Finance Management

The Chief Financial Officer and the Finance Leadership Team are responsible for finance at the University

 

flt structure

 

The Finance Leadership Team (FLT) is led by the University's Chief Financial Officer, and comprises Directors of specific areas of University Finance. The Finance Leadership Team's responsibilities include: providing advice to Council, Pro-VCs and key committees on financial strategy; ensuring the University has established, clear financial processes, controls and accounting standards and supporting departments and divisional teams in operational delivery as well as production of the University’s financial statements, operating plans and forecasts.

The individual members of FLT have many and varied responsibilities, some of which are outlined below. They often work across teams and disciplines to meet the needs of the University as the responsibilities of FLT as a whole require.

 

Positions within FLT

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The Chief Financial Officer is ultimately responsible for the finances of the University. They oversee the FLT to ensure it is meeting its responsibilities, and also act as Head of Department for the Finance Division as a University Department.

The Director of Financial Planning and Analysis is responsible for financing stable growth across the University, ensuring the quality of reporting to committees and the implementation of the financial White Paper. They oversee a central Financial Planning and Analysis team within the Finance Division as well as the Divisional Financial Controllers.

The Director of Finance Operations is responsible for delivery of core services and a support framework for Departments, as well as managing Processes & Improvements and chairing the Process Oversight Groups and User Groups (POGs and PUGs). They directly oversee many teams within the Finance Division, including Financial Processes Systems & Assurance, Payroll and Pensions, Gift Registry and Payments, Research Accounts, Credit Control, and also Finance Division Admin.

The Director of Financial Reporting is responsible for delivering statutory accounts, delivery of the annual external audit and improving the quality of reporting across the University. They oversee the Financial Reporting, Fixed Assets and Company Secretarial Team, as well as the Subsidiary Accounting Teams.

The Director of Purchasing is responsible for all purchasing activity in the University. This includes securing savings, delivering the purchasing strategy and growing shared purchasing. They manage the University Purchasing Team.

The Director of Commercial Capital Finance is responsible for Tax and Capital Projects, Trust Management and Global Mobility including Tax and Employment issues. They oversee the Tax, Insurance, Treasury and Cashiers Teams

As a whole, the Finance Division has the following main areas of responsibility to the wider University:

  • Strategy: provides advice to Council, Pro-VCs and key committees on financial strategy.
  • Financial processes: establishing financial processes, controls and accounting standards.
  • Support: providing advice and information to departments and divisional teams; financial training; and communications.
  • Operational delivery: purchasing, supplier payments, payroll, expense payments, petty cash, accounts receivable, financial systems maintenance and training in line with financial processes and systems of control.
  • Professional services: oversight of capital planning and treasury management, purchasing, insurance, tax and pensions.
  • Reporting: preparation of overall financial statements, operating plans and forecasts, management accounts, planning and analysis at University level.
  • Audit and assurance: liaison with external audit; as appropriate, liaison with internal audit. Provides assurance over processes and controls, and that the University is operating in line with the Regulations. Implement recommendations by the agreed date as appropriate.

It is the job of the FLT and ultimately the Chief Financial Officer to ensure that these responsibilities are being met. 

Contact us

: Finance Division
       University of Oxford
       c/o Oxford University Press
       Great Clarendon Street
       Oxford, OX2 6DP

 :  finance.oup@admin.ox.ac.uk

 :  01865 (6) 16215