The Corporate Finance Department is responsible for the Financial Management of the organisation which includes management of the annual budget (£358M for 2023/24), publication of the organisation’s Statement of Accounts, payment of the salaries of over 6,000 police officers/staff and the payment of around 25,000 supplier invoices annually.
The department also formulate the organisation’s Medium Term Financial Strategy each year which determines the level of Precept (Police element of the Council Tax) payable by the public.
Alongside these the departments provide a Treasury Management function responsible for managing the organisation’s loans and investments that support the 4-year £90M Capital Programme which includes exciting new developments such as the Police Learning Centre and Collaborative Tri-Force Firearms Range.
If I worked in this department, what could my working day look like?
My morning was spent answering queries from the Wales Audit Office as our annual Statement of Accounts are being audited at the moment and there are lots of queries to answer from the auditors so that they can provide assurance that the Force has managed its finances effectively during the year.
I used the onsite gym lunchtime as I like to keep fit.
I conducted a Personal Development Review with a team member in the early part of the afternoon. They are training to be a qualified accountant for which the Force is sponsoring them under a training agreement.
The second half of the afternoon was taken up by a meeting with our tax advisors. My team completes the monthly VAT returns and there can sometimes be complex VAT issues around some of our larger Capital Expenditure projects. It is important to get the accounting treatment correct so we maximise our budgets.
I spent the morning working on the recent pay award that has been offered to colleagues. It is important that everyone’s salaries are updated to reflect this increase so they are paid correctly.
I ate lunch with my next-door neighbour as we are good friends and both work from home around 70% of the time. The Force is a flexible employer and many staff in Finance are able to WFH [work from home] but go into the office on specific days to link in with their colleagues.
In the early part of the afternoon we had our weekly team meeting using MS Teams/video conferencing. This is where we formulate the workplan for the week with our manager.
This week is the final few days for the payroll deadline so the work will be intense checking that all the expenses and overtime claims are accurate and that all the new starters and leavers for the month have been processed correctly.
The last part of the day was spent in a meeting with external suppliers who are helping us make some critical changes to the payroll software related to salary sacrifice schemes.
We are working on a big project at the moment called Pensions Remedy. It concerns correcting a mistake the UK Government made with some changes they made to the Police Pension Regulations in 2015.
I spent the morning checking a database to ensure fields such as length of service, salary history etc were correct prior to the database file being sent to our external pensions administrator.
I spent the early part of the afternoon helping out the payroll team. We all work together at the end of the month to ensure that critical deadlines are achieved.
Towards the end of the day I joined a meeting with the Assistant Director of Finance (ADoF) and the rest of the pension’s team. Since pensions have become really complex over the last 5 years we have a monthly catch up with the ADoF so that all pension’s related work is planned appropriately and that the financial consequences of the same are captured by the Force as part of its financial planning arrangements.
Not found what you are looking for? If you are interested in future opportunities within this department please register your details on our talent bank and we can update you when we have vacancies that suit your skills and preferences: click here to register.