Chief Financial Officer – ID 56

Position:                           Chief Financial Officer – ID 56
Duration:                          Permanent
Hours:                                Full time
Department:                 Finance
Reports to:                     Chief Executive Officer
Location:                         North London

Background
A large-scale film studio and growing technology-enabled cluster of supporting businesses and educational institutions. 
In light of current expansion plans a full-time CFO is required.

Job Description
The person selected for this role will be responsible for the financial controls and reporting as well as the budgeting and financial planning activities of the company, and will support the CEO and other senior management as appropriate.
The remainder of the finance team consists of a full time Financial Controller and full time Assistant Management Accountant. 
There is a large real estate component to studio operations, which will become more pronounced as the studio pursues its strategy of expansion (through leasehold expansion and freehold acquisition).  Accordingly, the successful candidate must have strong real estate expertise, preferably from an operational business that has a large real estate component.
The successful candidate will have a “hands-on” approach to the business and financial modelling required to manage the business effectively.  The successful candidate will also provide specific financial analyses to support both operational and commercial strategic decisions as well as defining and monitoring the key measures to evaluate and implement those strategies.

The CFO will take primary responsibility for board interactions and board pack preparation and will be expected to present financial information at board meetings and have the experience and confidence to discuss financial matters at board level.
The CFO will also be expected to take an active role in fundraise discussions with potential investors and strategic property partners.  They will be supported in this regard by staff from the company.
Given the operational nature of the business, the role will be based full-time in North West London.

Skills, qualifications and experience
We are seeking a CFO with the following skills and qualifications:
•             Proven experience as a CFO
•             Appropriate technical accounting qualifications (e.g. ACA)
•             Expert with financial models
•             Strong real estate expertise, preferably from an operational business that has a large real estate component.
•             Commercial focus:
o             Ability to understand the business behind the numbers and provide valuable business insights
o             Ability to identify key commercial issues and opportunities and develop concrete actions plans
o             Ability to drive data-based decisions, especially in relation to new investments/expansions
o             Ability to direct key commercial decisions, e.g. in relation to pricing of large productions
•             Ability to represent the Studios externally and form long-term partnerships with relevant organisations and individuals
•             Ability to interpret and communicate financial information clearly to individuals at different levels in the organisation (i.e. from board members to junior members of staff)
•             Strong communication and interpersonal skills; an ability to work collaboratively with colleagues at all levels in the organisation
•             Experience managing others and running a department
•             Strong prioritisation and time management skills, maximising personal and team effectiveness
•             Extensive experience using financial accounting packages
•             Extensive experience in finance and accounting, including preparation of annual financial statements and the implementation of financial controls
•             Some experience from the film industry or the creative/media industry would be advantageous

Duties and responsibilities
Team management and development
•             Manage, coach and develop an engaged and high performing finance team with behaviours consistent with the Studios’ values

Financial systems and reporting
•             Assessment and improvement (where necessary) of financial processes and systems, including:
o             Completeness and accuracy of billing, including the billing for Virtual Production services and recoveries (e.g. electricity)
o             Appropriate financial controls and reporting systems to deal with the cash flow and revenue recognition issues resulting from having large up-front payments from clients and productions
o             Timely business rate relief applications
•             Preparation of timely and accurate monthly and annual financial information to management, the board and debt providers.
•             Leading monthly management meetings to review financial performance and ensure that all members of the executive team are aware of YTD performance and cost overruns etc.
•             Oversight of the financial tracking of large capital projects, i.e. agreeing budgets and tracking budget vs actual and risk of cost overruns etc.
•             Oversight of the compilation of monthly reports of financial performance and key performance indicators (KPIs) for management reports and board reports including commentary to accompany the analysis.  This will include:
o             Price/Volume analysis to show the impact of achieved rental rate and utilisation on business performance.
o             Profitability by activity/building
•             Primary responsibility for the preparation of quarterly board packs (including the collation of information from other members of the management team)
•             Active engagement with external parties and management in order to reduce business rates, including negotiations with the valuations office and ensuring systems are in place to maximise business rates relief.
•             Oversight of other activities managed by the team, e.g.:
o             Tax and regulatory areas including VAT
o             Payroll processes
o             Annual audit process
•             Responsibility to ensure adequate insurance is in place (this will be in conjunction with the head of legal)
                               
Cash flow management
•             Oversight of cash flow management (short, medium and long term perspectives).  Detailed work on this is performed by the Financial Controller.
•             Support investment decisions in light of cash dynamics and resultant cash constraints
•             Ensure appropriate controls and reporting systems are in place to deal with the cash flow issues resulting from having large up-front payments from clients and productions.
               
Budgeting & Latest Estimate Analysis
•             Take ownership of the annual budgeting process
•             Take ownership of the current budgeting and latest estimate financial model
•             Update the budget outlook monthly to take account of actuals and business developments in year in order to prepare an updated Latest Estimate for management and the board (at least quarterly)

•             Develop a thorough understanding of the business and the key drivers of financial performance, and be able to explain clearly (verbally / graphically / in writing) the key factors driving changes in the budget and financial plan

Financial forecasts and long term financial planning
•             Develop a longer term operating budget model (to support discussions with investors and longer term investment decisions).  Note that there is a pre-existing model but it is no longer fit for purpose.  This workstream would be performed in conjunction with wider company.
•             Collaborate with the investors and executive team to regularly review and update the data assumptions underlying the forecast model.

Fundraising & Financing Activities
•             Support the CEO and others as appropriate in relation to fundraising and bank financing processes. 
•             Prepare relevant reports, development models, financial forecasts and ad-hoc supporting analysis as required.

Audit & Risk Committee
•             Take a lead role as a member of the audit and risk committee and oversee preparation of supporting materials and agree agenda items etc. in advance with the chair of the committee.