38168 - Commercial & Corporate Finance Specialist

We welcome and encourage applications from everyone, including groups currently underrepresented in our workforce and pride ourselves as being an employer of choice. To find out more about how we champion diversity and inclusion in the workplace, visit: https://www.gov.uk/government/organisations/ministry-of-justice/about/equality-and-diversity

Overview

The Ministry of Justice (MoJ) delivers some of the most fundamental services any state owes its citizens. The MoJ has responsibility for a number of different parts of the justice system - the courts, tribunals, prisons, legal services, youth justice, and probation services. Our work spans criminal, civil, family, and administrative justice and we are also responsible for making new laws and safeguarding human rights. We work in partnership with other government departments and agencies to serve the public, improve the justice system, and support victims of crime.

These roles are an opportunity to be part of the team leading on Commercial Finance, Income and Debt Management across the department, a high-profile, high-risk, complex area, as a member of the Financial Strategy, Planning and Performance directorate within Finance.

Highly suitable for individuals who thrive on stakeholder engagement and resolving complex cross-departmental issues. We welcome applications from high calibre individuals who would relish the opportunity to develop our services and influence decision-makers.

About the Ministry of Justice

MOJ is one of the largest government departments, employing around 70,000 people, with a budget of approximately £9 billion. Each year, millions of people use our services across the UK - including at c500 courts and tribunals, and c130 prisons in England and Wales.

We work to protect the public and reduce reoffending, and to provide a more effective, transparent and responsive criminal justice system for victims and the public. Further information can be found at https://www.gov.uk/government/organisations/ministry-of-justice

Job Title

Commercial & Corporate Finance Specialist x 2

Team / Directorate / Group

Commercial Finance & Income, Financial Strategy Planning and Performance Directorate/CFO Group.

Reports To:

Commercial Finance – Supplier Health and Markets G6

Income and Debt Management G6

Location & Terms of appointment

This is a permanent post. The successful candidate can be based anywhere in the country.

We have headquarters offices in London, Croydon and Leeds

Salary and Grade

There are 2 Band B posts (SEO).

New entrants to the Civil Service will be expected to join within the civil service pay range. Existing Civil Servants will have their salary calculated in accordance with the Department’s pay on transfer / pay on promotion rules.

Background

A significant amount of MoJ’s budget is spent on external 3rd party suppliers. As part of our contractual The MoJ spends approximately 40% of its budget on external suppliers. Commercial contractual arrangements present complex and material challenges and issues where prompt intervention is required to manage and mitigate risk. Identification, management or mitigation of these risks is of vital importance to the Department.

The Department earns almost a fifth of its gross annual budget (c. £2bn) through fees, fines and commercial income, so understanding and protecting this income is a key strategic goal of the Department.

The Commercial Finance and Income team collaborate with key stakeholders across the Department to identify opportunities and manage risk in these areas and the roles are expected to work flexibly across both Income and Debt Management and Commercial Finance.

Role Purpose

Income and Debt Management

One element will require working within the team to ensure a consistent approach that helps achieve MoJ’s policy objectives, while protecting and maximising the department’s income. You will do this through working in different ways, according to the income stream or debt book in question and its significance to the department. For some income streams you will provide significant input, influencing the strategic direction and acting as a critical friend during policy development. For others, you will work in more of a consultative role, using your technical expertise to support finance business partnering/finance teams. You will also support work on taking advantage of opportunities to generate income.

You will work across different boundaries, as directed, balancing financial, legal and policy issues and exercising sound judgement to protect and maximise the department’s income. You’ll build strong and trusting relationships with policy, analytical services, operations and finance teams across the organisation, working on a collaborative way to support the development of new initiatives and the resolution of issues.

Commercial Finance

These roles will also support the major work streams of the team from a commercial finance perspective. These include monitoring supplier financial health, providing technical, commercial and corporate finance expertise, identifying, managing and remediating commerical and corporate finance risks and providing expert financial advice to support major commercial and change programme decisions.

You will support the Department on major dispute investigations, sharing best practice and collaborating with colleagues from Other Government Departments, playing a crucial role in reducing the Department's exposure to financial risk.

Main Activities / Responsibilities

Responsibilities, Activities and Duties may include a combination of the following, as required:

• Acting as a subject matter expert on setting fees and charges, with respect to Managing Public Money and within the appropriate legal framework;
• Supporting policy-makers and other key stakeholders to ensure, as far as possible, income is protected and maximised within legal constraints, but challenging risk aversion;
• Supporting the development of advice and assurance to senior officials, the Income Board and Ministers on new and existing income streams or programmes as well as complex, high risk and/or value commercial finance elements;
• Supporting work to ensure income and debt are accurately represented in planning rounds and forecasts;
• Assisting with assessments of commercial income opportunities;
• Providing corporate and commercial advice on the financial implications of commercial contracts, major programme decisions, supplier disputes and claims, fraud and financial crime;
• Undertaking reviews of existing contracts to ensure MoJ is gaining the maximum economic value;
• Working with senior stakeholders to identify risks, weaknesses and interdependencies in the Department's commercial arrangements. Supporting the development of plans to mitigate and address these, collaborating with and influencing colleagues and stakeholders from across the Department.
• Development of commercial finance policies and support enabling their introduction and implementation in the relevant business areas. These will include learnings from key cross-government guidance documents, in particular the Outsourcing Playbook, as well as sharing expertise with Other Government Departments;
• Leading on or supporting financial ‘keyholder’ reviews of business cases and working with business areas to provide expert support in the development of business cases;
• Conducting analysis of suppliers’ financial statements and wider market trends, providing risk ratings and recommendations. You may also be required to support the financial assessments of supplier financial health for large procurement processes;
• Developing and supporting delivery of training required to upskill Finance Business Partners across the Department's various business areas;
• Actively building and maintaining a network of colleagues and contacts at all levels across the MoJ including policy, analysts, operations, commercial and finance colleagues, to achieve objectives and progress shared goals;
• Ensuring MoJ has appropriate controls in place to avoid regularity and propriety issues, advising and working with stakeholders to deliver improvements as required;
• Taking opportunities for sharing relevant best practice and knowledge across MoJ and cross-government;
• Acting as a role model for more junior staff, building confidence in their ability to deliver and ensuring that professional training requirements are met.

Person Specification:

Behaviours (Essential):

• Seeing the Big Picture
• Making Effective Decision
• Communicating and Influencing
• Working Together

Experience, Ability and Skills (Essential):

• CCAB qualified accountant (i.e. ICAEW, ICAS, ICAI, ACCA, CIMA, CIPFA) or a recognised equivalent, or working towards achieving such a qualification;
• Proven ability to meet tight deadlines within unpredictable and demanding environments whilst delivering high quality products;
• Proven ability to engage and communicate effectively with colleagues at all levels;
• The confidence to challenge and influence at all levels;
• Strong track record of building excellent stakeholder relationships;
• Balance policy aspiration and delivery, outline risk and benefits of different options to achieve value for money ensuring all submissions contain appropriate financial information
• Weigh up priority and benefits of different actions and activities to consider how to achieve cost effective outcomes
• Excellent Microsoft Office Excel and Word Skills

Experience, Ability and Skills (Desirable):

• Analytical skills;
• Commercial experience.
• Knowledge and experience of interpreting the Consolidated Budgeting Guidance and Managing Public Money