Interim Finance Officer (Year End) in City of Westminster

The Finance and Management Information Section (FMIS) forms part of the Corporate Business Division, which has responsibility for a wide range of corporate services in the Commonwealth Secretariat and has overall responsibility for the financial management of the Commonwealth Secretariat’s annual budget of approximately £40 million. The Secretariat’s Funds include the Commonwealth Secretariat, the Commonwealth Fund for Technical Cooperation and the Commonwealth Youth Programme, as well as the New York Joint Office and the Commonwealth Small States Office in Geneva. FMIS provides financial management and accounting services and support to the Commonwealth Secretariat. The section prepares budgets, management information and financial statements for the Commonwealth Secretariat funds. It also manages payroll, pensions, revenue, treasury, payments and travel for both full time staff and contracted experts, and provides financial information to Secretariat management and the governing bodies. FMIS is also responsible for the risk management across the Secretariat as well as the maintenance of the Secretariat’s financial system.

The Interim Finance Officer, Year-end reports to the Financial Accountant who leads the Accounting Centre of the Secretariat’s Finance function. The functions of the Accounting Centre include general ledger accounting, treasury and preparation of the Secretariat’s financial information and statements for all three funds. The Interim Finance Officer, Year-end supports the Financial Accountant and Assistant Financial Accountants in preparing for the annual external audit of the financial statements as well as with the preparation of the financial statements. The post holder is expected to support the Financial Accountant in the achievement of the team’s objectives and goals and work closely with other teams within FMIS.

Role Description

• Year-end and Month-end Reporting
  • Develop and maintain monthly reconciliations for all balance sheet accounts, effectively following up on and reconciling differences.
  • Assist with maintaining and updating the fixed asset register ensuring that monthly depreciation, fixed asset additions and disposals are processed correctly.
  • Maintain a proper record of all journal entries processed, including recurring journals and year-end adjustments.
  • Determine monthly inter-fund balances necessary for regular settlement.
  • Assist in the year-end process including preparation of audit working papers, schedules, supporting documentation and approved year-end adjustments.
  • Assist with the timely preparation of the financial statements for each of the three Secretariat Funds.
  • Assist with external audit queries.
• Treasury Management
  • Assist with the preparation of the daily liquidity reports.
  • Assist in preparing cash flow forecasts to meet cash flow requirements.
  • Ensure that all Bank accounts (UK and overseas) are monitored, reconciled to the financial system and are approved in a timely manner.
• General
  • Draw the attention of management to any potential risks and issues, identifying mitigating actions.
  • Ensure compliance with the Secretariat’s policies and procedures including periodic updates of applicable policies and procedures.
  • Contribute towards continuous improvement in Finance to deliver measurable and sustainable improvements in processes, especially in the Accounting Centre.
  • Perform any other duties as may be required from time to time.

Person Specification

• Education
  • Degree in Finance, Business Administration or a related Finance discipline; or CIMA/ACA/ACCA qualified, or part-qualified, and actively undertaking professional studies.
• Experience and Skills
  • Five years’ experience in a similar Finance role.
  • Experience in preparing balance sheet reconciliations, including experience on month-end close.
  • Experience of fixed asset accounting.
  • Experience of liaising with external auditors.
  • Working knowledge of IPSAS or IFRS would be advantageous.
  • Experience of bank reconciliations, including foreign currency bank accounts.
  • Experience of multi-site and multi-currency reporting would be advantageous.
  • Experience of working with CODA Financials or a similar accounting package or ERPs.
  • Strong IT skills; experienced in using Microsoft Office products with a strong working knowledge of Excel.

Competencies

• Respect for Diversity
  • Works effectively with people from all backgrounds. Treats all people with dignity and respect. Treats men and women equally. Shows respect and understanding of diverse points of view and demonstrates understanding in daily work and decision-making. Examines own biases and behaviours to avoid stereotypical responses and does not discriminate against any individual or group. Identifies biases in systems and processes.
• Working with Others
  • Regularly shares information of value with colleagues. Shows commitment to delivering on key agreements made to colleagues. Makes an effort to view a situation from the other party’s perspective as well. Demonstrates awareness and sensitivity to colleagues’ pressures. Utilises networks to ensure similar goals are achieved collaboratively. Develops long term relationships across cultures and/or geographical boundaries. Uses relationships to identify the best people to help in the completion of tasks. Tactfully deals with difficult people to gain buy-in and to manage their expectations.
• Developing & Applying Expertise
  • Takes advantage of opportunities to develop an area of expertise. Takes learning from previous experience and applies them appropriately. Demonstrates willingness to learn new skills and/or approaches.
• Adapting & Innovating
  • Recognises opportunities for improvement and proposes change with impact and effect. Helps others to evaluate and strengthen ideas. Quickly grasps new concepts and how to apply them. Demonstrates flexibility e.g. by working beyond own remit in order to achieve an objective inter alia. Will effectively reorganise activities when faced with changing contexts and demands. Welcomes and adapts to new ideas and/or approaches. Adapts personal style to meet the needs of others.
• Accountability
  • Takes ownership of assigned tasks, honours deadlines. Ensures timely delivery of outputs within defined cost and quality standard parameters.