Team Leader - London, United Kingdom - Bank of England

Bank of England
Bank of England
Verified Company
London, United Kingdom

3 weeks ago

Tom O´Connor

Posted by:

Tom O´Connor

beBee Recruiter
Description

Team Leader - Finance Operations Team

-

(

008598

)

Primary Location UK-ENG-London


Job Accounting and Finance


Organisation BUSINESS SERVICES


Job Posting 17-Mar-2023, 4:37:34 AM

The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people.
The Bank of England is a diverse organisation.

Each of its 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.

We have recently created a new Shared Services Directorate, which has been formed by centralising operational colleagues from Human Resource, Finance, Technology and Property, Procurement & Security (PPSD) to enable a focus on operational service delivery.

The Shared Services Directorate is structured as PPSD, Business Services and the Central Services COO.


The Business Services Division is an efficient and effective operational service undertaking financial and people processes for colleagues in the Advisory areas of Finance & Performance and People & Culture.

It is also responsible for meeting the Bank's requirement for User Acess Management, Information Management and Management Information.

Our vision is to provide a streamlined, efficient operational service to colleagues through a focus on process improvement, people development and automation.

Department Overview

The Shared Services Directorate consists of PPSD and Business Services.

This role is part of the Finance Operations Team in Business Services which provides financial transactions operational service to colleagues in Finance and around the Bank.


The Finance Operations team is responsible for completing monthly and daily reconciliations and financial reporting as well as producing the monthly Governors and Directors returns and preparing quarterly reporting for publication on the external website.

The Team Leader's role is to provide day-to-day operational oversight of their team work, ensuring it is completed in accordance with expected standards, providing support and advice as well as encouraging continuous process improvements environment.

Job description
This is a people management role. You will be responsible for day to day management of the team and for defining roles and responsibilities.

You will develop your team through sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated to deliver the area's aims.

This will include setting clear goals and smart stretching objectives that are aligned to those of the team, division and directorate.

You will also be responsible for managing all staff-related matters that may arise including performance, absence and sickness.


The role holder will act as point of contact representing team within the division and wider Bank and will be responsible for developing and managing relationships with key stakeholders e.g.

Finance, Private Offices.

The team's main responsibility is to ensure the integrity of the general ledger.

The role involves performing and coordinating a number of regular daily, weekly, monthly and ad-hoc operational and accounting related tasks to tight deadlines, including delivery of the following:


  • Daily reconciliations between the general ledger and its source systems, verification of completeness/accuracy of data
  • Monthly balance sheet reconciliations and source data controls
  • Support for month end process posting accruals, prepayments, staff costs, project reallocations and corrections


The team works closely with the Financial Reporting and Control team in Finance assisting with preparation of statutory, monthly and external reporting for the Bank and subsidiaries with majority of tasks rotating between the three team members.

The role holder will share responsibility for preparation of the weekly report and monthly reporting to HMT and will have an opportunity to get involved in drafting notes to annual accounts.

You will also be responsible for coordinating responses to audit requests and assisting Finance with year-end external audit. The role provides an excellent opportunity to gain accounting experience and to learn about Bank's operations.


The team is currently responsible for preparing the expenses reporting, such as Governors and Directors returns, quarterly proactive releases and the note to ARCo.

The job holder will be expected to review the expenses reporting prior circulation to Private Offices and provide assistance with expenses classification queries.

Number of direct reports: 2

Role Requirements

Minimum (Essential) Criteria

  • Good IT skills, including Excel, and able to learn new IT systems and processes
  • Strong attention to detail and excellent workload management skills with a core focus on delivery
  • A willingness to learn and develop themselves, and to take on new responsibilities
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