Cognus Limited

Principal Accountant Full time: 37 hours per week Permanent Contract Cognus are seeking to appoint an experienced and innovative Principal Accountant to join the Strategic Leadership Team and to lead and manage an effective finance service for the Company. Reporting jointly to the Managing Director of Cognus and the Assistant Director of Finance at the London Borough of Sutton (company shareholder), this role will provide professional finance and accountancy advice and support to the Managing Director to safeguard the Company's financial standing and provide assurance to London Borough of Sutton Commissioners to support delivery of excellent outcomes for customers. We are looking for a fully qualified Accountant with proven experience of producing or being responsible for the production of accurate statutory financial statements with previous work experience as a senior Financial Accountant or similar role. Knowledge of Local Government Finance along with the experience of financial software and reporting packages such as Xero and Approval Max is desirable. As the lead on the financial accounting for the Company, the post holder will be expected to ensure that the Company's accounts are compliant with best practice, relevant legislation and codes of practice and lead and manage the finance team undertaking all financial activities for the Company including strategic, operational and transactional finance tasks. The post holder will also lead on the preparation of the annual budget, Medium-Term Financial Plan and presentation of budget to the Board, Cognus Finance Committee and other forums as required. The post holder must be confident in dealing with the Board and advising non-financial managers in identifying and implementing savings, value for money improvements and cost mitigation activities. Job Summary Works jointly with the Managing Director of Cognus and the Assistant Director of Finance at the London Borough of Sutton (company shareholder) to lead and manage an effective finance service for Cognus. Provide professional finance and accountancy advice and support to the Managing Director to safeguard the Company's financial standing and to support delivery of excellent outcomes for customers. Lead and manage a team undertaking all financial activities for the Company, including strategic, operational and transactional finance tasks. Lead the ongoing development of the finance team and support team members to achieve high standards of performance, creating a culture that recognises and rewards high quality professional practice and encourages continuous learning. Maintain the integrity of the Company's financial records including oversight of the chart of accounts and all transactions to enable accurate and timely financial and management reporting. Ensure that there is an effective framework of governance and control for financial reporting, budget setting, monitoring of spend & forecasting, and budget management within the Company. Be accountable for the production of the statutory company accounts ensuring relevant guidance and legislation is followed, and all taxation requirements are met. Provide high quality customer-focused financial information, support and analysis that delivers useful business insights to support effective decision making. Identify financial risks and issues and contribute to their mitigation Develop high standards of financial literacy throughout the company through delivery of relevant training and guidance to finance staff, budget holders, senior management and other Company employees Work closely with partners in the London Borough of Sutton and other partners to meet all financial reporting and data submission requirements of the Company shareholders Maintain oversight of all company contracts with external providers Principle Accountabilities: General: To lead on financial accounting and ensure that the Company's accounts are compliant with best practice, relevant legislation and codes of practice. To lead on the development of financial literacy across the company, supporting the achievement of Company objectives through sound financial management Financial Planning: Agree and implement payment schedules for all services commissioned from the London Borough of Sutton Implement appropriate creditor and debtor management processes, to ensure the accurate and timely recording of debtor and creditor balances, that the Company meets agreed payment terms to creditors, that aged debt is proactively managed and minimised and that bad debt is appropriately managed Lead on the preparation of the annual budget, Medium-Term Financial Plan and presentation of budget to the Board, Cognus Finance Committee and other forums as required. Forecast costs and revenues within the financial year and for future years, reporting potential risks, opportunities or challenges to Senior Managers and the Cognus Finance Committee Monitor and report on accounting discrepancies, drafting reports to senior management identifying variances, reporting on actions taken and identifying those matters requiring senior management attention Gather and monitor financial data (e.g. sales revenues and liabilities) Support managers to identify and implement savings, value for money improvements and cost mitigation activities. Provide high quality financial information and analysis and undertake complex financial modelling and forecasting to support decision making and budget planning. Budget Monitoring/Financial Reporting: Prepare high quality financial reports on a monthly, quarterly and annual basis including all statutory statements (Balance Sheet, Profit and Loss, and Cash Flow statements) Present financial reports to both finance and non-finance professionals, including members of the Management Team and the Board, on a regular basis offering insight and interpretation of the statements that supports proactive, timely and informed decision making Establish and maintain effective governance and control systems and processes for the sound financial management and stewardship of Company monies, that supports effective budget management and enables statutory reporting requirements to be met. Provide information to ensure that statutory returns, grant claims, taxation returns, relevant FOI requests and other requests for financial information are produced in a timely and accurate manner. Establish and maintain an effective quality control and compliance monitoring framework to allow early identification of financial issues and risks and seek remedial actions in the case of budget overspend Within this framework, ensure that there is review and oversight of financial balances, transactions or budget monitoring including reviews of timeliness and quality of forecasts entered by budget holders. Work with external partners where relevant to ensure that relevant financial and non-financial information is provided to support consolidation and reporting. Closure of Accounts: Coordinate and implement effective processes to manage financial year end and ensure all accounting requirements are met. Ensure budget holders are aware of the closure timetable and protocols to follow to ensure that the appropriate year-end adjustments (accruals) are actioned in time to meet statutory deadlines for both the Company and the Shareholders. Perform month-end close processes including accurate month end accruals to ensure accurate and timely income recognition. Respond to complex internal and external audit queries and recommendations in line with the Company's current audit protocol with the aim of continually improving the Company's financial management and reporting. Ensure all work undertaken is compliant with Company financial regulations, standing orders, policies and practice, statutory requirements, and relevant accountancy bodies guidance. Maintain oversight of the Company's Balance Sheet to ensure that all balances are understood, can be supported and represent real assets or liabilities Provide financial year end information to the London Borough of Sutton for inclusion in group accounts, ensuring information provided is accurate, timely and meets relevant reporting requirements Other: To manage the Company's external contracts with providers such as the Local Authority and negotiate service level agreements, service contracts and commercial operations, resolves issues and provides a contract management check to ensure that all services are meeting contracted requirements Manage the Company's compliance with taxation requirements including VAT and Corporate Tax, seeking support and guidance from the Company auditor where required Provide appropriate support, guidance and training to enable officers (both finance and non-finance officers) to carry out their financial management responsibilities. Participate in all Company staff management and development processes Ensure all direct and indirect reports in the finance function have adequate supervision, training and support; ensure that tasks are allocated and work is planned and carried out in accordance with deadlines. . click apply for full job details