The Role of Hackney Council’s Finance Director

The Finance Director of Hackney Council holds a pivotal position, responsible for managing and safeguarding the council’s financial resources and ensuring its long-term financial sustainability. It’s a role that demands a blend of technical expertise, strategic thinking, and strong leadership.

At its core, the Finance Director’s job revolves around ensuring sound financial management. This encompasses a wide array of responsibilities, including:

• Budget Setting and Management: Leading the development and implementation of the council’s annual budget, ensuring it aligns with the council’s strategic priorities and reflects efficient resource allocation. This involves meticulous planning, forecasting, and collaboration with various departments.
• Financial Reporting and Compliance: Overseeing the preparation of accurate and timely financial reports, ensuring compliance with all relevant accounting standards and regulations. This includes statutory accounts, budget monitoring reports, and performance reports.
• Financial Control and Risk Management: Establishing and maintaining robust financial controls to protect the council’s assets and prevent fraud. This involves identifying and mitigating financial risks, and ensuring appropriate segregation of duties.
• Investment and Treasury Management: Managing the council’s investments and treasury functions, ensuring optimal returns while minimizing risk. This requires a deep understanding of financial markets and investment strategies.
• 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 often involves conducting value for money reviews and identifying opportunities for savings.
• Strategic Financial Advice: Providing expert financial advice to the Chief Executive, elected members, and other senior officers on all financial matters, supporting informed decision-making. This includes assessing the financial implications of new policies and initiatives.

In the context of local government, the Finance Director’s role extends beyond mere number crunching. They play a crucial role in shaping the council’s strategic direction and ensuring it can meet the evolving needs of its community, particularly in a challenging economic environment. Hackney Council, like many local authorities, faces increasing demand for services, coupled with ongoing budget pressures. Navigating this landscape requires innovative financial solutions and a commitment to efficiency.

The Finance Director acts as a key advisor on matters such as council tax levels, business rates, and government funding. They must be adept at advocating for the council’s financial interests and securing necessary resources.

Furthermore, the Finance Director is a leader. They manage a team of finance professionals, fostering a culture of excellence and continuous improvement. They are also responsible for building strong relationships with external stakeholders, including auditors, regulators, and other government agencies.

Ultimately, the success of Hackney Council’s Finance Director depends on their ability to provide sound financial leadership, ensuring the council remains financially sustainable and able to deliver essential services to its residents in a responsible and efficient manner.