JOB SUMMARY

Ofgem is Great Britain’s independent energy regulator. We’re at the forefront of change across the energy sector, driving towards Net Zero whilst protecting energy consumers, especially vulnerable people.
Ready to take a key role in Ofgem’s financial operations? As a Finance Operations Officer, you’ll ensure accurate and timely processing of the monthly VAT return and cashflow, contribute to month-end procedures including fixed asset register maintenance, as well as support the audit of Ofgem’s Annual Report and Accounts.
Your expertise spans various areas. You’ll expertly assess the VAT treatment of expenses in line with HMRC rules for Government departments. You’ll also excel in understanding the changing requirements around VAT and how they affect Ofgem’s return as well as help address VAT queries from the wider Ofgem business.
Your commitment to accuracy is key as a Finance Operations Officer as you’ll handle balance sheet reconciliations and adjustment journals, actively investigating discrepancies and coordinating with stakeholders for resolutions. You’ll also build the expertise to support the preparation of the monthly cashflow submission to HM Treasury. Your role is instrumental in supporting external audits of Ofgem’s Annual Report and Accounts, ensuring compliance with auditors’ queries and delivering necessary audit evidence within set deadlines.
Building effective relationships is pivotal to your role. You’ll foster strong connections with multiple teams, including the Accounts Payable Team, Procurement Team, Management Accounting Team, Finance Business Partners, as well as contract managers and budget holders across Ofgem. You’ll also engage externally with the National Audit Office.
If you’re prepared to contribute your skills to our dynamic team, playing a crucial part in maintaining Ofgem’s financial stability and accountability, we invite you to apply and become an integral part of our organisation.
Ofgem values inclusion, celebrating the diverse voices and experiences of our colleagues. We encourage different perspectives and experiences in our work, making everyone welcome in our inclusive workplace, where employees can bring their authentic selves to work.

JOB DESCRIPTION

Key Responsibilities

• Prepare monthly balance sheet reconciliations, investigating discrepancies and liaising with relevant stakeholders to resolve.
• Prepare monthly VAT return, ensuring VAT is reclaimed in line with HMRC’s Contracted Out Services headings.
• Maintain the Fixed Asset Register, processing additions, disposals and depreciation.
• Support the external audit of Ofgem’s Annual Report and Accounts – assist with the management of the Client Liaison Schedule to ensure all samples and required audit evidence is provided to the auditors by the required due dates; liaise with various stakeholders to address queries raised by the auditors.
• Support other external reporting including working with teams across Ofgem to prepare the monthly cash flow forecast for submission to HM Treasury.
• Provide accurate advice and guidance to teams across Ofgem on accounting policies and systems including the recoverability of VAT on purchases.
• Build effective relationships with the Management Accounting Team, Accounts Payable Team, Finance Business Partners and other corporate services functions such as Payroll.

Key Outputs and Deliverables

• Month end tasks are prepared to timetable, including accurate and fully reconciled balance sheet reconciliations, the VAT return, and the cash flow forecast.
• Audit evidence and responses to audit queries are provided on a timely basis and satisfy the auditors’ requests.
• Prompt responses and accurate advice is provided to teams across Ofgem, delivering a high level of service.

NATIONALITY REQUIREMENTS

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements

Key Responsibilities

• Prepare monthly balance sheet reconciliations, investigating discrepancies and liaising with relevant stakeholders to resolve.
• Prepare monthly VAT return, ensuring VAT is reclaimed in line with HMRC’s Contracted Out Services headings.
• Maintain the Fixed Asset Register, processing additions, disposals and depreciation.
• Support the external audit of Ofgem’s Annual Report and Accounts – assist with the management of the Client Liaison Schedule to ensure all samples and required audit evidence is provided to the auditors by the required due dates; liaise with various stakeholders to address queries raised by the auditors.
• Support other external reporting including working with teams across Ofgem to prepare the monthly cash flow forecast for submission to HM Treasury.
• Provide accurate advice and guidance to teams across Ofgem on accounting policies and systems including the recoverability of VAT on purchases.
• Build effective relationships with the Management Accounting Team, Accounts Payable Team, Finance Business Partners and other corporate services functions such as Payroll