Director Of Finance Hackney - Managing Finances

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The Director of Finance at Hackney Council plays a pivotal role in shaping the financial stability and strategic direction of the borough. This individual, a statutory officer also often holding the title of Section 151 Officer, is responsible for the proper administration of the council’s financial affairs, ensuring value for money, and providing sound financial advice to elected members and senior management.

Their remit is extensive, encompassing budget setting, financial planning, accounting, treasury management, and risk management. The Director oversees the preparation of the annual budget, a complex undertaking that requires balancing the needs of residents with available resources and statutory obligations. They must navigate fluctuating funding streams from central government, increasing demand for services like social care and housing, and the imperative to maintain essential infrastructure.

Beyond the annual budget, the Director is also responsible for developing and implementing a robust Medium-Term Financial Strategy (MTFS). This forward-looking plan outlines the council’s financial priorities and sustainability over a three-to-five year period, enabling proactive decision-making and resource allocation. The MTFS considers projected income, expenditure, and potential risks, allowing the council to anticipate challenges and opportunities.

A key aspect of the role is ensuring compliance with financial regulations and best practice. The Director is accountable for maintaining a sound system of internal controls, safeguarding assets, and preventing fraud and corruption. They must also ensure that the council’s financial statements are accurate, transparent, and compliant with relevant accounting standards. The role involves collaborating closely with internal and external auditors to ensure effective governance and accountability.

The Director of Finance is a strategic advisor to the Chief Executive and elected members, providing expert counsel on the financial implications of policy decisions. They attend cabinet meetings and other key decision-making forums, offering insights and recommendations that inform strategic planning. They play a critical role in identifying and pursuing opportunities for efficiency savings, income generation, and innovative financing models. They need to understand the political landscape and have excellent communication and influencing skills.

Hackney’s Director of Finance faces unique challenges and opportunities. As a diverse and dynamic borough, Hackney experiences significant growth and change. The Director must ensure that the council’s financial resources are used effectively to support sustainable development, improve resident outcomes, and address inequalities. This requires a deep understanding of the borough’s socio-economic context, strong analytical skills, and a commitment to public service.

In conclusion, the Director of Finance at Hackney Council is a highly influential figure responsible for the financial health and strategic direction of the borough. They are a strategic thinker, a financial expert, and a trusted advisor who plays a vital role in ensuring the council delivers high-quality services and achieves its ambitions for the community.