Innovate UK has the following secondment opportunity available for employees of Innovate UK Business Connect:
Applications must be submitted by
09-07-2025
Project Finance Lead Accountant
Project Finance & Assurance is a team of management accountants who are all responsible for checking and approving the financial viability and eligibility of successful grant applicants. Each member has a strong background in management accounts who can scrutinise sets of accounts and liaise with applicants and stakeholders to ensure that they are legitimate and eligible to receive public funding. This is a key part of the application process and must be conducted in a timely manner so that participants can start their innovation projects at the required time.
*Please note this advert will close on the 8th July 2025 at 23.59pm
Watch our video "Why Join Innovate UK?" here
Title: Project Finance Lead Accountant
Band: UKRI Band D (UKRI Ts & Cs)
Salary: £36,650 gross per annum + 10% Responsibility Allowance
Reports to: Project Finance Manager
Location: Swindon (Hybrid Working)
Contract: Permanent
Innovate UK recognises the importance of work-life balance and we will be happy to discuss any requests for flexible working arrangements.
Context:
The role holder will operate within the Innovate UK Funding Assurance Team, which is part of Operations Directorate.
Project Finance & Assurance is a team of management accountants who are all responsible for checking and approving the financial viability and eligibility of successful grant applicants. Each member has a strong background in management accounts who can scrutinise sets of accounts and liaise with applicants and stakeholders to ensure that they are legitimate and eligible to receive public funding. This is a key part of the application process and must be conducted in a timely manner so that participants can start their innovation projects at the required time.
Frequently working to deadlines, management accountants must understand Subsidy Regime, State Aid rules and use these to check eligibility of project participants. This may involve discussions and options with those organisations who do not meet the financial viability necessary to be eligible. Experience in commercial accounting good practice is essential as is a strong investigative and inquisitive nature. The team must balance the need to adhere to policy and accounting standards, transparency requirements in accordance with managing the public purse, along with the need to provide a high level of customer service to project participants.
The role holder is responsible for managing complex competitions and will be expected to provide guidance and assistance and training to junior team members along with assisting the team managers in resolving any technical issues that arise with the team and their financial reviews.
Job Purpose:
This role will be working closely with their peers and managers across the pre-award space. Reporting to the Project Finance Manager, you will be responsible for managing and delivering project financial reviews, approvals and reporting on high profile and challenging Innovate UK competitions, (including other interventions and Managed Programmes) where discussions with Senior Internal Stakeholders will be key to the design of the Competition.
The financial reviews consist of several parts for each project participant:
* Subsidy Regime and State Aid eligibility checks including meeting the relevant requirements of the General Block Exemption Regulation and TCA (Subsidy Regime) ensuring Innovate UK meets the general responsibility of public authorities under Managing Public Money.
* The financial viability of the organisation must be checked and validated to ensure that the grant request is legitimate and that the organisation has the necessary financial resources to support the delivery of the project while maintaining business as usual activities.
* The project cost eligibility review ensures that the organisation's project costs, provided as part of the application, are eligible for State Aid or Subsidy Regime. This requires you to have a level of understanding of the day-to-day activities of a well-run business. You may be required to contact the project participant to ask for further information or evidence on how costs have been calculated to ensure compliance and transparency. The role holder will be expected to take the lead and support in any discussions with applicant companies.
Key Responsibilities and Accountabilities:
* Strong stakeholder management to liaise with high level positions/roles within applicant organisations and work with them to understand any implications with the eligibility and viability checks. It is expected, you will take the lead on conversations with key stakeholders in large companies and research organisations.
* Strong stakeholder management skills to liaise with the CFIS Team and attend applicant audit and assurance visits.
* Deliver the financial review of project information in a fast-paced change environment including:
o Comprehensive review and analysis of participant Management Accounts and financial statements to ensure compliance with Innovate UK, State Aid and Subsidy Regime requirements.
o Lead and manage highly sensitive/high profile competitions, liaising with senior level internal and external stakeholders updating them on progress.
o Financial eligibility review of detailed project information in application to establish compliance with policy, guidance, State Aid and Subsidy Regime.
o Liaison with applicants to resolve issues identified by financial review, including timely documentation as supporting evidence.
o Ability to educate other Operational Teams on accounting policies regarding projects.
o Work with other team members and wider Operational teams to integrate the results of participant project financial reviews with other requirements and processes.
o During the life of a project support, give advice on project changes and issues escalated by the Operations and Technology teams.
o Contribute to and deliver process improvements as part of ensuring an efficient, effective financial review process, whilst working with other teams to ensure optimum end to end processes for Innovate UK and our customers.
* Autonomy to manage workload and handle conflicting priorities in order to meet strict deadlines.
* Provide ongoing guidance and mentoring to new team members, as necessary.
* Be capable of building and presenting the escalation for any situation requiring a more senior level consideration and sign off.
* Support other ad-hoc business requirements, as necessary.
This is not an exhaustive list and you might be encouraged to undertake any other duties across the wider directorate, commensurate with the Band and level of responsibility of this post, for which the post holder has the key experience and/or training.
Shortlisting criteria
(S) - Assessed at shortlisting
(I) - Assessed at interview
(S&I) - Assessed at both shortlisting and interview
Person Specification:
Experience & Qualifications:
Essential -
* Educated to degree-level or equivalent experience. (S)
* Hold a professional accounting qualification e.g. AAT, PQE, CIMA or CIPFA as a minimum. (S)
* Proven Management Accountant experience in a commercial environment. (S&I)
* Experience and understanding of working with business accounts, Management accounting processes and policies. (S&I)
* Ability to liaise with stakeholders at a Director and/or CFO level, with a confident and articulate approach. (I)
* Financial management and analytical review experience e.g. as a Tax Advisor or Auditor with focus on quality and attention to detail balanced with cost-effectiveness. (S&I)
* Proven experience of managing workloads to meet tight deadlines, with the ability to prioritise using own initiative. (I)
* Excellent interpersonal skills in dealing with a range of stakeholders at all levels. (I)
Desirable -
* Interest/background/experience in innovation or research, business competitiveness and technology policy or delivery. (I)
* Understanding of structure of government and key Innovate UK partner organisations such as the Research Councils and Devolved Administrations. (I)
* An understanding of Subsidy Regime Control, State Aid Rules (SAR) and the General Block Exemption Regulations (GEBR), Anti Money-laundering rules and the Proceeds of Crime Act and other relevant legislation. (I)
Skills:
* Demonstrable analytical skills and attention to detail. (S&I)
* Proven team working capabilities. (S&I)
* Strong presentation skills and an engaging manner. (I)
* Exceptional communication (both written and oral) skills, the ability or produce clear, concise and accurate presentations and written documents. (S&I)
* IT literate, including managing data and maintaining audit trails and data integrity. (S&I)
* A resilient approach and developed negotiation skills. (S&I)
* Ability to manage often conflicting demands of multiple stakeholders whilst protecting the integrity and ownership of the documented processes. (I)
* The ability to respond calmly under pressure and to make impartial and well-considered judgments in complex situations as and when required. (I)
* Solution focused, with the ability to thrive in an agile / changing environment. (S&I)
* Able to quickly assimilate and apply new information. (S&I)
* Be upbeat and positive in nature. (I)
Competencies:
All team members demonstrate compatibility with and capability against our Core Competencies such as:
Thinking and Problem Solving - Stakeholder management - Communication skills - Influencing - Self-awareness/self-management - Strategic awareness - Working with others- Project management
Some of the above competencies will be assessed at interview stage, in addition to the criteria's listed in the person specification.
Travel Requirements:
Swindon-based: There may be the occasional requirement for national travel.
Equality, Diversity and Inclusion:
Innovate UK is a diverse workforce of people. We believe that encouraging these differences and drawing the best from them will build a productive environment in which everyone feels valued, where talents are fully utilised and in which organisational goals are met. Underpinning this is a belief that it is a fundamental right for everyone to be treated equally, with fairness, respect and dignity. We will act directly and use our influence to ensure that this right is promoted and upheld; we encourage applications from all those who meet the criteria set-out in our role profiles.
Equal Opportunities:
We are an equal opportunities employer, committed to employing any person who meets the criteria for our roles. When undertaking recruitment we may require applicants to undertake certain tests or assessments, some of which will be online and others may be in-person. If you have a disability, heath condition or specific learning difficulty such as dyslexia then you may be entitled to support with undertaking this type of assessment exercise. Where you feel that reasonable adjustments are required to support you, we ask that you advise your recruitment point of contact in a timely fashion, providing further information. In confidence, Innovate UK will then review your application for adjustments and provide support as required.
UK Research and Innovation:
Innovate UK is partner organisation within UK Research and Innovation. If successful in securing the position, your employer will be UK Research and Innovation. More information can be found online http://www.ukri.org/.
Employee Benefits:
We offer a benefits package crafted to provide an excellent work/life balance. This includes 30 days' annual leave, 10.5 public and privilege days, flexible working hours, an exceptional defined benefit pension scheme, and access to a variety of support networks and discount schemes.
Benefits of working at UK Research and Innovation (UKRI)
Flexible Working:
We understand the importance of work-life balance, and are happy to discuss the possibility of flexible working with applicants.
Pre-employment Screening:
To enable us to hire the very best people we will conduct a comprehensive pre-employment check on successful applicants as part of the recruitment process.
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.
UKRI supports research in areas that include animal health, agriculture and food security, and bioscience for health which includes research on animals, genetic modification and stem cell research. Whilst you may not have direct involvement in this type of research, you should consider how this aligns with your personal values or beliefs. To enable us to hire the very best people we will conduct a full and comprehensive pre-employment check as a crucial part of the recruitment process on all individuals that are offered a position with UKRI. This will include a security check and an extreme organisations affiliation check.
Applications must be submitted by;
09-07-2025
* Highly competitive salary and flexible benefits
* Highly competitive salary and flexible benefits
* Highly competitive salary and flexible benefits
* Highly competitive salary and flexible benefits
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