Head of Group Accounting (12-month FTC)

Division: CFO Office

Location: United Kingdom, London

Employment Type: Fixed Term

Salary: Competitive

Closing Date: 23 January 2022

Head of Group Accounting (12-month FTC)

Our mission

  • CDC is the UK’s development finance institution. Established in 1948 we invest in the most challenging markets of Africa and Asia with the aim of supporting economic development.
  • CDC has net assets of £6.8bn and a portfolio of £5.2 billion. In 2020 we committed over £1.22 billion of capital to business in Africa and Asia and are now invested in 1,200 businesses which directly employ over 875,000 workers and support many more.
  • CDC is a Public Limited Company and is wholly owned on behalf of the UK government by the Foreign, Commonwealth & Development Office (FCDO).
  • In the last few years, we have expanded our presence in Africa and Asia by opening new offices in Bangladesh, Egypt, Kenya, Myanmar, Nepal, Nigeria and Pakistan with additional locations opening soon.
  • At CDC, we take an entrepreneurial approach to investment. We think innovatively about ways to deploy our capital, attract and mobilise other investors, and drive transformational impact.
  • Primarily, CDC invests through direct equity, direct debt and funds products to achieve impact and a financial return which is reinvested into more businesses. We aim to create jobs and accelerate economic prosperity and focus on sectors that will do this; manufacturing, food and agriculture, infrastructure, financial institutions, construction, health and education.
  • CDC works with like-minded ambitious people who are primarily motivated by our mission to deliver impact. We are a growing team of over 485 and place immense value on diversity within our organisation.
  • Read more about us on our website cdcgroup.com

Team and role overview

The Finance team is responsible for the accounting, financial reporting, financial planning and analysis, investment accounting, purchasing and procurement, accounts payable and accounts receivable functions. The team consists of 18 people, including the CFO, having grown in the last 18 months to enable it to support business growth.

Purpose

The Head of Group Accounting will be responsible for the production of the annual group statutory accounts and quarterly management accounts, the day-to-day accounting of the parent company and its investment holding and operating subsidiaries. The Head of Group Accounting also oversees and monitors an effective control environment.

Responsibilities

  • Statutory reporting:
    • Take a lead role in the production of year-end (statutory) consolidated financial statements and associated notes to the accounts for the Group accounts
    • Dealing with external auditors, managing submission of audit requests, challenging disclosure recommendations and audit differences
    • Take ownership of the back half of the Annual Report and Accounts document for presentation to the Audit and Compliance Committee, and in readiness for external publication
    • Lead on a project to revamp the Annual Report and Accounts, both front and back halves
    • Keeping technically up to date and ensuring that the most appropriate accounting policies are applied; dealing with technical issues when they arise.
  • Quarterly reporting:
    • Preparation of quarterly management accounts and contribution to management reporting pack
  • Portfolio accounting:
    • Reviewing portfolio cash flow transactions in eFront in preparation for funding
    • Processing quarterly fund reports and valuations including participation at Valuation Steering Committee (VSC) meetings
    • Calculation and reconciliation of VSC adjustments to fund valuations
    • Reconciliation of the quarterly portfolio allocation report (BBS) to the general ledger
  • Oversee and monitor financial controls and recommendations for improvements.
  • Review team progress against monthly timetable to ensure a prompt month end closedown
  • Review of quarterly VAT return submissions for UK VAT registered entities and South African branch
  • Bank signatory payment authorisation
  • Assisting the Group Financial Controller with ad-hoc queries
  • Line management of a team of up to five.

The Candidate

Essential skills include:

  • Significate post qualification experience in a senior accounting role.
  • Previous Plc experience of group financial reporting and consolidation.
  • Qualified Accountant, preference for ACA (or equivalent)
  • Exceptional technical accounting skills, knowledge and application of IFRS.
  • Strong ability to implement and monitor internal controls.
  • Previous experience of managing a team and its deliverables, through the ability to motivate and inspire team performance.
  • The ability to thrive in a fast-changing organisation and take the initiative, enjoying new challenges and see tasks through to completion.
  • The ability to work with people at all levels in the organisation and externally.

Desirable skills include:

  • Private equity and investment accounting experience.
  • Prior experience of Infor SunSystems (general ledger).
  • Prior experience of eFront (portfolio management system).
  • Previously project managed a revamp of an annual report
  • Must be highly driven by CDC’s development mandate, and enthusiastic for the chance to establish CDC as a pioneer in the field of market-building, higher risk investing, and ideally demonstrate some commitment to development or social goals through previous professional or personal activity.

Our cultural values

We look for team members who aspire, as we do, to work at our best and to be:

  • Impact-led, commercially rigorous
  • Tenacious in the face of challenges
  • Collaborative and caring

CDC is committed to diversity and inclusion and welcomes all applicants regardless of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex or sexual orientation.

Apply now