Public Services overview
Public Services encompasses high-profile organisations in the public eye. A large proportion of work is found within the NHS (Hospital Trusts, Primary Care Trusts, Mental Health Care Trusts and Strategic Health Authorities) and larger local authorities (London boroughs and city councils).
Candidates are likely to have some exposure to central government departments and agencies, education and housing institutions and the larger charities or voluntary organisations.
Industry overview
The Big Four are well established as advisors to clients within the public and not-for-profit sectors, and are currently benefiting from considerable increases in business from this sector. This is the result of increased government spending and the requirement for greater governance and regulation.
The Big Four have positioned their specialist public services hub offices around Central London, Birmingham, Manchester, Leeds and the South West.
What can I do?
Most of the work involves handling the financial management of public services employers, to ensure that services are being provided as effectively as possible with the finite resources available. You will work towards balancing costs against income, rather than maximising profits.
Good opportunities currently exist for experienced individuals who are interested in specialising in the public services sector. Demand is spread across most disciplines, which can be broken down as follows:
- Audit and assurance (part-qualified, newly-qualified and management levels)
- Internal audit and risk management (newly-qualified and management levels)
- Sector specialists (specialist experience of a particular sector such as NHS, local government, charity, not-for-profit etc.)
- Private Finance Initiative (PFI) and structured finance advisors (manager and senior manager levels)
Katy Thomas, business manager with Hays Accountancy & Finance, outlines typical duties encountered, "In all these roles, candidates can expect to be liaise directly with clients and provide advice and assurance on statutory, regulatory and business issues, working within or leading a team. In the PFI and structured finance roles, candidates will be called upon for their technical knowledge and experience to provide consultancy and advice to clients."
Once management and senior management levels are reached, accountants are encouraged to take more of a proactive role in developing the service offered and generating new business for the team.
Have I got what it takes?
Audit and internal audit
Experience and skills required include:
- Technical knowledge and training gained with a larger firm of accountants
- Team-work and leadership skills
- Ability to quickly build, maintain and develop good relationships with clients
- Communication and report writing skills
Sector specialists and PFI specialist advisers
Experience and skills required include:
- Experience within a Big Four or large firm is desirable
- Transferable skills and experience gained within a public service organisation
- An interest in strengthening your experience through working with a variety of clients in your specialist area
Where next?
With the rapid expansion of many service groups, there are real opportunities for progression to senior management roles where you will have the flexibility to specialise in either an industry sector or a disciplinary specialism.
In addition to this, the government’s decision to cut jobs across the civil service may result in outsourcing of certain responsibilities to professional firms, providing the opportunity to gain even broader experience.
