Finance Manager - Commodities House

We're currently recruiting a Finance Analyst for a well known media company based in London. The role will focus on supporting the client's music business and will be responsible for the end to end Royalty Accounting process.

There will be substantial interaction with the business meaning strong interpersonal skills are a must, and prior experience of media / music will be an advantage.

Key duties:

• Support the Royalty Finance Analyst and Finance Manager in the month end close process
• support the end-to-end royalty accounting process and outward reporting to rights owners and industry bodies
• ensure all talent royalty statements are accurately produced, distributed and paid accordingly
• Ensure all invoicing for inward advances are identified, tracked and followed through to cash
• Assist with queries from licensors and the business
• Support business with balance sheet reviews and understanding of key metrics for investments, unrecouped advances, stock holding

Knowledge & Skills

• Demonstrable royalty experience, preferably within the music industry
• Experience of Record Maestro desirable or other royalty reporting applications
• Proficient numerical and analytical skills reflecting an ability to manipulate and interpret data, to provide meaningful and useful analysis for decision making purposes
• Experienced in SAP/Business Warehouse
• Accoutancy qualification is preferable

McGregor Boyall is an equal opportunity employer and do not discriminate on any grounds.

Main purpose of role

To play a proactive part in the delivery of a suite of process improvement initiatives across the wider Regional Control teams.
To take operational ownership for all financial, regulatory & management reporting of derivative positions booked within the London entities (London Branch & two Subsidiary entities). Inherent in the effective performance of this role is;

• An understanding of the overall structures within which these derivative positions play a part
• An appreciation of associated valuation components such as IPV, XVA, etc.

Key Activities

• To take production responsibility for the timely delivery, integrity and material accuracy of all financial, regulatory & management reporting submissions for the Derivative positions (Interest rate, Inflation, Credit & FX) booked in the London entities.
• To own the monthly and additional quarterly reporting of the London Branch Derivatives positions in Finance Systems, including:

• Review of all derivatives reported in the sub ledger, and dialogue with key contacts to resolve any queries.
• Preparation and review of journals required in the ledger or subledger.
• Preparation of Fresco (Head Office reporting tool) Balance Sheet derivatives submissions for the London Branch.
• Preparation of quarterly Bank for International Settlements returns.
• Preparation of the Prudential Regulation Authority bi-annual Bank of England return.

• To assist the project team and the wider Finance function regarding testing of new system development.
• To constantly improve processes where ever possible through projects or initiatives.

Requirements

• Part-qualified accountant (CIMA, ACCA, ACA), or qualified via technical experience and expertise
• Significant experience within an Investment Banking environment. Strong knowledge of Investment Banking debt products – derivatives is necessary
• Strong understanding of technical accounting policies and standards relating to investment banking products
• Able to deal with high priority conflicting deliverables within a challenging timescale
• Good communication skills, able to converse proactively with senior staff from non-Finance functions
• Microsoft Excel and Access to a good level

McGregor Boyall is an equal opportunity employer and do not discriminate on any grounds.

The Insurance Management Accountant will be responsible for ensuring all the monthly insurance journals are complete and accurate, reconciling and aligning the allocation of all insurance data to the correct underwriting year with the underwriters and ensure all the regulatory returns are completed and submitted on time.

Key responsibilities
The key accountabilities of the Insurance Management Accountant will encompass:

• Support the Financial Reporting Manager to establish/ maintain fit for purpose management accounts with insightful monthly commentary.
• Prepare monthly journals for accrued income, unearned premium reserves, claims and IBNR reserves, reinsurance and profit share/commissions.
• Assist the Financial Reporting Manager with the review of the technical accounts across the I&A division
• To work with the underwriters to ensure all insurance data in the finance systems is accurate and allocated to the correct underwriting year for reserving committees and profit share calculations
• Validate the calculations for 3^rd party profit shares due and ensure we agree and sign off the calculations with the underwriters in a timely manner
• To ensure the IBNR model correctly reflects the current loss ratios agreed at the reserving committee and to review the model on a monthly basis with the underwriters
• Support the Financial Reporting Manager in ensuring the tax compliance of the insurance division, including timely submissions of returns and tax reporting to capacity providers as well as ensuring all taxes are recorded in the finance systems in a timely manner. This is for both UK and foreign taxes. Assist in the preparation of quarterly RMAR returns and monthly CASS 5 client reconciliations ensuring these are completed and reviewed in a timely manner.
• Work with Commercial Finance to ensure the accurate reporting of revenue on a monthly basis
• To work with the Financial Reporting Manager to support all audit (including but not limited to, internal, 3^rd party and year-end), create the year end Statutory packs & accounts with supporting evidence for balances as required
• Review the missing declarations report and work with the Finance Assistants to ensure all premium declarations are loaded into the finance system escalating any clients where there are issues that prevent this being done
• Maintain monthly balance sheet reconciliations, ensuring that all aged items are managed and cleared in a timely manner, working with other parts of the Business as necessary
• Maintain a monthly balance sheet reconciliation schedule for the insurance company detailing the balances with supporting evidence, to be reviewed at quarterly BSR meetings (Balance Sheet Review)
• Take ownership for the inter-company position for the insurance company, ensuring this is reconciled monthly to agree with the other group entities.
• Work with Commercial Finance to ensure the integrity in the numbers being recorded in the management accounts and provide support on the variance to budget analysis
• Maintain and monitor reconciliations for systems feeds into SAP forming part of the management accounts/ financial statements

Knowledge

The ideal candidate for this vacancy will meet the following criteria:

• Qualified Accountant (ACCA, CIMA, Equivalent)
• Insurance experience
• Strong Technical Knowledge of applicable accounting and regulatory standards (IFRS, UK GAAP)
• Good knowledge of SAP accounting system preferable
• High personal levels of motivation and delivery orientated focus.
• A proactive, forward looking and challenging mindset.
• Detail focused with strong organisation and planning skills
• Ability to interact with and develop working relationships internally and externally in order to achieve best outcomes for the business and customer.
• Knowledge and experience of best practice within industry to consistently improve delivery within department

McGregor Boyall is an equal opportunity employer and do not discriminate on any grounds.

Fund Tax Analyst

6 months

Work within the securities / custodian arm of a leading bank to provide support on new tax products / product development. Key focus areas will be withholding taxes & capital gains taxes.

• Provide technical tax knowledge across the client’s custodian business.

• Support product development creation through whole lifecycle including post rollout maintenance
• Gather requirements from wider business use in work
• Liaise with other teams to determine impact of changes on tax products / operating model
• Create sound business cases that are digestible by non-tax colleagues
• Work closely with Change Management & IT to ensure accurate delivery of change initiatives / product development

Candidates will need a strong technical tax background as well knowledge of fund tax, withholding tax & capital gains tax.

McGregor Boyall is an equal opportunity employer and do not discriminate on any grounds.

Job Title: Finance Manager

Our client is looking for an experienced Finance Manager to oversee the finance department of their commodities business. The role will take responsibility for regulatory, accounting & treasury duties and will report directly into the Finance Director.

The successful candidate will need an accountancy qualification, experience of operating at a senior level within either the Financial Services or a Commodities business. A broad accounting skillset will be required, as will prior managerial experience.

Person Specification

• Experience leading training a team
• Chartered Accountant with senior level experience within FS / Commodities
• Superlative IT / Technology skills
• Independence of thought ability to work
• Strong written / verbal communication skills
• Good technical accounting skills (knowledge of FRS & IFRS)
• Tax knowledge (international, VAT, FATCA local)
• Evidence of prior process improvement work project management experience
• Strong derivative product knowledge

Main Duties & Responsibilities

Accounting

• Manage the day-to-day accounting operations for the client, handling all accounting, treasury and taxation related queries
• Manage the preparation of the monthly management accounts for submission and discussion
• Manage the preparation of the monthly, quarterly and annual group reporting requirements
• Lead the monthly finance meeting
• Maintain and enhance the controls environment within the finance and treasury area, including ongoing development of accounting policies and procedures.
• Provide the client with advice and technical expertise regarding the correct implementation of FRS102 & IFRS reporting standards ensuring careful consideration is given to all changes which will impact the company
• Review the financials ensuring a timely and consistent approach to consolidations and reporting
• Provide accounting and technical expertise to ensure all statutory and regulatory requirements are met
• Lead and manage the annual and quarterly external audits

Regulatory reporting

• Responsibility for managing the preparation and review of the FCA reports on a quarterly basis
• Manage the daily financial resources reporting
• Monitor the capital requirements of the business and make suggestions for subordinated loans
• Monitor changes to the regulatory capital requirements and ensure that any changes are appropriately implemented

Treasury

• Manage the relationship with the banks
• Manage and monitor the treasury function ensuring that at all times the company is meeting its funding requirements

Taxation

• Responsible for ensuring that the client continues to meet its global tax compliance requirements
• Manage the calculation of the transfer pricing and VAT

Other

• Manage the relationship with the auditors and tax advisors
• Manage the drafting of the financial sections of annual and interim reports and other public reports
• Involvement in ad hoc projects e.g. ensuring adherence to statutory and regulatory obligations.
• Perform ongoing testing of the companies’ controls to ensure compliance with J-SOX
• Lead, motivate and support members of the finance team to ensure they perform their delegated tasks in an accurate, timely and professional manner that is in accordance with current best practice and finance protocols.
• Provide support to HR in any finance related queries.
• Support the FD and CFO as and when required.

McGregor Boyall is an equal opportunity employer and do not discriminate on any grounds.