Innovate UK - Finance Director

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UK Research and Innovation

Salary: from £87,565 per annum (final salary will be awarded in line with the UKRI pay and reward policy ), this role also qualifies to participate in the UKRI senior bonus scheme
Hours: Full time
Contract Type: Open Ended
Base Location: Swindon or London, hybrid working available with travel to both

About the role

The role will have accountability for the provision of high calibre professional financial management support to the CEO, Innovate UK and all directorates within IUK, IUK Loans Ltd and cross-UKRI Challenge Funding Programmes delivered with Innovate UK. The role will enable efficient and effective deployment of funding and other business support products and services in order to meet the IUK's objectives and to drive its financial performance, thus protecting and supporting the Chief Executive and the wider senior team.

As a senior member of the UKRI Finance Directorate the role may be allocated corporate tasks, be the subject matter expert for a particular technical area or issue and play a role in the development of UKRI Corporate Services.

A key challenge will lie in driving impact from public investment in business-led innovation, across a portfolio of domain-focused policy areas such as Net Zero, driving effective, agile use of products and services both nationally and internationally, and working within the high standards for managing public money.

Innovate UK works closely with Government Departments and other local and national public bodies, as well as many private sector innovation partners: from universities, to Innovate UK Catapults, to venture capital investors. Innovate UK requires a commercially astute finance leader to help manage these partnerships in an intelligent, sensitive and realistic manner.

The role requires significant experience in accountancy, extensive senior level experience, with excellent diplomatic and shrewd negotiation skills, and ability to collaborate and evaluate complex financial issues.

The role includes membership of IUK's Senior Leadership Team (SLT), attendance at the advisory Council and as a Director of IUK Loans Ltd, the special purpose vehicle delivering new finance products. As the Executive's key financial advisor, influencing important funding decisions for some of the highest quality business-led innovation programmes carried out by IUK on behalf of DSIT and multiple government organisations, domestically and abroad.

The role will also involve leading the finance relationship with any of IUK's partner bodies, including the Catapults, Agritech Centre(s) and Challenge delivery organisations making finance presentations as required at Council meetings (i.e. the Council's Board).

The role will be accountable to the UKRI Finance Director for ensuring effective financial management across IUK finances, ensuring IUK delivers within its budget, delivering an effective Finance Business Partner model for IUK, be a key part of the Finance Senior Leadership Team, escalating and leading on the management of key IUK financial risks, and ensuring a safe ERP system transition from Workday to Oracle Fusion.

The role will be accountable to the IUK Chief Executive on providing an effective finance service to IUK, advising on complex financial issues to the Chief Executive, the IUK Council and the IUK leadership team, managing the Council's finances effectively, and providing strong strategic financial analysis and advice to help drive execution of IUK's programmes.

Key Areas of Accountability

Leadership / Teamwork / Collaboration:

• Collaborating closely with IUK's Chief Executive senior team to ensure the effective management of the Council's finances and advising on complex financial issues
• Working with senior stakeholders within the IUK community, such as Catapults CFOs, that IUK funds, to ensure effective stewardship of UKRI funding
• Demonstrating and modelling a personal commitment to UKRI and IUK's vision, values and strategic objectives
• Leading the effective delivery of a high performing Finance service, through the further development of the Finance Business Partnering function, ensuring that the high standards within the team are developed and maintained
• Acting as an ambassador for the Finance Business Partner model, actively driving up standards to highlight the benefits of the model for all staff and managers
• Senior finance representative on major programme boards, including the ISCF Steering Board
• Actively managing direct reports, ensuring that PDRs, probationary meetings (where applicable) and regular one-to-one meetings take place to develop the skills and behaviours of the Finance team
• Implementing succession planning, identifying, mentoring and developing the next generation of Finance Business Partners
• Playing an active role in UKRI's senior finance team, led by the UKRI Finance Director. Being a highly visible ambassador for the function, and leading cross-cutting workstreams (e.g. within the finance function's transformation programme)

Delivery / Programmes / Projects / Process:

• Providing strategic Finance input to drive performance and continuous improvement in standards in support of IUK's objectives, working closely with the Chief Operating Officer, Chief Executive and other Executive Board colleagues
• Accountable for the delivery of a financial outturn consistent with the IUK's budget allocation, working closely with the Executive Team
• Developing a long-term financial plan for IUK to deliver against Spending Review 2021 outcomes
• Providing strong strategic financial analysis and advice in support of IUK's commercial activities
• Providing advice and guidance on the creation and subsequent delivery of robust, achievable project and programme business cases, including Financial sign-off of cases requiring UKRI investment committee approval
• Maintaining a robust internal control environment, consistent with HMT's Managing Public Money guidance, working closely with IUK and UKRI Governance, Risk and Assurance, UKRI Financial Controller, and senior Council colleagues
• Ensuring a safe transition from Workday to the SHARP implementation of Oracle Fusion, with transaction services to be provided by UKSBS. In the interim, being SRO for the HR and Finance SaaS system - Workday - managed by the Workday Product Team, ensuring all change activity is aligned to UKRI system development
• As a member of IUK's SLT, helping to drive implementation of the innovating Innovate UK change programme
• Supporting the UKRI Finance Director, by acting as the Finance lead on a range of different organisational projects and responsibilities

Your skills, qualifications and experience

The following criteria will be assessed throughout the recruitment process:

Essential:

• Qualified Accountant (ACA/CIMA/ACCA/CIPFA)
• Ability to lead a significant portfolio, with strong team working, development and collaboration skills
• High level communication, relationship building and influencing skills, and resilience
• Able to operate at a strategic level, demonstrate strategic vision and make a substantial contribution to corporate plans
• Advanced ability to positively influence stakeholders and collaborators
• Extensive experience and qualifications at senior level of financial management in middle or large sized public or private sector organisations
• Commercial know-how and the ability to play a lead role in advancing a Council's business development activity
• Experience in change leadership and delivery with a focus on achievement and continuous improvement, and ability to manage ambiguity and challenge
• Work strategically to balance the conflicting demands of multiple stakeholders whilst protecting the integrity of key financial processes

Desirable:

• Experience of public sector accounting, budgeting and controls (e.g. Managing public money requirements)

Other Information:

The closing date for the receipt of applications is 23:59 on Sunday 28 April 2024. Interviews are expected to be held in London on Wednesday 5 June 2024.

About UK Research and Innovation (UKRI)

UKRI launched in April 2018, UKRI is a non-departmental public body sponsored by the Department for Science, Innovation and Technology (DSIT).

Our organisation brings together the seven disciplinary research councils, Research England, which is responsible for supporting research and knowledge exchange at higher education institutions in England, and the UK's innovation agency, Innovate UK. Together we build an independent organisation with a strong voice and vision to ensure the UK maintains its world-leading position in research and innovation. More information can be found at www.ukri.org .

Choosing to come to work at UKRI means that you will have access to a whole host of benefits from a defined benefit pension scheme, excellent holiday entitlement, access to employee shopping/travel discounts and salary sacrifice cycle to work scheme. For more details, visit benefits of working for UKRI .

The role holder will be required to have the appropriate level of security screening/vetting required for the role. UKRI reserves the right to run or re-run security clearance as required during the course of employment.

How we support EDI in the workforce

At UKRI, we believe that everyone has a right to be treated with dignity and respect, and to be provided with equal opportunities to thrive and succeed in an environment that enables them to do so. We also value diversity of thought and experience within inclusive groups, organisations and the wider community. For further information, please visit ' How we support EDI in the workforce '.

Disability Confident Employer

As users of the disability confident scheme, we guarantee to interview all disabled applicants who meet the minimum criteria for the vacancy/ies. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

How to apply

Online applications only preferred for this role. Please submit a CV and covering letter which clearly outlines how you fulfil the criteria specified along with your motivation for UKRI and the role. Ensure that the job reference number is included in the filename description of each document uploaded. Note that failure to address the above criteria or submit an application without a covering letter may result in the application not being considered. Assessment will only be based upon the content of your submitted covering letter and CV and not the 'experience' section of the application.

UKRI seeks to ensure it creates and maintains a system of openness, fairness and inclusion - a collaborative, trusted environment, which is attractive to and accessible to everyone who is interested in developing their career with us.

Please note, to apply via the UKRI Careers Portal you will receive a notification confirming your profile has successfully been created (if you have not previously set up an account) and a second notification confirming your application for this role has been submitted. If you do not receive the second notification confirming your application for this role has been submitted or experience any other issues, please contact seniorrecruitment@ukri.org .