Senior Financial Assurance Manager

About Us

We are an arm’s length body of the Welsh Government, responsible for the strategy, funding and oversight of:

• further education
• higher education including research and innovation;
• apprenticeships
• adult community learning; and local authority maintained school sixth forms.

We work in close collaboration with our partners to enable a tertiary education and research system which is centred around the needs of learners; society; and economy with excellence, equality and engagement at its heart.

Our values really matter to us, they help shape the culture of our organisation:

• Dysgu (to learn; to teach; to educate) - learning is at the heart of everything we do. We believe curiosity fuels innovation and helps expand our horizons.
• Cydweithio (to work together; to collaborate; to co-operate) - we can achieve far more together than we ever could alone.
• Cynnwys Pawb (to include everyone; to involve everyone) - we are passionate about inclusion, seeking to create the right conditions for everyone to achieve their full potential.
• Rhagori (to exceed; to excel) - we have high aspirations for tertiary education and research in Wales and always set high standards for ourselves to be the best we can be.

We are proud to be a Disability Confident employer and accredited as a Living Wage employer.

Location

Our headquarters is in 2, Capital Quarter, Cardiff, which has been specifically designed to meet our needs. This is where most colleagues will meet to collaborate, both with each other and with stakeholders.

As we operate across Wales, we also have limited office and collaboration space in Welsh Government offices in Llandudno Junction, Aberystwyth, Swansea and Merthyr Tydfil.

Main Purpose of the Job

You will be responsible for monitoring the financial sustainability of providers in the Welsh tertiary sector - covering universities, colleges, apprenticeship providers and provision by local authorities.

Working in a small and impactful team, you will conduct significant external engagement, analyse provider submissions (covering actuals and forecast performance) and review data collections to form a rich understanding of the financial health of Welsh providers. This is critical to the successful delivery of post-16 educational provision in Wales.

You will shape and develop a rigorous but proportionate monitoring system for all parts of the sector. You will work collaboratively with external stakeholders and with colleagues right across Medr, ensuring that both existing and emerging risks are communicated and escalated, formally and informally as appropriate.

What you'll be doing

• Analyse and provide a critical appraisal of regulated providers’ financial performance and position; this will involve the preparation of templates and publications, review of institutions’ financial statements, finance records and forecasts, and production of a report for the Audit & Risk Assurance Committee and Medr’s Board.
• Build relationships and meet with provider finance teams to develop a broad understanding of their financial forecasting models and long-term sustainability plans.
• Provide advice and guidance to providers relating to financial reporting.
• Input into work with other UK funders and regulators and other UK representative bodies on major areas of development in the sector.
• Input into work with other stakeholders – including the Welsh Government and external auditors.
• Manage and develop the financial aspects of Medr’s regulatory processes to reflect the new regulatory framework and external changes in regulation and risk environment.
• Carry out ad-hoc financial reviews and investigations on behalf of the Chief Executive or the Audit & Risk Assurance Committee
• Monitor compliance with Medr’s regulatory conditions relating to financial sustainability and management.

Key Challenges

Robust assessment of sector financial returns and intelligence to identify key trends and risks and appropriate dissemination of these.

Maintaining credibility and trust with a range of partners including our senior leadership team, key stakeholders and finance professionals within the tertiary education sector.

Challenging assumptions and appropriately alerting Medr’s leadership and Welsh Government to key risks.

Ensuring continuance of robust ongoing oversight as we adapt our engagement & monitoring approach to meet the needs of the wider tertiary sector that falls under Medr’s new regulatory framework.

Producing accurate and appropriate financial assurance reporting materials (such as dashboards and formal reports) that are both strategic and pragmatic - clearly articulating the risks posed to providers and how these will be managed.

About your team

The Financial Assurance team sits within the Regulation Directorate which is responsible for the regulatory oversight of all tertiary education providers in Wales.

Your team is responsible for regulatory work in relation to the financial management and financial sustainability of the tertiary education sector, helping to manage financial risks and protect learners and public funds.

Given the cross-cutting nature of financial sustainability of the sector, the team work closely with other areas of the regulation team, with other Medr teams, and with external stakeholders.

About your line manager

Diane Rowland, Head of Financial Assurance.

Diane has worked in financial sustainability of the tertiary education for over 8 years, having previously worked in the Higher Education Funding Council for Wales. Her background is in external audit, covering a wide range of sectors, but with a specialism in the charities sector. She works between home and Medr’s Cardiff headquarters. Outside work, she enjoys doing sport and music and spending time with family and friends.

What you'll bring

Attributes

• Reflective – You critically assess your decisions and actions, seeking to learn from both successes and failures.
• Humility - You listen to diverse perspectives and incorporate feedback into decision-making.
• Agile - You drive forward improvements, through collaboration, embracing new technologies and nurturing a culture of continuous learning.
• Act with integrity – You consistently act in the best interest of the organisation and its stakeholders and take responsibility for your decisions

Experience

• Strong financial background - covering both financial analysis (including reviews of financial statistics and forecasts and identification of key risks) and financial reporting (including understanding of technical accounting frameworks and ability to apply that to template modelling). Understanding of not-for-profit sectors is helpful but not essential.
• Upwards management - experience of dealing with / reporting financial matters to senior management and/ or a governing body.

Welsh Language requirements

We have evaluated that the Welsh language requirements for this post are:

Desirable

Welsh desirable means that while having Welsh language skills is useful for the role, it is not an assessment criterion, so it won’t disadvantage you during recruitment if you don’t currently possess these skills.

Your Perks and Benefits

We recognise the importance of looking after ourselves in work and in life, so in recognition of this we provide:

• 34 days annual leave a year (pro rata)
• An environment that embraces work life balance.
• A culture that celebrates diversity and welcomes everyone.
• Dedicated well-being time to all our people each week.
• A Cycle to Work Scheme to make owning a bicycle more affordable.
• Lifestyle savings scheme and discounts on everyday essentials.

Additional Support when you need it

We know that sometimes you may face challenges or life events that mean you need additional support.

• We provide a comprehensive employee assistance programme with remote access to resources and in person support whenever required.
• We have a special leave policy ensuring everyone in the organisation receives the support they need during difficult times.

More than just a workplace

• You will be entitled to take 5 days paid leave per year to undertake voluntary work to support the communities we serve.
• We will encourage you to grow your networks across Wales, the UK and internationally.
• We have an active social committee who offer a range of activities for our people to come together outside the work setting. You can participate as much or as little as you want.

Personal and professional development

• Once you’re offered a post, we will get to know you and work with you to develop a personalised onboarding plan which considers your experience, skills, learning style and knowledge.
• We’ll help you shape your development plans with personalised career conversations and objectives, taking account of delivery goals alongside your career aspirations and helping you own your career.
• We support all our staff to learn or improve their Welsh language skills.

Job contact :

• Name : People and Culture Team
• Email : swyddi@medr.cymru

Recruitment team

• Email : swyddi@medr.cymru

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