About the job

Job summary

As the regulator for Great Britain's energy industry, Ofgem ensures a secure and sustainable energy supply to British households and businesses. Our core mission is safeguarding the interests of electricity and gas consumers by promoting value, security, and sustainability while overseeing market development, competition, regulation, and government schemes.

Ready to take a key role in Ofgem's financial operations? As a Finance Operations Officer, you'll ensure accurate and timely processing of the monthly VAT return and cashflow, contribute to month-end procedures including fixed asset register maintenance, as well as support the audit of Ofgem's Annual Report and Accounts.

Your expertise spans various areas. You’ll expertly assess the VAT treatment of expenses in line with HMRC rules for Government departments. You'll also excel in understanding the changing requirements around VAT and how they affect Ofgem’s return as well as help address VAT queries from the wider Ofgem business.

Your commitment to accuracy is key as a Finance Operations Officer as you'll handle balance sheet reconciliations and adjustment journals, actively investigating discrepancies and coordinating with stakeholders for resolutions. You’ll also build the expertise to support the preparation of the monthly cashflow submission to HM Treasury. Your role is instrumental in supporting external audits of Ofgem's Annual Report and Accounts, ensuring compliance with auditors' queries and delivering necessary audit evidence within set deadlines.

Building effective relationships is pivotal to your role. You'll foster strong connections with multiple teams, including the Accounts Payable Team, Procurement Team, Management Accounting Team, Finance Business Partners, as well as contract managers and budget holders across Ofgem. You'll also engage externally with the National Audit Office.

If you're prepared to contribute your skills to our dynamic team, playing a crucial part in maintaining Ofgem's financial stability and accountability, we invite you to apply and become an integral part of our organisation.

Ofgem values inclusion, celebrating the diverse voices and experiences of our colleagues. We encourage different perspectives and experiences in our work, making everyone welcome in our inclusive workplace, where employees can bring their authentic selves to work.

Job description

Purpose

Ofgem is a non-ministerial government department and an independent National Regulatory Authority. Our principal objective is to protect the interests of existing and future electricity and gas consumers. We do this by promoting value for money, promoting security of supply and sustainability, for present and future generations of consumers, domestic and industrial users, the supervision and development of markets and competition, regulation and the delivery of government schemes. We work effectively with, but are independent of, government, the energy industry and other stakeholders within a legal framework determined by the UK government and the European Union.

Working in the Financial Accounting team, you will play a key role in the accurate and timely completion of month end procedures, VAT and cashflow submissions and the audit of Ofgem’s Annual Report and Accounts. Reporting to the Financial Accounting Team Manager, your work will support robust financial control across Ofgem.

 

Key Responsibilities

• Prepare monthly balance sheet reconciliations, investigating discrepancies and liaising with relevant stakeholders to resolve.
• Prepare monthly VAT return, ensuring VAT is reclaimed in line with HMRC’s Contracted Out Services headings.
• Maintain the Fixed Asset Register, processing additions, disposals and depreciation.
• Support the external audit of Ofgem’s Annual Report and Accounts – assist with the management of the Client Liaison Schedule to ensure all samples and required audit evidence is provided to the auditors by the required due dates; liaise with various stakeholders to address queries raised by the auditors.
• Support other external reporting including working with teams across Ofgem to prepare the monthly cash flow forecast for submission to HM Treasury.
• Provide accurate advice and guidance to teams across Ofgem on accounting policies and systems including the recoverability of VAT on purchases.
• Build effective relationships with the Management Accounting Team, Accounts Payable Team, Finance Business Partners and other corporate services functions such as Payroll.

Person specification

Essential Criteria

• Experience of working in a finance team, with a good understanding of financial reporting, accounting journals and reconciliations.(Lead)
• Team player, customer focussed and able to effectively communicate with both internal and external stakeholders, offering advice and resolving queries.
• Ability to prioritise and work accurately under pressure.
• Excellent attention to detail and good analytical and problem solving skills.

Desirable Criteria

• Working towards a CCAB, AAT or equivalent qualification.

Benefits

Alongside your salary of £24,623, OFGEM contributes £6,648 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.

Things you need to know

Selection process details

This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Experience and Technical skills.

When you press the ‘Apply now’ button, you will be asked to complete personal details (not seen by the sift panel), your career history and qualifications.

You will then be asked to provide a 1250 word ‘personal statement’ evidencing how you meet the essential and desirable skills and capabilities listed in the role profile. Please ensure you demonstrate clearly, within your supporting statement, how you meet each of the essential and desirable skills and capabilities.

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) (opens in a new window)
• 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 (opens in a new window)

Working for the Civil Service

The Civil Service Code (opens in a new window) 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 (opens in a new window). 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.