Head of Finance

6 months ago

Potters Bar, United Kingdom Wenta Full time

Role: Head of Finance

Reporting to: Director of Finance

Direct Reports: Accounts Assistant

Key Relationships: SMT / Business Centres Teams / Budget Holders

Location: Optional; Stevenage or Wenta sites across Hertfordshire and North London.

(A minimum of three days per week at Watford, working with the DoF and other Heads)

Contract: Full Time, Permanent

Hours: Monday - Friday, 09:00 - 17:00, 35 hours per week (flexible 08:00 - 16:00, 10:00 - 18:00)

**Salary**: £50,000 - £60,000 and staff benefits

**Who are we and what do we do?**

Wenta is a not for profit, social enterprise that provides free, inclusive employability and self-employment skills and advice to local residents and businesses enterprises. Through our social enterprise, we aim to deliver the UK’s most successful, inclusive support and advice to people considering, starting, and growing their own business.

**Key Purpose of Role**

The purpose of this role is to support the delivery of the Wenta strategy by providing high quality financial information and support to Wenta’s SMT / line managers and DoF / CEO, creating a high performing organisation across our people and systems.

**Key Responsibilities**

Management Accounts Reporting
- Preparing monthly management accounts in a timely manner (drafts produced by working day two).
- Completing final management accounts reporting by working day four, including variance analysis and commentary.
- Own the variance analysis process. Follow up on communication internally with budget holders or with suppliers for invoice documentation.
- Review monthly income flash reports and communicate to centre teams on the performance of the business on a monthly basis.
- Improve the financial understanding of management information by internal stakeholders.
- Preparing forward looking forecasts on income and expenditure, using historical trend analysis and agreed assumptions used in the business modelling process.
- Issuing weekly and monthly aged debtor reports to Centre Teams, Head of Business Centres and DoF.

Financial Accounts Reporting
- Complete all monthly balance sheet reconciliations by working day four for presentation to DoF.
- Review group VAT returns on a monthly and quarterly basis, and ensure compliance with submissions.
- Prepare / assist in the completion of all quarterly reporting for internal and external stakeholders.
- Prepare cashflow forecasts and projections.
- Own the budget process from start to finish. Prepare all budgeting packs and reporting for internal stakeholders.

Staff / Direct Reports
- To ensure the retention, motivation and engagement of direct staff reports, including holding appraisals, 1-2-1 meetings and Continuing Professional Development discussions.
- Supervision of team member performing Purchase ledger and Sales Ledger Accounting process (covering absence as required) with the following tasks completed by this team member:

- _Reconciliation of all bank accounts in Sage on a weekly and monthly basis._
- _Reconciliation of billing system (currently Dynamics 365) to Sage accounting ledger, after each import (weekly and monthly)._
- _Setting up new Direct Debit mandate instructions from our clients, ready for us to collect payments from clients. Collect monthly Direct Debit receipts from clients, using the software in place. Reconciling the Direct Debit receipts and communicating exceptions to the Centre Teams in a timely manner._
- _Sending client statements of account out on a monthly basis and responding to Centres’ queries as they arise._
- _Processing of client deposit refunds, ensuring these are properly recorded in Sage and payments are reviewed and paid._
- _Coding and posting all suppliers' invoices to Sage. Ensuring invoices have been approved within the company guidelines, before making payment to suppliers._
- _Prepare weekly / monthly supplier payment runs for all suppliers, ensuring bank signatories' are available._
- _Responding to clients' and suppliers' queries as they arise._

Finance Systems and Processes
- Reviewing systems for processing expenses, purchase orders and invoices.
- Maintenance of the chart of accounts in accounting software (Sage 50).
- Review and where appropriate, identify weaknesses and opportunities for improvements in key financial processes.
- Support non-Finance staff, particularly centre managers in understanding Finance reports and systems, and work with them on improving cross-departmental processes.
- Contribute to the analysis and design work in support of the development of new systems, involving participation in multifunctional teams and project groups where necessary.

Business Partnering
- Acting as the primary contact point for Centre Managers, working with them and other budget holders to ensure that key process deadlines are met.
- Own the budget setting process for the business, including preparation and circulation of templates to budget holders.
- Promoting financial awareness and confidence among no

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