Financial Control Manager

Job summary

About the role

Innovate UK Loans Limited (IUKL) exists to deliver the Innovation Loans programme as part of Innovate UK and UK Research and Innovation (UKRI)’s commitment to fostering business-led innovation.

The financial reporting manager for Innovate UK Loans Limited works with multiple teams within UKRI to support both the Group Financial Controller and the Innovate UK Loans company in creating compliant statutory accounts. Liaising with operational, wider finance and cross governmental teams this role encompasses knowledge of financial accounting and wider financial control to ensure best practice.

Job description

Your responsibilities:

Financial Reporting Manager for Innovate UK Loans Company with responsibility for:

• Ensuring high quality, compliant statutory accounts are signed off by the Company's auditors on a timely basis. This includes management of Stakeholder’s expectations, writing & presenting papers at the Company’s Board and Audit and Risk Committee.
• Management of the Financial Reporting team & the IFRS 9 & IFRS 13 compliant expected credit loss and fair value models including liaison with NAO, GAD & Moody’s. This includes problem solving & continuous improvement.
• Technical accounting & financial instrument expertise including the ability to explain complexity to senior experienced and non-expert audiences in succinct, understandable terms. This includes advice and support for new types of lending and changes to loans contractual terms that have accounting treatment consequences. Liaison with stakeholders and expert insight into loan & portfolio operations and credit risk teams processes and management information.
• Liaison with industry and Government bodies that have oversight of loan operations including DSIT, UK Government Investments, HMT Government Debt Management Function and Subsidy Control. Forward looking industry intelligence gathering that impacts on future requirements and best practice standards.
• A full contribution to Financial Control Team as a member of the Financial Control Mangers team that reports to the Financial Controller. Display UKRI Finance professional behaviors to encourage a very positive working environment and motivate a high performing team.

Person specification

The below criteria will be scored during Shortlisting (S), Interview (I) or both (S&I).

Essential

• Around 5 years post qualified accounting experience – preferably with a financial institution financial reporting team; or a Government body accounting team with financial instrument holdings; or a larger audit firm with exposure to financial instruments audits. (S)
• Technical accounting and financial reporting experience and aptitude, with a working knowledge of IFRSs for Financial Instruments & Fair Values (IFRSs 7, 9 & 13). (I)
• Ability to explain complexity both in written formats & in person to a wide range of stakeholders including senior management, Governance Committees and other technical specialists and colleagues within the Group. (S&I)
• Experience in working with internal and external financial models, preferably in credit risk applications. (S&I)
• Forward planning skills and resilience in challenging situations with a problem-solving aptitude to ensure high quality, compliant statutory accounts and supporting projects are delivered to a tight timetable. (I)
• Commitment to continuous improvement including delivery of projects relating to auditors’ management letter recommendations to improve accounting information and enhanced compliance with accounting standards. Being comfortable working in a team of other professionals to deliver these projects on time. (I)
• Line management experience of at least small teams, displaying emotional intelligence, with the ability to motivate and enthuse the team in challenging situations. (S&I)
• Outward looking intelligence gathering of financial institutions and other Government lenders and credit risk specialists published disclosure so that high quality published accounts are delivered a timely basis that reflect developing best practice. (I)

Benefits

We recognise and value our employees as individuals and aim to provide a favourable pay and rewards package. We are committed to supporting employees' development and promote a culture of continuous learning!

A list of benefits below:

• An outstanding defined benefit pension scheme
• 30 days' annual leave in addition to 10.5 public and privilege days (full time equivalent)
• Employee discounts and offers on retail and leisure activities
• Employee assistance programme, providing confidential help and advice
• Flexible working options

Plus many more benefits and wellbeing initiatives that enable our employees to have a great work life balance!

For further information on our benefits please see:

Benefits of working at UK Research and Innovation (UKRI)

Please apply online, if you experience any issue applying, please contact Recruitment@ukri.org

Please note, if you will require sponsorship to work in the UK, as part of your sponsorship application, you and any dependants travelling with you, will be required to pay costs directly to The Home Office for the application before you start your role with us. UKRI is normally able to reimburse some, or all of these fees after you have become an employee and this can be discussed with the Hiring Manager. For more information, please visit https://www.gov.uk/skilled-worker-visa/how-much-it-costs or contact Recruitment@ukri.org.

Benefits

Alongside your salary of £58,589, UK Research and Innovation contributes £16,973 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.

• Learning and development tailored to your role
• An environment with flexible working options
• A culture encouraging inclusion and diversity
• A Civil Service pension with an employer contribution of 28.97%

Things you need to know

Artificial intelligence

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 (opens in a new window) for more information on appropriate and inappropriate use.

Selection process details

1st interview incl presentation

Interviews will either take place virtually via Teams or in person, face to face.

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

Security

Successful candidates must undergo a criminal record check.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

Please note this Post is NOT regulated by the Civil Service Commission.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.

Diversity and Inclusion

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

Apply and further information

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

Job contact :

• Name : Recruitment Team
• Email : recruitment@ukri.org

Recruitment team

• Email : recruitment@ukri.org