Corporation Accountant recruitment

Organisational overview

NEST is a new workplace pension scheme designed specifically to meet the needs of a target audience largely new to pension saving. NEST is easy to use for members and their employers.

NEST Corporation is the Trustee of the scheme responsible for its day-to-day running. It’s a non-departmental public body independent of government but accountable to Parliament through the Department for Work and Pensions.

The organisation is split into two financial entities. The NEST Corporation is responsible for the oversight and monitoring of the NEST Pension Scheme. The Pension Scheme is a savings vehicle for members.

Departmental overview

The NEST Finance Directorate is currently split into four functions: Scheme Accounting, Financial Accounting for the NEST Corporation, Management Accounting, Funding and Charges. These functions are being brought together in two teams: Financial Accounting (covering the first two functions) and Management Accounting (covering the last two). We are in the process of transitioning the work of the Financial and Management Accounting teams from Newcastle to London.  The Financial accounting team for the NEST Corporation is responsible for the:

•Preparing statutory accounts and monthly financial accounts

•Preparing routine finance reconciliations to support the financial statements

•Providing financial support to the corporation and working with the Management Accounting team

•Maintaining the purchase ledger, processing payments for £20m of budgeted expenditure

•Maintaining the general ledger, and postings into the finance system (SAGE)

•Treasury management and reconciliation of payroll payments to NEST Corporation

Job title and overview

Corporation Accountant

The Corporation Accountant is responsible for the financial reporting and controls of NEST Corporation. This covers all aspects of financial reporting, from preparing the Corporation’s annual financial statements, oversight of the all ledgers (including purchase ledger), treasury controls and process improvement. This role involves providing detailed support to auditors, external – National Audit Office (NAO) and internal – Deloitte. The Corporation Accountant will work with the newly appointed ledger accountants to develop and enhance financial controls and reporting. 

Role deliverables

The successful candidate will have responsibility for the following deliverables and activities:

•Financial accounting processes for NEST Corporation including the linkage and interaction with the Scheme accounting team.

•Production of the NEST Corporation’s financial statements, in accordance with the UK Government’s financial reporting manual. This will include the production of all reconciliations to support monthly accounting and reporting, as well as annual statutory reporting.

•Management of cash flow in and out of the NEST Corporation bank accounts.

•Working with the financial accounting team in Newcastle to support the successful migration of the financial accounting processes from the Newcastle office.

•Working with the Management Accounting team to ensure the smooth running of end to end processes.

•Liaison and support of the external auditors National Audit Office (NAO) and internal auditors Deloitte in their audits.

•Overview of NEST tax compliance and liabilities.

•Development of the newly appointed Ledger Accountants, working with them to develop their knowledge and to improve and enhance the financial controls of NEST Corporation.

•Sage administrator, responsible for system access of the NEST Finance Team, designing and reporting SAGE usage and maintaining the chart of accounts for the Corporation.

•Monthly and ad hoc reporting to the Department of Work Pensions, including Whole of Government Accounting return.

Candidate requirements

Experience required

The successful candidate will be able to demonstrate the following experience:

•Significant post qualification financial accounting experience with detailed knowledge of the UK Public Sector and Government accounting (FReM).

•Previous experience of producing accounts and cash management for a Public Sector body.

•Previous experience of working for a non-Departmental Public Body or Public Sector Body to support the interactions between the Corporation and the UK Government regarding financial matter.

Personal attributes required

•Being adaptable to a changing and challenging environment by applying accumulated experience and business acumen.

•Ability to lead, motivate and develop others through a period of change as a basis for a strong team dynamic going forward.

•Strong advocate of finance and financial controls and able to demonstrate accuracy and diligence with the ability to be autonomous.

•Strong analytical skills with an attention to detail with the ability to look at issues from a private or public sector or other stakeholders view, as appropriate.

•A good teamwork ethic, as NEST Finance is a small team covering all of the entity’s finance functions together with the ability to communicate across the whole finance team and wider organisation.

•Positive, proactive attitudes, able to work on own initiative and who relishes new challenges with a drive to secure a successful outcome.

Education/qualification requirements

•Full accountancy qualification (e.g. ACA, ACCA, CIMA, CIPFA, etc.).
 

Conclusion

This is an exciting opportunity to join a team at a critical stage of the organisation’s transformation.  The role offers the successful candidate the opportunity to lead the NEST Corporation Finance Team developing self and others through challenging the operational controls and financial reporting.