Finance Director

Recruiter
Cambridge GaN Devices Ltd
Location
Cambridge, UK
Salary
Competitive salary
Posted
04 May 2021
Closes
19 May 2021
Ref
2095824714
Job role
Finance director
Experience level
Director
Finance Director

Team - Reporting to CEO

Location - Cambridge

Contract - Permanent, Full-Time (Possibility of part-time)

Company Background

Cambridge GaN Devices (CGD) is a tech start-up with the mission to transform the way the world deploys energy by delivering the most efficient power switch. No more wasted energy and yes to efficient power electronics that can enable less CO2 emissions and smaller, less bulky electronics. CGD is a fabless semiconductor company, spun out of the world-renowned Electronics Department at the University of Cambridge, and is focused on designing, developing and commercialising power transistors and Integrated Circuits based on the most efficient material available, Gallium Nitride (GaN).

Triggered by a world-wide need to save energy and achieve a more sustainable use of natural resources, the power electronics market will see significant innovation over the next 10 years. Having already built a team who are leaders in their field, with decades of expertise in the power semiconductor industry, CGD are leading the way towards this energy-revolution.

Would you like to contribute to shaping the future of power electronics, by joining a growing team in a passionate and innovative environment? Join CGD and be part of the adventure!

The Opportunity

CGD is a rapidly growing fabless semiconductor business, based in Cambridge. With an existing team of around 25 people, we plan to grow significantly over the coming years and are now looking for a Finance Director to support and help develop the finance function, so that it continues to provide high quality financial control, FP&A and reporting on a daily basis.

The Finance Director will play an integral role in the growth of the business by improving operational understanding across the organisation and through strong business partnering. Furthermore, the Financial Director will also be responsible for contributing to the overall strategic and operational direction of the business.

Reporting directly to the CEO, you will work closely with the senior management team on a daily basis and will form part of the executive management team. It is expected that the Finance Director will quickly establish themselves as a real contributor who is willing to participate, add value, and provide support in a rapidly growing technology business.

Whilst we are ideally looking for a full-time person in this role, we can be flexible and are happy to consider applications from candidates who are looking for 3.5 or 4 days per week instead.

Main Responsibilities

Management and Operations:
  • Support the CEO in managing many of the support service functions for the company including company secretarial, contracts administration, insurance, etc.
  • Partnering with CEO, Board and executive team on strategic planning
  • Provide strategic guidance and support as a member of the executive management team
  • Manage accounting, investor relations, legal, tax, and treasury
  • Oversee employee EMI plans (or other similar employee incentive schemes), with particular emphasis on maximizing a cost-effective benefits package
  • Assist with commercial and contractual negotiations, as and when required
  • Identify and manage company funding and investment requirements and manage relations with investors and prospective investors


Planning
  • Assist in formulating the company's future direction and supporting commercial and strategic initiatives
  • Provide strategic, commercial, legal, financial and corporate advice to the CEO and executive team
  • Plan, coordinate and prepare updates to the business plan and associated financial forecasts
  • Participate in the implementation of strategic business plans
  • Develop financial and tax strategies
  • Manage the capital request and budgeting processes
  • Develop performance measures (KPI) and monitoring systems that support the company's strategic direction


Risk Management
  • Understand and mitigate key elements of the company's financial risk profile
  • Monitor all open legal issues involving the company, and legal issues affecting the industry
  • Construct and monitor reliable financial control systems
  • Maintain appropriate insurance coverage
  • Ensure that the company complies with all legal and regulatory requirements
  • Ensure that record keeping meets the requirements of auditors and government agencies
  • Ensure that company contracts are managed in accordance with good industry practice
  • Report risk issues to the board of directors
  • Maintain relations with external auditors and investigate their findings and recommendation


Finance Controls & Systems
  • Introduction and successful implementation of a new ERP and Accounting system to capture and report on both financial and non-financial information throughout the supply chain, including the requirements of the fabless semiconductor business model
  • Develop financial reporting for the exec team members and departmental reporting
  • Ensure adequate financial systems and controls are in place to provide accurate accounting information and safeguard the company's assets
  • Manage and report on Financial KPIs and milestones


Funding & Forecast
  • Prepare annual forecasts and quarterly updates
  • Monitor cash balances and keep schedule of cash flow, working with the executive to manage the cash out date and priorities for spend
  • Manage all aspects of financial due diligence and support due diligence process in all other areas
  • Manage bank signatories and mandates with banks
  • Review & approve payments
  • Manage exchange risk


Accounting
  • Finalise & Review monthly management accounts
  • Supervise the accounting activities of the Accounts Assistant
  • Prepare annual statutory accounts
  • Prepare budgets for R&D grants and liaise with Director of Engineering on all financial matters relating to grants
  • Provide monthly financial board report to CEO


Payroll
  • Prepare & submit annual return of employment related securities (options) to HMRC
  • Ensure all payments to HMRC are made within required time


Tax
  • Preparation of schedules for R&D tax credits computations and liaise with accountants on tax returns
  • Prepare & submit EIS forms to HMRC and investors on fundraising rounds
  • Review quarterly VAT reports
  • Apply for EMI valuation from HMRC


Company Secretary
  • Attend monthly board meetings and take the minutes of the meeting for review by CEO & Chairman
  • Maintenance of Shareholder register and statutory registers
  • Maintenance of options schedules
  • Submission to Companies House of annual returns & any other necessary reporting
  • Manage investor director consent
  • Maintain oversight of the company's statutory responsibilities


Insurance
  • Liaise with insurance brokers and provide all information for annual renewal
  • Submit required information for any insurance claims


Team Management
  • Build a strong finance department as the business grows
  • Line management for the Office & H&S Manager, and Accounts Assistant


Skills and Experience

Essential
  • Be a fully qualified Accountant
  • Strong post qualification experience working in a technology company
  • Knowledge of start-up business requirements including cash control, R&D grants & tax credits, options and fundraising activities
  • Experience of managing a high-performing finance function, as well as broader management experience
  • Experience of ramping up revenue and production
  • Experience of the fundraising due diligence process
  • A considered and thoughtful approach, with the ability to influence strategic operational choices through detailed analysis and cohesive argument
  • Must display a talent at interpersonal and communication skills, both verbally and written
  • Must also be able to engage and influence people at all levels of the organisation


Desirable
  • Experience of working in a fast growing, technology orientated environment, preferably a fabless semiconductor or similar company
  • Experience with dealing with legal documents, commercial contracts, NDAs
  • Company Secretarial experience


Benefits

  • Excellent salary
  • Share options scheme available (so you own a piece of the company!)
  • Pension scheme
  • Flexible working options (both location and times)
  • Annual leave allowance of 33 days (including bank holidays)
  • Training and development
  • IP bonus scheme
  • Involvement in collaborative projects and grants with University of Cambridge and other partners
  • Regular social events including pizza lunches and monthly team building/wellbeing activities


We believe in equal opportunities

It takes a diverse and inclusive community of passionate, talented and committed people to build a system to shape the future of power electronics. We're an equal opportunity employer, and welcome applications from people of all backgrounds, with different outlooks and experiences. We are well set up for collaborative remote working, with the full team working from home in the UK and other cities in Europe during the current lockdown.

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