Describe your sector in a nutshell
HM Treasury is responsible for the compilation, management and supervision of the accounts of the Government. It is also responsible for the safekeeping of public moneys, public property and for proper accounting.
There are many different sections which make up the Treasury Department:
Gibraltar Savings Bank – Encourages savings within the local community and offers investments in Ordinary Deposit Accounts, Debentures and Bond Accounts.
Payments – Processes all payments effected by Government to external suppliers and contractors and internal salaries & wages. They also process all revenue collected by the different Government Departments, Agencies and Authorities, and they manage and reconcile all Government’s bank accounts.
Currency – Deals with the issuing and redemptions of all Gibraltar currency notes and coins that are in circulation to Gibraltar banks and organisations. They also issue Gibraltar currency notes and commemorative coins to Collectors.
Lottery – They are responsible for all the Administrative work in connection with all the Gibraltar Government Lottery draws. They operate the Lottery Machine, record all numbers and prizes during the live draws and produce the official results sheets.
Accounts – Manages and controls all accounting transactions effected by Government Departments, Agencies and Authorities. They also prepare Departmental estimates and the Annual Accounts for the Government.
Investments – Process all accounting transactions effected by the Gibraltar Savings Bank. They prepare estimates, annual accounts and parliament questions for the Gibraltar Savings Bank. They also monitor Government of Gibraltar loans and prepare reports on the overall Government and Gibraltar Savings Bank financial position.
Payroll – Ensures that all employees within the Government of Gibraltar are paid. They also prepare occupational pensions for all retired Government employees.
Budget and Insurances – They monitor and control Government’s global insurances. They also prepare monthly control of expenditure reports.
Companies – Manage a portfolio of all the Government owned companies. They prepare computations, cashbooks and end of year financial statements.
Central Arrears Unit – Are responsible for the recovery of arrears within Government Departments. They liaise with individuals, businesses and companies to reduce their arrears, entering into agreements whenever necessary.
Treasury Department – May 2023
Accounting Standards – Deal with the administration of a number of contributory pension schemes and process the computation of payments due to those officers on the final salary pension scheme. They also oversee Government contracts in order to ensure compliance
Information Technology – The Treasury Information Systems Section within the Treasury and Gibraltar Savings Bank is responsible for all the Information and Communication technologies of the Department. The ‘ISS’ section designs and develops all of the Treasury Departments financial systems and manages and maintains all of the current systems in place. It is also responsible for all the Departments network infrastructure, internal software development, cybersecurity and physical security of the building.
What are the different career opportunities/jobs available in your sector?
There are currently 100 posts in the Treasury Department, so the career opportunities are various and vary between financial and administrative. Government also offers training programmes, through the Human Resources Department, and all employees are afforded the time to attend in order to enhance their professional and personal development.
What is interesting/fun about your sector/industry? Why should a young person want to work there?
Working at the Treasury is a rewarding, exciting and varied career that guides the direction and future of the Government’s financial strategy. Having a job within Treasury is an opportunity to work at the heart of the public service, providing valuable support to other Government Departments. It can offer you a wide variety of skills, which can have many benefits, including opportunities for career progression.
IT in general is a very rewarding career. The beauty of IT is that it is always evolving and changing. It is a fantastic career path for those who are eager to constantly train, improve and learn new skills, as it is an ever-changing industry demanding individuals to keep up to date and constantly learn new skills.
What is demand looking like in your sector? How do you think this will change in the future?
As the population of Gibraltar grows, so do the demands on administration staff, therefore, there will always be job opportunities in this sector.
The demands on the IT section grow by the day and as Government wants to embark on a digitalisation programme, the demand will always be there. As technology continues to improve, it creates more demand requiring unique training and specialisation.
What skills and qualities do you seek in a candidate joining your sector?
The best skills and qualities to work at Treasury would be the following:
Able to work under pressure
Ability to work with numeracy
Attention to detail
Enthusiastic
Open to variety and challenging situations
Treasury Department – May 2023
Good customer service skills
Ability to both work in a team and on your own initiative
What is the approximate salary range people can earn?
The salaries range from approximately £20,000 to £110,000, depending on the grade and responsibility.
What career pathways are available for a young person wanting to join your sector? (University and non-university routes)
The minimum entry as an Administrative Assistant is a minimum of 2 GCSE’s which is very achievable for a non-university applicant.
However, further qualifications will be required when you apply for promotion. These will include a minimum of 5 GCSE’s, including mathematics.
The Gibraltar College and University also offer courses in Accountancy such as AAT or ACCA.
Entry to the Treasury ISS is a minimum of 6 GCSE’s and an ICT related qualification, ICT experience or background.
Any advice to a young person wanting to join your sector?
Although not required, it would be desirable to have a degree in accountancy or finance, as this would eventually help your career prospects.
Should you wish to go for the IT section, gain experience in as many IT fields as possible, especially in the programming languages.
Treasury Department – May 2023
