UKRI
Organisation UKRI
Organisation Detail UK Research and Innovation - Corporate Hub
Reference Number IRC255241
Location Swindon See on Map
Salary £49708
Date Posted 14 October 2020
Grade UKRI-Band F
Contract Type Open Ended
Hours Full Time
Closing Date 02 November 2020
Interview Date




Brief Description


Salary: £49,708 per annum
Grade: UKRI F
Contract Type: Open Ended
Hours: Full Time
Closing Date: 2nd November 2020
Interview Date: W/C 16th November 2020

Purpose of the role

The role is key to allowing UKRI’s award-winning Financial Control team to achieve its core objectives:

  • Ensure delivery of UKRI’s Financial Statements, and those of its component entities, ensuring that they meet applicable Accounting Standards, HMT and other UK Government requirements
  • drive improvement to existing processes and align with harmonised UKRI and Government Finance Function financial policies and processes
  • facilitate operational delivery through providing financial support and operation of key financial controls

The role will be primarily focused on supporting Innovate UK and Innovate UK Loans Limited which is part of UK Research and Innovation, including providing leadership of complex modelling required to comply with financial reporting standards around loan products issued on non-commercial terms.

Innovate UK drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas, including those from the UK’s world-class research base. 

Innovate UK Loans Limited is a wholly-owned subsidiary of UKRI, offering flexible loan schemes aimed at supporting UK-based micro-businesses and SMEs with innovative projects to develop new or improved products, processes or services so that they can gain the competitive edge and grow the UK economy

Key areas of accountability

Leadership / teamwork

  • Lead, motivate and direct the work of your team members to deliver individual and team objectives and work on joint activities at pace, while optimising staff utilisation, and building and maintaining good working relationships.
  • Plan and oversee development of team members to ensure skills and knowledge remain relevant and current to UKRI business need
  • Lead technical input into specialist areas, and proactively share knowledge encouraging other team members to do the same.
  • Provide the Financial Controller and Finance Director with effective support so that they can effectively fulfil their governance responsibilities across UKRI and Innovate UK Loans Limited governance structures, deputising for them as and when required.

Delivery / programmes / projects / process

  • Lead the preparation of input into UKRI Financial Statements for Innovate UK and preparation of Innovate UK Loans Limited company accounts, including notes and related disclosures for the annual report and accounts, ensuring these are in line with applicable guidance including IFRS, HM Treasury’s FReM, and other Government requirements.
  • Lead on planning audit and accounts preparation for Innovate UK Loans Limited, ensuring timely provision of information into the UKRI Annual Report & Accounts. This will include attending Innovate UK Risk Committee meetings and Innovate UK Loans Ltd Board meetings alongside the UKRI Finance Director to present on financial statement planning, risks and audit findings.
  • Provide clear and actionable technical accounting advice aligned to IFRS and HMG guidance to Innovate UK Loans operational colleagues, supporting effective delivery of their policy objectives.  
  • Ensure completeness of reporting information and supporting audit evidence for financial audits to quality standards and within tight deadlines.
  • Lead on the preparation of sections of Whole of Government Accounts (WGA) returns, associated supporting information and audit evidence, including counter-party analysis.
  • Ensure your team completes regular processes to ensure the integrity of ledgers and sub-ledgers, and quality assurance of financial information in our ERP systems 
  • Key financial control representative for financial systems development and improvements at work groups and supporting the testing of financial system changes.
  • Maintain effective relationships with key stakeholders to obtain and assure the information relevant to the preparation of external reporting outputs, including development and maintenance of complex models and analyses.
  • Maintain effective ongoing relationships with the National Audit Office (NAO) and other external auditors, ensuring provision of timely and robust evidence underpinning the draft financial information and the audit
  • Maintain effective ongoing relationships with Government Internal Audit Agency (GIAA), to ensure that evidence and robust explanations are provided to describe current controls and support the development of additional controls; direct team to implement audit recommendations and agreed management actions within agreed timescales.
  • Develop, maintain and own internal financial policies and procedures and provide training and upskilling of colleagues and the wider business as appropriate.
  • Ensure resource levels and skills within the team meet fluctuating workloads throughout the year; adjustments in team member deployment to maximise efficiency.
  • Act as a point of resolution or escalation for complex technical queries in the component entities covered.

Organization Description


What is UK Research and Innovation?

Operating across the whole of the UK with a combined budget of more than £7 billion, UK Research and Innovation is a new entity that brings together nine partners to create an independent organisation with a strong voice for research and innovation, and a vision to ensure the UK maintains its world-leading position in research and innovation. UKRI will build on the successful elements from the current funding system and maximise the contribution of each of the component parts to create the best environment for research and innovation to flourish.

Building on success

The UK has a world class research and innovation system. Our expertise spans all fields of knowledge, from the discovery of penicillin and monoclonal antibodies, to the jet engine and the world-wide web. Our inspirational creative industries are strong in art, design and the innovative use of new materials and technologies. Our universities and laboratories produce a disproportionate percentage of the world’s top research, and their academics are highly-sought as international colleagues and co-authors and are among the world’s best at attracting overseas students Nor is this excellence confined to university campuses and research centres. Our engineering, automotive and pharmaceutical industries are successful in part because of the superb graduates they can hire and the top rate researchers that support them.

Our partners

The nine UK Research and Innovation partners each bring unique assets to this cooperation. Innovate UK helps businesses to identify the commercial potential in new technologies and turn them into the new products and services that will drive economic growth and increase productivity; Strong discipline-facing Research Councils encourage breadth and diversity, curiosity-driven research, and priority-driven initiatives; Research England’s work on knowledge exchange will focus on capacity and culture in universities and provide balance to the funding system. It will drive quality and impact through the REF and work closely with its counterparts in the devolved administrations.

Shortlisting Criteria

Essential:

  • Demonstrable experience of leadership of finance specialists
  • Ability to build relationships with senior stakeholders and influence them with impact and professional credibility
  • Specific experience of leading teams operating financial modelling and reporting to comply with ongoing requirements of IFRS 9 – Financial Instruments
  • Qualified Accountant (CCAB, CIMA or equivalent) with significant post-qualified experience
  • Understanding of and ability to apply and advise others, both expert and non-expert, on the application of International Financial Reporting Standards (IFRS)
  • Leading and/or delivering completion of Draft Financial Statements for audit from trial balance including: revaluation of assets, reserve movements, provision movements, ability to drill down, analyse and explain material movements.
  • A good working knowledge of Microsoft Office and experience of financial reporting systems and particularly a strong knowledge of Excel including formulae and controls.
  • Problem solving capabilities and organisational skills, with demonstrable ability to deliver at pace, meeting changing priorities to time and to a high standard
  • Strong verbal and written communication skills

Desirable:

  • Experience of using an existing UKRI ERP accounting package (Oracle or Workday currently preferable)
  • Evidence of understanding and applying Government requirements and guidance relevant to the role FReM
  • Experience of applying continuous improvement, ability to innovate and challenge established thinking in self and others, and to offer insights and ideas with practical application coupled with the ability to drive change

Interview Criteria

Essential:

  • Demonstrable experience of leadership of finance specialists
  • Ability to build relationships with senior stakeholders and influence them with impact and professional credibility
  • Specific experience of leading teams operating financial modelling and reporting to comply with ongoing requirements of IFRS 9 – Financial Instruments
  • Understanding of and ability to apply and advise others, both expert and non-expert, on the application of International Financial Reporting Standards (IFRS)
  • Leading and/or delivering completion of Draft Financial Statements for audit from trial balance including: revaluation of assets; reserve movements; provision movements; ability to drill down, analyse and explain material movements.
  • Problem solving capabilities and organisational skills, with demonstrable ability to deliver at pace, meeting changing priorities to time and to a high standard
  • Strong verbal and written communication skills

Desirable:

  • Experience of applying continuous improvement, ability to innovate and challenge established thinking in self and others, and to offer insights and ideas with practical application coupled with the ability to drive change

 

UKRI supports research in areas that include animal health, agriculture and food security, and bioscience for health which includes research on animals, genetic modification and stem cell research. Whilst you may not have direct involvement in this type of research, you should consider whether this conflicts with your personal values or beliefs.

To enable us to hire the very best people we will conduct a full and comprehensive pre-employment check as an essential part of the recruitment process on all individuals that are offered a position with UKRI. This will include a security check and an extreme organisations affiliation check.

Polaris House is located next to Swindon Train Station and has excellent public transport links. Limited parking subject to waiting list (Swindon site only).

Employee Benefits
UK Research and Innovation recognises and values employees as individuals and aims to provide a pay and reward package that motivates staff to the best of their ability. The reward and benefit package includes a flexible working scheme, an excellent Defined Benefit pension scheme, 30 days annual leave allowance and a number of other benefits.

Developing Talent
We are committed to developing employees in their roles throughout their career. Learning and development plans enable employees to continue their professional development through training and development opportunities such as e-learning, classroom training and on-the-job experiences. We encourage our employees to share their learning across teams and organisations.

Equal Opportunities
We strive to make decisions based on individual merit and ability. We welcome applications from all sections of the community and promote equality of opportunity in accordance with the Equality Act 2010. As holders of Disability Confident Employer status, we guarantee to interview all applicants with disabilities who meet the minimum criteria for the vacancy.
 

As this job does not fulfil the Home Office Code of Practice criterion for obtaining sponsored migrant worker status we will be unable to apply for sponsorship for anyone not eligible to work in the UK. At interview, all shortlisted candidates are required to bring with them identification documents and original documents that prove they hold or can obtain the right to work in the UK. You can check your eligibility here: https://www.gov.uk/check-uk-visa/y.

Online applications only. Please submit a covering letter and CV ensuring that the IRC reference is included in the filename description of each document uploaded. Please note that failure to address the above criteria or submitted without a covering letter may result in your application not being considered.

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