Accounts Associate, Finance Team

Division: CFO Office

Location: United Kingdom, London

Employment Type: Permanent

Salary: Competitive

Closing Date: 24 October 2021

Accounts Associate, Finance Team

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 £6.4bn and a portfolio of £4.7 billion. In 2019 we committed over £1.66 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 headquartered in London and is responsible for the accounting, financial reporting, financial planning and analysis, investment accounting and valuations, purchasing and procurement, accounts payable and accounts receivable functions of CDC Group. The team consists of 18 people, including the CFO, having grown in the last 18 months to enable it to support business growth.

 

Purpose

This varied role will be responsible for the provision of accounting services to assist with the production of the Group statutory accounts and will lead the investment accounting month-end process. The role will also work with the Finance team to assist with the calculation and entry of quarterly investment valuations in the portfolio system to enable production of the quarterly management accounts. The successful candidate will also be responsible for producing a number of external reporting requirements.

 

Responsibilities

Statutory reporting:

  • Assist with the production of the audited financial statements and associated notes for the Group
  • Provide investment note disclosures for UK investment holding company financial statements
  • Collation and review of quarterly trial balances from overseas investment holding companies including summary upload into general ledger for reporting purposes
  • Responding to auditor queries
  • Preparation and review of London office trial balance
  • Maintain fixed asset register and tangible and intangible assets accounting
  • Management of lease accounting entries and financial statement disclosure
  • Management of intercompany balances matrix
  • Preparation and filing of quarterly FCA returns

Investment Accounting:

  • Review of investment funding transactions in portfolio system (eFront)
  • Creation of new instruments and commitment transactions in eFront in relation to new investments
  • Performing month-end close procedures for eFront including maintenance of FX rates, FX revaluations, export and reconciliation of transactions to the general ledger
  • Processing quarterly fund reports and entering fund and co-investment valuations in eFront and dealing with queries from investment teams
  • Maintain reporting for trade and supply chain finance products to include monthly exposure recording and quarterly valuations
  • Preparing quarterly holding company valuations
  • Provide quarterly valuation reporting to Guernsey entity administrators
  • Assist with production of quarterly management accounts

External reporting:

  • Providing responses to a variety of external stakeholders including Office of National Statistics, Whole of Government Accounts, OECD overseas aid data, investor mobilisation

Team responsibilities:

  • Ensuring a prompt month end closedown with responsibilities to include preparing or providing independent review of other members of the finance team’s reconciliations
  • Bank signatory regularly authorising payments

  

The Candidate

Essential skills include:

  • Recently qualified ACA/CIMA/ACCA or equivalent
  • Suitable experience of involvement of the production of company accounts (not just audit experience)
  • Practical knowledge of IFRS and consolidation
  • Strong technical accounting knowledge
  • Proficient in Microsoft Office including, Outlook, Excel and PowerPoint
  • A keen attention to detail with the ability to review own work prior to submission
  • The ability to take the initiative, to enjoy new challenges and see tasks through to completion
  • Excellent written and oral communication skills

Desirable skills include:

  • Private equity and investment accounting experience
  • Prior experience of Infor SunSystems (general ledger)
  • Prior experience of eFront (portfolio management system)
  • Candidates should be strongly motivated by CDC’s development mission and ideally demonstrate some commitment to development or social goals through previous executive or non-executive 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, sexual orientation or educational background. 

 

Please provide a cover letter with your application

Salary: Competitive

Apply now