Job Title: Group Financial Controller
Reports To: C4 CFO
Department: Finance
Location: London
DEPARTMENT DESCRIPTION
Channel 4’s Finance team has a vision of being trusted advisors, supporting and informing decision-making through insightful analysis, expert opinion and timely and accurate reporting. Efficiently and effectively ensuring the sustainability of Channel 4 through a strong system of financial control and compliance.
JOB DESCRIPTION and PURPOSE
A unique opportunity to join a finance team that is transforming itself to provide strategic financial and commercial support that will underpin the successful execution of the Fast Forward Strategy. The successful candidate will be energetic, an excellent communicator and a credible leader.
The Group Financial Controller is part of the Channel 4 Finance senior leadership team;
1. Drives financial discipline ensuring strong financial controls alongside accurate reporting of all critical finance measures (BS, P&L, cash and KPI’s for actual performance against forecasts, budgets and Plans)
2. Accountable for the development and implementation of the financial, tax and capital frameworks that will underpin the Fast Forward Strategy
3. Identifies opportunities to simplify financial systems and processes, constantly innovating to improve the efficiency and effectiveness of the finance operating model
4. Leads on internal and external financial reporting processes to key stakeholders : internal stakeholders will include the CEO Committee, Executive Management Board, C4 Board, Board committees (Audit & Risk and RemCo) and key external stakeholders UKGI, DCMS and Ofcom
5. Act as a Deputy to the CFO as needed and works closely with the finance leadership team to transform the finance organisation, across all dimensions including people, systems and processes
6. Leadership responsibility for the shared service functions, based in Leeds, and the treasury & tax functions
7. Provides advice on financial, tax and treasury developments that may impact the future strategy of Channel 4
The Group Financial Controller has 4 direct reports across Management and Financial Accounts, Tax, Treasury and the shared service Transactions teams. The total team size is 35.
KEY RESPONSIBILITIES
Financial Reporting & Control
Deliver timely and accurate reporting to all stakeholders, including;
8. Leading the Financial and Management accounts teams to deliver the requirements as detailed in the finance reporting timetable:
9. Develop an effective and efficient month end reporting process adopting a mindset of continuous improvement and using automation where possible
10. Create high quality monthly Board and committee management financial reports
11. Provide information and analysis required for the performance updates for quarterly stakeholder meetings (including Ofcom, UKGI, the DCMS and the Shareholder Executive)
12. Lead on the internal year end process including critical accounting issues or judgments, relationship with external auditors (including Schedule 9), Audit Committee papers and the Channel 4 Annual Financial Statements, and presenting to the Audit Committee
13. Oversee the preparation of statutory accounts for all group subsidiary entities and all other statutory and regulatory returns
14. Manage the core financial control environment, including regular reviews of each business’s balance sheet within the group to identify any emerging issues
15. Provide regular updates and challenge to key control and reference documents including delegated authorities, invoice authorisations and Process and Controls
16. Track performance against agreed Remuneration Committee targets and contribute to pay review and variable pay proposals
With respect of FP&A, collaborating closely with the Head of Commercial Finance, specifically to:
17. Highlight and quantify the key risks and opportunities to be included when monitoring our rolling annual financial forecasts, Budgets and Strategic Plans
18. Contribute to the completion of the quarterly business performance reviews by the CFO
19. Support the review and completion of the financial analysis for the group including 12 month rolling cash forecast, Capex and fixed asset maintenance, channel profitability reporting and development of the performance reports
20. Work closely with the Head of Business Assurance on relevant reporting relating to the control and compliance environment of Channel 4, working to resolve and report on Internal Audit findings and provide information and updates for the Audit & Risk committee
Shared Service Transactions Teams (Leeds)
Responsible for the Leeds-based teams with the Head of Finance Shared Services as a key direct report. The teams comprise; Accounts Payable; Accounts Receivable; and Royalties
21. Review and continuously challenge the Corporation’s processes for processing invoices and paying suppliers and expenses so that these are efficient, effective and secure
Tax
Oversee small team responsible for executing all areas of business tax compliance and advice and ensure that all tax activities are in accordance with the Corporation’s tax strategy:
22. Manage the Corporation’s relationship with HMRC and low risk tax status
23. Oversee the tax compliance programme including direct and indirect tax returns and payments, including Corporation Tax, VAT and PSA, and the application of appropriate tax reliefs. Deliver annual Senior Accounting Officer certification process
24. Review of Tax Planning Strategy and management of any tax implications from the future business strategy, including the identification of new tax opportunities
Treasury
Oversee key controls required to manage cash effectively including daily cash flow and dealing, bank reconciliations and investment strategy in line with the group’s financial strategy:
25. Oversee the maintenance and utilisation of the revolving credit facility (RCF) and monitoring related covenants (financial and ESG)
26. Manage current and future working capital facilities and identify ways to manage and mitigate seasonal swings in liquidity
27. Overall responsibility for treasury procedures in line with Treasury Policy and development of the Policy
28. Deliver the weekly 13 Week Rolling Cash Report and coordinate with the FP&A team to ensure these are reflected in the periodic FY forecasts and budgets
29. Develop and maintain key banking relationships
Financial Systems
Responsible for championing the core systems required to enable the financial reporting of Channel 4, ensuring they are adequately supported and enhancements strategically planned for, including:
30. Actively identifying opportunities for automation and removing friction by improving the use of systems
31. Developing effective working relationships with the Financial System transformation lead and the relevant persons within the Technology team
People Leadership
Provide leadership and direction to the finance team. This includes playing a lead role in developing the finance capability:
32. Foster a culture of learning and development for the team, ensuring each team member is set up for success (objectives, development plans etc)
33. Play a lead role in attracting diverse finance talent to Channel 4 – role modelling finance values and behaviours internally and externally
34. Set clear expectations for the team, empower them to deliver and create a supportive environment for success
QUALIFICATIONS AND EXPERIENCE
35. Qualified Accountant with at least 10+ years’ post qualified experience
36. Comfortable working in a highly results focused, complex creative organisation, undergoing significant transformation
37. Excellent experience of leading teams and developing talent, with the ability to delegate and manage effectively
38. Significant Controller level experience of Management and Financial reporting, including responsibility for leading the audit and completion of Statutory Accounts
39. Proven experience of building excellent working relationships with a broad range of senior executives
40. Excellent communicator (written and verbal), with the ability to present credibly to a range of stakeholders: internal & external – including the Channel 4 Board
41. Strong analytical skills; with excellent attention to detail – with the ability to flex quickly between the big picture and the detail.
42. Well organised and comfortable working across multiple areas, flagging the important issues and risks in a timely manner
43. High levels of personal credibility, professionalism and ethical standards
44. Be committed to and aligned with the Channel 4 remit
45. Previous media/advertising/creative industry experience preferred
Hybrid Working:
From September 2023, C4 has operated a 60/40 working pattern, equating to three office days per week.
Having everyone in the office three days a week gives us more opportunity to build our high performing, inclusive culture; to collaborate and to learn and share with each other, as well as helping to coordinate a regular pattern of home and office working days.
Employees then have the flexibility to decide where they spend the rest of the working week.
All our offices are open five days a week.