Finance and Business Manager
The Trust has 83 staff and 6 business units in 3 locations. They are across education, venue hiring, health food business and community.
I presently hold a senior position in the Parnell trust. This is the senior executive role of Finance and Business Manager. I report to the CEO and the Finance & Audit Subcommittee of the board. Its overall purpose is to manage the Finance and Business Support Services, which includes finance, information technology, and aspects of human resources, management of risk, fund management and business development. The role is responsible for reviewing, and as necessary improving these functions to support achievement of the Trust’s strategic and operational objectives.
Key Responsibility & Skills:
- Oversee all accounts, ledgers, asset register and reporting system, ensuring compliance with appropriate accounting principles, regulatory requirement, and audit requirement;
- Maintain internal control safeguards and coordinate all audit activities;
- Review and develop finance policies;
- Partner with CEO, IT and any necessary consultants to procure specialize finance IT system that can shorten the month end consolidation process;
- Manage month end and reconciliation process and prepare monthly reports to management team and the board, with KPI and commentary;
- Manage cash-flow and forecasting;
- Develop budgeting and the implementation of budgets so as to monitor the variance;
- Negotiate supply contracts for services rendered by the business, i.e. insurance review, utilities, merchant service etc;
- Knowledge and experience in using MYOB, Xero, Accredo, APS, Banklink and other accounting systems.
- Ability to lead and manage a small team;
- A high degree of organisation skill, and ability to prioritise task.
Making a Financial Turnaround When I joined the trust it was in severe financial difficulty, recording losses and showing a yearly negative equity. A new senior management team was formed to rescue the Trust. I am responsible for the Finance Team. The current result reflects the improvement over the last three years. The Trust is now trading with good profitability. Well managed cash flow has allowed borrowings to be extinguished. Equity shown in the balance sheet has become positive this year and is forecast to progressively increase.
Simplifying the Board Report The original monthly report was over 60 pages and is now down to one page. I added relevant KPI, commentary, graphs, all color coded for each business unit. The board is impressed. I also worked with a technician to create a script, so the report can be auto-generated from our accounting software.
Improve the process Simplify the month end and reconciliation process and saved about 30% of the time previously taken. The Auditor has given positive feedback on the quality and smoothness of the audit process.
Policies Review The Trust has 67 policies across Finance, HR, Governance, and Technology. With the support from CEO, I am responsible for reviewing all the policies, managing the consultation process and for the establishment of a regular review system. I have reviewed, rewritten, created over 30 policies and 70 associated forms and procedures.
Results Based Accountability™ (RBA) I am responsible for producing the RBA quarterly reports. “RBA is as an outcomes management framework to identify and work towards achieving results for communities and clients.” Basically to make the numbers tell the story.