Deputy Financial Controller at Jagal Group

Reporting to: Financial Controller (Projects and Planning)

Personnel reporting directly to this position: Finance Manager (Projects and Planning)

Purpose/Role:
    To manage financial forecasting and the annual budget process

Key Aims and Objectives:
    Ensure the timely preparation, accuracy and integrity of cashflows, budgets and financial forecasts

Prime Responsibilities and Duties:
·         Cashflows:
·         Prepare weekly cashflows for a month-by-month cashflow projecting forward a minimum of twelve months and for a week-by-week cashflow projecting forward a period of three months;
·         Ensure the accuracy and integrity of all figures used in cashflow projections.
·         Quarterly Forecast:
·         Prepare a quarterly forecast for the full year in the format of the monthly management accounts;
·         Assist with commentary in the monthly management accounts for variances between actuals and the annual budget/quarterly forecast.
·         Annual Budget:
·         Prepare a draft annual budget for the company for the following year within corporate deadlines;
·         Liaise with budget holders to produce a budget for each department ensuring that full consideration is taken of current-year actuals, changes in the business, inter-related activities between departments, corporate objectives and any other relevant factors;
·         Provide full support to budget holders in the preparation of departmental budgets and ensure that information is accurate, well-presented and clearly justified;
·         Ensure that the budget is presented in a clear and transparent manner;
·         Ensure that the budget is consistent with the format of the monthly management accounts and the ERP software to enable clear comparison between budgeted and actual figures.
·         Assist the Financial Controller (Projects and Planning) with the following:
·         Drive the development process for KPIs for operations and across the company.
·         Management Accounts - Projects:
·         Prepare end-of-life project forecasts in conjunction with the Commercial Department and project teams;
·         Ensure the accuracy and integrity of figures reported in end-of-life forecasts;
·         Review key assumptions used in end-of-life forecasting; analyse and quantify key risks and judgements used in end-of-life forecasting;
·         Ensure that actuals reported for project revenue and costs in the monthly management accounts are accurate, and fully reconciled to and consistent with forecasts produced by the Commercial Department and project teams;
·         Ensure that progress billings and revenue recognized are fully reconciled to actual billings and total contract revenue in line with contract values reported by the Commercial Department;
·         Ensure that all entries relating to projects are accurate and correctly posted;
·         Ensure that end-of-life forecasts are revised for major changes arising on a monthly basis and that a full review is conducted on a quarterly basis;
·         Actively schedule and participate in monthly financial project review meetings;
·         Provide monthly performance analysis to budget for all projects to budget holders with commentary on variances;
·         Provide commentary in the monthly management accounts for variances between actual and budget and changes in end-of-life forecasts.
·         Management Accounts – Cost Allocation:
·         Develop systems for accurate re-allocation of costs to projects and service cost centres;
·         Ensure that cost allocations are accurately applied in the monthly management accounts;
·         Conduct regular reviews of the methodology used in cost allocations to ensure that it remains consistent with company objectives;
·         Ensure that the basis of cost allocations is transparent and is clearly communicated to budget holders.
·         Man-hour Costing:
·         Develop accurate man-hour rates to be used in actuals, forecasts, commercial tenders and for other requirements within the company;
·         Conduct a minimum quarterly review of man-hour rates to ensure that they are accurate and the methodology used is consistent with company objectives;
·         Ensure that the basis for man-hour rates is transparent and is clearly communicated to users.
·         Financial Information and Support:
·         Provide financial information relating to projects to support commercial activities within the business and other departments as required;
·         Provide full analysis and financial information for commercial bids to ensure accurate costing.
·         Annual external accounts audit:
·         Provide all schedules, information and explanations required relating to projects for the annual external accounts audit.
·         Assist the Financial Controller (Management Accounts) in the preparation of the monthly management accounts as required.
·         Project Accounts Staff:
·         Ensure that staff are properly trained and supervised to meet the requirements of their positions;
·         Assess performance on a regular basis to identify deficiencies, improve performance and develop staff;
·         Complete annual performance reviews for staff;
·         Ensure that the function is adequately but not over staffed;
·         Lead, motivate and provide direction to staff.
·         HSE:
·         Pro-actively support a strong safety culture within the company.

Other Duties:
    As assigned by the Financial Controller (Projects and Planning) and Financial Controller (Management Accounts)

Reports:
    Weekly Cashflow reports
    Quarterly Forecast
    Annual Budget

Key internal interfaces:
    Financial Controller (Management Accounts), Finance Manager (Management Accounts), Accounts personnel, Treasury personnel, Commercial personnel, Projects and Projects Control personnel

The Persons:
    Qualified accountant
    Minimum of five years’ experience working in the private sector
    Wide experience of working with ERP/Accounting software
    Experience of accounting in a complex environment within large industrial corporations
    Excellent computer skills, including strong Microsoft Excel modelling skills
    Strong communication and interpersonal skills
    Ability to process complex financial data and communicate in a clear, concise manner to non-financial personnel