Job title: Chief Finance Officer
Responsible to: Chief Executive
Responsible for: As per organisational chart
Salary: Salary in the region of £225,000
Location: Portsmouth
Purpose
As a member of the Executive team to make a significant and pro-active personal contribution to the business, ensuring that it is well positioned and has the capability to achieve its current and future objectives, plans and targets.
Specific responsibility for the overall direction and leadership of a customer focused, high quality and professional Finance team, ensuring a collaborative approach with colleagues across the business to maximise outcomes and achieve value for money.
To lead a high performing governance function that provides assurance that the board exercises effective controls and schemes of delegations.
Key Areas
Strategic and Corporate Leadership
Description
- Develop a financial strategy, which is agreed with the Board and Executive, which plans and directs our resources in a cost effective and efficient manner to achieve our corporate plan ambitions.
- Positioned to anticipate and respond to the changing external environment, government and evolving internal priorities.
- Identify, evaluate and deliver business opportunities in accordance with our strategies and contribute to wider business objectives as part of the Executive team.
- Be an ambassador creating a positive image and represent the association with key stakeholders and staff.
- Informed of new developments within the sector and ensuring that we are provided with timely guidance and are able to make informed decisions.
- Be a key part of leading a culture of risk assessment, management and control throughout the association at a strategic and operational level.
- Have effective relationships with our internal and external auditors, our funders and any other relevant stakeholders and advisors.
Performance standards are satisfactory when
- We have a financial strategy that supports and reflects our ambitions within the corporate plan, with defined measures of success which are being routinely met.
- A proactive and anticipated response to major changes affecting the business.
- Business growth as defined by growth in both homes and/or services that impact positively on the business and our customers.
- We are identified as a partner of choice by key stakeholders and as a go to business across the sector.
- We are aware of developments that are appropriate to our circumstances and plans for the future. Well informed and briefed.
- Our relationships with funders, auditors and regulators are supportive and proactive.
Financial Management
Description
- Responsible for the preparation of annual financial statements and their audit, ensuring they are completed according to timetable and audit/accounting standards.
- Maintain and develop effective and efficient accounting and financial control systems ensuring probity in all financial affairs.
- Ensure that value for money considerations drive our decision making and are embedded as part of continuous improvement and the development of high quality services.
- Ensure that all services provided meet regulatory, legal, audit and best practice standards.
Performance standards are satisfactory when
- Financial statements are completed on time with no material audit adjustments being required.
- Control systems are in place, understood and effective.
- We are known for our value for money services and having a very low operating cost per unit.
- Regulatory and other standards are met.
Financial Planning
Description
- An active business plan and business planning process which helps support our need for long term financing and meets our corporate plan ambitions.
- Direct the preparation of our annual budget process which empowers employees to understand their spending and resource needs and delivers budgetary responsibility locally.
- Ensure that regular management accounting and decision support information is available across the association and helps support our decision making in an insightful way.
- Our investment decisions and strategic partnerships are supported by sound financial information that improves our understanding of the financial risks and returns.
Performance standards are satisfactory when
- Our business plan and scenario testing are in place and agreed at Board level satisfying our regulators and funders requirements.
- Annual budget is agreed and sets out investment plans for the year ahead within the framework set by the business plan.
- Budget holders understand their spend levels and have regular information that supports the execution of their plans.
- Appraisals of our investment decisions are robust and realistic with appropriate financial assumptions.
Corporate Treasury
Description
- Ensure the operation of effective treasury management systems to achieve full compliance with lenders covenants, best use of cash and investments.
- Manage negotiations with funders when new capital is needed advising the Board on the appropriate placement of such requirement.
- Ensure our security requirements are understood, planned for and implemented in a timely and effective manner.
Performance standards are satisfactory when
- Lenders covenants are complied with.
- A positive position is maintained in terms of capital and cash requirements.
- Surplus cash is invested in a way that balances risk and return.
- We raise new capital at market leading rates from a widely accessible pool of potential sources.
- Our covenant requirements are set at a level that allows us maximum opportunity to leverage our business potential. Our security portfolio is well managed.
Governance
Description
- Organisation of secretarial and governance arrangements, ensuring that they are conducted in accordance with legal requirements and the associations constitution.
- Be a central contact for regulatory requirements and co-ordinate dissemination of regulatory information and best practice provided by and required for the regulator and/or other associated organisations.
- Responsibility for maintaining documented standing orders, regular reviews of standing orders, and submitting material amendments for Board and Executive approval.
Performance standards are satisfactory when
- Our governance arrangements reflect best practise and provide a robust accountability framework.
- The Board is empowered and capable of providing robust governance.
- Our response to regulation is both appropriate and proportionate.
- Our responsibilities under regulation are clearly communicated and understood.
- Our internal controls are sufficient to provide assurances required.
People Leadership
Description
- Engender a high level of customer focus within all staff across the business.
- Ensure that the various functions are resourced by people with the right skills, competencies, culture and motivated to perform highly as a team and individually.
- Clearly lead change with open communication and by involvement/consultation with those affected.
Performance standards are satisfactory when
- Staff believe that we have exceptional leadership which they are happy to follow.
- High expectations on performance are communicated and managed effectively resulting in a high performing culture.
- Innovation and change is driven from the grass roots up and staff are empowered to re-engineer processes where required to improve service delivery and cost effectiveness.
Risk and Control
Description
- Ensure that a culture of risk identification, management and control exists throughout the Directorate.
- Financial regulations exist that provide an appropriate control environment and are clearly understood across the association.
- An independent internal audit programme is targeted to ensure that we understand and respond to any weaknesses in our control systems.
- Establish and implement appropriate policies, procedures and controls to deliver strategic objectives.
Performance standards are satisfactory when
- Key risks are identified and appropriately managed or mitigated.
- Appropriate control environment exists and is understood.
- A culture of risk management exists across the directorate and is embedded in general activities.
- Our internal audit process supports a culture of continuous improvement and offers assurance on underlying key controls.
Diversity
Description
- Ensure adherence to the associations duties in relation to Equality and Diversity.
Performance standards are satisfactory when
- The policy is measured and monitored.
Health and Safety
Description
- Ensure the highest standards of health and safety are maintained in all areas.
We Offer
- Bonus – up to 10%
- Holidays – 30 days
- Defined contribution pension scheme with 2 employee and 6 employer contribution
- Private medical and health check
- Discount portal to save money on various products and services, including holidays, shopping and cinema
- Countless professional development opportunities including qualification funding support
- Electric car scheme
- A real sense of work/life balance where we promote smart working and an agile culture
- Buy and sell annual leave
- Enhanced paternity/maternity leave
More details on our generous benefits package to reward our staff’s hard work and commitment can be found here.
Performance standards are satisfactory when
- A policy and effective strategy are in place and performance is measured and monitored.