Description
FINANCE TEAM
As part of the Finance Team, we are responsible for all the nitty gritty – that means, producing timely financial information and reports across the business as we cover some of the most iconic racing events in the history of British motorsport, including the Formula 1 British Grand Prix, MotoGP British Grand Prix and the largest historic race festival, the Silverstone Classic.
We support all areas of the business including the Corporate Events team, drive experiences, partnerships & sponsorships, track hire, catering and merchandising. Supporting all business functions with accurate and timely reporting is an essential part of the finance function and is therefore a truly unique and exciting opportunity for a driven finance individual.
JOB PURPOSE
All internal management reporting, including month-end accounts, annual budgets and monthly forecasts, is prepared to a high level of accuracy & robustness, and to the timescales required by the business.
All external reporting is prepared to a high level of accuracy, in accordance with applicable accounting standards and to the statutory deadlines.
The balance sheet accounts have integrity and that appropriate financial controls are in place across the business.
The daily transactional processing is maintained in a complete, accurate and up-to-date manner by supporting the work of the Transactions Team.
Management is regularly updated with financial issues relevant to the business, including both internal (e.g. fraud / control weaknesses) and external (e.g. compliance / regulatory) risks.
Key Responsibilities
* To support the year-end statutory audit process by providing complete, accurate and timely responses to the auditors as requested.
* To prepare the month-end management accounts for assigned SCL departments in an accurate manner and to the internal deadlines set.
* To analyse the actual monthly P&L results and to understand key variances to budget and to the prior year.
* To support departments in preparing their quarterly P&L forecasts and annual budgets by providing financial information and by reviewing the proposed figures for reasonableness.
* To prepay / defer future costs in a complete and accurate manner and to support the process of reconciling the balance sheet accounts for these costs.
* To accrue committed costs in a complete and accurate manner and to support the process of reconciling the balance sheet accounts for these costs.
* To ensure that revenue is recognised in the month in which the corresponding good or service is delivered and to provide supporting evidence for the reported revenue figures, e.g. sales invoices, ticketing reports, event lists.
* To ensure that future revenues are deferred for future months in a complete and accurate manner and to have a robust understanding of the deferred revenues for assigned SCL departments.
* To review accrued purchase orders each month to identify potential orders that are no longer required and can be released.
* To ensure that departments have a robust knowledge of the purchase ordering process such that genuine purchase orders are not omitted from the reported results.
* To ensure that the reconciliation between stock recorded on the balance sheet and physical stock recorded on stock system reports is updated monthly and any material variances investigated.
* To support the Transactions Team with their regular workloads, e.g. processing cash transactions, raising ad-hoc sales invoices, resolving purchase invoice queries etc.
* To attend regular departmental meetings & to offer financial guidance where appropriate.
* To provide accurate and timely analysis of existing business activities and assist in preparing financial information for new or proposed product offerings.
* To identify and escalate financial issues, e.g. with business systems, financial processes etc, in a complete, accurate and timely manner.
* To approve third party payments on the banking systems by checking the accuracy of the payment details input and by raising reasonable queries in a prompt manner.
* To provide cover for other team members as necessary.
TEAM RESPONSIBILITIES
o To work as part of the team to develop and mentor others and to support workloads to ensure the commercial and operational success of the events.
o Create a positive, proactive culture and environment within the department.
o Promote at all times the professional image of the company by ensuring high standards of both professionalism and personal presentation.
PERFORMANCE RESPONSIBILITIES
Performance will be monitored against the following:
o Objectives set through the Personal Development Review (PDR) process
o Ownership and completion of agreed business priorities in a timely manner
o Teamwork
KEY RELATIONSHIPS
o Other finance team members
o Wider Silverstone team
Skills, Knowledge and Expertise
o Highly numerate
o Ability to completely & accurately follow accounting procedures
o Well-organised and able to work to deadlines
o Good communication skills, including written English
o Strong written skills
o Computer literate (Work, Excel, Teams, Sharepoint and Outlook)
o Knowledge of accounting systems desirable, but not essential
We’re Silverstone, the UK’s leading motorsport venue for over 60 years. You probably know us as the hosts of world-class events, such as the Formula 1 British Grand Prix, MotoGP™ and Silverstone Festival.
As a true, one-of-a-kind destination, we make people feel the thrill on and beyond the track. From unforgettable business experiences at our International Conference & Exhibition Centre, to unique getaways and iconic trackside views at Escapade - we work hard to ensure each and every one of our visitors can see our personality, touch our legacy and hear our heartbeat around every single corner. And we want you to be a part of it.