Commercial Finance Manager, Renewables Sector, Part-Time, Flexible on Location
Rutherford Cross
December 7, 2021
Flexible, United Kingdom
Job Type
Scotland:, - Glasgow
Industry and Commerce
Commercial Finance


Rutherford Cross is delighted to be working with Foster Turner Hydro Limited to appoint a Commercial Finance Manager on a part-time basis.

The Company

Foster Turner Hydro Limited (FTHL) is a recently incorporated 50/50 JV between CRF Hydro Power Limited (CRF) and Turner & Co (Glasgow) Ltd (The Turner Group). FTHL was set up to develop, construct and operate hydro power and other renewable energy projects, predominantly in Scotland.

The business currently has 3 hydro schemes in the North-West Highlands, two of which are operational and the other in construction with a scheduled in-service date of March 2022.

FTHL is currently developing a long-term strategy for the company which will see the business investing in a number of other hydro schemes, enhancing its existing schemes and analysing opportunities for co-location of battery storage and other renewable energy sources.

FTHL is committed to long term sustainable, low carbon development and helping the UK reach both its own and global climate change targets. The business will draw on the unique experience of our founders to deliver innovative, imaginative and effective energy schemes which enhance output whilst protecting the interests of the wider stakeholders and the community in the long term.

CRF is one of Scotland’s foremost Hydro operators with 35 years’ experience in hydro power generation in Scotland. They have extensive expertise in developing, constructing and operating storage hydro schemes and their current portfolio extends to 11 operating schemes with another 4 under construction/development.

The Turner Group is a privately controlled group of autonomous companies, engaged in the supply & servicing of equipment, asset rental and the provision of comprehensive support services. Employing around 1,100, the group enjoys a turnover in excess of £160m, a reputation for profit retention and a solid financial base from which to operate.

For more information on FTHL and the Turner Group please visit the links below:

Background to the Opportunity

The focus on renewable energy and the opportunities for growth in this sector are ever increasing, which has led to the creation of this exciting joint venture between CRF and the Turner Group. Following the success of the initial projects the JV embarked on, there is an appetite to grow the business and as a consequence there is now a requirement for a dedicated Commercial Finance Manager.

Transactional processing for FTHL and its subsidiaries is currently administered by the Turner Group’s finance department and an outsourced accounting provider. The development of a long-term investment strategy, initial assessment and ongoing monitoring of capital projects and the provision of financial governance will be the responsibility of the newly appointed Commercial Finance Manager. Given the volume of projects FTHL will be constructing, developing and operating in the foreseeable period there is only a requirement for this post on a part-time basis (either three or four days per week).

The organisation represents an excellent opportunity for a motivated and proven Commercial Finance Manager who wants to work in the renewables sector. FTHL provides the prospect of working for a high-growth entrepreneurial JV with a genuinely flexible approach and on a part-time basis which is rarely available within the senior finance market. This is an exceptional opportunity to join a growing renewables business and contribute to its future success by playing a key role in its journey.

The Role

Job Title:                     Commercial Finance Manager

Reports to:                  Joint Venture Board

Location:                     Flexible approach, can be based in Turner & Co’s office, 65 Craigton Road, Glasgow, G51 3EQ or home based, or alternatively a hybrid of both these options. There will be a requirement to travel to the sites in the Highlands 2-3 days per month.

Position Overview

The Commercial Finance Manager will define and chart the investment strategy for the JV, with the assistance of the JV Board. The investment strategy will provide clarity on investment timings, finance structure and expected returns.

The Commercial Finance Manager will understand the status of each investment project and be able to report against plan and be able to explain any deviations through close monitoring of capital projects and working closely with construction sub-contractors and Project Managers.

The person will share the business’ commitment to low carbon development and through time will understand the Government assistance and requirements in relation to different green energy schemes and be able to advise on options to optimize revenue from existing and future schemes.

Through all of this the person will provide strong governance and compliance to ensure the risks of the JV portfolio are understood and risk mitigations are managed.

Key Responsibilities:

  • Assist with developing the long-term investment strategy for the JV
  • Preparing financial models for investment business cases as well as providing consideration of commercial factors
  • Advising on the financial structure of investments, e.g. debt vs equity and being the lead on any bank loan applications and ongoing reporting and requirements
  • Preparing budgets and up to date forecasts for existing operational schemes
  • Project management of construction projects from a finance perspective, providing monitoring and challenge of costs versus budget
  • Performing due diligence of any future acquisitions and working alongside advisors on the deal
  • Financial management of the JV portfolio of investments and reporting progress at JV Board meetings
  • Overseeing the outsourced management accounts function
  • Ensuring appropriate financial controls are in place to provide appropriate governance over the JV portfolio

The role of Commercial Finance Manager requires a professionally qualified accountant who possesses excellent analytical skills, the ability to build productive relationships and the determination to play a key role in a fast-growing business. It is likely that the individual will have demonstrated a high level of achievement in their career to date, showing an eagerness to develop exposure to commercial finance responsibilities in a previous role.

It is critical that the individual can effectively support the JV board, whilst taking a “hands-on” approach to producing the information that these stakeholders require.

  • Qualified Accountant (CA/ACA/CIMA/ACCA or equivalent)
  • 3 years + experience of working in a commercial finance role, including experience of WIP and capital monitoring
  • Strong financial modelling skills including advance Excel
  • Excellent communication skills liaising credibly with board level stakeholders, articulating financial matters to a non-financial audience
  • Self-motivated, must be able to organise and execute work independently and with minimal supervision
  • Able to operate in quickly changing environments whilst being well organised, pro-active and deadline driven
  • Highly developed analytical skills, able to provide insightful, accurate analysis of complex financial data
  • Strong presentation skills, able to use PowerPoint or similar products to develop high quality reports
  • Experience of problem solving and implementing process improvements (e.g. efficient design of Excel reports)
  • Demonstrates courage in being able to effectively challenge the views of the JV Board and external suppliers


Salary                               £60,000 – £70,000 FTE

Company Pension:           5% matched

Holiday Entitlement:        33 days FTE

Additional Benefits:          Paid professional membership fees

Working Hours:                Flexible

The Recruitment Process

  • Initial interviews are with our retained advisors at Rutherford Cross
  • First round interviews are with Turner & Co’s Portfolio Development Manager
  • Second round interviews will be with Turner & Co’s Portfolio Development Manager & a member of the JV Board
  • Applications should be sent to Jonathan Donnelly at Rutherford Cross: [email protected]

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