Updating Results

Australian Office of Financial Management (AOFM)

  • < 100 employees

2022 AOFM Graduate Program

Canberra

Opportunity Expired

AOFM graduates will have the unique opportunity to work in sovereign debt management and at the interface between government and financial markets.

Opportunity details

Opportunity Type
Graduate Job

Application dates

Applications Close
28 Jun 2021

Minimum requirements

Minimum Prior Qualification
Bachelor
Accepting International Applications
No
Qualifications Accepted
B
Accounting
Commerce
Finance
Actuarial Studies
Economics
L
Justice & Law Enforcement
Law
Legal Studies

Working rights

Citizen

    Read more

    The Australian Office of Financial Management (AOFM) is small specialised agency that plays a significant role in the Australian financial markets. AOFM manages a portfolio of Australian Government Securities of more than $830 billion and two investment funds totalling $17 billion. AOFM ensures that the government's expenditure obligations are able to be met at all times and that budget financing needs are delivered cost-effectively without undue risk. The AOFM operates within global financial markets in order to effectively achieve AOFM's financing and portfolio management responsibilities.

    AOFM is looking to engage one or more graduates to start in early 2022. Graduates work with senior staff and gain experience in wholesale financial markets involving aspects of risk, portfolio management, reporting, and sovereign debt management. Work at this level involves executing transactions, conducting research and undertaking projects on financial and debt management issues.

    The AOFM is a small agency where your contribution will be valued and rewarded. The AOFM provides generous assistance for work-related study and professional development.

     

    Qualifications

    Degree qualification in accounting, finance, business, economics, applied mathematics, commerce or a related discipline from a recognised tertiary institution. Postgraduate qualifications would be highly regarded.

     

    Experience

    Experience in developing or using spreadsheets, databases or other financial management tools is desirable.

     

    Role Overview

    The AOFM is committed to excellence in sovereign financial management and recruitment of high-quality graduates is necessary to support this commitment. Graduate recruits support the ongoing renewal of the AOFM. Whilst working in the AOFM business, graduates will participate in an eighteen-month tailored development program that will include on-the-job and structured training along with networking opportunities. Formal performance assessment each six months provides opportunities for pay progression. Graduates will integrate into AOFM business at the end of the development program.

    The successful applicant(s) will work in one of the following groups. Some suggested fields of study are shown in square brackets after each group description but the lists are not exhaustive:

    • Enterprise Risk and Assurance (ERA)
      • The ERA unit sets the AOFM’s governance frameworks for risk, assurance (including audit and compliance), fraud and business resiliency. The team works as a strategic business partner assisting business units and governance committees to proactively manage risks, obligations and the internal control environment. Team members require good relationship management skills, an understanding of better practice risk and assurance principles, and sound judgement in the application of these concepts to AOFM’s business model. [e.g. commerce, business, law]
    • Finance
      • This unit is responsible for financial reporting, internal and external budget maintenance and taxation compliance. The team comprises qualified accounting professionals required to deal with a range of interesting, and at times complex, issues of finance and reporting specific to the public sector and the finance industry. [e.g. accounting, commerce]
    • Funding and Liquidity (F&L) 
      • F&L is responsible for executing AOFM’s bond issuance programs and undertaking (daily) cash management on behalf of the government. This is an outward (financial market) facing role that requires clear communication and attention to detail under tight timeframes. Liaising with the traders who bid for bonds in tenders and monitoring fixed income markets are large parts of the role.  Cash management requires liaising with government departments and agencies including the Australian Tax Office and the Reserve Bank of Australia to reconcile and regularly update government cash (revenue and expenditure) forecasts. [e.g. finance, commerce]
    • Global Markets and Business Strategy (GMBS)
      • The GMBS unit administers two funds on behalf of the government, which are used to invest in securitisation products - the Australian Business Securitisation Fund (ABSF) and the Structured Finance Support Fund (SFSF). Securitisation is one way that lenders are able to finance loans to households and businesses, often at a lower cost than other types of financing. GMBS also delivers specialist advice to other government agencies related to a wide range of financing challenges, including debt structure and pricing. Roles in this unit rely on extensive experience in market operations, debt management and government policy. [e.g. finance, economics, law]
    • Investor Relations (IR)
      • The IR unit is the main point of contact for AOFM with investors in Australian Government Securities (AGS). It maintains ongoing engagement with banks that act as intermediaries in the AGS market, together with investors within Australia and across the world. This is a liaison focused role requiring good relationship management skills, a sound understanding of the Australian economy and the AGS market, particularly in the context of the global financial market. It also requires the ability to conduct market research and analysis, and effectively communicate qualitative and quantitative insights to internal and external audiences. [e.g. economics, finance]
    • Portfolio Strategy and Research (PSR)
      • ​​​​​PSR is responsible for monitoring and advising on medium-term to long-term strategic debt management issues, as well as the broad strategy within which the Government’s debt and cash portfolios should be managed. Setting debt and cash (liquidity) strategies involves detailed analysis of the operating environment for financial markets, including interest rates and monetary policy, macroeconomic factors, and investor demand. An ongoing research program considers a range of relevant financial markets issues. The work in the unit requires strong quantitative skills and the ability to draw practical conclusions from analysis. [e.g. economics, applied maths, finance, actuarial studies]
    • Reporting and IT (R&IT)
      • R&IT maintains the AOFM’s treasury management system and associated SQL database. The team is responsible for the official record of the AOFM’s transactions and prepares estimates of public debt interest in future years for the Government Budget. This team is detail oriented and technically skilled, and works with other teams across the office for the continual improvement of our database infrastructure. This team is also a good fit for those interested in developing skills in and implementing solutions using new technology. [e.g. data analytics, finance]
    • Settlements 
      • The Settlements unit facilitates the post trade operations of the AOFM’s AGS and investment portfolios. The team has a technical focus on fixed income and securitised products and expertise working with a variety of industry systems. The role requires strong communication skills and attention to detail under tight delivery timeframes. Team members foster relationships across a broad spectrum of stakeholders including within the agency, across industry settlements teams, the RBA, the registrar, the ASX and the general public. Strong relationship management skills and a focus on risk management are a good complement to technical and numeracy skills required for this role. [e.g. accounting, commerce]

    Graduates may determine their work priorities subject to guidance by their manager and monitor workflow in their areas of responsibility.

    Key Activities

    Graduates perform tasks relevant to the assigned work group. Tasks will vary depending on work group but may include:

    • execution of financial transactions for debt and investment management
    • working with a data warehouse including systems testing, report design and production
    • preparation of research or policy papers involving the evaluation of technical information for presentation to senior executives
    • producing financial statements and reports
    • assessing financial and operational risk
    • review of portfolio performance
    • work system improvements

     

    This position is based in Canberra. We will pay relocation costs for successful candidates.

    For more information, contact Tim Reddan (Senior Advisor – People) for a confidential discussion on (02) 6263 1177.

    Work rights

    The opportunity is available to applicants in any of the following categories.

    country
    eligibility

    Citizen

    Citizen