Finance staff working in NHS and Social Care settings ensure that budgets are spent wisely for the benefit of patient care and that public funds are used to deliver healthcare services.
Working in finance involves a wide variety of tasks from payroll and accounting to budgeting, procurement or financial management.
Working life
Working as part of the Finance team means that you could have a number of key responsibilities including:
- Payroll – Ensuring staff are paid accurately and on time.
- Accounting – Managing payments for goods and services, and tracking financial transactions.
- Procurement – Purchasing goods and services for the NHS, often following specific guidelines and policies.
- Budgeting – Setting and managing budgets for various departments and projects.
- Financial Reporting – Preparing financial reports, analysing data, and providing insights for decision-making.
- Audit and Compliance – Ensuring compliance with financial regulations and internal controls.
- Financial Management – Managing the overall financial health of the NHS organisation, including resource allocation and financial planning.
Finance roles have different titles. Some titles reflect the type of job and the level of responsibility, for example
- accounts assistant or accounts payable clerk
- ledger controller
- finance officer or procurement officer
- finance clerk or finance assistant
- accounting technician or management accountant
- financial analyst
- payroll manager, finance director or head of finance
Finance staff may be based in office areas of hospitals and health centres or in headquarters buildings. They work closely with admin staff and others in the wider healthcare team. They may also work with clinical and non-clinical managers. Most finance staff have little or no contact with patients.
Requirements
Although there is no set entry route, you could enter as a finance trainee and study while you work or you may join the organisation with a relevant finance qualification in a more senior role.
To enter as a finance trainee, you usually need at least 2 GCSEs including English and maths, or equivalent. Employers may also ask for IT skills. They may expect some customer service or office experience. There are also apprenticeships in finance departments.
If you join the NHS with a finance qualification this could be one with no set entry requirements such as
- an AAT (Association of Accounting Technicians) Certificate or Diploma
Or you can study at a higher level, for an accountancy qualification awarded by one of the member bodies of the CCAB (Consultative Committee of Accountancy Bodies) for example
- CIPFA (Chartered Institute of Public Finance and Accountancy) Professional Qualification – you need two A levels and three GCSEs (or equivalent qualifications) including maths and English
- a degree in, for example, accounting or accounting and finance
It is important to check with your employer regarding the accountancy qualifications that they support.
For an accounting degree, you usually need
- two or three A levels, including maths, along with five GCSEs (grades A-C), including English language and maths
or alternative qualifications, including
- BTEC or HNC which includes maths or business
- relevant vocational qualifications
- access course which includes maths
- equivalent Scottish or Irish qualifications
However, each institution sets its own entry requirements, so it’s important to check carefully.
If you have a degree in a non-finance subject, you can apply for the NHS Graduate Management Training Scheme and work towards professional accountancy qualifications.
Find out more about the NHS Graduate Management Training Scheme
NHS Finance Insights placement scheme
The NHS Finance Insights placement scheme offers paid NHS work experience to year 13 students from lower socio-economic backgrounds, studying at a state sixth form or college and are not planning on going to university. It provides a 12-month experience in an entry-level finance role, helping you to develop new skills and gain on-the-job work experience.
Personal characteristics
To work successfully within the Finance team, you need to consider your own personal characteristics. You would need to have the following attributes or similar:
- Be accurate and methodical and have good attention to detail
- Be able to work as part of a team but also able to use your own initiative
- Be willing to follow procedures and take instruction from senior team members
- Be able to work with all people from various backgrounds with different experiences
- Be interested in figures and money
- Be able to work well under pressure
- Be honest
- Be able to work to deadlines
- Be able to use IT based systems
Skills required
To work successfully within the Communications and Public Relations team, you need to consider the skills that you have. You would need to demonstrate the following:
- Be well organised and able to plan your time
- Be able to communicate with a variety of people using different methods
- Have positive customer service skills
- Have excellent numeracy skills
- Have excellent IT skills
Training and development opportunities
Finance staff are encouraged to take further qualifications. They can become members of the Association of Accounting Technicians. Once qualified, finance staff can apply to become
- chartered accountants with ICAEW (Institute of Chartered Accountants in England and Wales)
- chartered public finance accountants with CIPFA (Chartered Institute of Public Finance and Accountancy)
Those on the NHS Graduate Management Training Scheme will study for CIPFA qualifications.
Finance staff can also become members of the Healthcare Financial Management Association (HFMA). HFMA organises conferences and events where staff can keep up to date and network with others and provides e-learning to update skills.
Career development opportunities
When you start the job, you will be given the training you need including an introduction to the finance department and its systems and procedures.
With experience, finance staff can become team leaders supervising the work of other colleagues. They can progress on to become managers who are responsible for a specific department or area or can progress to senior roles such as Head of Finance or Finance Director.
Pay and benefits
Finance team members usually work around 37.5 hours per week. Depending on the role and the setting you work in, you may be required to work evenings or weekends when required.
Finance team members in the NHS are paid using the Agenda for Change (AfC) system and will typically start their career on AfC band 2 or 3 but with experience, further training and additional qualifications, can progress further up the pay scale. It is also possible to apply for more senior positions at bands 4 and 5 if you already have qualifications and experience from another sector.
Other benefits of working within the Finance team include access to a pension scheme, health service discounts such as a Blue Light Card and 27 days of annual leave in addition to bank holidays.