Cwm Taf Morgannwg University Health Board
Senior Finance Officer - Losses
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Role Overview
The post holder will be responsible for all processes on the recording and accounting for losses in line with accounting standards, Manual of Accounts and Control Procedures, and for the management of the Losses and Special Payments Register (LASPAR) system.
Key Responsibilities
- Ensure accurate calculation of provisions for claims, costs, defence fees and Risk Pool reimbursement arising from legal advisors’ quantums; all payments/receipts made against such provisions and the reconciliation of those provisions, payments and receipts to the General Ledger.
- Assist in the completion of all losses notes within the Annual Accounts and subsidiary statements, and quarterly losses reports to the Audit Committee, and liaise with Audit losses issues.
- Ensure all required Welsh Risk Pool Returns are submitted in the required format and within strict deadlines, and support the Claims team in ensuring all Redress payments are captured and submitted for reimbursement in from Welsh Government.
- Provide ad hoc support for the work of other members of the Financial Accounting Team as required, and deputise during the absence of the Financial Accountant on all aspects of that post pertaining to losses, appropriate to the banding.
Losses Accounting
- Ensure that the losses accounting process complies with the requirement in the Manual of Accounts, and that all losses are recorded appropriately within LASPAR in accordance with this Manual.
- Ensure that monthly quantums received from Legal Advisers for Medical Negligence and Personal Injury claims are analysed and provisions made within LASPAR in accordance with accounting standards, resulting in the calculation of the UHB’s Financial Liability for Losses and Special Payments (including monthly submissions to the Welsh Risk Pool).
- Ensure monthly reconciliations are maintained between LASPAR and the General Ledger, and that provisions/payments are entered on correct ledger codes. Reconciling items must be followed up and, where possible, cleared within the following month.
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Losses Reporting
- Assist in the production of all losses statements within the Annual Accounts and subsidiary returns, ensuring that they reconcile with the ledger and LASPAR.
- Assist in the production of losses information for Audit Committee.
About Us
Cwm Taf Morgannwg (CTM) University Health Board, part of NHS Wales, serves a large population across a diverse and beautiful region, steeped in history and heritage. With nearly 13,500 staff, our health board is one of Wales’s largest employers.
Together, we are Team CTM; a workforce dedicated to offering excellent patient care and support to the 450,000 people across our three regions, Bridgend, Merthyr Tydfil, and Rhondda Cynon Taf. We operate three District General hospitals, several community hospitals, primary and community care facilities.
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CTM’s location offers the best of South Wales, just 20 minutes from Cardiff’s vibrant city life, the natural beauty of the Brecon Beacons, and the serene coastline at Ogmore. Whether you enjoy lively urban amenities, peaceful countryside, or seaside escapes, our location makes an ideal setting for both work and personal life.
Our CTM 2030 Strategy—Our Health, Our Future—focuses On Uniting Our Region Around Shared Health And Wellbeing Goals.
Our Values
- We listen, learn, and improve
- We treat everyone with respect
- We work together as one team
Benefits
CTM employees enjoy benefits including; a leading pension, generous leave, flexible work, career growth, and access to ongoing learning and development.
At CTM, you’ll find a welcoming, team-oriented workplace that values diversity and compassion, where you can take pride in your work and the difference it makes.
Contact
For further details / informal visits contact:
- Name: Lianne Cooper
- Job title: Financial Accountant
- Email address: lianne.cooper@wales.nhs.uk
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