Haringey Director Of Finance

The Director of Finance at Haringey Council is a pivotal role, responsible for the strategic financial management of the entire local authority. This individual is a key figure in ensuring the council’s financial stability, sustainability, and compliance with all relevant regulations and legislation.

The Director leads a team of finance professionals, overseeing a broad range of functions including budget preparation and monitoring, financial accounting, treasury management, risk management, and procurement. They are the principal advisor to the Chief Executive, elected members (councillors), and senior management on all financial matters, providing expert counsel to inform decision-making across all council departments.

One of the most significant responsibilities is the development and implementation of the council’s Medium Term Financial Strategy (MTFS). This involves forecasting future income and expenditure, identifying potential funding gaps, and developing strategies to address these challenges. The MTFS must be robust, realistic, and aligned with the council’s overall strategic objectives. This strategy is usually updated annually and requires navigating complex pressures from central government funding allocations, local demand for services, and the economic climate.

Budget management is another critical area. The Director of Finance is responsible for ensuring that budgets are allocated effectively and efficiently, and that spending remains within agreed limits. This requires close collaboration with departmental heads to understand their financial needs and priorities, while also challenging spending proposals to ensure value for money. Robust monitoring and reporting mechanisms are essential to track financial performance and identify any potential overspending or underspending.

Maintaining sound financial controls is paramount. The Director must ensure that robust systems and processes are in place to prevent fraud, error, and waste. This includes adhering to best practice in financial accounting and reporting, and ensuring compliance with relevant legislation, such as the Local Government Act 2003 and the CIPFA Code of Practice on Local Authority Accounting. Effective risk management is also crucial, identifying and mitigating financial risks that could impact the council’s financial stability.

In addition to internal responsibilities, the Director of Finance represents Haringey Council in external forums, such as meetings with central government officials, external auditors, and other stakeholders. They are responsible for building strong relationships with these stakeholders to ensure that the council’s financial interests are protected. The role also involves securing external funding and investment to support the council’s priorities.

Ultimately, the Director of Finance plays a crucial role in ensuring that Haringey Council can effectively deliver services to its residents and achieve its strategic objectives, while maintaining sound financial management and accountability.