Careers in public sector finance: roles, skills and qualifications

Working in finance and accountancy within the public sector offers a rewarding and secure career path, with opportunities across local government, the NHS, and not-for-profit organisations. 

In this blog, we will go through some of the questions we are regularly asked by finance candidates, and offer advice for achieving a successful career within the public sector.

Careers within the finance sector can vary considerably, with jobs both in the private and public sector. At Sellick Partnership, we have a wealth of experience placing finance graduates and highly skilled finance professionals into public sector organisations and are regularly asked about the career opportunities within the sector.

But before we get started, what is public sector finance? Public sector finance refers to the management of public money by organisations such as local councils, NHS trusts, housing associations, and central government bodies. These finance professionals play a key role in budgeting, financial reporting, audit, procurement, and strategic planning - all with the goal of maximising public value.

What is the best way a junior candidate or recent graduate can get a finance job within the public sector?

There are various ways a candidate can begin their finance or accountancy career within the public sector, ranging from apprenticeships straight through to university degrees. 

• Straight from school: as the finance jobs market becomes increasingly more competitive, more and more public sector organisations are choosing to recruit candidates straight from school, offering school leavers an early career opportunity within the sector. This is beneficial for two reasons: firstly, school leavers will generally demand a lower salary than an experienced candidate, and secondly, businesses can train these candidates as they see fit.
  
  This is a great opportunity for any candidates currently in school who may not be interested in further education. Opportunities like this are coming around fairly often, particularly within local authorities who are very keen due to the financial pressures they have with regards to recruitment, but also because the apprenticeship levy dictates that a certain number of apprentices must be employed in the finance function. The best way to find out about opportunities like this is to contact the Council directly (normally HR), or have a look at apprenticeship websites/job boards or the government website.
  
  
• From college: this is one of the more common routes for candidates that are looking to begin their career within finance and accountancy. Some colleges will offer candidates the opportunity to study for an entry-level finance qualification (such as AAT, Association of Accounting Technicians). These courses generally require candidates to learn on the job within a workplace via an apprenticeship.
  
  Candidates who decide to go to college can also choose to study A Levels or BTECs in finance  and accountancy, giving them an in-depth and thorough knowledge before entry-level roles. This is a relatively common occurrence on most entry-level candidate CVs, and candidates with qualifications like this are highly sought after.
  
  
• From university: there is no written rule to say candidates interested in a finance and accountancy career must attend college or university, but it will definitely add some value to a CV. Public sector employers are looking for candidates who are academic and can do the role advertised, so a decent degree in maths (or a related subject) will help.

How can a senior finance candidate secure a role within the public sector?

A senior candidate looking to secure a role in the public sector would need to put some real thought into a couple of things. First of all, the kind of organisation and individual sector they would like to go into (as each presents different challenges, be that financial pressures or the different kinds of stakeholders they would need to get involved with). Candidates also need to consider the size of the organisation they want to work for and the value they could add to ensure they choose the right workplace for them.

A well-written CV highlighting duties and responsibilities as well as key achievements will really make candidates stand out from the crowd. A well-written cover letter (if required) that is to the point is also beneficial and complements a candidate’s application. It is important that candidates explain why this role takes their interest, what value they could add and why previous achievements confirm this. It shows commitment to the recruiter or hiring manager reading the CV and proves that the applicant has applied for relevant roles and has not just sent their CV out randomly.

Senior candidates seeking a move into the public sector can find many opportunities to break in, more so now than ever. Plenty of organisations are seeing the benefit of bringing in a commercial mindset and approach to the finance function, particularly within housing associations and the not-for-profit sector, where the approach differs slightly from other public sector organisations.

Do finance candidates in the public sector have to be ACA, ACCA, CIPFA or CIMA qualified?

As with all career paths within finance and accountancy, the more senior the candidate, the greater the need for them to be qualified, and the public sector is no exception. There is currently a lack of highly skilled, qualified candidates in the public sector, which offers candidates who are committed and willing to take this route a great opportunity.

At the junior end, however, there are plenty of roles that candidates who are not qualified can thrive in, including Assistant Accountants, Finance Officer, Assistant Management/Financial Accountants, or general clerical roles. Good organisations also know it can be beneficial to ‘grow from within’, and we are finding a lot of development roles where organisations are offering candidates funding or study time towards exams, which often come with progression opportunities. 

How can finance candidates become qualified?

Candidates can qualify by studying with a relevant exam body (ACCA,ACA, CIMA for example) and then sitting a series of exams. It is a fairly lengthy and rigorous process to become a fully qualified accountant with several different levels which will have a number of exams, each of which can be expensive.

As aforementioned, public sector businesses are offering study packages as they know the benefits that come with ‘growing from within’. The idea is that the business can mould employees to their way of working, but by investing in the candidate it often means they have a greater degree of commitment and loyalty. This way also allows candidates to learn from highly experienced professionals, whilst studying: a win-win situation. The best way to find opportunities like this is to search for ‘assistant’ or ‘trainee’ roles. Candidates should also let recruiters work on their behalf, which can often speed up the process.

The most common qualifications within the sector are CIMA (Chartered Institute of Management Accountants), ACA (Association of Chartered Accountants) and ACCA (Association of Certified Chartered Accountants). A CIMA qualification will likely lead to a Management Accountant, Business Partner, Finance Manager role, ACA is likely to lead to an Auditing role, while ACCA has a couple of opportunities, including roles such as Management Accountant, Finance Manager, Financial or Business Analyst, Financial Consultant. 

Typical finance and accountancy roles within the public sector

Careers in finance are varied, and the job roles and titles within the public sector are largely the same as in other sectors across the profession. Generally, junior candidates will start out as an Accounts Assistant, Finance Assistant, Assistant Accountant or Junior Accountant, similar to the private sector. Within the public sector, however, candidates may be exposed to a wider remit and, of course, face different challenges and obstacles that may not present themselves in the private sector.

Within the public sector, candidates can aspire to levels such as a Management/Financial Accountant, Finance Business Partner, Finance Team Leader. These roles are definitely achievable with hard work and determination, but candidates need the drive to learn and soak up information from more experienced colleagues. There are always growing organisations or restructures that will present opportunities, so it is about making the most of them if and when possible.

Take a look at the public sector finance jobs we currently have available on our jobs page. 

What career progression is there in public sector finance? Is it suitable for an ambitious candidate looking to get to the top?

As in any industry, some organisations will be better than others when it comes to career progression, however, most organisations we work with offer great opportunities for candidates. For example, larger public sector organisations will generally have a set path for progression, and this will usually be discussed at interview, and candidates will be given all the resources they need to progress. This route may be a better choice for ambitious candidates looking to progress quickly.

For candidates working within smaller organisations, progression may not be as quick. However, a huge benefit to this is that candidates will be exposed to a wider remit and, perhaps most importantly, experience a more hands-on approach. This could involve focusing on training or simply working closely with an experienced colleague. It is rare to get this type of exposure with a senior professional within a large organisation, and this can often give candidates with SME experience the edge later in their career.

We have, however, experienced situations with some of SME candidates where the top role in their organisation is occupied, causing them to seek employment elsewhere. For that reason, SME businesses may be better suited to candidates who are happy working at a slightly slower pace. It is therefore essential that candidates hoping to secure a finance career within the public sector assess their progression options thoroughly.

Whatever the business size, most Finance & Accountancy professionals we recruit generally work their way up from junior levels within the same organisation and only choose to leave when they have reached the highest level available to them.

Work with a specialist public sector recruiter 

At Sellick Partnership, we’ve been supporting candidates across public sector finance for over 20 years. Whether you're looking for a new role or advice on the next step in your career, our experienced Consultants can help.

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If you’re unsure where to start or want personalised advice, get in touch with our team. We’re here to support your journey in public sector finance.