Director of Finance & Operations

Employer
Impetus - Private Equity Foundation
Location
London (Central), London (Greater)
Salary
£88,500 per annum
Closing date
19 Oct 2020
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About Impetus

Impetus transforms the lives of young people from disadvantaged backgrounds by ensuring they get the right support to succeed in school, in work and in life.

We find, fund and build the most promising charities working in this area, providing core funding and working shoulder-to-shoulder with their leaders to help them become stronger organisations.

In partnership with other funders we help our charities expand and we influence policy and decision makers so that all young people get the support they need.

We work with over 20 charity partners and employ around 40 people.

About this role

The Director of Finance and Operations (DFO) ensures Impetus has the sound financial management and robust operations needed to deliver its mission, leading on all Impetus’s organisational budget planning and management, audit, compliance, human resources and infrastructure functions. They are a key member of our Senior Management Team and play a key role in strategic and operational decision making.

The DFO is responsible for developing and monitoring the organisation’s annual budget; undertaking forecasting and reforecasting as needed; ensuring that the organisation remains compliant in terms of both its finances and its operations; and practices inclusive, responsive human resources management.

The Operations team comprises the HR and Learning Manager, the Finance and IT Manager (a qualified accountant), the Executive Assistant to the CEO and a part-time Finance Assistant. Payroll and IT support are outsourced.

Impetus is a respected funder and influencer in education and employment work in the UK and this role offers great challenge and opportunity to shape the organisation as we implement our ambitious plans for growth in the coming years. Please join us and play a key role in building and developing our finance and operations function to enable Impetus to; grow its resources; deliver greater, more sustainable impact; and maximise its ability to influence.

About the finances

We’ve a group structure with a trading subsidiary (which hasn’t been active in recent years) and the Youth Endowment Fund (YEF) of which Impetus is the sole corporate trustee. Our consolidated accounts include Impetus, the trading subsidiary and the YEF (as a restricted fund). Separate accounts are also produced for the YEF as it’s a registered charity.

The turnover of Impetus (excluding YEF) is about £8m. Our reserves, all unrestricted, at the end of 2019 were £6.4m. The YEF received a £200m grant – to be spent over ten years - from the Home Office in 2019. The full grant was recognised as income in 2019 meaning that the YEF ended the year with reserves of £198m. Its expenditure from the Home Office grant will be about £15m in 2020 with increasing amounts in future years.

We have about £190m of YEF funds under management with Goldman Sachs.

Key responsibilities

  • Work with Impetus CEO and SMT to support the delivery of the Impetus strategy and business plan, deliver the Operations Team milestones to time and within budget
  • Providing good, timely financial information to the SMT, other budget managers and trustees, ensuring strong financial controls are in place and producing the annual accounts
  • Leading the budget process and helping colleagues with financial modelling and pricing
  • Working with our fund managers and investment committee to make the most of the Youth Endowment Fund investments
  • Making sure that IT works well for all staff and that Impetus keeps up-to-date in its use of technology and has a good level of cyber security
  • Helping to recruit and retain great staff and create an environment in which staff are well supported and can develop and progress
  • Ensuring the office and facilities function well and allow staff to focus on their work
  • Contributing to good governance including being the lead person supporting the Resources and Audit Committee
  • Making sure Impetus is getting value for money and procuring goods and services well
  • Engaging with the broader, strategic debate about the work of Impetus and opportunities available to it
  • Being a key point of reference on legal, contractual and regulatory issues
  • Being alert to the risks facing Impetus and the ways they can be mitigated.
  • Develop the competencies and capabilities of the Operations Team and ensure it continues to make a valuable - and valued - contribution to the achievement of Impetus’s objectives
  • Contribute to the successful performance of the Senior Management Team, and provide expert advice to them, as well as to Trustees, on all Finance and Operations -related activities and in the implementation of the broader strategy
  • As a member of the Senior Management Team, work with colleagues to promote, support and champion equality, diversity and inclusion across the organisation

Person specification

Essential

  • You are an experienced financial leader used to a range of responsibilities that go beyond the financial into areas of IT, HR and office management
  • You think strategically about operations and organisational needs in order to effectively manage change
  • You create outward looking, responsive operations teams
  • You are good at working with people across an organisation
  • You are a credible ambassador in the wider world, used to dealing organisations that support your organisation and being a public face for it
  • You want to make sure that staff are supported well by the IT at their disposal.
  • You look out for new developments that could help Impetus and are open to ideas from staff
  • You enjoy and have experience in identifying digital and new technologies to improve organisational systems and efficiency
  • You put in place clear HR frameworks and procedures which aren’t overly bureaucratic
  • You are enthusiastic about creating offices and facilities that work well for staff and allow them to focus on their work
  • You have worked with investment fund managers and investment committees
  • You have experience of group accounting
  • You are a member of one of the CCAB accounting bodies
  • You have a commitment to Impetus’ mission and work
  • You are committed to equality, diversity and inclusion.

Desirable

  • You have worked in small to medium sized organisations
  • You are familiar with the financial and regulatory requirements of the charity sector.
  • Understanding of, and/or lived experience of, the barriers that young people face, that contribute to the education and employment gap

We believe that a diverse workforce leads to an organisation that is more open, creative and gets better results.

We want our team at Impetus to represent the diversity of the people and communities we serve. We also want our team to be one where different experiences, expertise and perspectives are valued, and where everyone is encouraged to grow and develop.

We want to reach a diverse pool of candidates. We are happy to consider any reasonable adjustments that potential employees may need to in order to be successful.

We recognise the importance of a good work/life balance. We do everything we can to accommodate flexible working, including working from home, working part-time  job shares and other arrangements.

Please just let us know in your application or at any stage throughout the process (and beyond) if these are options you’d like to explore.

How to apply

Please send a comprehensive CV and supporting statement to recruitment@impetus.org.uk by Midday, Monday 19 October 2020. The supporting statement should be no more than two sides of A4 and should address the criteria in the person specification.

You should also include the contact details of two referees, one of whom must be your current or most recent employer. Referees will only be approached with your express permission. You will also be required to provide proof of your eligibility to work in the UK. As part of our commitment to flexible working we will consider a range of options for the successful applicant. All options can be discussed at interview stage.

First round interviews will take place week commencing 26 October 2020

Due to the large number of applications we receive, it is not possible to write to you should you not be shortlisted. If you have not heard from us within three weeks of the closing date, please assume that your application has not been successful on this occasion.

Your personal data will be shared for the purposes of the recruitment exercise. This includes our HR team, interviewers (who may include other partners in the project and independent advisors), relevant team managers and our IT service provider if access to the data is necessary for performance of their roles. We do not share your data with other third parties, unless your application for employment is successful and we make you an offer of employment. We will then share your data with former employers to obtain references for you. We do not transfer your data outside the European Economic Area.

Impetus is an equal opportunity employer and is determined to ensure that no applicant or employee receives less favourable treatment on the grounds of gender, race, age, disability, religion, belief, sexual orientation, or marital status. We value diversity and encourage applications from people of all backgrounds.

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