Financial Controller. Chartered institute. Westminster/Victoria. Full Time Permanent role.
Role . £60k to £65k Plus Benefits.
Our client who is a well established and internationally respected Chartered Institute in Financial services sector is seeking a new Financial Controller to lead their Finance function.
As this role has 4 direct reports, we are seeking people with natural leadership qualities and a flair for team management and motivation.
Reporting to the Chief Finance Officer (‘CFO’), the Financial Controller (‘FC’) leads and manages the Finance team and has operational responsibility for the statutory and management reporting for 2 business units.
The Finance team provides transactional and financial management services to both businesses, including supplier invoice processing and payment, customer collections and cash control and management. In addition, the FC looks after investments, pensions, payroll, insurances and oversees branch finances. The FC also provides finance services to the volunteer side of the organisation as well.
As a member of the wider leadership team, the FC works closely with senior colleagues from both sides of the business. Both use the Microsoft Navision accounting system.
Personal qualities are important to the success of the role, not least because the FC delivers common services to two organisations, which share a common staff of over 80 and over 100 unpaid volunteers, but which have two separate governing bodies. In addition, the FC will manage 4 permanent Finance staff. The FC will be a hands-on manager who will provide assured leadership to the Finance team, will be able to drive change, work well under pressure and enjoy the challenge of managing multiple engagements simultaneously.
Summary of duties and responsibilities
Supporting the CFO, the role has operational responsibility for maintaining the accounting records of both CIOT and ATT including the completion of the statutory audit, full regulatory compliance and the provision of timely and accurate management information to the Councils and senior management. This will include but is not limited to:
- Providing proactive management reporting and support services to both Councils, chief xecutives and senior staff
- Providing an effective financial management service to 2 business units
- Delivering timely and accurate monthly management reporting for both businesses
- Maintaining key financial controls and reconciliations
- Acting as an intermediary between management and Treasurers/Councils on financial matters
- Representing the organisations externally and promoting their interests and activities
- Deputising for the CFO as required
- Developing and deploying the organisations' policies and practices
- Agreeing Service Level Agreements with the Treasurers from at the start of the financial year
- Leading the Finance team through the statutory audit for both companies, preparing the annual Financial Statements and liaising with auditors
Specific duties and responsibilities
- Leading the delivery of the financial management service to both sides of the business
- Contributing to the budgeting and strategic planning
- Preparing the statutory accounts
- Ensuring regular liaison with the Chair of the Audit Committee as well as the Treasurers
- Supporting and contributing to the preparation of meeting papers for the Audit Committee, Finance & Operations Committee and Financial Steering Group
- Maintaining good working relationships with key stakeholders and third parties, including auditors, investment managers, bankers etc.
- Engaging with non-financial managers in the financial management of both organisations, coaching them in the potential financial implications of their decisions
- Providing advice on corporate financial management and legal issues
- Proactively managing the performance of the members of the Finance team
- Keeping up to date with changes and developments in the accounting, legal and regulatory environment relevant to both sides, identifying the implications and taking timely action where required
- Contributing to debate on new policy areas or where financial policies need updating
- Responsibility for the operation and maintenance of key controls over the accounting records, notably bank reconciliations and reconciliations between finance and membership systems
- Ensuring accurate and timely preparation of VAT returns and monthly and year-end reconciliations
- Ensuring that payroll is run properly and promptly
- Managing cash flows and investments
- In liaison with the Membership team, ensuring that debt collection is timely and effective
- Controlling and authorising supplier and expense payment runs
- Representing the organisation at events and conferences, when attending
- Qualified professional accountancy qualification (ICAEW, CIMA, ACCA, ICAS, CIPFA)
- Willing to assume a hands-on role whilst managing and developing the Finance team
- Experienced in managing auditor relationships and in preparing year end statutory accounts for a charity, with specific knowledge of prevailing charity and financial reporting standards.
- Experience of accounting within the charities sector and, preferably, also of professional membership organisations
- Able to contribute to the overall development of both organisations
- Able to drive change and process improvement
- Well-developed communication skills with the ability to explain financial principles and to engage with non-financial managers
- Experience in staff performance management
- Understands the need for a service mentality from the finance function in support of both organisations and their members
- Strong interpersonal skills to build effective working relationships with both internal and external stakeholders
- Ability to influence direct reports, colleagues and senior management to an appropriate point of view or course of action
- Up-to-date understanding of current financial and reporting requirements, particularly those relating to the charities sector
- Systems literate with strong Excel skills – experience of MS Navision is preferable but not essential. A new CRM has been implemented and the incumbent will be expected to identify and make full use of the process efficiencies available in the system