Business Stream is one of the largest water retailers in the UK and a trusted supplier to over 340,000 businesses, ranging from corner shops to large industrial manufacturers. The company provides a range of services to business customers including billing, water and wastewater management solutions and water efficiency support.
In April 2017, Business Stream acquired the non-household customers of Southern Water doubling the size of their customer base overnight, followed by the acquisition of Yorkshire Water’s non-household customer base in October 2019. Business Stream is currently the second largest water retailer in the UK, supplying 20% of the non-household market, and remains the market leader in Scotland, almost fifteen years after the market opened despite tough competition.
Business Stream is undertaking a multi-million-pound transformation programme designed to transform their systems, processes and the way they work. This will include replacing ageing technology with a scalable, resilient, modern technology platform that will directly benefit customers, improving operational efficiency and reducing costs. It’s an ambitious programme but an essential part of their plans to ensure that systems and processes are fit for the future and scalable, so that they can continue to provide excellent service for their growing customer base.
Business Stream is part of the Scottish Water Group, but is governed, managed and operated on an entirely independent basis from Scottish Water as required by the Water Services etc. (Scotland) Act 2005.
Business Stream employs c.400 people, most of whom operate from the Head Office at Lochside View in Edinburgh. In 2020/21 their reported turnover was £574 million (forecast at £625m in 2021/22).
The Financial Controller will be responsible for all aspects of financial control at Business Stream, including the preparation of statutory accounts, monthly management accounts, managing the year-end audit process, cash flow management, business partnering, accounts payable and receivable, payroll, budgeting, financial planning, compliance and regulatory support. The individual will also lead, coach and develop the Financial Control team, which includes 4 direct and 14 indirect reports.
The Financial Controller role is a key role in the senior leadership team at Business Stream and as such they will be required to work with other senior managers from across the business to lead and motivate multi-disciplinary teams in a fast paced, competitive environment, to deliver the strategic goals.
With the transformation programme central to future growth and ongoing success, the Financial Controller must be systems and process focused in their approach to driving management information and efficiencies in the current model, while engaging the finance team and broader business in the business improvement journey.
This is an exciting opportunity for a talented finance professional with the desire to join a vibrant, well respected and successful business that is now one of the largest in Scotland. It is crucial that the appointed candidate knows what a high performing finance function looks like, however, their approach, attitude and leadership credentials will be particularly important to ensure long term success.
The successful candidate will be a qualified accountant by training and will be people focused in nature, with an outlook focused on continuous improvement. They will be business partner focused with the ability to influence at all levels, building strong long-term relationships with internal and external stakeholders.
The appointed individual will report directly into the Finance Director and will be required to manage a team of 4 direct and 14 indirect reports involved in all the key functional areas of finance. They must also have the ability to grow within the role, as well as having the desire and talent to step up into a Finance Director capacity in time.
Key Candidate Requirements
- An experienced leader who has a successful track record of delivering results by inspiring and motivating others, to head up the Financial Control function
- A fully qualified accountant with significant PQ experience, who has operated at Financial Controller level within a similar sized organisation
- Highly driven, self-motivated and outcome focussed with a commitment for delivering service excellence
- Strong people management skills demonstrated in previous management roles, including coaching, delegation, empowerment and team development
- Exceptional written and verbal communication and influencing skills across a range of levels including Board and Senior stakeholders
- Strong attention to detail
- Able to interpret numbers and provide analysis and insight concisely to a range of different stakeholders
- A commercially orientated “can-do” approach and be able to deliver pragmatic solutions for a fast paced, growing business
- Ability to delegate effectively and manage the delivery of multiple projects, within tight deadlines
- Experience of a organisations growing via M&A would be advantageous, especially with regard to due diligence and post-acquisition integration
In addition to a very attractive basic salary (details available on application) there is a car allowance (£6,000), pension scheme with employer contributions up to 10%, attractive bonus potential up to 30% of salary and 37 days holiday inclusive of public holiday.
What to do Next
To find out more or see a full Position Profile, please contact their retained advisor, Mark Lewis at Rutherford Cross by emailing [email protected]
Please note that any direct or third party approaches will be sent to Rutherford Cross for review and assessment.