Financial Sustainability Consultants
Salary or salary range: 63386 - 66415
Contract type: Fixed contract - 12 months
Location of position: Bristol or London
Application deadline: 28 July 2024
Travel to HE provider locations will be a necessary part of the role, although will be variable depending on business need.
£63,386 - £66,415 pro rata + generous defined benefit Civil Service Pension and London Weighting of £3,566 where appropriate.
About Us
The OfS is the statutory regulator for higher education in England. Its aim is to ensure that every student, whatever their background, has a fulfilling experience of higher education that enriches their lives and careers. It does so by regulating the higher education providers on its register to make sure they are delivering high quality courses and positive outcomes for their students; where they are not, it takes action.
About the role
We are seeking Financial Sustainability Consultants to join our Regulation Directorate. This role is critical in protecting student interests through rigorous financial monitoring of higher education (HE) providers. The ideal candidate will be a qualified accountant who is experienced operating at a senior level, with a strong background in financial management, auditing, and an understanding of the higher education sector.
As a member of senior staff, you will lead the organisation to develop, implement and deliver its strategy and business plan. You must therefore be, and be seen to be, credible champions for the OfS’s approach to regulation and role models in this respect for staff and with external stakeholders.
Key Responsibilities:
Financial Monitoring and Risk Management:
Conduct detailed reviews of financial data and modelling outputs for HE providers with greater financial sustainability risks.
Engage with senior management at HE providers, including Finance Directors and Accountable Officers, to discuss financial risk management
Through engagement with providers on a risk basis, ensure the OfS has up-to-date knowledge of providers’ finances, contingency plans, and capacity to adapt to financial risks.
Provide expert, evidence-based advice on the financial management of providers.
Review and challenge providers’ stress testing, scenario planning, and financial risk management plans.
Make formal recommendations to OfS to support and improve our regulation of provider financial sustainability and monitor improvement plans .
Management and Governance:
Evaluate the management and governance systems at providers to maintain financial viability and sustainability.
Ensure providers have sufficient skills and robust management/data systems to secure financial sustainability for the benefit of students.
Make and monitor recommendations to OfS to improve our regulation of financial management at providers.
Market Exit Casework:
Provide expert financial advice on market exit risks at providers where relevant.
Monitor and scrutinise financial plans at providers facing higher market exit risks, making appropriate recommendations.
Support modelling of financial implications of market exit options for individual cases.
Engage with stakeholders, including government, funders, lenders, auditors, and advisors, as necessary.
General duties:
Stay informed on the latest trends in financial sustainability.
Share knowledge and experience with colleagues across the OfS, integrating financial investigatory work into other regulatory risk assessments.
Feedback data and intelligence into OfS sector analysis and modelling.
Support the OfS’ understanding of the sector’s capacity to absorb financial risk.
Report outcomes through OfS management and the Provider Risk Committee (PRC).
Essential Experience, Skills, and Knowledge:
Qualified Accountant (essential).
Extensive experience in financial management and audit/financial interrogation.
Proven experience of engaging with senior management.
Excellent written and verbal communication skills.
Strong relationship management abilities.
Desirable Experience, Skills, and Knowledge:
Good understanding of the higher education sector and its finances.
Experience in corporate governance, regulation, project management.
Working for us
The OfS regulates the higher education sector on behalf of all students. We value diversity and the wealth of perspectives, experience and ideas that it brings to our work, and we strive to embed equality of opportunity in everything we do.
We recruit based on fair and open competition and welcome applications from candidates regardless of age, disability, race and ethnicity, gender reassignment, marriage and civil partnership, pregnancy and maternity, religion or belief, sex, sexual orientation and socio-economic background.
Flexibility is important to the OfS, as we recognise that it can enable people to work more effectively. A set of organisation-wide principles shape our approach to flexible and hybrid working, which our teams then use as guidance on how they deliver their business goals. This would usually mean working from the office for two or three days in a typical week.
To attract the widest possible field of qualified applicants, flexible working, for example job share and part time working, apply to this role.
Closing date for applications: 28 July 2024
Interviews: From 12 August 2024