In recognition of the hurt caused by the infected blood scandal and highlighted by the Infected Blood Inquiry (IBI), the government has accepted the moral case for a compensation scheme to pay compensation to those infected and affected. This is being delivered by the new Infected Blood Compensation Authority (IBCA).
This role is key to delivering a robust compensation service. You’ll be the finance lead, joining together with operational teams delivering compensation, ensuring that the payment system captures the key finance requirements, and managing the ongoing flow of information, risks and processes. You’ll ensure information feeds longer term cash forecasts, that cash and compensation are correctly reflected from a finance perspective, and you’ll ensure all the necessary controls and reconciliations are in place.
Opportunities to move to the new Infected Blood Compensation Authority (IBCA).
At the moment all IBCA roles are hosted by Cabinet Office within the Civil Service. However, once IBCA becomes operational, it is anticipated that most of these roles will transfer to IBCA, which is a new Arms Length Body (ALB) separate from the Cabinet Office. Roles that transfer to IBCA from Cabinet Office will maintain the same or substantially the same terms and conditions of employment that are overall no less favourable. It is anticipated that employees who move from Cabinet Office to IBCA will be able to continue to participate in the Civil Service Pension arrangements with no break in their pensionable service. Roles commencing after IBCA has become operational will be with IBCA itself on similar terms and conditions. All successful candidates will receive full details of the terms and conditions of employment for their role with their formal job offer.
Please note that the mission of IBCA means that it is likely to be operational for a period of approximately 5 to 7 years. When IBCA’s work begins to wind down, IBCA employees will receive support and practical guidance to find a new role, whether in the Civil Service, another Arms Length Body (ALB), or an external employer.
The payment system specialist in IBCA will report directly to the IBCA Head of Finance. You will be expected to lead the finance team engagement with the operational teams delivering payment solutions for the compensation scheme. There are a range of considerations you’ll lead on, but ensuring the system has suitable controls and that the relevant data is captured for payments made and compensation agreed is crucial.
You’ll manage a direct report who will focus on day to day reconciliations and cash forecasting. As such, the ability to manage staff is key, aiding their professional development; managing a range of deliverables in a timely manner is essential. To support the organisation rapidly establish its processes and deliver to tight timescales, this role will from time to time require flexibility to assist with the wider finance deliverables.
Supported by an SEO, you will be responsible for:
· Leading the finance engagement with operational and digital teams to ensure systems:
o have appropriate design from a finance perspective
o have robust controls
o capture and report key data
· Oversee and develop cash forecasting processes in the short to medium term
· Work with modelling teams and the financial accounting team to ensure flow of information needed for valuation models
· The provision of systems accounting advice
· Lead on any cash and compensation specific reporting to stakeholders outside of the usual month end and annual reporting processes.
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