Finance Manager
- Recruiter
- Michael Page
- Location
- Glasgow
- Salary
- £50000 - £55000 per annum + Bonus, 7.5% employer pension
- Posted
- 01 Feb 2023
- Closes
- 08 Feb 2023
- Ref
- JN -022023-5925528
- Contact
- Jonathan Crichton
- Job role
- Finance manager
- Sector
- Manufacturing/engineering
- Contract type
- Permanent
- Hours
- Full time
- Experience level
- Manager
The Finance Manager role is a newly created role at a time of great change in my client's business processes and ownership structure.
They have implemented a new ERP system during 2022, although there is some development work still to be completed. The purpose of this exercise is to make our processes more efficient and to improve the quality and value of the data processed. The aim is to capitalise on this investment to enhance the growth and strategic development.
Client Details
PageGroup's client was incorporated in the 60's, as the result of a research project at Glasgow University into, what was at the time, advanced semiconductor materials.
Today, they are widely considered the industry leader in R&D and small batch production lapping and polishing equipment.
My client's focus on precision planarization and consumables is aimed for the most part at research and development, pre-production and low volume manufacturing niches in the Semi-conductor market. Additionally, they have a very strong presence in the geological survey market as well as Academia.
Most of their revenue comes from the sale of machines, and between a fifth and a quarter of sales comes from consumables and spares. They also generate a small but increasing amount of income from the provision of customer training and have introduced some contract lab work.
My client is highly profitable and export around 95% of everything they produce. The HQ & Manufacturing facility is based to the West of Glasgow.
Turnover is c£9m and they currently employ 45 people.
Description
The successful candidate will be able to demonstrate that they can succeed in these key areas.
- Support the Finance Director, learn and document all current financial processes, being able to provide cover at Financial Controller level when required and have the ability to progress to that position within 1 year - 18 months. At the same time, they will develop their reporting capabilities and assist in the growth and professional development of the other members of the Finance department.
- Work with the Head of Engineering & Development as a Finance Business partner in the research and development of new products and services and collaborate with production to provide robust financial control and efficiencies within the manufacturing environment.
A holistic approach is essential and this position is central to the strategic aims over the next few years.
Other duties as follows;
Accounting and control
- Sign off on Bank reconciliations.
- Inventory control and provisions.
- AP & AR Control accounts, Credit control review and bad debt provision.
- Fixed asset, depreciation and capex control.
- Warranty provision and FOC control.
- Intercompany trade & loans.
- Internal & External Audit preparation and liaison.
- Statutory Reporting
Revenue
- Revenue recognition.
- Backlog, bookings & revenue reconciliation.
- Currency revaluation.
- External Agent Commission Accruals.
- Salesperson bonus calculations.
- Cost of goods sold calculation and review.
Reporting
- Monthly Flash report.
- Monthly reporting to parent company for consolidation.
- Management reports and KPIs.
- Parent company monthly & quarterly packs.
- Annual snapshot.
Forecasting
- Cash flow forecasts
- Annual plan and budget for presentation to parent company.
- Four short-term forecasts in year 0+12, 3+9, 6+6 & 9+3.
- Quarterly outlook.
- Involvement in ad hoc work for Strategic planning.
Tax / Government reporting
- VAT review and approval (MTD).
- Payroll & review PAYE / NIC etc.
- Corporation tax packs and reports.
- R&D tax credits.
Manufacturing
- Labour and overhead costings.
- Review of product costings.
- Involvement in new costing for product development.
Profile
The Finance Manager will likely have the following profile;
- Qualified CA / ACCA / CIMA.
- 1-3 Years PQE and on the upward trajectory of their career.
- Probably from a large practice or manufacturing background.
- Successful Business Partnering experience.
- Financial Systems Knowledge.
- Strong MS Office Skills, particularly Excel.
- All round Financial Reporting Experience.
- Team player, with the wherewithal to progress to a leadership role.
Job Offer
The Finance Manager will be offered the chance to progress their career to Financial Controller within a 12 - 18 month window.
Furthermore, they will be compensated with the following;
- Competitive salary (circa £50,000 - £55,000
- Company Bonus Scheme
- Salary Sacrifice Pension Scheme with 7.5% company contribution
- Life Assurance & Income protection scheme.