Head of Finance
We are seeking an experienced and highly motivated Head of Finance to oversee the financial operations of an independent co-educational school. The Head of Finance will play a pivotal role in managing financial reporting, budgeting, fee collection, payroll, and expenditure, while also ensuring robust financial controls and risk management. The successful candidate will lead a small team, collaborate closely with senior leadership, and provide financial insights that support the school's long-term sustainability and growth.
Your missions
Leadership and Management:
• Team Leadership: Provide strong leadership to the Finance Team (5 direct reports, 1 indirect report), offering guidance and support.
• Financial Risk Management: Minimize financial risk for the College by implementing effective controls and policies.
• Stakeholder Engagement: Maintain robust communication with parents, staff, and external stakeholders about financial matters.
• Continuous Improvement: Foster a culture of ongoing improvement within the finance function, ensuring efficiency and best practices.
• Cash Management: Ensure effective cash management and payment processes are up to date and aligned with industry best practices.
Financial Management and Reporting:
• Annual Reporting: Assist the CFO in preparing the Group’s annual report and financial accounts.
• Budget and Forecast Management: Work closely with the Heads of the Senior and Junior Schools to manage budgets and monthly management accounts.
• External Auditor Liaison: Act as a point of contact for the external auditors and ensure they have the necessary information to carry out their duties.
• Quarterly Reporting: Provide quarterly financial information to the lending bank.
• Financial Controls: Ensure that robust financial controls are implemented and regularly followed.
• Cash Flow Management: Monitor cash flow and prepare monthly cash flow forecasts.
• VAT Compliance: Ensure VAT returns are accurate and submitted in a timely manner.
Finance and Payment Systems:
• Compliance with Regulations: Ensure compliance with Payment Services Regulations.
• System Development: Lead on the development and modification of financial systems as needed.
Fee Billing and Collection:
• Fee Billing: Oversee the fee billing process, ensuring accurate and timely invoicing of parents/carers.
• Debt Collection: Lead on the fee collection process and ensure that debts are followed up and managed effectively.
• Data Management: Ensure that data in the fee billing system is accurate, including details of fee payers and any remissions.
• Debt Reporting: Regularly report to the Heads of Schools and CFO on the status of fee debtors.
Expenditure Management:
• Expenditure Oversight: Ensure accurate and timely processing of all expenditure and that it is properly recorded.
• Fraud Prevention: Implement systems and procedures to protect against fraud and misuse of funds.
Payroll and Pensions:
• Payroll Oversight: Manage the payroll process across all Group entities, ensuring timely and accurate payroll reporting.
• Compliance with Legislation: Ensure compliance with HMRC and relevant payroll and pension regulations, including the Teacher Pension Scheme and the Independent Schools Pension Scheme.
• Pension Reporting: Oversee pension reporting to staff and relevant pension providers.
General Responsibilities:
• Child Safeguarding: Promote and safeguard the welfare of young children in line with the College's safeguarding policies.
• Other Duties: Undertake other duties as required by the CFO, Head, or Board of Governors.
• Professional Development: Stay informed about sector policies, regulations, and best practices through professional networks and other sources.
Your profile
Essential Skills & Experience:
• Strong financial management, reporting, and budgeting experience, ideally within an educational or non-profit setting.
• Proven leadership and people management skills.
• Expertise in financial systems, cash flow management, and financial controls.
• Understanding of payroll and pension regulations (including HMRC and pension schemes).
• Ability to engage with a wide range of stakeholders, including parents, auditors, and senior management.
• Experience with fee billing, debt collection, and income management.
• A proactive approach to process improvement and risk management.
• Excellent communication skills, both written and verbal.
Qualifications:
• A recognized financial qualification (ACA, ACCA, CIMA or equivalent) is typically required.
• Significant experience in a senior finance role, with a track record of leadership in a similar environment.