Chief Finance Officer

Job Title:Chief Finance Officer

Line Manager: Chief Operating Officer (COO)

Hours of work: 28 hours per week

Salary: £45,000

Role Description

The Chief Finance Officer (CFO) will lead in the development and implementation of the Cathedral's financial strategy and objectives, providing expert financial guidance and support to Chapter and senior colleagues to develop strategy to deliver Chapter's vision. The postholder will ensure law and regulatory compliance and that all aspects of financial planning and management are conducted to provide accurate, relevant and timely financial information to the Cathedral, Chapter and St Edmundsbury Cathedral Trust and Enterprises Ltd.

The CFO will play a lead role in advising the Chair of Finance and Chapter. They will attend all Chapter and Finance Committee meetings.

The CFO is a member of the Cathedral's Senior Management Team and will deputise for the Chief Operating Officer (COO) on occasions.

Key Responsibilities

The CFO will support the Facilities Manager in the development of the Cathedral's Property portfolio and our Net Zero Carbon Strategy.

Strategic:

• Overall responsibility for the finance function ensuring the accurate and timely presentation of management accounts, budgets and cashflow reports and annual accounts for the Cathedral and Enterprises.
• Work with the COO and senior members of staff and clergy in developing the Cathedral’s commercial strategy and delivery of Cathedral Master Plan.
• Providing strategic business planning support to all commercial and charitable operations.
• Be a part of the Senior Management Team taking a leadership role across the whole of the organisation, supporting Chapter and Heads of Departments, and working constructively with the COO and Chair of Finance, Finance committee and Risk Audit and Review committee.
• Proactively asses the impacts on finances to identify and mitigate any significant risks
• Communicate the Cathedral finances to a range of stakeholders as required (e.g. Cathedral congregation, volunteers, funders, donors etc).
• Work with the Finance Committee, St Edmundsbury Cathedral Trust and Chapter to ensure that investments are delivering the best possible return.
• Oversee the introduction of a coherent pay scale for the Cathedral and Enterprises.

Operational:

• Line manage and work closely with the Finance Manager to ensure the effective management of the Cathedral finances including areas such as payroll and pensions.
• Oversee the preparation of year-end reports and financial statements for the Cathedral, St Edmundsbury Cathedral Trust and Enterprises Ltd.
• Work with the Marketing and Communications Manger to review the presentation of our Annual Report and Accounts.
• Produce and oversee the annual budget.
• Prepare monthly management accounts.
• Responsible for ensuring an effective routine of internal and external audit.
• Helping Chapter with the process for re-tendering for new auditors from time to time.
• Oversight of the various requirement of HMRC, including VAT, PAYE, and NI.
• To undertake essential company secretarial and compliance tasks ensuring compliance with the Charities Act 2011, company law, financial regulations including the annual returns to the Church of England, Charity Commission and Companies House.
• Oversight and authorisation of claims for Gift Aid, and projects under the Listed Places of Worship Grant Scheme.
• Ensure effective financial controls are in place.
• To ensure that the Cathedral's restricted funds and investments are effectively managed and accessible to support cash flow or key projects as needed.
• Ensure compliance with all relevant accounting standards, financial policies, regulations and all relevant legal frameworks, together with appropriate management and financial controls and reconciliations are in place, and that the Cathedral has effective banking arrangements.
• Critically assess whether the Cathedral’s accounting software SAGE is appropriate and fit for purpose.
• Support departments across the Cathedral with project development by advising on financial and commercial plans and help develop capital projects and generate business cases and financial forecasts for major developments, undertaking effective tendering for works, and to fulfil the reporting requirements, and their terms and conditions, for donors and grant-making bodies.
• Work with the COO to effectively manage contracts held by the Cathedral (e.g. maintenance, utilities, IT, etc) and ensure value for money.
• Be the lead liaison on the Cathedral’s relationship with our Bankers, Insurers and Investment Managers.
• To support the COO and Director of Enterprises in ensuring that the activities carried out by Enterprises are properly costed, and that all business plans are robust, generating positive returns, with stocks correctly accounted for, reducing the risks wherever possible.
• To ensure the Cathedral invests and prioritises its commitment to the Cathedral's Net Zero strategy.

Governance:

• Attend Chapter meetings and provide regular written and verbal reports.
• Work with the Chair of Finance, Dean and COO to ensure that management information is presented in a transparent way that enables strategic decisions to be taken by Chapter.
• Attend the Finance Committee meetings, liaising with the Chair of Finance to ensure the committee functions well with papers being sent out in a timely way.
• Attend the Risk, Audit and Review Committee meetings.
• Review any governance arrangements related to finance (e.g. Statement of Delegated Authority) at appropriate intervals.

The Abbey of St Edmund: a Millennium of English History of West Suffolk:

St Edmundsbury Cathedral along with its partners West Suffolk Council and English Heritage have been awarded a grant by the National Lottery Heritage Fund.

• The CFO must work closely with the project manager to mitigate any financial risks to the Chapter.
• To oversee and authorise financial claims to the project.
• To attend project board meetings if and when required.

Property:

• To provide support to the Facilities Manager in the production and implementation of the property strategy ensuring that it is well considered; investments in the property portfolio are proportionate and effectively delivered; and the returns from rented property are maximised.
• Oversee financial claims and grant funding processes for fabric work.
• Be responsible for developing and implementing our strategy in relation to residential property.
• Oversee residential commercial property leases and transactions.
• Ensure that our property assets are maintained effectively.
• To support and deliver the Cathedral’s Net Zero Carbon Strategy to include reducing energy costs on the Cathedral Carbon Footprint.

Safeguarding:

• Contribute to effective safeguarding systems and culture within the Cathedral alongside other members of the Senior Management Group.
• Undertake any required safeguarding training.
• Follow all safeguarding policies and procedures.

Person Specification

The CFO will bring a proven and successful track record of experience in the following areas.

Knowledge, Skills and Abilities

Essential:

• Significant management and leadership capability
• An in-depth understanding of current financial challenges and opportunities
• Understanding of advanced accounting, current regulations and tax planning
• Experience of financial project management
• Excellent analytical skills
• Ability to communicate information and financial data effectively and confidently across the Cathedral as required
• Knowledge of Capital markets beyond traditional sources
• Advanced IT skills; highly proficient in all Office packages, finance and management software

Desirable:

• Previous CFO or equivalent level experience
• An understanding of the complexities of managing financial decisions within a Cathedral or Church of England setting
• Previous experience working with volunteers
• An understanding of and experience in safeguarding best practice

Qualifications:

• Fully qualified accountant
• Evidence of continuing professional and personal development

Personal Qualities:

• Adaptable and flexible
• Able to lead, motivate and inspire others
• Committed to continuous improvement
• Results orientated and metrics driven
• Influential
• Resilient
• Steadfast resolve and personal integrity
• Able to live our values in all that you do

Other relevant criteria:

• Empathy for the beliefs and ethos of the Christian faith
• Committed to safeguarding