Finance Operations Officer - Financial Accounting

Ofgem; Cardiff; Hybrid; GBP 25,000 - 30,000; Full time

Job summary

A UK energy regulatory body is seeking a Finance Operations Officer to manage VAT returns and support financial operations. The role requires strong financial reporting skills and the ability to engage with various stakeholders. The ideal candidate will have experience in finance teams and a commitment to maintaining financial accuracy. A competitive salary and comprehensive benefits package are offered, along with opportunities for professional development.

Benefits

Civil Service Defined Benefit Pension scheme

30 days annual leave

Hybrid working

Flexible working hours

Comprehensive benefits package

Qualifications

• Experience of working in a finance team.
• Ability to prioritise and work accurately under pressure.
• Team player and customer-focused.

Responsibilities

• Prepare monthly balance sheet reconciliations and investigate discrepancies.
• Prepare monthly VAT return in line with HMRC rules.
• Support external audit of Ofgem’s Annual Report and Accounts.

Skills

Financial reporting

Accounting journals

Reconciliations

Attention to detail

Analytical skills

Problem-solving

Communication

Education

Working towards a CCAB, AAT or equivalent qualification

Job description

Location

Successful candidates may be based in any of our office locations – Cardiff, Glasgow, or London. We especially welcome applicants from Cardiff and Glasgow.

Job summary

Ofgem is Great Britain’s independent energy regulator. We’re at the forefront of change across the energy sector, driving towards Net Zero whilst protecting energy consumers, especially vulnerable people.

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

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.

Key Outputs and Deliverables

• Month end tasks are prepared to timetable, including accurate and fully reconciled balance sheet reconciliations, the VAT return, and the cash flow forecast.
• Audit evidence and responses to audit queries are provided on a timely basis and satisfy the auditors’ requests.
• Prompt responses and accurate advice is provided to teams across Ofgem, delivering a high level of service.

Person specification

Essential

• Experience of working in a finance team, with a good understanding of financial reporting, accounting journals and reconciliations (Lead criteria).
• 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

• Working towards a CCAB, AAT or equivalent qualification.

Behaviours

• Communicating and Influencing
• Working Together
• Managing a Quality Service
• Delivering at Pace

Benefits

Alongside your salary of £25,854, OFGEM contributes £7,489 towards you being a member of the Civil Service Defined Benefit Pension scheme.

Ofgem can offer you a comprehensive and competitive benefits package which includes: 30 days annual leave after 2 years; Excellent training and development opportunities; The opportunity to join the generous Civil Service pension which also includes a valuable range of benefits; hybrid working (currently 1 day a week in the office but this is kept under review), flexible working hours and family friendly policies. Plus lots of other benefits including clean and bright offices based centrally, engaged networks and teams and an opportunity to contribute to our ambitious and important targets of establishing a Net Zero energy system by 2050. This exciting blend of professional challenge and personal reward identifies career opportunities at Ofgem as something to get excited about.

For more information and to apply, please visit our website via the apply button below.