Head of Exchequer Funds and Accounts

About the GroupThe Corporate Centre Group delivers a wide range of corporate services to enable people at HM Treasury and many of the other organisations who form part of the Treasury Group (including the Government Internal Audit Agency and the Debt Management Office) to operate effectively and efficiently. We are a diverse group, both in terms of our professions and in our ways of working. Our colleagues are based across 3 sites in London, Darlington and Norwich. The Corporate Centre Group consists of a range of teams and is led by two directors (one of Finance and one of Operations); Correspondence and Information Rights Finance & Commercial People & Capability Diversity, Inclusion & Belonging Treasury Business Solutions Multisite Darlington Economic Campus team Exchequer Funds & Accounts team About the teamThe Exchequer Funds and Accounts (EFA) team plays a fundamental part of the operation of government delivering a business-critical role for HM Treasury. It has responsibility for the management of the central Exchequer Funds involving the operation and accounting (including production of statutory accounts) for the National Loans Fund, Consolidated Fund and the Contingency Fund, and funding of all government departments. It manages the day-to-day issued gilts, International Monetary Fund transactions and issuing loans and taking deposits.EFA has oversight of the accounts and governance assurance of the Exchange Equalisation Account (EEA), managed by the Bank of England on behalf HM Treasury. EFA also manage the forecasting and monitoring of government cash flows (amounting to more than 2 trillion per annum) and leads on cross-government cash management policy.EFA has approximately 20 staff based across the London office and the Darlington Economic Campus. About the jobAs Head of Exchequer Funds and Accounts, you will have a wide and varied role with responsibility for leading business critical areas within HM Treasury.The system of annual reports and accounts is central to financial accountability in the public sector. It enables Parliament and the public to understand and consider the value for money offered by public spending and ensures Parliament can hold government to account.You will play a key part in the accountability framework leading on the production of the four Exchequer central funds accounts ensuring high quality reporting and driving forward good practice. You will also lead on the production of the management information for the central funds ensuring that key financial controls have operated effectively for assurance to the Accounting Officers. In addition, you will have responsibility for the oversight of the Bank of Englands management of HM Treasurys gold and foreign currency reserves and the funding of Supply payments to government departments, standing service payments, Consolidated Fund receipts, pay overs and payrolls as well as daily management of gilts, IMF transactions, loans and deposits.You will lead on policy advice relating to the central funds and will collaborate closely with key senior stakeholders including the National Audit Office, as the departments external auditors, the Treasurys Audit and Risk Committee, Bank of England, Debt Management Office and Permanent Secretary.You will need to demonstrate excellent technical expertise in International Financial Reporting Standards as well as strong problem-solving skills. You will have the capability to clearly explain your thinking both in writing and in person. You will be tenacious in overcoming challenges and see your ideas through into action and delivery.You will look to identify and implement efficiencies and innovation into processes and drive forward a programme of continual improvement to ensure the Annual Report and Accounts meet standards of good practice in financial reporting. You will also be a strong leader with the skill to articulate a vision, engage and motivate people to deliver results. You will support the ongoing learning and development of your team and demonstrate dedication to inclusive team values.The key accountabilities include:Annual Report and Accounts, Management Accounting and Funds OperationsDeliver the four central funds annual report and accounts, prepared according to International Financial Reporting Standards, meeting the financial accountability requirements of the public sector.Lead the production of the management accounts for the central funds accounts and ensuring that key financial controls have operated effectively providing relevant assurance to the Accounting Officers.Lead engagement with external auditors to agree appropriate accounting treatment including on new policy areas affecting the financial statements.Lead the funding of Supply payments to government departments, standing service payments, Consolidated Fund receipts, pay overs and payrolls as well as daily management of gilts, IMF transactions, loans and deposits.Oversee the Bank of Englands management of HM Treasurys gold and foreign currency reserves to ensure compliance with departmental and fiscal objectives.Technical accounting and contribution to the development of policy adviceLiaise with policy teams to provide financial reporting and funds related support and advice on the implications of government interventions and policy development on the central funds accounts, acting as an EFA representative on steering boards of significant projects as needed.Analyse technical financial issues and communicate complex financial information and risk to a wide range of senior stakeholders. Business continuity and system supportLead the business continuity and risk management function for the central funds.Management ResponsibilitiesLead an inclusive EFA team with strong alignment to HM Treasury values, including ensuring sufficient ongoing development opportunities are provided to all staff.Lead a programme of continual improvement in financial reporting and identify and implement efficiencies.Contribute to the wider management of the EFA and Finance teams through working with the other branch heads and the Deputy Director Finance, Exchequer Funds and Accounts.