This Graduate Trainee Scheme is part of a strategy to grow potential future leaders for the Finance profession within the public sector. The scheme offers real development and career opportunities for high calibre Trainees who identify strongly with supporting the delivery of vital services to the public.

 

The Scheme was introduced in February 2004. It was set up by the Senior Finance Management Teams of the London Boroughs of Hackney and Islington and the Metropolitan Police Service, and supported by The Chartered Institute of Public Finance and Accountancy (CIPFA) - the premier accountancy body in the public sector. The Graduate Trainee Scheme is open to recent graduates (graduated within the last two years) with a 2:1 degree, 300 UCAS points (24 points using the old scale) and an A in Mathematics and a minimum C in English at GCSE level.

 

This unique Scheme sees Trainees involved in a series of challenging and diverse placements, both supporting day-to-day operations and taking a lead in projects. Trainees rotate among the organisations, on a six monthly basis, over a three-year period. They experience a broad range of financial specialisms, including audit and risk management, financial planning, corporate accountancy, management accountancy and financial systems. Whilst developing their skills and expertise through the placements, Trainees will be undertaking the CIPFA professional accountancy qualification. The purpose of the Scheme is thus to fast track Trainees’ work experience, and to provide them with wide-ranging financial experience and the necessary skills to become effective accountants and future leaders.

 

Other important features of the Scheme are:

• Each trainee has a professionally trained Mentor for the three-year period
• Trainees have access to the training and development opportunities in all three organisations
• Trainees have an external development budget
• During each placement, Trainees experience frontline operations in the organisation
• Placements include the shadowing of staff and Senior Finance Management
• Trainees play an active role in their own development
• Trainees may apply for permanent jobs in the three organisations.

In the future, the Scheme may be extended to include:

• Other Public Sector organisations (e.g. Districts Councils, Health Services, other London Boroughs and other GLA authorities)
• Private sector accountancy firms which service the public sector.