EoE Academy Board Blog: Keith Wood

Finance Development Blog

After a five-year stint working for one of the major accountancy firms, I joined the NHS for a career that ended up spanning over three decades. Personal development in the accountancy firms was very much handed to you on a plate. It became very apparent early on that in the NHS it’s much less of a fait accompli. My first boss was a very keen advocate of the Healthcare Financial Management Association (HFMA) and encouraged his senior team to join. To be honest, I was initially non-plussed; I joined only because my boss said to. But my boss went further than that, he wanted us to get actively involved. And that became one of the smartest decisions that I ever made. And it continues to pay dividends today.

I was encouraged to join the local branch committee; that was the thin end of a very large wedge. In the position that I was in within my NHS organisation, I was always going to be involved in staff appraisal, development plans and internal training. I developed local business case production and budget management sessions: these were the days before online learning and training was a face-to-face thing. But engagement at HFMA branch level brought the opportunity to develop programmes that extend beyond organisational boundaries. It also sparked the creation of a network of individuals who were trying to deliver the same as you. We shared ideas and frankly supported each other in difficult times. I fell into accountancy when I left university. In retrospect I wasn’t a natural fit, although I have no regrets on that decision made 38 years ago. But I was always a little more creative and problem-solving than the average bean-counter, and the finance development side was an opportunity to be more constructive and creative. I’d like to say that I did it for altruistic reasons; to give back. But the reality is it was actually a fun side of work.

The thin end of the wedge grew chunky quickly. I became actively involved in several HFMA national committees, one of which I went on to chair for six years, presenting at several national events. My network grew. From a career perspective the roles, networks and products (like author’s credit for a couple of versions of the Introductory Guide to NHS Finance) bolstered my CV and allowed me to apply for roles. In one case the Intro Guide even created celebrity. I remember walking into one organisation for the first time to be asked if I was ‘the’ Keith Wood. I replied no, assuming that they were referring to the then recently retire Ireland, and British and Irish Lions rugby union captain. No, cane the response; the one the that writes the book. That, I believe, was my one and only autograph. With a heightened profile and enhanced CV, I spent just under a decade a director of finance, suddenly responsible for a large team that looked to me to support their development. I took the role of staff development very seriously, and to this day I list staff development at West Midlands Ambulance Service NHS Trust as my single greatest achievement. Faced with pulling together four finance departments, none of which wanted an FD ‘parachuted in’ from outside, I met with every member of my finance team; not just my line managers, to establish what their skills were, what they wanted to do, and what they needed to get there. I admit I got lucky, what they wanted an what I needed was a near perfect fit. And therein lay the basis of the strongest most cohesive team that I ever had the privilege of leading. Specialists, doing what they wanted to do, knowing their role and knowing that they were valued. There’s an old Richard Branson quote that works well here – Develop your staff so that have the ability to leave; but treat them so they don’t want to. Staff turnover was negligible, and those that did leave did so for the right reasons. Collectively we addressed the deficit, delivered recurrent break-even, and became the best performing ambulance trust in the country.

Again, to return to the issue; I know that I’m no philanthropist. Finance development benefited me directly. I’ve been to Washington state, New York, Belfast, and attended conferences and events for which neither me nor my organisation have had to pay a penny. I know that won’t work out for everybody that engages in staff development, but you will have opportunity to influence the training agenda and at the same address your own training and continuing professional development (CPD) needs. And you might just enjoy it and benefit from it. For those that climb the ladder there is a responsibility to ensure that the ladder is in good shape when you leave; that you have developed others to take your place. Frankly, you should scarcely be noticed when you leave if you’ve got it right.

And so to my dotage. I left the NHS full-time in May 2024, and completely in March 2025. But that is not the end of the staff development journey. A couple of days a week, potentially for the next few years (while my experience remains current, or until they get bored of having me), I write for HFMA. Researching subjects, filtering using my own experience, and accessing my old networks, hopefully helping ‘the next generation’.  There’s a huge talent pool out there, with skills that I can only dream of possessing. The challenge will be to help them achieve their potential. It’s the first time technically that staff development has paid me a penny. But the reality in terms of what is has given me couldn’t be further from the truth. Get involved!

Here’s a few easy ways to get involved: 

If your role is band 2-6 why not join our reference group that organises events specifically designed for this group?  Contact linda.goodey@snee.nhs.uk to become part of this friendly, informal group that makes helps ensure local HFMA events work across all grades.

If you are currently studying for a professional accountancy qualification (e.g. ACCA, CIMA, CIPFA or AAT) then the NHS Eastern Finance study support group may be your ideal way to meet people and access peer support. 

For everyone working in NHS finance, you can follow my lead by joining your local HFMA branch committee.  Meetings are informal and online and you can join the group of volunteers that makes events such as our East of England finance conference happen.  Drop an email to our local branch chair tom.burton1@nhs.net or kate.tolworthy@hfma.org.uk branch administrator to find out more.

Keith Wood, Senior Policy Manager, Healthcare Financial Management Association