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Team Member - Accounts Payable

We have recently created a new Shared Services Directorate, which has been formed by centralising operational colleagues from Human Resource, Finance, Technology and Property, Procurement & Security (PPSD) to enable a focus on operational service delivery. The Shared Services Directorate is structured as PPSD, Business Services and the Central Services COO.

The Business Services Division is an efficient and effective operational service undertaking financial and people processes for colleagues in the Advisory areas of Finance & Performance and People & Culture. It is also responsible for meeting the Bank's requirement for User Access Management, Information Management and Management Information. Our vision is to provide a streamlined, efficient operational service to colleagues through a focus on process improvement, people development and automation.

Department Overview

Following the creation of Shared Services the team structures within the directorate have been reviewed and aligned to best fit the directorate’s strategy. The Shared Services Directorate consists of PPSD and Business Services. This role is part of the Accounts Payable team in Business Services which provides Finance operational service to colleagues in Finance and around the Bank.

The Accounts Payable team pays suppliers, implements the Control Framework for the Bank’s expenses and ensures expenditure and income are accurately recorded in the Bank’s financial and tax records.

Job description

The team’s main responsibility is to ensure that income integrity of the general ledger. The role involves performing a number of regular daily, weekly, monthly and ad-hoc operational tasks, including:

• Invoice processing and payment of the Bank’s suppliers via the CODA Invoice Matching system
• Second line approval on all expenses including EDs, DGs, the Governor and external committee members
• Investigation of invoices not matched to orders
• Maintaining supplier details, dealing with queries
• Monitoring and reconciliation of the Bank's cash accounts ( including the reconciliation of income received into the Bank)
• Advice and training of key contacts in business areas
• Supplier and customer liaison management
• Assisting with audit queries

Role Requirements
Minimum (Essential) Criteria

• Good IT skills, and able to learn new IT systems and processes
• Strong attention to detail and excellent workload management skills with a core focus on delivery
• A willingness to learn and develop themselves, and to take on new responsibilities
• An excellent team player and able to work collaboratively with others and share knowledge

Essential criteria:

• An understanding of the Bank's accounting structure, tax and processes relevant to paying invoices
• Experience of using different systems (such as Facilities Online and Coda) and familiarity with Excel
• Able to communicate effectively with a range of stakeholders at various levels from both within and outside the directorate
• Demonstrated ability to maintain strict confidentiality; you will have access to and be working with data pertaining to employees.

Desirable Criteria

• Previous experience of Invoice and expenses processing and reconciliations
• Familiarity with checking processes and experience applying and interpreting rules and investigating issues sensibly and logically
• Experience in a customer service role and having the skills to deal with difficult situations or people

The Bank values diversity and inclusion – we want to reflect the society we serve better, we want the best people to work for us and we want our workplace to be inclusive. We value all forms of diversity, including but not limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation. One way we support diversity and inclusion is through our staff-run networks, which are summarised here.

We are fully committed to having a diverse and inclusive working environment, and are open to considering how the role might be carried out with flexible working.

Where a role can be carried out from home, we are working towards colleagues spending at least half of their time in the office, so that we can all benefit from working together in person, while maintaining the flexibility offered by home working. From 6 June 2022, we expect colleagues to spend a minimum of 40% of their working time in the office per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them and their team.

We are also committed to making adjustments for candidates and employees where possible, and have partnered with external expert organisations to support us in this. We are a member of the Disability Confident scheme, summarised here, and people who wish to apply under this scheme should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.

We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please fully complete the application form questions as requested, as any incomplete submissions may not be reviewed.

The Bank of England is a distinctive institution and our rewards are one of the things that set us apart. As well as enjoying a competitive salary you will work in a collaborative, inclusive environment, with a subsidised restaurant, flexible working opportunities and plenty of wellbeing initiatives.

This specific role offers a base salary range of £24,225 - £27,000 per annum (depending on skills and experience) on a full-time basis.

In addition we also offer a comprehensive benefits package as detailed below. We encourage flexible working & part time working , therefore both salary and associated benefits will be adjusted on a pro-rata basis for part-time colleagues

• 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 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits. (Note that from April 2023 and for the Benefits year 2023/24, this will increase to 8%)
• 26 days annual leave with option to buy up to 12 additional days through flexible benefits. (Note: effective from April 2023)
• Private medical insurance and income protection.

Employment in this role will be subject to National Security Vetting clearance and the passing of additional Bank security checks in accordance with Bank policy from time to time. Further information of vetting and security clearance requirements for the role will be provided to the successful applicant. Further information about how the Bank processes personal data for these purposes, is set out in the Bank’s Privacy Notice at Privacy and the Bank of England | Bank of England.

The closing date for applications is 9th April 2023