Job Description

Details

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Reference number

438428

Salary

45,400 - 52,000
London: 47,800 - 52,000




Non-London: 45,400 - 49,300
A Civil Service Pension with an employer contribution of 28.97%
GBP

Job grade

Senior Executive Officer
Grade 4

Contract type

Permanent

Business area

NS&I - People and Finance

Type of role

Accountancy

Working pattern

Full-time

Number of jobs available

1

Contents

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Location About the job Benefits Things you need to know Apply and further information

Location

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Durham, North East England, DH1 1SL : Lytham St Anne's, North West England, FY8 4TS : Glasgow, Scotland, G2 8JX : Southwark, London (region), SE1 9HA

About the job

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Job summary

NS&I is looking for a Financial Accountant - Product Accounts to join our friendly, knowledgeable finance function. We are a small, collaborative team working at the heart of NS&I ensuring the principles of financial governance in the public sector are upheld.


Reporting to the NS&I Financial Control Manager the role holder will provide financial control and reporting for over 240 billion of customer investments. You will work closely with our outsourced accounting operations partners and a range of internal and external stakeholders including HM Treasury in respect of the National Loans Fund.


As Financial Accountant - Product Accounts you will support the delivery of NS&I's statutory Product Accounts for presentation to Parliament with an unqualified audit opinion before summer recess, ensuring compliance with international financial reporting standards (IFRS) and financial reporting requirements as stipulated by the government financial reporting manual (FReM).


You will provide high levels of assurance to senior NS&I managers on all NS&I's retail products through reviews, analysis and financial assurance on financial reporting and back-office accounting operations carried out by our outsourced accounting providers. In addition, you will ensure that effective financial controls remain fit for purpose and are in operation for all aspects of product accounting. You will also ensure that funds flowing between the National Loans Fund and NS&I are properly managed through oversight of treasury management operations.


This is an excellent opportunity to work across NS&I as we transform our business, providing comprehensive accounting support, advice and guidance for NS&I's retail savings products, whilst supporting robust value-adding decision-making and the delivery of NS&I's strategic objectives.

Job description

Statutory Accounts


Assist in planning, negotiating and co-ordinating the year-end timetable for Product Accounts with key stakeholders, including auditors and NS&I's outsourced accounting operations provider. Support the timely production of NS&I's statutory Product Accounts, in accordance with IFRS accounting standards, the government financial reporting manual FreM and statutory requirements for presentation to Parliament with an unqualified audit opinion prior to summer recess. Support the Product Accounts year-end audit process, including the completion of assigned working papers to a high standard and within the timetable agreed with Auditors. Provide information and responses to queries raised by Internal and External Auditors in a timely manner. Perform year-end financial assurance, reviews and analysis on Product Accounts financial reporting carried out by the outsourced accounting operations provider, including providing feedback, challenge and suggestions for improvement where appropriate. Support the timely production of NS&I's interim Product Accounts, and the interim audit process.




In-Year Reporting


Assist in planning and co-ordinating the delivery of monthly Product Accounts financial reporting packs from the outsourced accounting operations provider. Review, analyse and assure the monthly Product Accounts prepared by the outsourced accounting operations provider, identifying issues, obtaining explanations and following up queries to resolution. Prepare monthly financial reports including the preparation of management accounts and supporting narratives. Monitor funding and defunding movements for all products and investigate any unusual or unexpected activity. Prepare daily cash forecasts of movements in the National Loans Fund (NLF) monthly and monthly NLF Account Statements for HM Treasury. Support the reconciliation of numbers reported in the product accounts to other business reports as and when required. Support the preparation of finance performance information, and risk registers, ensuring information is accurate, timely, and identifying areas for improvement.




Financial Control and Assurance


Actively assist in managing all aspects of Product Accounting, acting as a key point of contact between NS&I and outsourced accounting teams. Assist in the delivery of financial assurance, working closely with outsourced accounting teams to review, interpret and analyse financial information and to identify and report risks. Support the maintenance of a fully documented product accounting financial control and assurance work programme, to provide assurance on the effectiveness of product accounting controls including identifying opportunities for further improvements. Review and assure Product Accounts financial information prepared by the outsourced accounting operations provider, paying particular attention to customer interest calculations and reviewing reconciliations. Support the development of accounting guidance, ensuring new accounting standards and legislative requirements are applied and followed by the outsourced accounting teams. Actively participate in regular planning meetings, to identify and resolve any issues. Actively represent the Financial Control team in supporting retail product projects as required. Review project proposals, assessing accounting impacts, and provide robust and appropriate advice. Assist the incident management team on product accounting issues when required. Act as champion for Product Accounting across NS&I and the outsourced product accounting teams, including reviewing and challenging any relevant proposals or issues arising. Support the review and assessment of third-party financial statements as required.

Treasury Management



Support the efficient operation of product bank accounts, ensuring that authorisations are kept up to date. Act as an authorised signatory for NS&I's bank accounts, ensuring appropriate controls over access rights are maintained. Monitoring Product Account bank charges, including checking supplier invoices and Atos volume projections and supporting the preparation of monthly accruals. Actively monitor the effectiveness of Treasury Management policies, develop and refine as appropriate. Monitoring funding and defunding operations. Periodically review floats held at Bank of England and provide advice / recommendations for change where necessary.




Relationship Management & Team working



Establish a strong network with NS&I colleagues and outsourced accounting operations providers, acting as a key contact for product accounting issues. Support the review and improvement of information requirements with other NS&I Finance teams and outsourced accounting operations providers to ensure data meets NS&I requirements in the long and short term and that there is one shared version of the truth. Identify opportunities for continuous improvement, suggest practical changes to deliver improvement and practice, and be open to change. Work flexibly, co-operatively and collaboratively with other finance colleagues to ensure the finance service covers its entire responsibility and meets the needs of the organisation and stakeholders. Provide cover and support for other finance team members to ensure continuity of transaction processes within finance. Respond to ad hoc queries as and when they arise. Deputise for the Financial Control Manager in their absence.

Person specification

Essential experience

Experience of working in financial accounting, including experience of assisting with the preparation of year-end accounts and the ability to effectively engage with auditors. Experience in interpreting and applying new and revised accounting standards to financial statements. Experience of analysing, interpreting and explaining highly complex financial information in non-routine situations to senior managers and non-finance colleagues. Experience of identifying and managing risk and controls around financial systems and processes including identifying options for mitigation and improvement. Experience of financial controls and operating a financial control framework to ensure the integrity of transactions. Experience of managing own workload, and that of others, delivering multiple priorities within tight and often changing timescales. Experience of working in Financial Services Experience of working in a high transaction volume environment Experience of reviewing financial policies and procedures

Required qualifications

Qualified Accountant (ICAEW, ICAS, CAI, ACCA, CIPFA, CIMA) with significant relevant post qualification experience.

Essential skills

Highly numerate with excellent financial analysis, investigative and problem-solving skills. Good interpersonal skills with the ability to work effectively as part of a team and build effective relationships with colleagues and key stakeholders. Proficiency in Microsoft Office, including advanced Excel skills. with excellent communication, report writing and presentation skills.

Essential technical knowledge

Strong technical financial accounting skills including up-to-date knowledge of IFRS accounting standards.

Qualifications

Qualified Accountant (ICAEW, ICAS, CAI, ACCA, CIPFA, CIMA) with significant relevant post qualification experience.

Behaviours

We'll assess you against these behaviours during the selection process:


Making Effective Decisions Managing a Quality Service Changing and Improving Delivering at Pace

Technical skills

We'll assess you against these technical skills during the selection process:


Strong technical financial accounting skills including up-to-date knowledge of IFRS accounting standards.

Benefits

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Alongside your salary of 45,400, National Savings and Investments contributes 13,152 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.
NS&I is one of the largest savings organisations in the UK with more than 24 million customers and over 240 billion invested. We are both a government department and an Executive Agency of the Chancellor of the Exchequer. Our origins can be traced back more than 150 years to 1861.



A small company with a big reach, we offer a range of benefits including flexible working, great opportunities for development and a generous pension scheme. We care for colleagues, respect one another, invest in our people and manage talent effectively.



Some benefits of working at NS&I include:



Learning and development tailored to your role An environment with flexible hybrid working options (40% office attendance) 9 day fortnight scheme A culture encouraging inclusion and diversity A Civil Service pension with an average employer contribution of 28.97% Generous annual leave - starting at 25 days, increasing to 30 days Performance related variable pay bonus Enhanced maternity, paternity, adoption and shared parental leave

Things you need to know

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Selection process details

This vacancy is using Success Profiles , and will assess your Behaviours, Experience and Technical skills.
To apply, please click the link on this advert and follow the steps to complete the application form.


In your application you will be asked to provide the following:



An outline of your career history and qualifications with your key responsibilities and achievements. A Statement of Suitability (max 1000 words) focusing on your experience of the following key criteria and behaviours; + Experience of working in financial accounting, including experience of assisting with the preparation of year-end accounts and engaging with auditors
+ Experience of identifying and managing risk and controls around financial systems and processes including identifying options for mitigation and improvement.
+ Experience of financial controls and operating a financial control framework to ensure the integrity of transactions.

Use of Artificial Intelligence (AI) - Please Note:

Artificial Intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance for more information on appropriate and inappropriate use.



We will assess applications on your CV, personal statement and Technical Skill statements


In the event we receive a large number of applicants, applications will be sifted first on the technical skill: "Strong technical financial accounting skills including up-to-date knowledge of IFRS accounting standards." Only those that meet the minimum acceptable score for this criteria will qualify for the full sift and be considered for interview.


If shortlisted, you will be invited to attend a 1 hour panel interview via video call.


As part of this interview you will be asked to make a 10 minute presentation. The topic will be sent out along with the interview invites.



Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must undergo a criminal record check.
People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:


UK nationals nationals of the Republic of Ireland nationals of Commonwealth countries who have the right to work in the UK nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS) individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020 Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service
Further information on nationality requirements

Working for the Civil Service

The Civil Service Code sets out the standards of behaviour expected of civil servants.



We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles .
The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.
The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.

Diversity and Inclusion

The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see the Civil Service People Plan and the Civil Service Diversity and Inclusion Strategy .

Apply and further information

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This vacancy is part of the Great Place to Work for Veterans initiative.
The Civil Service welcomes applications from people who have recently left prison or have an unspent conviction. Read more about prison leaver recruitment (opens in new window).
Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.

Contact point for applicants

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Job contact :

Name : jobs@nsandi.com Email : jobs@nsandi.com
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Recruitment team

Email : jobs@nsandi.com

Further information

The law requires for selection for appointment to the Civil Service is on merit on the basis for fair and open competition as outlined in the Civil Service recruitment principles. If you feel your application has not been treated in accordance with the recruitment principles and you wish to make a complaint, you should contact jobs@nsandi.com in the first instance. If you are not satisfied with the response you receive, you can contact the Civil Service Commission info@csc.gov.uk