Finance Manager
Scotcash
Published
December 16, 2019
Location
Glasgow, United Kingdom
Job Type
Region
- Glasgow
Sector
Public Sector and Not for Profit
Specialism
Financial and Statutory Accounting, Financial Leadership and Control

Description

Rutherford Cross is excited to be retained by Scotcash, a growing organisation, making a positive contribution to society, to appoint a Finance Manager based in Glasgow.

The Organisation 

Scotcash is a not-for-profit, Social Enterprise and a Community Interest Company (CIC). Founded in January 2007 with help from Glasgow City Council and GHA, the organisation’s main aim is to provide financial products and services to those who have difficulty accessing mainstream sources, such as banks and building societies.

With support from Glasgow City Council, Glasgow Housing Association, Royal Bank of Scotland, Communities Scotland and others, Scotcash focuses on the needs of those who experience difficulties accessing mainstream financial services. The organisation works with various debt advice agencies to provide assistance to access money advice services and considers this a key early intervention mechanism for interrupting the cycle of debt. Seeing the demand for a fair and affordable product in Glasgow has led to the UK wide expansion of Scotcash.

Throughout the UK, many face difficult financial circumstances and Scotcash is aimed at tackling this:

  • It is estimated that between three million 15 to seven million 16 households use high-cost credit.
  • It The UK population saves less than almost all other countries in Europe, with 59% of households not currently saving (FIC, 2018).
  • 5 million adults remain unbanked in Britain today (FIC, 2018).
  • An estimated two million people took out a high-cost loan in 2012 as they were unable to access any other form of credit (FIC, 2018).
  • 31% of the population report one or more signs of financial distress (House of Lords, 2017).
  • is estimated that between 3 and 7 million households in the UK use high-cost credit (FIC, 2017).

Scotcash is growing due to increasing demands for its services and has recently began offering its facilities to individuals in England as well as Scotland. The organisation’s most recent financial results show continued growth, with the year ending March 2019 showing an increase in turnover of close to 40% to just under £800,000

For the right candidate, this is an exceptional opportunity to join a growing organisation, making a positive contribution to society.

To learn more about Scotcash please visit them online at: https://www.scotcash.net

 

Background To The Opportunity

The role of Finance Manager has become available due to the retirement of the existing incumbent.

This is a great opportunity to work in an autonomous role offering exposure to a wide variety of finance duties. Reporting to the Chief Executive Officer, the Finance Manager will have the opportunity to play a key role within the organisation. The post-holder will ensure that strategic objectives and operational delivery models are founded on robust financial planning and sound financial controls. As well as contributing to financial management, budgeting and reporting the Finance Manager will also manage a small transactional team.

This successful candidate will be self-motivated and results driven. They will need to possess excellent teamwork, communication and organisational skills. There is an opportunity to make improvements to existing processes and controls, and therefore an individual with a flair for systems and a track record of increasing efficiency is desirable.

The Finance Manager will gain exposure to operational activity and will have an understanding of the importance of excellent customer services and have a commitment to equality and diversity.

This is an excellent time to join Scotcash as the strategic agenda is both ambitious and exciting. The Finance Manager position represents an excellent opportunity for a motivated finance professional who wants to work for an organization that has a positive impact on vulnerable members of society.

 

The Role

Responsible To:                  Chief Executive

The Finance Manager will have overall responsibility for the financial management and day-to-day financial arrangements within Scotcash. Working closely with the CEO as part of the Senior Management Team, the job holder will ensure that robust internal controls are in place to support the financial reporting framework and overall governance of Scotcash.

Duties include:

  • Day-to-day management of the finance function, ensuring effective controls are in place to support the integrity of financial information
  • Responsibility for Accounts Assistant
  • All aspects of staff management including recruitment, staff development, appraisals and absence
  • Reconciliation of bank accounts and other key balance sheet accounts
  • Overall responsibility for reconciliation between the Scotcash Loan Management System and SAGE debtor as well as supporting future system development and processes
  • Preparation of annual budgets in conjunction with the CEO; reviewing and reporting on those budgets on a regular basis to the Senior Team and the Board of Directors, particularly the income and expenditure of the business and budgetary variances
  • Preparation of monthly management accounts including trial balance, profit and loss and balance sheet
  • Monitoring of business performance and providing effective, accurate and timely accounting and performance measurement information to the Chief Executive, Senior Team and Board
  • Maintain SAGE accounting system ensuring any upgrades and future developments are carried out in a timely manner
  • Preparation of quarterly rolling forecasts, including stress testing and scenario planning, typically covering a three year period
  • Overall responsibility for treasury management, including cashflow forecasting and capital adequacy within the business
  • Liaise with accountants and auditors to ensure the production of sound financial reports and monitoring
  • Supporting the CEO and Deputy CEO in the preparation of applications for funding to stakeholders and other strategic partners; including on-going reporting to those investors and partners
  • Supporting the wider activities of Scotcash, in line with the Business Plan; representing the business in a range of settings

 

Preferred Candidate Background

A summary of the key candidate requirements are as follows:

Experience

  • Professional accountancy qualification
  • Experience of the development of budgets and longer-term forecasts at organisation level
  • Demonstrable experience of providing and explaining management accounting information to non-finance staff
  • Practical experience of the provision and explanation of management accounting information including variance analysis and trend monitoring
  • Practical experience of the compilation of the annual accounting statements for a small / medium business
  • Experience of supervising and coaching a team of staff
  • Experience of preparing audit information, working with external auditors
  • Experience of budgeting, working with financial procedures and drafting financial policies

Knowledge

  • A good working understanding of accounting processes and procedures
  • Knowledge of best practice in financial procedures and controls
  • Knowledge of relevant HMRC legislation
  • Knowledge of Company law in relation to statutory accounts and reporting

Skills

  • A competent user of Excel, Word & Sage Line 50
  • Ability to work with minimal supervision, independently or as part of a team
  • Excellent time management skills with the ability to handle competing priorities and meet deadlines effectively
  • Excellent organisational skills and attention to detail
  • A confident and resourceful individual who can work in a challenging environment
  • Excellent verbal and written communication skills, with the ability to relate to people at all levels
  • Ability to produce clear reports which inform strategic development

Values/Attitudes

  • Evidence of commitment to Continuing Personal and Professional Development
  • A leader and effective manager who is positive, energetic, determined and resilient enough to cope with the demands of the role
  • Highly professional attitude and work ethic

 

Remuneration

Basic Salary:                      £35,000- £40,000 per annum

Pension:                             3% employer

Life Assurance Scheme :       4 times the member’s annual salary as a lump sum payment to a nominated beneficiary following probationary period

Holiday Entitlement:            28 days plus 12 stats

Working Hours:                   35 hours per week

 

Recruitment Process

Initial interviews are with our retained advisors at Rutherford Cross.

Formal interviews will be with the Chief Executive Officer and Deputy Chief Executive Officer

Applications should be sent to [email protected]

 

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