JOB OVERVIEW

This role is responsible for the smooth running of all aspects of the finance operations functions at The Place (i.e. accounts payable and accounts receivable), as well as ensuring all Office for Students data returns are submitted in a timely manner. This post holder will delegate to and oversee the work of our Student Finance and Data Officer and Finance Assistant, with assistance from finance trainees from time-to-time. The role requires excellent organisation and communication skills, an ability to build relationships across the business and should provide a customer-focused, professional, and efficient service to internal and external stakeholders. 

SALARY & CONTRACT TERMS

SALARY

The salary for this position is £35,643 per annum.

Salaries are reviewed in August each year when any cost-of-living increases are made. No salary changes are made until after successful completion of a probationary period.

CONTRACT TERMS

This is an open-ended, permanent contract. This is a full-time position (equivalent to 40 hours per week). These hours are inclusive of a one-hour paid lunch break each day. Your hours of work will be agreed with the line manager.

Whilst in the six-month probationary period the notice period will be two weeks. Once this period is successfully completed the post holder will be confirmed in the post and the notice period will be eight weeks.

CLOSING DATE

The application closing date is Thu 05 Feb 2025 at 12:00pm (noon). We reserve the right to close applications early depending on the volume of applications we receive and so we advise it is better to apply early.

For an informal chat about this role to answer any questions you may have before applying, please email Caroline Busby, Chief Financial Officer.

INTERVIEW DATES

We anticipate that interviews will be conducted on Thu 13 or Fri 14 Feb 2025, either in person at The Place or remotely via Microsoft Teams (or similar platform as necessary). Interview dates may be subject to change.

PERSON SPECIFICATION

ESSENTIAL CRITERIA

KNOWLEDGE

• Good understanding of accounts payable and accounts receivable processes.

SKILLS

• Strong skills in using Microsoft Excel.
  

EXPERIENCE AND QUALIFICATIONS

• Experience working in finance operations.
  
• Experience working with accounting software with a good understanding of system setup and structure.

ATTRIBUTES AND PERSONAL CHARACTERISTICS

• Organised.
• Flexible.
• Excellent time management skills with ability to meet strict deadlines.
• Excellent communication skills.

DESIRABLE CRITERIA

KNOWLEDGE

• Understanding of charity accounting.

SKILLS

• Ability to use Unit4 or similar accounting platform.
  

EXPERIENCE AND QUALIFICATIONS

• Studying for an accounting qualification.
  

ATTRIBUTES AND PERSONAL CHARACTERISTICS

• Interest in the arts sector.

KEY RESPONSIBILITIES

SALES INVOICING

• Oversee all invoice requests/sales orders received from London Contemporary Dance School (LCDS), Centre for Advanced Training (CAT), Theatre and Artist Development (TAD) and Studio Hires, ensuring they are processed accurately and within a timely manner, and are allocated to the correct budgets and with the correct VAT treatment.
• Act as the central contact for all income enquiries with customers maintaining excellent relationships and answering queries ensuring prompt payments are received.
• Ensure income is recognised correctly, as directed by the Finance Business Partner or the Chief Financial Officer, and as per terms of the contract (deferring income if required).

STUDENT INCOME OVERSIGHT

With the assistance of the Student Data and Finance Officer, oversee all the finance operations and data reporting tasks for LCDS and the CAT Programme: 

• Ensure all students are properly invoiced and registered, and fees received are reconciled regularly to minimise bad debts.
• Ensure the smooth running of all US Loan students, including upkeep of loan schedules, allocation of loans and supporting annual audits.
• Act as the named person for administering fund with the US dept of education. 
• Manage student debt, ensuring payments are received in a timely manner, producing a list of debtors for the Senior Management Team (SMT) monthly or more frequently when required.
• Monitor and control all tuition deposits, arrange refunds or allocate tuition fees when necessary.
• Manage LCDS loans/advances to students, but in particular their repayments and linking these to any Student Fund award so that no award is made where the student owes the school money.
• Manage all bursaries or award schemes.
• Support the school office with allocations and decisions for awards, making payments and ensuring that all funds are accurately reconciled and reported.
• Manage and process any income or grants received to support LCDS and CAT students, and ensure this is allocated correctly in line with the terms of the grant agreements.
• Assist in reporting student numbers and income to relevant bodies, ensuring a truthful representation that reconciles to School Office returns.
• Prepare cash and income forecasts for all tuition income for monthly management accounts and budgeting.
• Ensure all data returns to HESA and Office for Students completed on time. This includes preparation of the Student data return (Data Futures) and HESES return, working with the School Office, HR and Chief Financial Officer on other HESA returns.

CREDIT CONTROL

• Monitor debt on a regular basis ensuring that payments are chased regularly to ensure that cash is received promptly, working with those that raise invoices to resolve queries as quickly as possible.
• Issue a monthly debtors’ breakdown for the Management Accounts and SMT.
• Review debt position with the Finance Business Partner and Chief Financial Officer monthly.

THEATRE AND BOX OFFICE RECONCILIATIONS 

• Post accurate box office income, using ticket software reports, deferring income as required.
• Ensure settlements with producers are reconciled and paid in a timely manner and within terms of the agreement.
• Reconcile Theatre control accounts.
• Post and reconcile Spektrix income and costs, and ensure manual payments and refunds are correct.

ACCOUNTS PAYABLE

• Oversee the Accounts Payable process and manage the accounts payable process with the assistance of the Finance Assistant and Finance Trainee.
• Manage and coordinate all aspects of the purchase ledger including: posting of invoices, supplier management, all payment runs for suppliers, staff and student expenses, direct debit, and credit cards.
• Assist with resolution of queries from suppliers and with the business.
• Support Finance Assistant with management of petty cash, floats and advances.
• Ensure all VAT is treated correctly.

BANK RECONCILIATIONS OVERSIGHT

• Support the Finance Assistant to ensure all income and expenditure is posted to the ledgers and reconciled, as part of the month end timetable.
• Ensure the banking of cash and cheques is completed regularly and posted correctly.

FINANCIAL AND MANAGEMENT ACCOUNTING

• Prepare and coordinate the month end timetable.
• Assist with preparation of Management accounts where necessary.
• Reconcile all income control accounts, ensuring all income is recognised in the correct financial period and deferred where necessary.
• Reconcile and monitor restricted funds, and release where appropriate.
• Reconcile all expenditure control accounts, including payroll and capital.
• Assist in preparation of Annual Financial Statements and support the annual audit process.

CAT BUSINESS PARTNERING

• Act as the finance business partner for CAT, support the CAT Senior Manager and wider team with financial and administrative processes, financial reporting, budgeting, and forecasting, ensuring the smooth running of the department and accurate financial management.
• Ensure all Music and Dance Scheme (MDS) Grant income is correctly posted and recognised properly and ready for audit.
• Support the CAT team with financial policies and procedures for students, including the distribution of student expenses.
• Be responsible for the MDS Means Testing process, ensuring it is accurate and claimed correctly in line with Department for Education guidelines.
• Work with CAT Senior Manager and external auditors to ensure documentation is submitted on time to MDS for the annual audit requirements.

SYSTEMS AND PROCESSES

• Act as the Administrator for the Unit4 system, with oversight for the system setup and leading on change projects to improve efficiencies.
• Act as the Superuser of Unit4, providing support and training to Finance and other users.
• Hold ownership of Unit4 setup, including the setup of new project codes, cost centres, GL (General Ledger) codes, and managing workflow rules.
• Manage Users on Unit4, and work with the providers to resolve any problems with the system.

OTHER DUTIES

• Provide information for theatre tax relief as required.
• Complete HMRC returns as required.
• Undertake ad hoc analysis as required/directed by the Finance Business Partner or the Chief Financial Officer.
• Support the Finance Assistant, Student Finance and Data Officer, and Finance Trainee with day-to-day tasks, delegating tasks as appropriate, assisting with any issues and problems, and provide training and support.
• Line manage the Finance Trainee and Student Finance and Data Officer.
• Build good communication channels with the rest of the Finance Team and share information which is relevant to your role and their roles to be able to provide cover in case of absence within the team.
• Undertake ad hoc general administration and finance and operations projects to support the Chief Financial Officer. This may include arranging meetings, taking notes from meetings and following up on actions.
• Any other tasks that may be reasonably requested by the Chief Financial Officer.

HEADER PHOTO CREDIT

THE RITE OF SPRING by Seeta Patel | 2019 | Photo by Foteini Christofilopoulou