Head of Financial Control

Who We Are

Moneycorp is a thriving dynamic business with an excellent reputation helping Corporate and Private Clients with their FX and International Payments requirements for over 40 years. As a globally expanding business, our footprint covers UK & Ireland, Europe, USA, Canada, Hong Kong, UAE, Gibraltar and Brazil! With 600+ employees, Moneycorp prides itself in attracting some of the world’s top talent and the people who work at Moneycorp are truly behind its continued success. As Moneycorp continues to expand into new territories, there are considerable opportunities for growth for newcomers and the learning possibilities are endless. We welcome you to be part of a team which has a passion for the business, all within a collaborative and supportive working environment that has ultimately translated to a unique exciting business.

Your Next Challenge

The Moneycorp Core Finance team is looking to strengthen its systems, processes and team knowledge to ensure we keep up with the Group’s rapid growth. To help improve the Group’s financial control capability, the need for a Head of Financial Control has been identified. This senior role will report to the Group Finance Director and will provide support in:

• Managing a variety of stakeholders across the business including Front Office, Finance, Operations and IT
• Developing a first-class financial control function encompassing all aspects of controllership including reporting, controls and balance sheet substantiation
• Legal entity reporting for a rapidly growing International Group, including a strong understanding of international accounting standards and US GAAP
• Providing quality, accurate and timely analysis and information to management which encompasses the development, management and understanding of month end reporting and the control environment.
• Managing a timely monthly close and accurate cut-off and capture of all material expenses across the Group
• Supporting project work affecting the business including business development and finance transformation
• Assisting the FP&A team for management and Board reporting as required.
• Development and management of the accounting staff – both direct reports and sharing knowledge with the wider team.

The successful candidate will also become heavily involved in project work to automate current procedures, improve the control environment to accelerate the month end close, and will work with several senior people across all divisions of the Group.

Key Accountabilities

• Stakeholder Management
  • Engage with and manage a broad stakeholder group across the business including Front Office, Finance, Operations and IT
  • Ensure that priorities are agreed and clearly communicated to stakeholders.
• Month End Reporting
  • Accelerate the month end close process
  • Responsible for producing relevant balance sheet reconciliations as well as enhancing the timeliness of sign off process for all balance sheets accounts.
  • Ensure that the settlement process for Intercompany balances is maintained
  • Improve revenue fair value reporting
  • Manage all Group allocations of cash across the organisation and assist other financial control teams to ensure seamless reporting of the transfer pricing arrangements.
  • Enhance the production and reporting of MtM valuations of derivatives and CVA valuations
  • Working with Treasury to improve foreign currency sell-down process
  • Enhance revenue reporting and reporting of operational risk events and monitoring of bad and doubtful debts (ECL assessments)
  • Management of the core Front Office systems data flows to the general ledger to support improved automation and straight through processing
  • Ensure that all documentation for procedures is maintained
• Management Reporting
  • Responsible for the timely production of monthly divisional management accounts including analysis of variances and production of commentary
  • Responsible for the timely production of entity level income statements and balance sheets and implementing a review process to ensure trends and exceptions are captured and explained.
  • Liaison with the wider business to ensure that certain revenue, costs, assets and liabilities are correctly reported
  • Assisting Head of Treasury in identifying, explaining and reporting on working capital matters
  • Assisting in preparation of Group MI pack, Executive Team pack and Board reports
  • Provision of analysis and explanation to internal and external auditors
• Statutory Reporting
  • Responsible for the successful delivery of the audit of group companies
  • Production of relevant accounting policies and procedures disclosures
  • Responsibility for accounting for overseas branches and their local statutory audits
• Financial Control
  • Financial Accounting
    • Ensure that transactions / business activity is appropriately accounted for
    • Key driver in the monthly preparation of full income statement and balance sheets across all entities in the Moneycorp Group.
    • Support the annual audit and financial statement preparation process
  • Control Environment
    • Design, Operate and Refine control framework / processes
    • Balance Sheet substantiation is completed on a timely basis
    • Support the FP&A team in the preparation of reporting, and business insight as required
    • Continuous improvement
    • Maintain a log of finance issues which require remediation and work with stakeholders to develop strategic solutions
    • Continuously evaluate existing processes and make changes which enhance efficiency and control
  • Team Development
    • Recruiting where needed, develop and mentor the Financial Control Team
    • Manage and develop accounting trainees as well as qualified team members
    • Be open and share knowledge within both the accounting function and wider business
    • Maintain a friendly and open team attitude to encourage all other employees to approach the Finance team with queries or concerns to ensure the continual improvement of the business
    • Effective management of team
    • Pro-actively develop plans and priorities for team
    • Active performance management through objective setting, KPI tracking and appropriate feedback
    • Recruitment and retention strategies
    • Training
  • Project Work and Analysis
    • Provide insights and drive change that will accelerate the month end close and improve operational efficiencies
    • Identification and explanation of trends with particular focus on underlying drivers and impact on working capital
    • Provision of MI across certain business lines to help drive improved business performance
    • Identify and implement continual improvements to processes
    • Assisting in the automation of transactional and end balance reconciliations and the creation of workflows to support exception management
    • Assistance in group wide project work
  • Other Duties
    • Development and maintenance of strong internal controls
    • Assisting on ad-hoc analysis to Divisional Heads and other senior management
    • Ensure completion of any external reporting requirements such as Office of National Statistics (ONS) surveys on business performance
    • Ensure that all centralised activities are appropriately executed and controlled
    • Fully documented processes, outputs, timeframes, query response times to be documented within an SLA agreed between stakeholders
    • Undertake activities in accordance with SLA
    • Periodic review and updating of SLA to reflect changes
    • Evaluation of whether Central functions should be de-coupled when scale / magnitude of activity warrants
    • Ad hoc duties as required

  Person Specification

  • Knowledge and Experience:
    • Qualified Accountant ACA/ACCA with 10 years or more post qualified experience
    • Strong technical experience of international multi-currency consolidations under IFRS
    • Experience of working within financial services and regulated entities
    • Experience of end-to-end process flows and data quality management of FX, derivatives instruments or volume payments processes
    • Experience of international groups or working in an international role
    • SQL experience desirable
  • Skills and Competencies:
    • Outstanding interpersonal skills
    • Clear strong communications skills, both written and verbal
    • Demonstrable track record in improving management reporting processes and environment
    • Outstanding analytical abilities, with an enquiring mind
    • Robust, capable of clearly and strongly articulating position
    • Ability to build relationships with stakeholders at varying levels of seniority
    • Strong management and statutory accounting abilities developed ideally within a financial services/foreign exchange environment
    • Previous experience of developing and improving teams
    • Technically competent on accounting matters and Microsoft Office programs. Knowledge of SUN desirable.
  • Education:
    • Qualified Accountant
    • Big four experience – preferred but not essential
  • Personal Attributes:
    • Hard working, conscientious and trustworthy
    • Responsible - willing to take personal responsibility for delivery against deadlines
    • Excellent attention to detail
    • Flexible and adaptable approach
    • Willing to learn and keen to develop role
    • Team player
    • Professionalism
    • Works and portrays a professional manner both internally and externally
    • Understands the need for integrity at all times and confidentiality position demand
    • Delivering Results
    • Ability to work under pressure and meet set deadlines
    • Striving for excellence and always wanting to learn
    • Making a personal difference
    • Demonstrates a positive attitude at all times
    • Embraces change and constantly searches for improvements
    • Prepared to go the extra mile where necessary
    • Responds positively to feedback even where development areas are identified

  The successful candidate will be part of a dynamic team and work in a fast-paced environment, catering to a diverse mix of stakeholders with varying needs. Therefore, the ideal candidate should be a self-starter, as there is an opportunity to make an immediate and tangible contribution to the business.

  This is a full-time, permanent position based in our London Office with an opportunity to work hybrid within our Core Finance team.

  What you get in return: This role offers a competitive salary along with a benefits package including 25 days holiday plus a day off for your birthday, a pension scheme, BUPA private medical insurance, and more.

  We’re committed to creating a workplace where every individual feels valued, respected, and included. As an Equal Opportunity Employer, we actively cultivate an inclusive culture where diversity thrives, and we empower our colleagues to drive meaningful change within our organisation through initiatives like our DE&I focus groups and value champion network.

  Together, we want to build a workplace where everyone can bring their authentic selves to work, as we believe this is the foundation of innovation, creativity, and collective success.