Financial Accounting Analyst in FRMD Traded Risk-EEA Rpting & Accts

Financial Accounting Analyst in FRMD Traded Risk-EEA Rpting & Accts

Job Description

This role is for a Financial Accounting Analyst position within EEA Financial Reporting and Accounting team.

This unique and high profile role provides an excellent opportunity for a part-qualified/trainee accountant to join our team and develop your financial reporting and technical accounting skills in a friendly and supportive environment. This role will also provide you with valuable insights into financial market operations conducted for the EEA.

The role combines a wide range of accounting, analytical, and technical/systems responsibilities, including:

• Daily Profit and Loss reporting
• Daily financial controls and reconciliations
• Monthly financial and management accounts
• Monthly statistical reporting to the International Monetary Fund (IMF) and other stakeholders
• Supporting the production of the statutory annual accounts and Whole of Government Accounts (WGA)

The team is responsible for the integrity of the financial accounting data generated by the Bank's trading and accounting systems, ensuring all financial controls are robust and effective.

The team also produces the statutory annual report and accounts, manages the audit process with the National Audit Office (NAO), liaises with HM Treasury, and supports policy and operational initiatives for managing the EEA.

The team collaborates with the Traded Markets Team (TMT) in the Financial Risk Management Division (FRMD) as well as other areas within Markets & Banking, offering a chance to expand knowledge and gain experience in a diverse environment.

Role Requirements

Minimum Essential Criteria

Applications are encouraged from those who are currently undertaking professional qualifications (ACCA/CIMA/ACA, or equivalent) or are considering professional qualifications, with the following key attributes:

• Strong IT skills (including Excel) with an ability to adapt and learn different software packages/applications
• Good awareness of financial controls and the importance of reducing/mitigating operational risk
• Good problem-solving and analytical skills with an ability to interpret information
• The ability to work effectively both independently and within a team, and able to manage and prioritise workload effectively
• Attention to detail and a strong focus on delivery
• Ability to engage with and build effective relationships at all levels
• A desire to develop accounting knowledge and experience within a financial markets environment
• A keenness to embrace change and support change programmes
• Ability to identify and implement operational improvements and seek ways to add value

Desirable Criteria

• Some Knowledge and/or experience of financial markets and banking operations, particularly with fixed income and derivatives
• Experience using OpenLink, although full training will be provided
• Experience of supporting projects

Our Approach to Inclusion

The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.

At the Bank of England, we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it's by drawing on different perspectives and experiences that we'll continue to make the best decisions for the public.

We welcome applications from individuals who work flexibly, including job shares and part-time working patterns. We've also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they're needed.

For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.

Finally, we're proud to be a member of the Disability Confident Scheme. If you wish to apply under this scheme, you should check the box in the 'Candidate Personal Information' under the 'Disability Confident Scheme' section of the application.

Salary and Benefits Information

We encourage flexible working, part-time working and job share arrangements. Part-time salary and benefits will be on a pro-rated basis as appropriate.

This role offers a salary of:

London from £31,200 - £35,100

Leeds from £28,080 - £31,590

In addition, we also offer a comprehensive benefits package as detailed below:

• Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
• A discretionary performance award based on a current award pool.
• A 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
• 26 days' annual leave with option to buy up to 12 additional days through flexible benefits.
• Private medical insurance and income protection.

National Security Vetting Process

Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank's Privacy Notice.

The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case-by-case basis.

The Application Process

Important: Please ensure that you complete the 'work history' section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It's therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.

The assessment process will comprise of two interview stages.

This role closes on Mon 31st March 2025.

Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.

About Us

We are the UK's central bank - and we are a bank like no other; known by our peers for our world-leading thinking on policy and strategy.

Our mission is to promote the good of the people of the UK by maintaining monetary and financial stability. We seek to keep prices stable and people's money safe. We know our work matters to people, to families, up and down the UK. We are driven by curiosity and the desire to do important, challenging work.

It takes a great team to run the Bank of England. We rely on each other to play our part. We benefit from a collaborative culture and long-established flexible ways of working, supporting our colleagues balance their work and personal lives. We strive to be a place where people feel they belong and have equal access to opportunities, because different perspectives help us make the best decisions for the public.

There's much to gain from working with us - from career defining work at the heart of the UK economy, being part of a fantastic team, and a rewarding compensation package.

Join us and find a bank like no other. Together, we can make a difference.

The Bank of England will use and protect the information you provide when you apply for a role with us, in line with our obligations under data protection law. This is so we can assess your suitability for the role and administer your application. If you're successful we'll use it to offer you a position and onboard you to join the Bank.

If you would like more details about how your information will be used and your information rights, please visit our recruitment privacy notice.