Financial Accountant 12 month FTC, FINANCIAL REPORTING & CONTROL

Description Department Overview The Financial Reporting & Control team is responsible for oversight and review of the financial control and accounting policy framework for the Bank of England (including the PRA) and its subsidiaries, including the Bank of England Asset Purchase Facility Fund (BEAPFF), and the Bank of England Alternative Liquidity Facility (BEALF). It is also responsible for preparation of the annual report and accounts and the weekly report and leads on testing requirements in respect of the general ledger. Job description The Financial accountant will be responsible for reporting on the Bank of England's balance sheet and income (split across different portfolios) and subsidiaries of the Bank. Reporting responsibilities includes both internal and statutory external reporting (annual report and accounts) and taking ownership of portfolios assigned to them and ensuring that Finance operates a robust control framework.” In addition, in 2026, the Bank intends to implement a new general ledger and new reconciliations systems as part of a significant transformation of IT and Central Services operating model. The jobholder will have an important role to shape and deliver this implementation, to upgrade the team’s general ledger and reporting processes and improve financial reporting outputs and analysis for stakeholders. The position will report into a Senior Financial Accountant. Role Requirements Financial reporting • Lead on the production of the annual report and accounts process for the Bank, Notes department, PRA, BEAPFF and BEALF ensuring they adhere to IFRS where applicable. Work with other business areas and external auditors as required (both the National Audit Office and EY) to meet financial reporting requirements and audit processes. • Provide analysis and impact assessment on the Bank’s statutory and internal reporting in light of any policy decisions and lead on presenting these at relevant committees. • Reporting and management information for portfolios, including posting and overseeing the posting of month end adjustments into the general ledger, completing/reviewing reconciliations, obtaining substantiation, completing analytical review of movements and providing commentary. • Completing daily/weekly profit and loss reports for assigned portfolios and working with front office to resolve any issues. • Preparation of forecast and budget numbers and providing commentary and explanation of variances. • Drive and lead on improvements in the financial control framework. System change and general ledger improvements • Lead on the system design change projects including holding working groups, guiding team members and internal stakeholders through test plans and documenting conclusions. • Represent Finance and support the delivery of system change projects and understand the change to various system interfaces. Accounting policy • Able to understand and apply accounting standards for portfolios including effective communication of accounting matters to senior management. • Interpret the impact of accounting standards on the necessary ledger accounting and support Technology and the front office in implementing the necessary changes. • Support the decision makers in the Bank in understanding the accounting and disclosure implications of policy and investment decisions. Support the external auditors in their review of the Bank’s accounting policy and disclosure approach. Team building • Support senior management with ad hoc projects and activities. • Provide support across the financial control and reporting team. Minimum Criteria • Be a qualified accountant (ACA/ACCA) with a minimum of 5 years post qualification experience, ideally in financial services and in financial control and statutory reporting (IFRS experience preferable) • A self-starter and quick learner with strong IT skills, including Excel (ability to do pivot tables, synthesise and accurately manipulate and present often complex data), and the ability to learn new IT systems and processes • Strong experience of effective and confident engagement with different stakeholder groups across an organisation • Able to build and maintain effective working relationships across an organisation • Have excellent written and verbal communication skills that transcend across a variety of audiences, both verbally and in writing • The ability to motivate yourself and develop and drive forward ideas with limited oversight • Excellent attention to detail and able to quickly develop and understanding of the Bank’s operations and functions, helping to ensure the output of Finance is accurate and relevant • Have excellent workload management skills with a core focus on delivery • Be flexible and adaptable in order to ensure tasks are prioritised effectively and delivered on time • Be an excellent team player and able to work collaboratively with others and share knowledge Desirable Criteria • Accounting policy knowledge and experience researching accounting standards • The ability to take initiative and drive for results with limited oversight. • Able to communicate, succinctly and in simple terms, both verbally and in writing. • High attention to detail, ensuring work output is accurate and relevant. • Good workload management skills with a core focus on delivery. Be flexible and adaptable in order to ensure tasks are prioritised effectively and delivered on time. • Be a team player and able to work collaboratively with others and share knowledge. 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. The London salary for this role is: £51,440 - £57,870. 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 1/65th) 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 disc