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LMA

Head Of Finance

LMA
London, United Kingdom
Posted about 19 hours ago Permanent £110,000-£125,000 Plus Bonus and Benefits
Juneid
Posted by
Juneid Razzak
Executive Recruiter
Asset Finance & Leasing

The person in this role is the designated Head of Finance for all of the Asset Finance Leasing division UK subsidiaries, plus overseas branches based in Germany and Sydney. This is a very significant responsibility; the combined value of assets under finance across these entities is approximately USD 3bn and annual gross revenue is approximately USD 50m. The Head of Finance leads and mentors a team of accountants ensuring that the financial reporting for all 14 companies is correct on a daily and statutory basis (companies are a mix of UK limited entities, Joint Ventures, partnerships and overseas branches). The Head of Finance has complete responsibility for all financial aspects of these companies, including the overall tax and hedging strategy. None of the Finance and Control associated with these companies is outsourced to the bank; it is all managed internally by the finance team which is led by this individual. Specifically, the Head of Finance:

 

  • Is responsible for the overall financial strategy of all 14 companies.
  • Ensures the accounting team produces full month reconciliations and reports in an accurate and timely manner, including the production of annual statutory financial statements under IFRS which are subject to audit by KPMG (14 companies).
  • Oversees the accurate consolidation of all 14 companies under both IFRS and US GAAP, ensuring all consolidation adjustments are made accurately. Also responsible for supervising the timely delivery and review of quarterly reporting.
  • Manages the annual budgeting process across all 14 companies and also for all US leasing companies working alongside the company’s President and JGM.
  • Is responsible for designing and delivering entire German GAAP accounting strategy. Also oversees production of German GAAP financial statements in conjunction with their German accounting advisors.
  • Ensures that the team produces all VAT returns in a timely manner and that all VAT accounts are reconciled each period. Provides VAT advice and mentoring to more junior staff. They currently has multiple VAT registrations in the UK, plus registrations in Ireland, Germany, South Africa and Australia. Expected to have excellent VAT knowledge in all jurisdictions.
  • Oversees monthly tax accounting and ensures all Direct Tax (Current and Deferred) is accounted for correctly across all entities. Manages working relationship with EY’s tax team.
  • Oversees the production of monthly management accounts, business metrics and budget trackers for use by senior management. Provides critical analysis of reconciliations produced by team members and mentors / guides team members.
  • Oversees smooth running of entire business. The Head of Finance is one of the cleints most experienced staff members and has oversight over every facet of the business to ensure its smooth running.
  • The Head of Finance is one of a very small number of people on which business is built. This individual drives and delivers internal strategies to advance the business. He / she is expected to participate actively in business process change projects and go far beyond pure accounting to deliver projects in conjunction with the Operations and IT teams.
  • Has the gravitas and knowledge to represent in cross-functional meetings within the bank dealing with internal and external parties at the highest levels of seniority.

Background

  • The Leasing and Asset Finance division is a standalone business with multiple legal entities spread across three jurisdictions. This is the most senior strategic non sales role within the business. The Head of Finance is also given the additional responsibility of providing oversight for the entire back office function.
  • This role reports directly to head of Team
  • This role is key in building and developing the strategy which delivers all of the reporting systems and processes used by the team. This individual is part of every project team due to strong knowledge of business and reporting requirements.

Facts

 

  • Head of Finance across 14 entities, managing a portfolio with totals assets in excess of USD 3 billion and gross profit of around USD 50 million.
  • Strong accounting knowledge is required (must be a fully qualified accountant). Required to oversee production of standalone accounts under IFRS plus consolidated financials under IFRS and US GAAP. German GAAP accounting knowledge also required.
  • Expert understanding of lease, loan and derivative products is required as is the ability to critically evaluate the impact of new accounting standards on the business.
  • Ultimately responsible for all financial reporting and all financial data used by the President of LF, as well as various accounting groups in London, New York, Sydney, Frankfurt and Tokyo.
  • This is a very broad role with varied reporting requirements which must be delivered in a high pressure environment. The ability to multi task and deal with issues across all jurisdictions is key.
  • This role is the most senior contact for corporation tax and VAT issues, dealing with tax authorities across multiple jurisdictions, not only in the UK but also for cross border deals in seven  other EU countries at this time with number expected to increase).
  • Overseas production of audited financial statements and is the most senior point of contact for external auditors for approving financial statements.
  • As the most senior back office staff member, he/she is called upon to help other team members when issues occur and is expected to regularly teach or guide others on issues.
  • This role is part of all project management teams to guide development of business (no development takes place without his / her support and sign-off). Ensures all projects are aligned with overall LF strategy.
  • The Head of Finance has been tasked with developing overall strategy, processes and systems.

This has involved specifying all systems required, identifying appropriate partners to work with, both internally and externally, providing the operational framework and attaining GM approval for the chosen approach.

  • Acts as an approver for compliance purposes, particularly for KYC approvals for new clients

 

Knowledge, Skills, Experience & Qualifications

  • Very strong numerical and analytical skills required, including expert Excel and modelling skills
  • Expert lease / loan / derivative knowledge.
  • Chartered Accountancy qualification is mandatory: ACA, ACCA, ACMA and relevant degree
  • High level of industry experience is essential (the current holder of this role has nearly 20 years of leasing experience, 14 years of which with have been gained in current post.
  • Direct and indirect tax knowledge (current position-holder is also the company’s SAO)
  • Ability to distill large amounts of complex information and competing requirements to deliver a coherent and aligned strategic vision across the business.
  • Ability to work at a high level across every business area, providing strategic direction and critical analysis to the President of the company.

Ability to run and manage multiple work streams, working under pressure, whilst keeping a calm head and motivating more junior members of staff to work to the best of their ability.

 

Job ID  HOF5486
ABOUT COMPANY
London, United Kingdom
HR & Recruitment
LMA Recruitment is an award winning, professional services recruitment organisation, with offices in London and Singapore. Since the inception of the...
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