Schemes
Finance
On the Finance Fast Stream, you'll make your mark on some of the most important economic and financial issues facing the country
- Duration
- 4 years
- Salary
- £31,186
- Location
- UK-wide
About
Strong financial management and placing finance at the heart of senior decision making is vitally important in the Civil Service. As a Finance fast streamer, you will work in some of the most fascinating, high-profile environments in government and will be part of a 10,000-strong Government Finance Function community based all over the country.
You'll help shape the government's financial policy and make sure that public services are delivered effectively and efficiently, whilst also gaining a professional accountancy qualification to equip you with the knowledge and skills for a career in government finance.
Requirements
- Eligible to work in the UK
- You need, or expect to have a 2:1 or higher in any degree subject including degree apprenticeships
- Existing civil servants can apply without a degree
What will you experience?
You'll work across job families in the Finance Career Framework, gaining practical experience to complement the knowledge you will be building through studying for you professional qualification. You'll have the opportunity to engage with senior stakeholders both inside and outside of government from day one. You'll build relationships and help to put finance at the heart of the decision-making process.Delivering value for money, strengthening public trust.
In order to complete the scheme, you must successfully complete your professional accounting qualification which involves passing up to 16 exams and logging the required experience.
Qualification, promotion and successful completion of the scheme will see you earn around £45k to £55k.
Your progression through the programme
There are up to 5 placements in total
You'll complete three 1-year placements across different departments where you will enjoy a variety of experience across the Finance Career Framework to equip you with a broad range of technical skills. You will become part of the Government Finance Function, gaining access to a community of finance professionals and useful training and resources.
Make the most of opportunities to do high-profile work where you can, including cross-government projects.
Throughout your placements, you'll also be making progress in your accountancy qualification both through studying for exams and practical work experience. You will need to manage your time effectively, juggle multiple priorities and study in your own time in order to be successful.
You will be expected to have completed your accountancy qualification by the end of Year 3 on the programme.
In your final year, you will either spend 6 months on a secondment working in finance outside of central government, and 6 months in another finance posting, or complete another 1-year finance posting.
After 2 years, and a successful assessment, Fast Streamers will receive a salary uplift to £32,000.
Supporting your learning
You'll get support to become a Civil Service finance professional, including:
- Access to Government Finance Function and Government Finance Academy training, events, and resources
- Cross-government projects to gain a broad range of technical skills
- A buddy to help you prepare to join the Fast Stream, and to settle you into the department
- A qualified and trained mentor and cohort leader
- Membership of the Finance Fast Stream Forum, a network of fellow Finance Fast Streamers
- A professional accountancy qualification
- A cohort undertaking the same qualification as you to provide support and peer learning opportunities
- Opportunity to meet members of the professional bodies, including their current students and recently qualified accountants
- Free registration and annual membership with the professional body and tuition provided.
- Paid for learning materials, tuition, exams and any exemption fees, plus study leave.
Salary
Up to £55k
- Starting Salary - £31,186
- Capability assessed salary increases throughout the scheme
- Towards the end of Year 4, you will complete your End of Scheme Assessment. If successful, you will be promoted off the scheme, either into a role you have identified or into a priority permanent role allocated by the scheme. In your role on graduation from the scheme, you could earn between £45k and £55k
What benefits will you enjoy?
You'll have a unique chance to work on issues that really matter. It's a great foundation for long-term progression in the Government Finance Function and to set you up for success as a future finance leader.
Other benefits include the Civil Service pension scheme, professional qualifications, flexible working, season ticket loans, sports and social activities, child care assistance and more.
Learning and Development on the Finance Scheme
Alongside the scheme-specific learning offer, you will complete the universal training which provides core foundation skills and leadership & management skills.
Application process
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Online assessments
The online assessments consist of Work Style Questionnaires, a multimedia Situational Judgement Questionnaire, Numerical Test and Work Based Scenarios.
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Assessment centre
If you pass the online assessments, you'll be invited to undertake a half day assessment centre. This will be conducted virtually on line. The Fast Stream Assessment Centre (FSAC) reflects some of the key elements of a Fast Stream role and will consist a leadership scenario, a team scenario and a written scenario. Information will be presented via an app that you will be able to access remotely.
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Final selection
If you are successful at the assessment centre, you'll be invited to take part in a final selection process. The specialist assessments will assess your broad capabilities and motivation to be part of the profession you've chosen. You'll be sent detailed guidance before the assessment to explain what is involved.
