Head of Financial Control (London)

Description

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, Gibraltarand 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. To find out more about our journey click here .

Your Next Challenge

The Moneycorp Core Finance team is looking to strengthen it 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 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 the 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 should 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

• Design, Operate and Refine control framework / processes
• Balance Sheet substantiation is completed on a timely basis

• Maintain a log of finance issues which require remediation and work with stakeholders to develop strategic solutions

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 the 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

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]]>