Location: Hybrid working (London EC4 & remote)
Reporting to: Chief Financial Officer
Contract: Full-time permanent, open to flexible working & job share options
Salary: £75,500 - £82,750 (depending on experience)
This is an exceptional opportunity to lead and manage Big Society Capital’s (BSC’s) high-performing Finance team and deliver a high standard of financial management and decision making to the wider organisation.
The role is a trusted business partner to the Executive Committee (ExCo) and Chief Financial Officer (CFO) on a range of strategic finance matters with extensive interface with BSC’s Board and Audit Committee, Bank Shareholders, Auditors and Treasury managers. The Head of Finance is a member of ExCo+ (BSC’s senior management team).
As the UK’s leading social impact investor, Big Society Capital’s role is uniting capital, expertise and ideas to create better lives. Working with expert partners, we seek to understand people’s needs first. Then, using our knowledge and capital, we collaborate and invest with fund managers who also want to create a better, sustainable future. As a wholesale social impact investor, we invest into fund managers who in turn provide capital to enterprises that can bring about social change.
We currently focus on three strategic themes where we believe social investment has a significant role to play in improving people’s lives in the UK; homes, place and early action.
Financial Planning and Strategy
- Working closely with teams across BSC, lead on financial planning processes, including preparation and monitoring of BSC’s long term financial p&l forecast, quarterly long term liquidity forecasting, investment returns and departmental spends. Provide strategic insights on these to Exco, Board and CFO.
- Support Exco and CFO in key strategic development initiatives
- Monitor and manage BSC’s liquidity and treasury performance effectively, including liaison with external Treasury Managers.
- Oversee sourcing, implementation and management of bank lending facilities
- Evaluation of potential additions to the Treasury portfolio (Impact Funds) and present recommendations to Exco/BSC Board.
- Provide guidance to the Investment and Legal teams on operational financial aspects of investment deals and other projects, including taxation issues.
Reporting and Valuations
- Ensure appropriate internal and external reporting and financial analysis to meet the organisation’s needs and in accordance with statutory requirements. Overall responsibility for smooth annual external audit process including planning and manage Auditor relationship.
- Preparation of material for Board and Audit Committee meetings and for meetings with Bank shareholders ensuring such material provides effective indicators of key portfolio and other financial performance indicators.
- Review and develop processes for the valuation and financial monitoring of BSC’s social and treasury investment portfolios. Lead the six monthly portfolio Valuation cycles in conjunction with the Senior Data and Portfolio Director. Review and challenge quarterly Valuation Committee papers prepared by portfolio owners.
- Develop a suite of investment performance reports to ensure good visibility of historic performance on an in- year, annual and life to date basis.
- Ensure accounting for returns generated by BSC’s social impact investments is undertaken in a consistent manner and in line with agreed policy
- Management and planning of BSC’s taxation obligations (principally Corporation tax and VAT)
Management of Finance Team
- Develop a strong and capable Finance team; ensure strong team cohesion in hybrid working environment and facilitate progression and development opportunities for the team
- Direct Reports: Senior Finance Manager x2; Senior Advisor – Financial Management; Management Accountant
Support BSC’s Client Investment team on finance-related aspects of BSC’s Client Investment activities (currently Schroder BSC Social Impact Trust plc, SBSI), including oversight/responsibility for:
- operational set up and ongoing liaison (accounting, banking, treasury, administrators)
- accounting and reporting of financial information to internal and external stakeholders
- portfolio risk assessment and stress testing
- liquidity forecasting
- year end audit of portfolio valuation
- liaison with key external stakeholders and attend SBSI Board, Audit Committee and Pricing Committee meetings as required.
Risk and Compliance
- Stay current with all applicable accounting, tax and regulatory standards, guidance and legislation.
- Develop and implement financial policy, systems and strong financial controls that reflect BSC’s current and future requirements.
- Support the CFO in the development of BSC’s financial and wider risk management processes. Engage with Exco and Audit Committee members on these issues.
- Lead outsourced programme of internal audit reviews, reporting back to Audit Committee on these.
- Risk Champion for the BSC Core team.
- Oversee delivery of the FCA RegData financial reporting (with the exception of Close Links).
- Maintain adequate controls to ensure the firm is not receiving Client Money or Client Assets.
- Oversight and development of BSC’s finance system requirements including data warehouse design and related process improvements to better manage data and reporting requirements.
- Undertake other project work to support the development of BSC and the finance function.
Skills and Experience
- Qualified accountant (ACA, ACCA, CIMA or CA) with strong track record of experience and contribution in senior financial management roles
- Financial Services and wider corporate experience (in particular Investment management, Private Assets, Fund Management/Accounting or Private Equity)
- Sound and up to date knowledge of UK GAAP
- Preparation of reports and analysis on the performance of the business
- Development of internal control procedures and frameworks
- Team leadership and management
- Social Investment experience
- FCA regulatory reporting
- Experience of supporting Risk Management programmes
- Knowledge of IPEV valuation guidelines
Skills, abilities and attributes
- Strong IT skills, particularly Excel and relevant knowledge of accounting IT systems
- Structured thinker who embraces complex data
- Solid verbal and written communication skills, including ability to influence others and prepare clear reports
- Ability to apply statutory principles, guidelines and legislation in practice
- Collegial team player – flexible and willing to work with and contribute to a team
- Superior judgment, discretion and utmost integrity
- Flexibility and willing to take on different tasks as required
- Commitment to supporting positive social impact in the UK
- Analytical with excellent attention to detail
- Exceptional planning and organisational skills
- Excellent interpersonal skills – builds solid relationships with key stakeholders at all levels, in an open and empathetic manner
- Supportive leader, committed to developing others
Please send your CV and Cover Letter to firstname.lastname@example.org
Big Society Capital is committed to being a diverse organisation that is truly representative of the communities we serve. We are an equal opportunities employer with an inclusive environment where all employees can contribute to their fullest potential. We want every colleague to be able to deliver their work with dignity, equality, comfort and independence. Our office is fully accessible with step-free access and an open-plan set up. We are open to accommodation requests regarding assistive technologies, accessibility tools, flexible working or any other reasonable adjustments that will make working or visiting here more accessible for you.
As a Disability Confident employer, we guarantee interview for all candidates with disabilities who meet the minimum criteria for the job. We are defining a disability in accordance with the Equality Act 2010, as a person who has a physical or mental impairment, and the impairment has a substantial and long-term adverse effect on their ability to carry out normal day-to-day activities. If you have a disability and require any support through the recruitment process, please let Sheena Pentin know at application stage.