The Role of Finance Director at Northumberland County Council

The Finance Director of Northumberland County Council is a critical leadership role responsible for the sound financial management and stewardship of public funds. This individual provides strategic financial advice to the Chief Executive, elected members, and senior management team, ensuring the council operates within its budget, delivers value for money, and meets its statutory financial obligations.

Key Responsibilities

• Strategic Financial Planning: Leading the development and implementation of the council’s medium-term financial plan, aligning resources with the council’s priorities and objectives as outlined in the council plan. This involves forecasting future financial challenges and opportunities, such as changes in government funding, demographic shifts, and economic conditions.
• Budget Management: Overseeing the preparation and management of the council’s annual budget, ensuring that resources are allocated effectively and efficiently across all departments and services. This includes monitoring spending against budget, identifying potential overspends or underspends, and taking corrective action as necessary.
• Financial Reporting: Ensuring the timely and accurate preparation of financial statements and reports, in accordance with relevant accounting standards and regulations. This includes presenting financial information to elected members, external auditors, and the public.
• Risk Management: Identifying and managing financial risks facing the council, such as fraud, financial mismanagement, and non-compliance with regulations. This involves developing and implementing robust internal controls and risk management procedures.
• Investment Management: Managing the council’s investments in a prudent and responsible manner, ensuring that they generate a reasonable return while minimizing risk. This includes developing and implementing an investment strategy that is consistent with the council’s financial objectives.
• Value for Money: Promoting a culture of value for money across the council, ensuring that resources are used effectively and efficiently to deliver high-quality services to residents. This involves undertaking value for money reviews, identifying areas for improvement, and implementing efficiency savings.
• Leadership and Management: Providing leadership and management to the finance team, ensuring that they have the skills and resources they need to perform their roles effectively. This includes developing and implementing training programs, mentoring staff, and promoting a positive and supportive work environment.

Accountability and Oversight

The Finance Director is the Section 151 Officer for Northumberland County Council, as designated by the Local Government Act 1972. This means they have a statutory duty to ensure the financial solvency of the council. They are directly accountable to the Chief Executive and elected members for the proper management of the council’s finances. External audit provides independent scrutiny and oversight of the council’s financial performance.

Challenges and Opportunities

The Finance Director faces significant challenges, including managing increasing demand for services with limited resources, navigating complex funding arrangements, and ensuring financial sustainability in the face of economic uncertainty. However, the role also presents opportunities to drive innovation, improve efficiency, and deliver better value for money for residents.