• FD Designate

    Location: Nottinghamshire Salary: £75,000 Position: Permanent

    Astute recruitment are partnering with a successful manufacturing company based in North Derbyshire who have clients internationally as well as in the UK. With an experienced senior management team and Owners, they have been able to steer the business through some tricky times!

    Due to retirement, the leadership team are looking for someone to transition into an FD role in due course, but initially secure an FD Designate to come in and assist with the implementation of a new ERP/ Finance system – potentially Microsoft AX Dynamics – whilst also learning the systems and processes of the business from the incumbent Financial Controller.

     

    Key duties and responsibilities: – 

     

    • Reporting directly to the Managing Director (MD), Board and Owners
    • Responsible for overseeing the day-to-day financial operations and financial planning of the company.
    • Investigate/ source and lead the implementation of a new ERP system across finance and operations including an extensive warehouse and large inventory of stock (valuation £1.5m)
      • Key involvement in the selection of the best consultancy partner for the planned ERP implementation
      • Ongoing development of the stock rotation processes looking to further reduce levels of aged stock
      • Potentially reviewing pricing and selling aged stock to an overseas company
      • Managing customer rebate schemes to drive better sales
      • Ongoing review of the stock cost prices against standards
      • Monitoring margins to ensure accurate recording and reporting of actuals against budgeted stock and profits
      • Working alongside head of Operations to design stock review models and testing as necessary enabling best practice and efficiency of stick management, reordering and forecasting

     

     

    • Business partner for the MD to continue the growth of the business and take ownership of IT
    • Translation of the Board’s strategic objectives into a detailed business plan
    • Manage the external business relationships with the Bank, Lenders, Insurances and external Accountants/ Auditors
    • Cashflow management for the business – producing reports and analysis to reflect the company’s current and forecasted revenue streams
    • Provide support to the wider Sales Office and Manufacturing/ Operations / Production
    • Maintain and develop better insights into integrated monthly reporting, forecasting, cash control and margin analysis
    • Ensuring full statutory and regulatory compliance in accordance with HMRC and Companies House
    • Full production and review of the annual statutory financial accounts and submissions to Companies House
    • Monthly management and financial accounts
    • Balance sheet reconciliations
    • Creation of annual budget for use by the Board and Senior Management Team
    • Ongoing development of negotiations with suppliers of raw materials to secure best price
    • Review of customer contracts and contract terms regarding final account terms
    • Responsible for GDPR compliance for the company
    • Ongoing development and management of the extensive stock and and cost of sales reconciliation at individual SKU level
    • Design and ongoing preparation of monthly management pack
    • Full responsibility for all liaison with external auditors and managing the Year End Accounts Process
    • Hedging:
      • Manage the company’s foreign exchange options
      • Liaison with external broker to partner the business to protect the margin from adverse currency movements
      • ‘Spot’ purchases of multiple currency options with the aim of realising profit over time. (Mainly Euro, UDS and GB Sterling)
    • Day to day management of the small finance team with close management of the ‘back office administrative functions
    • Recruitment of temporary and permanent staff as necessary
    • Responsible for mentoring, training and development of finance and back office staff
    • Payroll – management of the in-house payroll function for weekly and monthly paid staff
      • Responsible for P11ds for the Directors and Owners

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