The Bank of England
Head of Financial Control and Reporting
The Bank of England is the UK's central bank with a central mission to deliver monetary and financial stability for the British people. They are a diverse organisation where each of their 4,000 people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability. The Bank is at the heart of the UK economy and there has never been a more exciting time to help the UK navigate unchartered territory.
Public trust is key to the success of the Bank. The Finance & Performance Directorate plays a critical role in developing the corporate strategy and protecting the Bank's financial position and reputation. The overall purpose of the Directorate is to contribute to the successful execution of the Bank's aims and objectives by ensuring it has an appropriate financial platform for its broader responsibilities and for the challenges facing an organisation with a balance sheet of £600 billion and annual expenditure of £650 million. This is a critical time for the Bank, with significant uncertainties in the external outlook and major internal change programmes and external funding schemes, coincident with the appointment of a new Governor. More than ever, the Bank’s actions will be subject to close external scrutiny.
We are working with The Bank of England to find their new Head of Financial Control and Reporting (FC&R). The Head of FC&R will play a key role on the Finance leadership team, reporting directly to the Chief Financial Officer, and will work closely with leaders across the organisation to bring technical expertise and best industry practice to bear in business cases and in the Bank’s financial decisions. The jobholder will take the lead on all Bank-wide issues relating to: accounting policy; financial reporting disclosures and controls, and tax strategy. The successful candidate will thrive managing and leading a diverse team in an inclusive manner.
Excellent thought leadership, technical, delivery and influencing skills are needed in this role. There is considerable scope to shape and influence strategy through providing intellectual challenge and fact-based rationale to drive cross-Bank collaboration. Operational excellence is also paramount, such that accounting policies are implemented and maintained, and processes are underpinned by an effective risk and control self-assessment. This role will play a key role in ensuring that the new ERP is successfully implemented and accepted by the business as the source of one version of the truth to create operating efficiencies and synergies. As the benefits of new systems and ways of operating are realised, it will be important to enhance the role of the FC&R team as advisors to the business.
In the area of the income and balance sheet in particular, the job holder will have strong market knowledge and commercial awareness. The job holder will need to advise on the appropriate accounting treatment, and that may interact with how operations, disclosures or IT system interlinkages are designed, e.g. in relation to quantitative easing operations, funding schemes e.g. Term Funding Scheme. The job holder will therefore need a strong ability to think and work strategically across all business units, in particular, Markets, Banking & Resolution and Risk Directorate and leverage technical expertise to inform high-quality financial decision taking at the highest levels of the Bank and ensure that appropriate accounting treatment is applied.
Over time, the job holder will engage at the highest level of the organisation and with key external stakeholders.
HOW TO APPLY
If you wish to apply for this position, you must submit the following documents:
1. A comprehensive CV setting out your career history, with responsibilities and achievements.
2. A completed Diversity Monitoring Form. All monitoring data will be treated in the strictest confidence and will not affect your application in any way; you may select ‘Prefer not to say’ if you do not wish to answer any questions. (Link here: https://forms.gle/yZhpxZUHihPtYMmb8)
Please submit your application by noon on Monday 8th June 2020.