Summary
Overview
Work history
Education
Skills
Timeline
Generic

RHODIA MAKONYOLA

Cheam,Surrey

Summary

An accomplished finance professional with years of experience and expertise in financial management and a CIMA qualified Accountant. Has acquired skills and knowledge in business case development, financial forecasting, a proven track record in annual budget setting, in line with organisational strategic goals, facilitating cost improvement initiatives, efficient business partnering, effective leadership skills, and board reporting.

Overview

25
25
years of professional experience
16
16
years of post-secondary education

Work history

Interim Head of Finance

London North West NHS Trust
01.2023 - Current
  • Leading on the production of monthly financial reports including variance analysis and forecasting information for the Divisional and the Executive teams.
  • Lead and ensure that budgets are developed to take account of strategic plans, including the identification and communication of financial pressures and risks associated with the delivery of the Division’s financial framework within the context of the annual budget setting process, modelling service developments, changes to commissioning intentions and activity fluctuations that impact the overall Trust position.
  • Lead on strategic business cases ensuring that the costs, benefits, risks and income and expenditure of such schemes are fully understood and prepared for presentation to the Board or relevant Committee for approval.
  • Coordinating and providing financial analysis for benchmarking returns; to include the Corporate benchmarking and the ERIC return.
  • Lead on the preparation of divisional forecasts. Work with the divisional management teams and the contracting and income team to ensure assumptions are challenged and that the forecast is robust, accurate, deliverable and owned by relevant stakeholders.
  • Supervise a team which includes Senior Finance Managers, Senior Management Accountants and Management Accountants.
  • Participate (with the operational team) in the establishment of Cost Improvement Plans (CIP), sizing up the opportunities, monitoring and reporting delivery on a monthly basis.
  • Present the financial position at Divisional and Executive review meetings; to include Clinical, Corporate and R&D.
  • Understand and present Service Line profitability to the division. Support and input into the Division’s decision making based on the service line position.
  • Complete financial returns for grants as well as final grant reconciliations
  • Attend regular budget holder meetings

Interim Head of Finance

West Hertfordshire Teaching Hospitals NHS Trust
04.2021 - 01.2023
  • Lead the divisional annual budget setting process.
  • Produce and maintain monthly financial forecasts.
  • Preparation of executive finance reporting packs for Directorates and Finance Management, and contribution to Trust Board reporting.
  • Preparing detailed analysis to identify and resolve issues and ensuring clean and accurate accounts are maintained and understood by operations.
  • Undertake a comprehensive analytical review of monthly financial position.
  • To provide professional financial and commercial information to managers within the division, for the preparation of revenue business cases.
  • Assist the senior divisional team in identifying and achieving cost improvements.
  • Provide input as required to the Trust’s statutory financial reports.
  • Provide financial support to the Operational divisional leadership.
  • Management of the Corporate Finance team.

Interim Finance Manager / Business Partner

Imperial Healthcare NHS Trust
10.2020 - 03.2021
  • Support the annual business planning round.
  • Produce and maintain rolling financial forecasts.
  • Preparation of executive finance reporting packs for Directorates and Trust Committees.
  • Preparing detailed analysis to identify and resolve issues and ensuring clean and accurate accounts are maintained and understood by operations.
  • Undertake a comprehensive analytical review of monthly financial position.
  • Working with Procurement services to identify savings, producing a workplan, validate savings and ensure savings are reflected in financial forecasts and plans.
  • Reviewing accounting accruals and adjustments input by the Financial Accounting team and prepare any journals to finalise the financial position.
  • Maintain staff establishment reports.
  • Provide financial support to the Operational divisional leadership.
  • Review managed service contract financial performance and liaising with relevant stakeholders.

Interim Finance Business Partner

South West London Pathology Services – St George’s NHS Trust
01.2019 - 08.2020
  • Leading the annual budgeting process, both revenue and capital.
  • Financial forecasting for the network and following up on risks and mitigation.
  • Monthly Review of capital expenditure to ensure that spend is in line with plan.
  • Provide monthly financial position update to the Operational Director and Managers.
  • Produce monthly income and expenditure accrual data for processing.
  • Maintain relations with key suppliers for Managed Contract Services for contracts; review contract performance and liaising with relevant stakeholders, accordingly.
  • Review of cost and prices for existing tests as well as costing and pricing new tests.
  • Supporting the development and reporting of financial efficiency savings (CIP).
  • Costing and pricing new tests.
  • Train Operational Managers in financial management.
  • Deal with queries from departmental staff and advise accordingly; ensuring that the Business Partnering culture is embedded across the network.

Interim Deputy Head of Financial Performance Management

Royal Holloway University of London
05.2018 - 12.2018
  • Lead the budget process, forecasting, management accounts, monthly commentaries, relevant year-end processes and maintenance of the staff establishment.
  • Driving efficiency to ensure maximum value for the College in order to minimise financial risk.
  • Oversee financial performance (revenue, capital and cash) of the Professional Services.
  • Provide day to day financial support to the Professional Services Directors and the Chief Operating Officer.
  • Improvement of the quality of financial information disseminated to support Strategic values.
  • Attend and present, monthly, a financial position to the IT Strategic Project Committee, for capital projects.
  • Assist in the development of business cases for investments.
  • Supervise the work of 2 Financial Performance Management Assistants

Finance Business Partner

Croydon Health Services
03.2016 - 03.2018
  • Producing a monthly financial position that has integrity and accuracy.
  • Producing monthly variance analysis for the Directorate.
  • Overseeing the production of monthly budget statements, variance analysis and associated monthly budgetary information.
  • Coordinating the production of Directorate’s financial forecasts.
  • Provide financial input into the Directorate or Trust wide business cases, working with both financial and operational managers.
  • Supporting the development and reporting of Cash Releasing Efficiency savings (CIPS/QIPP).
  • Line Manage the directorate’s finance team.
  • Further developing cost awareness by identifying and quantifying key cost drivers and being able to model the implications of changes in activity on these.
  • Lead the annual and periodic Business Planning processes in conjunction with budget holders and Associate Director of Finance for the Directorate, endeavouring to ensure that resultant targets (both financial and non-financial) are realistic and are, firstly, fully understood by budget holders and secondly, are congruent with Trust targets and activity plan.
  • Deal with queries from Directorate staff and advise accordingly.

Head of Corporate Accounting

The institute of Cancer Research
05.2013 - 03.2016
  • Being the first point of contact for Corporate Directors, budget holders and student supervisors.
  • The provision of accurate financial information to Corporate and Academic budget holders and senior management.
  • Documenting key variances and providing narrative for inclusion in board of executive reports.
  • Following up on both favourable and adverse variances with managers and agreeing on a course of action.
  • Ensure that annual budgets and five year projections are set in a timely manner, according to the budget timetable.
  • Ensuring that quarterly forecasts are up to date with the view to inform the year end outturn.
  • Meet with budget holders on a monthly basis to review all key movements to their financial information.
  • Working with service managers to establish pricing for services rendered to the scientific divisions and conduct annual price reviews.
  • Train new staff on the use of financial system especially reading their real time financial reports and the monthly financial reports.
  • Coordinating the month end processes for the whole department, ensuring that the month end timetable is adhered to.
  • Provide costing for studentship grant applications.
  • Maintain studentship grants by conducting annual grant reconciliation, for each grant, setting up annual budgets and making sure that funder reporting requirements are adhered to. Monitor spend so that there are no overspends and ensuring that income from funders is received as per pre set income schedule.
  • Ensuring that budget holders have reports that are relevant to their needs and where necessary help them design, ensure they are developed, implemented and signed off.
  • Participate in year end processes e.g. assisting with the establishment of funds held in general reserves.
  • Attend various departmental meetings to educate staff and provide relevant financial updates.
  • Liaise with internal and external auditors.
  • Manage one assistant management accountant.

Management & Subsidiary Accountant

St George’s University of London
08.2011 - 05.2013
  • Provide financial support and reporting for the International activity which has been established through a joint venture with INTO University Partnerships.
  • Preparation of monthly high level management accounts at institutional level.
  • Investigate any substantial adverse variances throughout the year and prepare variance analysis of actual versus forecast results at the year end.
  • Preparation of the Institution’s financial five-year forecasts.
  • Check business plans for new courses for reasonableness before validation.
  • Production of key components of the Transparent Approach to Costing (TRAC).

Management Accountant

St George’s University of London
04.2007 - 07.2011
  • Preparation of annual recurrent (non-research) and staff cost budgets for the Academic Divisions.
  • Monitor budgets by ensuring that budget holders are operating within their budgets.
  • Resolve with budget holders any overspends on individual budgets.
  • Preparation of monthly high-level management accounts at institutional level.
  • Provide financial information to inform the Institution’s five-year forecasts.
  • Check business plans for new courses for reasonableness before validation.
  • Production of key components of the Transparent Approach to Costing (TRAC).
  • Preparation of key Financial Indicators for the Director of Finance and Senior Management.
  • Maintain staff costs forecasts for the Academic divisions.
  • Liaise with the Human Resources department on staffing issues.
  • Ensure that appropriate budgetary control is in place and efficient and effective.
  • Ensure that all Budget holders are aware of financial regulations and their financial responsibilities.
  • Regularly monitor discretionary accounts
  • Provide financial information to the Resource Allocation Model (RAM).
  • Assist with the preparation of annual Statutory accounts and liaise with external Auditors.
  • Liaise with Internal auditors.
  • Process the monthly payroll journal.

Assistant Management Accountant

St George’s University of London
06.2006 - 03.2007
  • Assist with the production of management accounts.
  • Preparation of annual recurrent (non-research) and staff cost budgets in conjunction with the planning process.
  • Deal with Budget holder queries.
  • Assist with the preparation of the 5-year forecasts.
  • Reconcile payroll control Accounts.
  • Liaise with Internal and external auditors.
  • Regularly monitor discretionary accounts.
  • Process nominal ledger journals.
  • Assist with the audit file at year end for external auditing.

Accounts Payable Supervisor

St George’s University of London
10.2001 - 05.2006

Accounts Assistant

St George’s University of London
01.2001 - 09.2001

Accounts Assistant

Capita Business Services
11.2000 - 12.2000

Education

Associate Chartered Management Accountant - Accountancy

Chartered Institute of Management Accountants (CIMA)
01.2003 - 01.2007

Degree in Accounting -

University of Malawi- The Polytechnic
01.1989 - 01.1997

‘O’ Levels - undefined

St Michael’s Girls Secondary School
01.1989 - 01.1993

Skills

  • Financial analysis
  • Business case development
  • Financial Forecasting
  • Annual budget setting
  • Finance team management
  • Board reporting
  • Cost-reduction strategies

Timeline

Interim Head of Finance

London North West NHS Trust
01.2023 - Current

Interim Head of Finance

West Hertfordshire Teaching Hospitals NHS Trust
04.2021 - 01.2023

Interim Finance Manager / Business Partner

Imperial Healthcare NHS Trust
10.2020 - 03.2021

Interim Finance Business Partner

South West London Pathology Services – St George’s NHS Trust
01.2019 - 08.2020

Interim Deputy Head of Financial Performance Management

Royal Holloway University of London
05.2018 - 12.2018

Finance Business Partner

Croydon Health Services
03.2016 - 03.2018

Head of Corporate Accounting

The institute of Cancer Research
05.2013 - 03.2016

Management & Subsidiary Accountant

St George’s University of London
08.2011 - 05.2013

Management Accountant

St George’s University of London
04.2007 - 07.2011

Assistant Management Accountant

St George’s University of London
06.2006 - 03.2007

Associate Chartered Management Accountant - Accountancy

Chartered Institute of Management Accountants (CIMA)
01.2003 - 01.2007

Accounts Payable Supervisor

St George’s University of London
10.2001 - 05.2006

Accounts Assistant

St George’s University of London
01.2001 - 09.2001

Accounts Assistant

Capita Business Services
11.2000 - 12.2000

Degree in Accounting -

University of Malawi- The Polytechnic
01.1989 - 01.1997

‘O’ Levels - undefined

St Michael’s Girls Secondary School
01.1989 - 01.1993

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RHODIA MAKONYOLA