Finance Control Framework

Notice summary: In order to maintain robust financial control in a changing environment there is the need to design and deliver a new financial control framework for the Department for Business, Energy and Industrial Strategy (BEIS).

Description: A core requirement of the Finance Team is to maintain a robust financial control environment. The department have undergone a number of changes including, but not limited to, a new structure and a number of role and responsibility changes within each sub-team. The new structure is yet to be embedded fully and there is an urgent need to:

• Identify synergies and natural homes for specific pieces of work;

• Identify duplication and loopholes;

• Streamline processes;

• Document processes;

• Design controls;

• Document controls; and

• Embed controls.

The envisaged outputs from the work are:

• Report: Summarising “As-is” process and documenting future process including guidance on implementation and operation of the process by staff. This will include implementing opportunities for process optimisation, identifying and mitigating areas of potential risk / control gaps, controls with potential to rationalise and the source of assurance for controls operated;

• Process Flows: detailed process maps;

• Benchmark: Table highlighting specific gaps / improvement opportunities vs good practices.

• Risk and Control Framework: Slide decks detailing the risks, control objectives, control descriptions, control types and control assurances.