Head of Financial Reporting
- Recruiter
- Finatal
- Location
- London (Central), London (Greater)
- Salary
- £90,000 per annum
- Posted
- 12 Jun 2019
- Closes
- 19 Jun 2019
- Ref
- JI7968
- Job Title
- Head of Finance
- Category
- Banking and Financial Services
- Contract Type
- Permanent
- Hours
- Full Time
The Opportunity:
This is a newly created role working for a business which has continued to expand rapidly through organic growth and acquisitions. Two recent acquisitions have doubled the EBITDA and increased their presence in America and Asia. The business is highly profitable and cash generative and has a headcount of approximately 2,800. The owners and management team have the funding, ambition and determination to drive the business forward towards an eventual exit in around three years. Likely exit scenarios include an IPO.
The Role:
As the Head of Financial Reporting, you will be responsible for working across the company to ensure accuracy and efficiency in statutory reporting, helping in the preparation of the business for future sale. The company has a complex and constantly changing corporate structure due to its acquisitive nature and high levels of financial gearing. Acquisitions tend to include minority interests and put and call options further complicating the accounting particularly under IFRS. There will also be a need to review and improve current reporting processes. Drafting presentations (including for investors) will be part of the remit.
Main Duties and Responsibilities:
- Working with a small team, plan and execute the financial reporting cycle to provide high quality, timely financial reporting for the Group. This includes the preparation of the annual report and accounts, managing the inputs from overseas Finance teams to build the consolidation and owning the Group audit process.
- Preparation of UK local statutory accounts and liaising with local accounting teams globally to ensure correct and timely preparation of subsidiary accounts.
- Management of the compliance work in relation to the Senior Finance Arrangement including monitoring of forecasts, covenant reporting and compliance certification. Submission of notices of further drawdowns to fund future acquisitions.
- Development of reporting processes, controls and content to ensure accuracy, compliance, integrity and best practice as the business evolves (particularly in relation to acquisitions).
- Take the lead on technical issues, advising on the impact of new accounting requirements and the financial consequences of commercial decisions, resolving issues and problem solving where necessary.
- In relation to the M&A activity of the Group, assist in the acquisition process and financial due diligence on an ad hoc basis. Take responsibility for acquisition accounting including managing the fair value exercise and preparation of audit papers.
- Working with IT, FP&A and other functions, drive improvements in current systems to fully utilise functionality and reduce reliance on manual processes. Be a key player in the implementation of new reporting systems and tools to provide consistent, high quality data.
Key Requirements:
- Strong group consolidation skills
- Qualified accountant, gained at large accounting firm
- 6+ years of PQE
- Experience in M&A transactions, debt financing and reorganisations from a technical accounting perspective
- Strong network in accounting practice
- Experience of international companies with global footprint
- Private equity experience a plus