as minutes of meetings, recording of decisions and reports

4, Annually reviewing Service Level Agreements (SLAs) and reporting findings to the

Finance, Audit & Risk Committee (FAR) eg Grounds Maintenance, IT Support,

Subscriptions

5. Complete regular Benchmarking exercises to ensure best practice and value for money

Payroll and Personnel

1. Developing and evaluating the payroll service

2. Ensuring the monthly payroll is checked, and certified

3. Comparing actual payroll costs each month to budgeted costs and such reports to be

passed to the CEO and retained for future audit purpose

4. Responsibility to Line Manage staff in the Finance Tem across the Viking Schools ie

Finance Officers (currently 3 staff but may grow as the Mat increases)

5. Administer Performance Appraisal for above staff

6. Oversee the Induction programme of new staff to the Finance Team

7. Liaise with the COO and CEO over any concerns regarding staff in the Finance Team

Development

1. Working with CEO, COO, Heads of School and staff with financial responsibilities to

identify sources of additional funding to support the VATrust’s programmes and

development

2. Managing any relevant changes eg Software upgrades, staff reorganisation

Liaison and Communication

1. To maintain up to date electronic diary, weekly/monthly overview to ensure

organisation of own diary is communicated with key staff across the Trust

2. To establish methods of liaising with COO to ensure HR & Finance teams are working

in partnership

3. To attend & contribute to Trust Leadership Meetings when appropriate

4: To present to different stakeholders ie Trustees, Local Governors, Heads of School,

Auditors & Accountants

5. To communicate effectively with a range of Trust personnel:


Trust Leadership Team (TLT)

Trust Board, FAR (Finance Audit & Risk) Committee and Local Advisory Bodies

(LABs)

Finance staff in each academy

Chief Operations Officer (COO)

Other Duties and Responsibilities

To play a full part in the life of the Viking community, to support its distinctive

mission and ethos and to encourage staff and pupils across the Trust to follow

this example

To contribute to the review of Trust policies as appropriate.

To comply with Trust policies and procedures with regard to Health and Safety,

Safeguarding, equal opportunities, race equality, conduct and dress.

Delivering day-to-day duties consistently with the agreed service level

Acting as a champion for change and improvement, constantly enhancing quality

Making a commitment and contribution to improving standards for pupils, as

appropriate

Contributing to the maintenance of a caring and stimulating environment for pupils

To undertake any other duties as may be reasonably required.

To participate in administrative and organisational tasks related to the duties

described above.

To interact professionally with colleagues to ensure understanding and awareness

of responsibilities of all colleagues and undergo any relevant training

Undertaking other duties commensurate with the job level

Working Time

This is a full-time post. Due to the nature of the role, the academy financial year must

be adhered to.

Working hours are usually between 8am and 5pm, however the post holder may be

required to work outside of normal working hours on occasion, with due notice.

Performance Appraisal

The post holder will participate in the Trust’s Performance Appraisal Cycle following the

guidelines established for staff working at an executive level.

The Post Holder will also lead Performance Appraisal for the staff they line manage

(Finance Team)

Terms of Employment


All offers of employment are subject to the Trust receiving proof of identity, two

satisfactory references, a pre-employment medical check, an enhanced DBS disclosure, a

signed Code of Conduct, evidence of your relevant qualifications and successful

completion of a 6-month probation period.

JD created October 2017


Appendix 1:

Person Specification

CHIEF FINANCIAL OFFICER (CFO)

Person Specification: CHIEF FINANCIAL OFFICER (CFO)

ESSENTIAL (E) /

DESIRABLE (D)

EVIDENCED BY

QUALIFICATIONS

Qualified to degree level D Certificates

Professional finance or finance

related qualification at graduate level

(i.e. ACA, ACCA, CIMA, CIPFA,

MAAT, ASBM, DSBM or equivalent)

E Certificates

KNOWLEDGE, UNDERSTANDING AND EXPERIENCE (UPTO DATE / CURRENT)

Significant post qualifying experience

and in depth professional knowledge

acquired through experience

E Application/Interview

Experience managing significant

financial resources with a good

appreciation of relevant regulatory

frameworks


Experience of financial processes and

procedures


Experience of effectively managing a

team


In depth knowledge of statutory

requirements, procedures and

regulatory requirements relating to

academies.

D Application/Interview

High level of IT competence, literacy

and numeracy skills


Experience of using and supporting

others in the use of financial

software packages, including a

working knowledge of FMS6 and

HCSS as well as MiS ie Sims,

Bromcom


PERSONAL AND PROFESSIONAL QUALITIES

Strong persuasive, influencing and

interpersonal skills with the ability to



communicate clearly and confidently

with different stakeholders

Excellent skills in strategic planning

and strategic

Management of financial resources


Clear analytical skills to allow the

exploration, evaluation and

interpretation of information and

opinions and utilisation of

management information system


Strong decision making skills with the

ability to make decisions and

recommendations based on the

analysis of options


Capacity to work under pressure to

meet deadlines and organisational

priorities.


Good leadership skills and ability to

inspire and challenge colleagues


Commitment to staff’s and own

personal development


Experience leading and organising

staff training


Experience leading Performance

Appraisal


Flexible in terms of working patterns

and evolution of the role

E

Team-player, personable, emotionally

intelligent with a sense of humour

D

OTHER

Driving licence and own transport E Application/Interview


Appendix 2:

Viking Academy Trust Leadership Structure:

Including Central Staff Team

Job Description CFO - Viking Academy Trust - Kent Teach

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