Finance
The Humanities Divisional Finance Team provides the link between the financial decision making of the University’s centralised Finance Division and the Humanities Division. Our role is to work with the Divisional Head, the Division’s Head of Administration and other senior Divisional staff, Faculty Board Chairs, Faculty Heads of Administration and Finance, the University’s Director of Finance and other senior managers as a partner in Divisional financial strategy, decision-making and management. Specific responsibilities and areas include:
- Work with the Divisional Head and Head of Administration to develop strategic models which achieve financial sustainability in the medium/long term.
- Ensure that these models are properly understood by key divisional stakeholders and proper mechanisms exist for monitoring progress.
- Ensure that the Humanities Division’s financial objectives are achieved.
- Ensure Finance Division’s Strategic Plan and objectives are achieved. (The Division’s Financial Controller is a member of Finance Division’s Operations Board).
- Ensure that the use of appropriate financial information and key performance indicators is embedded in decision making at divisional level and supports senior officers of the University in implementing financial strategies.
- Provide templates and data to faculties and divisional committees to support financial reporting and forecasting; analysing data to identify trends, opportunities and risks. Examples include:
- annual budget setting,
- quarterly financial forecasting,
- medium term financial planning (faculties’ and Division’s strategic plans and objectives expressed in clear, accurate and cohesive financial terms),
- year–end financial reporting,
- data analysis provided for Externally Funded Research Grants, Trust Funds, Donations, Centrally funded projects (eg John Fell awards), Departmental Projects, Payroll and Transactions.
- key data set.
- Consolidate Faculties’ submissions to report the Division’s position. Consider whether divisional overlays are required. Prepare and submit Humanities Division’s financial reports, including analysis of variances to Central Finance/PRAC.
- Report divisional financial position to Divisional Head and Head of Administration, Humanities Planning and Resource Committee (HPRC) and Central Finance.
- Work with faculties and divisional committees to continually improve financial processes and decision making through use of scrutiny/review meetings and by responding to feedback. Examples include:
- monthly meeting between Faculty Heads of Administration and Finance, Faculty Finance Officers and Divisional Finance Manager (DFM);
- Quarterly review meetings between Faculty Board Chair, Divisional Financial Controller (DFC) and Faculty Head of Administration and Finance;
- Annual budget scrutiny meeting with Head of Division, Head of Administration, DFC, DFM, Chair of Faculty Board and Head of Administration and Finance.
- Provide shared faculty resource to support the financial administration and management of externally funded research grants.
- Provide divisional advice and guidance.
- Provide divisional training and support to staff at all levels within the Humanities Division. As part of this, the Division holds a termly finance meeting for Faculty Administrators and Faculty Finance Officers.
- Ensure that financial best practice is embedded in the Division, whilst being sympathetic to its needs and the context of its operations.
- Point of contact for internal auditors.
- Raise the professional image and standing of the finance function and the expertise of the Finance Division in particular.
- In 2016-17 a new budgeting and forecasting system has been implemented, and incorporating faculty payroll models as well and income and expenditure templates.
- This represents a major change moving from Excel spreadsheets to web based system. The Division’s Finance team is supporting faculties in adapting to new business processes and changes in roles.
