JOB DESCRIPTION

1.Job title:FinancialController

Reporting to:CEO

Line Managing:Administration and Programme Support Officer

Regular liaison:Scholarships Programme Manager, Middle East Programmes Officer, Shared Values Project Manager, Trustees (Investment and Audit Committees), Said Business School Finance Director

2.Job purpose

a)Ensure that the financial and accounting policies, systems, procedures and reporting of the Said Foundation (SF) and Said Business School Foundation (SBSF) comply withregulatory requirements and meet best practice standards in the charitable sector

b)Account for the expenditure and income of SF and of SBSF reporting regularly to the CEO and the respective Audit Committees.

c)Monitor the performanceof property and financial investments in liaison with professional advisors, reportingregularly to the CEO and the Investment Committee,and implement decisions authorised.

d)Manage the administration of the Foundation’s offices at Queen Anne’s Gate efficiently and supervise the occupancy of other entities sharing use of the premises.

e)Oversee the financial management of the Foundation’s programmes to ensure that practices (especially budgets and payments) are conducted by staff efficiently, accurately and in line withlimits and policies approved by trustees.

f)Deputise for the CEO and assist/be responsible for other duties as requested.

g)Arrange the audit and submit the annual accountsof the Said Foundation for Development.

3.Specific responsibilities

a)Ensure that the financial and accounting policies, systems, procedures and reporting of the Said Foundation (SF) and Said Business School Foundation (SBSF) comply with regulatory requirements and meet best practice standards in the charitable sector

  1. Ensure that the financial systems, policies and procedures in place for SF and SBSF enable both Foundations to operate with full financial efficiency, transparency and accountability.
  1. Support the Audit Committees of both Foundations and the SF Investment Committee by arranging meetings, preparing agendas, drafting, commissioning and compiling papers and minute taking of meetings, and contributing papers for meetings of the Boards of Trustees as required.
  1. Keep up to date on statutory and other regulatory requirements, accounting standards and best practice in the charitable sector and advise the CEO and trustees accordingly.
  1. Act as the point of contact with the Foundations’ bankers; monitor the bank accounts and the banking support provided; complete and submit applications for new bank accounts as advised by the respective Audit Committees.
  1. Maintain a close working relationship with and monitor the performance of the Foundations’ auditors.
  1. Prepare and submit returns to HMRC, the Charity Commission, Companies House and other entities as required in liaison with CEO

b)Account for the expenditure and income of SF and of SBSF reporting regularly to the CEO and the respective Audit Committees.

  1. Provide financial information that enables oversight, risk management and decision making by the CEO and trustees of both Foundations, including monthly management accounts (for internal review with CEO) and quarterly accounts plusan accompanying narrative report (for circulation to the Audit Committees).
  1. Assist the CEO in the development and monitoring of annual budgets, including by revising the drawdown calculation from the portfolios and the schedule showing the inflation adjusted value of the SF’s original portfolios on a quarterly basis (or as required).
  1. Book all items of income and expenditure on the Foundation’s accounting system (Sage) in accordance with agreed codes and maintain all ledgers and books of account.
  1. Produce monthly summaries of the cash positionof both Foundations and quarterly cash flow projections (or as often as requested) for all charitable and administrative expenditure, advising CEO on drawdown requirements and implementing them once authorised by the Investment Committee.
  1. Manage the budgets for expenditure incurred in relation to the administration and management of the Foundations, and for the occupancy of Queen Anne’s Gate, and ensure that costs are recharged as appropriate.
  1. Process all payments relating to staff payroll and other remuneration with the authorisation of the CEO including salary, expense claims, national insurance, PAYE, pension, PHI, staff travel loans and any other entitlements, liaising with providers as required.
  1. Monitor the funding decisions of SBSF’s Grants Committee and ensure that financial commitments are recorded and maintained accurately on the SDF commitments schedule, and ensure that those records and funding requirements reconcile with those of the Said Business School through regular liaison with the School’s Finance Director.
  1. Co-ordinate the annual audit of SF and SBSF accounts, provide all necessary supporting information required by the auditors, produce draft annual financial statements and help the CEO to prepare the trustees’ reportsfor approval by the Audit Committees and recommendation to the Boards.
  1. Prepare and submit the VAT return and arrange transfer to HMRC of VAT payable.
  1. Ensure that petty cash floats are managed efficiently, that all payments are supported by documentation, that the floats are reconciled quarterly and that a record of reconciliations is maintained.
  1. Commission biannualproperty surveys of the Said Business School buildings.

c)Monitor the performance of property and financial investments in liaison with professional advisors, reporting regularly to the CEO and the Investment Committee, and implement decisions authorised.

  1. Maintain regular liaison with property asset managers to ensure that the CEO and Investment Committeeare up to date with developments, that property rental income is received on the expected due dates and that any mortgage loan provider receives requisite reports to deadlines agreed.
  1. Monitor the performance of the financial investment portfolio in the monthly report of Capital Generation Partners and ensure that the CEO and Investment Committee are kept up to date with current values.
  1. Implement the Investment Committee’s recommendations regarding redistribution of the portfolio.
  1. Assist the Investment Committee with the review of the Statement of Investment Policies and Objectives annually and inform professional advisors of any changes.
  1. Obtain an informal valuation of SF’s property assets annually and a formal valuation every three years.

d)Manage the administration of the Foundation’s offices at Queen Anne’s Gate efficiently and supervise the occupancy of other entities sharing use of the premises.

  1. Liaise with the landlord’s representative, suppliers and other occupants of the property to ensure smooth, efficient, safe and secure access to and working conditions within the property in accordance with leases and other agreements.
  1. Ensure that the employment contracts, terms and conditions, working environment and practices of the Foundation meet the requirements of Employment legislation, Health and Safety, Data Protection and other requirements.
  1. Line manage the Administration and Programme Support Officer to ensure that the Foundation’s own staff are well equipped and provided for with IT, telecommunication and the full range of other office resources required and functioning effectively.
  1. Submit rates returns to Westminster City Council that reflect the Foundation’s charitable use of the property and ensure due payments are made.

e)Oversee the financial management of the Foundation’s programmes to ensure that practices (especially budgets and payments) are conducted by staff efficiently, accurately and in line with limits and policies approved by trustees.

  1. Monitor the programme budgets and financial records of the Foundation’s officers and the grant agreements, financial reporting and payment instalments of partners, to ensure best practice and compliance with policies agreed by trustees.
  1. Provide advice and support to staff and project partners as required.
  1. Ensure that all payments made by staff members are processed correctly, with satisfactory supporting documentation and that files are maintained and kept up to date recording all payments made.

f)Deputise for the CEO and assist/be responsible for other duties as requested.

  1. As other senior managers be prepared to deputise for the CEO and to represent the Foundation at internal or external occasions and events, and to undertake any other duties as may from time to time be required, to help achieve the Foundation’s objectives.

g)Arrange the audit and submit the annual accounts of the Said Foundation for Development.

  1. Arrange the audit and submit the annual accounts of the Said Foundation for Development, ensuring SFD’s compliance with local registration requirements, in liaison with local auditors and SFD trustees as required.

24.06.16