Rutherford Cross is delighted to be retained by Gas Sensing Solutions to recruit their first full time Finance Director.
Gas Sensing Solutions Ltd. (GSS) is a pioneer in the use of solid-state mid-infrared semiconductor devices for gas sensing applications. For more than a decade the business has been delivering state-of-the-art gas sensors for high performance gas measurement applications.
GSS designs and manufactures a wide range of solid-state NDIR gas sensors, providing innovative measurement solutions for the world’s leading OEMs where low power, high accuracy and high-speed measuring capability are required.
Headquartered in the Cumbernauld, Scotland, GSS has grown organically with the overseas markets accounting for 70% of sales. The business currently employees 27 staff with a turnover of £3m and has largely been profitable over the years, though is currently in a product investment phase. The business is backed by Tricapital and Scottish Enterprise.
To date, GSS has been supported by a part-time CFO but is now seeking a full-time Finance Director to help lead the company through its next growth phase. This role will support and report into the Chief Executive Officer and be part of the Senior Management Team, while leading a small team in the head office.
This is an opportunity to join a vibrant and already successful business with strong future prospects, and to be part of the Senior Management Team in an ambitious company.
The view is to recruit a senior Financial Controller moving into their first no.1 role, or a junior Finance Director seeking a better opportunity. With either option, it is key that the individual has the ambition, skills and experience to grow with the business over time as it develops into new markets.
The Finance Director will be a key member of the Executive team and responsible for the following key deliverables:
- Form a close working relationship with the Chief Executive Officer and the wider Senior Leadership Team
- Lead and own the finance strategy to help optimise the company’s financial performance and commercial position
- Take overall control of the company’s accounting function
- Ensure that company financial systems are robust, compliant and support current activities and future growth
- Ongoing development of the monthly board pack including the preparation and presentation of financial information, value-added commentary, KPIs and analysis to help the board understand better and improve the performance of the business
- Preparation of monthly management accounts and annual statutory accounts
- Create monthly reports to identify results, trends, and financial forecasts
- Review all financial plans and budgets regularly to look for cost reduction opportunities
- Establish and implement financial reporting systems to comply with government regulations and legislation
- Take ultimate responsibility for the company cash management policies and performance
- Planning, creating and reviewing the preparation of monthly consolidated accounts and reports to the Board of Directors
- Ensure the presence of robust financial controls and risk management frameworks
- Establish a high level of credibility and manage strong working relationships with external parties including customers, suppliers, bankers and investors
- Support the Chief Executive Officer by playing a key part in the expansion of the business through sound financial stewardship
- Key contact for external advisors including auditors, tax advisors, etc.
- Primary Legal and HR point of contact and main focal point with external advisors
- Primary interface with the Bank
A summary of the key candidate requirements are as follows:
- An experienced finance professional with a proven track record of success within a similar, challenging role
- A background working in a manufacturing based business
- Previous experience of implementing/migration of a new system highly advantageous
- Previous experience of Product Costing
- Experienced in working with a Board, building their confidence in the reporting, financial models and processes/controls
- Willing to take ownership for driving performance across the business, seeking involvement and engagement in all value drivers appropriately
- A strong relationship builder who will challenge and collaborate internally and externally
- Extremely strong commercial acumen with the skills to input positively into commercial contracts, customer/supplier relationships and any other drivers that can boost financial performance
- Have an empathy with other manufacturing business functions including sales, engineering, production, etc.
- Familiar with international currency accounts and secure methods of payment (letters of credit for example), bank guarantees, etc.
- A good strategic thinker who can execute key decisions in a balanced way, effectively assessing the risk versus opportunity equation
- Previous experience of working in an international business would be advantageous but not essential
- Degree qualified with a strong academic track record
- Professionally qualified accountant (CA, ACCA, ACMA,CIMA) with PQE consummate with a role at this level of responsibility
Skills, Knowledge & Abilities
- Knowledgeable on current accounting standards and any proposed changes that are applicable to the business
- Ability to prioritise and adapt to workload
- Strong analytical, organisational and decision-making skills
- Excellent communication and problem-solving skills with an ability to influence key members of senior management
- Ability to assess and drive business improvement projects
- Excellent IT skills, with a proven track record in optimising finance systems