Financial Reporting Manager

University of Glassgow
December 01, 2022
Contact:N/A
Offerd Salary:£46,047 - £53,353
Location:N/A
Working address:N/A
Contract Type:Open-ended
Working Time:Full time
Working type:N/A
Job Ref.:N/A
Financial Reporting Manager

Job Purpose

Ensure the accuracy of the financial accounting for the University and its subsidiaries Act as the technical expert within the Group on all financial accounting matters, sharing knowledge and training with others across the Group where required.

Continuously improve processes and procedures to support the efficient and effective operations within a strong internal control environment.

To provide high quality professional and specialist support across the Group through analysis and issue resolution.

To support and develop enhanced liaison between the central Finance Office, Colleges, ensuring accurate, timely, relevant and reliable information allowing delivery of a customer service focus. Lead and line manage a team of 2 to deliver on all financial accounting matters.

Main Duties and Responsibilities

1. Preparation of the Annual financial statements for the University

  • Prepare the annual financial statements for the University. This is the key document that is published externally by the Finance department and the compliance and accuracy of the financial statements is key to the funding available to the University on an ongoing basis
  • Prepare the consolidation schedule for the University and the subsidiary accounts
  • Responsible for liaising with the University's actuaries to ensure correct pension accounting adjustments and disclosures are included in the financial statements
  • Manage, monitor and maintain all necessary schedules to support the figures contained within the financial statements to satisfy accuracy and fulfil external audit requirements
  • Apply specialist and technical expertise to ensure that the financial statements are accurate and reflect correctly the reality of how the University has performed over the prior year
  • Liaise with the audit team to ensure progress is maintained in a timely manner and follow up with colleagues as required to close off any outstanding points
  • Responsible for understanding the impact of any changes in Financial Reporting Standards or requirements and ensuring these are delivered in a timely, accurate and efficient manner
  • Plan and organise the year end timetable and ensure all actions are carried out in a timely manner. Use professional judgement to adapt the timetable where necessary and add further checks to ensure the accuracy and timely delivery of the statutory requirements
  • Identify any changes to accounting policies which require approval from Finance & Audit committee
  • Timely Submission of signed financial statements and other documents to the Scottish Funding Council
  • 2. Preparation of US GAAP Financial Statements

  • US GAAP accounts must be prepared accurately and in a timely manner to comply with US student funding requirements.
  • Use professional expertise to ensure an up to date understanding of US GAAP requirements and consequently the adjustments required. Have the technical knowledge to identify when changes are required to the adjustments
  • Complete the conversion of the Financial Statements to US GAAP
  • Liaise with external audit to ensure all supporting schedules are provided to satisfy their requirements
  • Responsible for the submission of the accounts and the supplementary schedule to the US Dept of Education
  • 3. Preparation of External Returns

  • Responsible for the preparation of the following returns within the timeframes required
  • Office of the Scottish Charity Regulator (OSCR)
  • National Statistics
  • 4. Manage month end for Financial Accounting

  • Responsible for ensuring balance sheet reconciliations are prepared and reviewed on time by the appropriate individuals
  • Hold meetings to challenge adjustments by Colleges and finance teams
  • Prepare minutes / actions and follow up when required
  • Prepare monthly balance sheet commentary for review by the Deputy Director of FInance
  • 5. Responsible for the University's Fixed Asset module

  • Reconcile the general ledger to the FA register on a monthly basis
  • Capitalise equipment / new capital projects which have been completed in month
  • With the University currently undertaking a campus development plan with planned capital expenditure of c.£530m this is an area where increased controls and scrutiny will be key
  • Run depreciation monthly for the University and the UOG Utilities Supply Company Ltd
  • Review open orders on equipment under construction
  • Prepare annual depreciation forecast for budget setting purposes
  • Liaise with Colleges and Estates & Commercial Services as required
  • 6. Ad hoc project work

  • This project work will be essential to ensure the accuracy of the financial statements across the colleges and Central University Services
  • Use judgement and professional expertise to make recommendations to the Financial Reporting, Tax and Treasury Manager and the Deputy Director of Finance as to the project work which requires to be undertaken to improve the efficiency accuracy within the finance ledger
  • Contribute to project work which will drive forward strategic benefits for the University and use financial data to demonstrate the conclusions
  • 7. Lead and manage the Financial Reporting team members

  • Lead, motivate and develop the Financial Reporting team members. In doing so promote a continuous improvement approach, ensuring that the team applies appropriate professional standards and demonstrates a culture of ownership and accountability to ensure the delivery of excellent services
  • Knowledge, Qualifications, Skills and Experience

    Knowledge/Qualifications

    Essential:

    A1 Professionally qualified Chartered Accountant

    A2 Ordinary/Honours Degree (SCQF Level 9, 10 or 11) or equivalent

    A3 Strong up to date knowledge of the technical accounting environment in the UK

    A4 Knowledge of best practice within the Financial Reporting area

    A5 Strong technical accounting knowledge

    Skills

    Essential:

    C1 Excellent planning and organisational skills

    C2 Ability to prioritise workload to deliver to tight deadlines and manage competing demands from various stakeholders

    C3 Ability to identify control weaknesses and recommend and implement solutions to resolve these areas

    C4 Ability to apply intellectual rigour and analytical insight to support qualitative decision – making

    C5 Highly effective oral and written communication and interpersonal skills with the ability to challenge assumptions and practices with diplomacy

    C6 An ability to demystify complex financial concepts for non-financial colleagues

    C7 Resilient and able to effectively deal with ambiguity and able to maintain momentum in the face of obstacles/setbacks

    C8 Advanced skills in the use of Microsoft packages such as Excel, Word, Visio, PowerPoint; and accounting software packages

    C9 Strong attention to detail

    C10 Team working skills

    Experience

    Essential:

    E1 Significant professional experience as a Chartered Accountant

    E2 Experience of a complex organisation with a large volume of transactions

    E3 Experience of producing statutory accounts and associated external returns

    E4 Experience of group accounting and consolidation

    E5 Experience of documenting procedures and financial controls

    E6 Experience of working to tight deadlines

    E7 Demonstrable experience of continued professional development

    Desirable:

    F1 Experience in preparing statutory accounts for Charities

    Terms and Conditions

    Salary will be Grade 8, £46,047 - £53,353 per annum.

    This post is full time and open ended.

    As part of Team UofG you will be a member of a world changing, inclusive community, which values ambition, excellence, integrity and curiosity.

    As a valued member of our team, you can expect:

    1 A warm welcoming and engaging organisational culture, where your talents are developed and nurtured, and success is celebrated and shared.

    2 An excellent employment package with generous terms and conditions including 41 days of leave for full time staff, pension - pensions handbook https: // www. gla.ac.uk/myglasgow/payandpensions/pensions/, benefits and discount packages.

    3 A flexible approach to working.

    4 A commitment to support your health and wellbeing https: // www. gla.ac.uk/myglasgow/staff/healthwellbeing/.

    We believe that we can only reach our full potential through the talents of all. Equality, diversity and inclusion are at the heart of our values. Applications are particularly welcome from across our communities and in particular people from the Black, Asian and Minority Ethnic (BAME) community, and other protected characteristics who are under-represented within the University. Read more on how the University promotes and embeds all aspects of equality and diversity within our community https: // www. gla.ac.uk/myglasgow/humanresources/equalitydiversity/.

    We endorse the principles of Athena Swan https: // www. gla.ac.uk/myglasgow/humanresources/equalitydiversity/athenaswan/ and hold bronze, silver and gold awards across the University.

    We are investing in our organisation, and we will invest in you too. Please visit our website https: // www. gla.ac.uk/explore/jobs/ for more information.

    Vacancy Ref : 102788 Close Date : 01-Dec-2022 23:45

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