Director of Finance

Your new company

My client runs a prestigious Opera Festival which takes place in June and July each year on a beautiful country estate. The Finance Director holds a crucial position within the dynamic senior staff team of six. Involved in shaping financial strategy at a critical period of change for this fast growing charitable organisation, having expanded from three productions to four, with an income from annual operations of over £6M p. the charity has begun a £14M capital project to build its own 'Arts Hub'. An interest in the Arts and knowledge of the charitable sector would be advantageous.

Your new role

Reporting to, and working closely with, the Executive Director, and ultimately to the Board of Trustees, the FD will be accountable for the financial and operational sustainability and efficiency of the company using Sage 50 accounts software, and budget planning in Excel. During the opera festival some attendance on site will be required, which will include weekends and evenings.

Financial Accounting Duties
The FD is responsible for all financial transactions within the company and it's associated subsidiaries, ensuring compliance with financial policies, and for setting and managing the central budget.

Management Accounting Duties

Responsible for:

• Setting all aspects of the Central Budget in liaison with the Senior Management Team.
• Preparation of Actual vs Budget Reports for the budget holders to enable expenditure to be managed and forecasts to be made.
• Preparation of the latest forecasts for the Board of Trustees, and production of Management Accounts.
• Initiation of financial models to inform Executive decisions and Board strategic planning.
• Ensuring the coding structure in Sage correctly records the expenditure for each department.
• Preparation of detailed expenditure reports at the end of the Season.
• Production of medium term budgets / cash flow planning and treasury planning
• Initiation and production of ad-hoc reports to facilitate the growth of the Company
• Keep the fixed asset register
• Manage funds between COIF, bank accounts and investments as appropriate
• Theatre Tax Relief claim
• Working with Box Office to ensure gift aid claims are submitted appropriately and accurately

The FD will be expected to oversee/carry out the following:

• Ticket and membership income reconciliation.
• Regular provision of information on cash position and forecast statements.
• Foreign payments.
• VAT returns (partial exemption)
• Maintenance of two subsidiary companies, intercompany transactions, and preparation of accounts to trial balance.
• Treasury function, ensuring reserves are placed with best interest rates operating within the Company's reserves policy, under the guidance of the Board and to liaise with our chosen Investment Company.
• Management of cash position, to minimise bank costs and using the most effective methods of foreign exchange.
• Management of Bank Mandate and compliance.
• Provision of information to the Company's auditors for the preparation of the statutory accounts and audit, corporation tax computations, and Theatre Tax Relief claim.
• Charities Commission, Companies House and HMRC compliance
• Management and supervision of the Finance Manager and Bookkeeper as necessary to ensure effective running of the finance department.

Seasonal Accounting Duties
As the annual opera festival is in the summer, the workload is cyclical and varies according to the time of year, with greatest intensity between the months of May to August, at our Year End in October, and around the preparation of Accounts in Dec-Feb.

During the opera season duties include:

• Working closely with finance team to ensure the complex Payment Schedule of 300+ opera personnel is in order, and keep track of cash flow forecast.
• Recording of sales, income reconciliation, and compliance with cash receipt/till report policies.
• Provision of sales information on GO Shop and Green Room Café.
• Provision of regular reports on actual spend vs budgets, and forecasts for all departments.
• Oversee cash and provision of floats and banking.
• Other tasks which might reasonably be required.

Arts Hub Capital Project

Construction of a £14M 'Arts Hub' (rehearsal and production rooms) commenced in July 2021 with an anticipated completion date of Spring 2023. The Finance Director will be responsible for:

• Monitoring cash flow during the project liaising with the Project Manager and QS
• Modelling future income and expenditure from the project
• Ensuring appropriate company structure is managed to mitigate tax costs relating to future income streams

What you'll need to succeed

• A CIMA/ACCA/ACA qualification
• Excellent working knowledge of Sage Accounts Software
• Excellent Microsoft Excel skills including financial modelling techniques
• Knowledge of VAT and Gift Aid returns, ideally with knowledge of Cultural Exemption
• Excellent organisational skills, with ability to manage and prioritise department's workload.
• Good communication skills
• A keen eye for detail

What you'll get in return

A very attractive salary package.
Flexible working options available.
Own transport essential.

What you need to do now
If you're interested in this role, click 'apply now' to forward an up-to-date copy of your CV, or call us now.
If this job isn't quite right for you but you are looking for a new position, please contact us for a confidential discussion on your career.

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