About the job

Job summary

The Financial Control Division (FCD) is a friendly, dynamic and fast paced team working at the heart of UK Export Finance.  We are responsible for ensuring that effective financial control processes are in place. We co-ordinate the Department’s estimates, budgets and forecasting processes. We produce accurate and reliable monthly management accounts, annual accounts and other published financial information. We manage the UKEF bank accounts, purchase ledger, fixed asset registers and the general ledger (CODA). We advise on accounting treatments, own the UKEF accounting policies and are working with others across the organisation and beyond to implement large scale changes in our accounting policy, systems and processes in order to operationalise IFRS 9 and IFRS 17.

Our friendly and collaborative team is growing to support a larger UK Export Finance. Not only has the demand for UK Export Finance products significantly increased since the pandemic, the business is operating in a more uncertain market than it has seen in a long-time meaning activity on claims and recoveries is also increasing. It’s therefore an exciting time to join us as we support a business that is at the heart of delivering government export and trade policy to build the UK economy back stronger. We are also in a unique period of transition as we prepare to implement IFRS 9 and IFRS 17 accounting standards that will affect how we account for nearly all our front-line business. This will offer the successful applicant a once in a lifetime opportunity to experience, and indeed, help shape and contribute to this fundamental shift that also involves implementing new systems, including a new general ledger, and new processes.

Job description

This role is for a high-calibre accountant with the necessary experience, skills and personal qualities to support the Senior Financial Accountants on the accounting, forecasting and financial reporting of the Department’s financial instruments, principally financial guarantees and insurance products.  

The role will work with colleagues across the division and the department to support the process to produce UKEF’s monthly accounts, Supply Estimates (twice year) and Annual report and accounts and other financial reports. The role will involve working with internal stakeholders, including underwriters, the operations team, and internal and external auditors, to ensure robust financial reporting of UKEF’s products.

Additionally, the role will be required to provide support to the wider Finance roles on a business needs basis.

To succeed, the person to be a high performing fully qualified accountant and a proven ability to deliver to challenging timetables. You will be a results-driven and ambitious team player who is able to work at a fast pace in a pressurised environment, have excellent attention to detail and the ability to build productive working relationships across divisions within the organisations. You will also possess strong IT skills (in particular Excel), the ability to work to and meet tight deadlines in a complex business, and the ability to hit the ground running in a fast-paced role as the organisation goes through a period of rapid change.

Person specification

1. Support the production of monthly accounts for the UKEF’s financial instruments, financial guarantees and insurance portfolios. Key responsibilities include:

 

• Preparing month end commentary for the Monthly Management Report for the Financial Account (G7) to review;
• Reviewing and analysing monthly and quarterly information from internal teams to update valuations, income accruals and provisions and update models in Excel spreadsheet format;
• Preparing journals, ensuring that the treatment is in line with IFRS (as adopted by UKEF) and there is an audit trail;
• Assisting with reporting on UKEF’s IFRS-based financial information; and
• Work closely with the Operations Division to ensure the correct reporting with quality of data. i.e. clearing of suspense accounts / Overnight Interface failure /Incorrect accrual of premiums.

 2. Support the production of the UKEF’s annual report and accounts. Key tasks include:

• Obtaining year-end information from internal teams (Risk, Operations, Business Group) to produce final valuations, including rates for the provisions to update models in Excel spreadsheet format.
• Preparing year-end journals created by reconciliation performed.
• Assist in resolving audit issues.

3.       Provide analysis of UKEF’s assets and liabilities as and when required.
4.       Prepare regular account reconciliations with upstream systems.
5.       Improve current processes and models.
6.       To provide cover (if needed) across FCD.

Benefits

Alongside your salary of £43,890, UK Export Finance contributes £11,850 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.

Application

Applicants are required to upload an anonymised copy of an up-to-date CV which should include information on your employment history, experience and relevant qualifications.

All applications will initially be sifted and evaluated against the following.  

• Qualifications - as demonstrated in your CV
• Experience – as demonstrated in your CV
• Knowledge – as demonstrated in your CV
• Addressing 2 of the essential criteria:
  
  

1. Provide information about you being a team player, being flexible to ensure services are delivered and willing to contribute to the delivery of objectives of the team.
2. Provide information about your experience of using a large financial accounting package.

Interview Stage

If you are successful following the sift you will be invited to take an Excel test and to attend a formal interview that will include the following assessment:

Behaviours/Technical/Experience - a formal panel interview where you will be interviewed across all 3 behaviours highlighted and your technical ability to successfully carry out the role.

• Behaviour – Managing a Quality Service
• Behaviour – Delivering at Pace
• Behaviour – Working together
• Technical assessment
• Technical questions relating to the role

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

Security

Successful candidates must meet the security requirements before they can be appointed. The level of security needed is security check (opens in a new window).

See our vetting charter (opens in a new window). 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.