Finance Director

Finance Director

My client, high growth construction services organisation is seeking to hire a new Finance Director.  Joining the leadership team in Galway, you will be responsible for both their Irish and German operations.

You will be fully qualified accountant, with 10+ years’ experience. This role will be formed in 2 sections: 1 - Transition and 2 - Steady State. You will be responsible for optimising the finance department across two countries, resolving legacy issues and supporting wider departmental streamlining. At the outset, this will require travel to Germany where you can add value. Once competence is shown and key milestones are being met, this role can be reduced to a shorter working week. This is a permanent role, with workplace/hybrid flexibility. This will suit a high energy individual, a strong communicator, who has a track record of getting things done. You must be able make tough calls, avoid risks and be comfortable with taking overall accountability for you departmental workstream.

REQUIREMENTS

Section 1 - Transition

·       Join Transition Team (TT) who are already engaged in a 22-week sprint to straighten out legacy issues and establish a new OS (Operating System).

·       This sprint is broken down into x9 departmental work streams, each with their own leader.

·       You will be the leader of the Finance Workstream and will be responsible for the full overhaul and rebuild of their financial system.

·       Each departmental sprint will be broken down into various milestones, with a planned completion date of 13/8/24.

·       As milestones are achieved, steady-state milestones/ KPIs will be defined.

Section 1 - Transition - Milestones             

1.               The Finance Department defined and re-organised to be fit for purpose.

2.               The Finance Department playbook created as part of the new OS.

3.               Investigate and implement optimum group structure and transfer pricing mechanism.

4.               A single accounting package across Ireland and Germany.

5.               Migrating Germany onto Quickbooks.

6.               Trade Creditors and Debtors – Established/Confirmed/Triaged.

7.               Resolve legacy intercompany charges.

8.               2023 accounts closed off.

9.               2024 budget is resolved and in play.

Section 1 - Transition - Inputs      

·       Reorganise the finance department to be fit for purpose.

·       Reduce the number of external contractors ((Ger) to decrease costs and increase efficiencies.

·       Reflect the new realities of German turnover in the re-org.

·       Undertake a forensic audit of Germany accounts - P+L, cash reconciliation, Balance sheet with focus on AR & AP, tax balances esp. VAT and payroll taxes.

·       Transfer German accounts system to QuickBooks as per Ireland P+L.

·       Review '23 accounts to get further accuracy, ensure robust support for all balance sheet accounts or write off.

·       Support KPI development for site projects.

·       Improve and implement 2024 P+L.

·       Establish a confirmed list of creditors and debtors, triage activity.

·       Attend, monthly meetings with leadership providing accurate information on project performance, P&L.

·       Liaise with Head of Ops and Head of People to source outsourced HR and Contract Management, which will streamline activities and reduce the impact on cash flow.

Section 1 - Transition – Personal Impact  

·       Competence in scope/priorities/milestones – Redefine/Agree/Implement workplan with Head of Ops

·       Implement workplan into transition team (TT) delivery plan, managed via Monday.com.

·       Join 20min daily scrum with the TT and a 1hr weekly progress call with principals.

·       This will revert to steady state/BAU weekly call in August, weekly SLT / Directors, and quarterly shareholders meetings taking over.

Section 2 - Steady State 

Process and System Implementation:

·       Design and implement industry-standard accounting practices, financial reporting systems, and internal controls across all financial functions (cash management, accounts payable/receivable, payroll, etc.).

Financial Reporting and Compliance:

·       Ensure timely and accurate financial reporting in accordance with all statutory requirements (VAT, tax, etc.).

Management Reporting and Forecasting:

·       Ensure timely and accurate internal management reports and job profitability analysis, including updated forecasts for the current year.

Cash Flow Management:

·       Develop and implement a robust cash flow forecasting model to optimize cash flow and manage working capital effectively.

Financial Leadership:

·       Partner with the Head of Operations, CEO and senior leadership team to develop and implement strategic financial plans and ensure alignment with overall business objectives.

Team Leadership:

·       Build and motivate a high-performing finance team, fostering a culture of accuracy, efficiency, and continuous improvement.

Risk Management:

·       Identify, mitigate financial risks, developing and implementing risk management strategies.

REQUIREMENTS

·       ACA/ACCA/CIMA

·       10 years + at a senior finance level in a turnaround or high-growth environment.

·       Strong understanding of GAA & IFRS.

·       Deep expertise in financial systems implementation and process improvement methodologies.

·       Excellent analytical and problem-solving skills with the ability to identify and address complex financial challenges.

·       Strong leadership and communication skills, with the ability to build a cohesive and motivated team.

·       Experience in managing and mitigating financial risks.

·       Proficient in financial modelling and forecasting tools.

·       Transfer pricing experience – Desired but not essential.

·       Experience in the construction/ manufacturing industry - Desired but not essential.

For more information, please contact [email protected]

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