Finance Model Analyst

London, England, United Kingdom

12/11/2024

Central Services is at the heart of the Bank and integral to enabling it to deliver its vital mission by providing: assurance of a safe, efficient and robust operational running of the Bank; delivery of a strategic approach to prioritisation, planning and change; achievement of its cultural and sustainability commitments; as well as creating and supporting an employee population that better represents UK society, alongside allowing all to succeed and thrive in the workplace whether through technology or place.

About the Role

To drive performance improvement across Central Services by providing a step-change in financial transparency about what Central Services cost to delivery, why, and how these costs are allocated.

The role is a strategic enabler for a new financial operating model for Central Services and sits within a Centre of Excellence for performance improvement that has been established to drive efficiency, effectiveness, and productivity of the enabling services that the Bank relies on every day.

This role also has a matrix arrangement with a secondary reporting line to the Finance Business Partner for Central Services.

Key accountabilities are to:
o Contribute to the Performance team's programme of work by identifying high-impact opportunity areas to apply financial analysis and insight, contributing to the team's mission to transform the efficiency, effectiveness, and productivity of Central Services.
o Develop and own the analysis and reporting required by the evolution of the Central Service financial operating model, enabling a new level of accountability to service users.
o Design and deliver expert financial analysis as an integral part of performance reviews.
o Create and maintain financial models and dashboards that deliver a step-change in transparency about financial performance and its drivers.
o Contribute to performance reviews with service owners by exploring root causes and improvement opportunities from a financial perspective.
o Act as an internal coach to Central Services to promote an empowered culture of financial accountability.

Role Criteria:
Key behaviours, experience, knowledge, and skills required to be successful in the role.

o Financial acumen. Financial acumen, including analysis of financial data, budget formulation and financial monitoring and understanding value for money.
o Data analysis. Expert ability to analyse, evaluate, and communicate diverse and ambiguous information.
o Project delivery. Advanced skills in planning, executing, and monitoring project delivery.
o Planning and organising. Ability to build strong networks and manage relationships across a variety of functions.
o Planning and organising. Strong ability to plan and manage resources to balance changing demands.
o Communication skills. Excellent written, verbal an

Role Requirements:

Minimum:
o Financial acumen. Financial acumen, including analysis and insight of financial data, budget formulation and financial monitoring and understanding value for money.
o Data analysis. Expert ability to analyse, evaluate, and communicate diverse and ambiguous information.
o Demonstrable experience creating financial models and dashboards that have delivered a step-change in transparency about financial performance and its drivers.

Essential:
o Design and deliver expert financial analysis as an integral part of performance reviews.
o Project delivery. Advanced skills in planning, executing, and monitoring project delivery.
o Planning and organising. Ability to build strong networks and manage relationships across a variety of functions.
o Planning and organising. Strong ability to plan and manage resources to balance changing demands.
o Communication skills. Excellent written, verbal and communication skills to share findings, improvement opportunities, and a compelling case for change.

Desirable:
o Qualified or part-qualified accountant CIMA/ACA/ACCA (or equivalent).
o Previous experience in a programming language (R, Python).
o Banking experience is desirable but not essential.

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.

Salary:

London circa £65,755 - £75,000
Leeds circa £59,200 - £68,000


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

• A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year.
• 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 5th Jan 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.



Desired Skills and Experience

Financial acumen. Financial acumen, including analysis and insight of financial data, budget formulation and financial monitoring and understanding value for money.
Data analysis. Expert ability to analyse, evaluate, and communicate diverse and ambiguous information.
Demonstrable experience creating financial models and dashboards that have delivered a step-change in transparency about financial performance and its drivers.