Group Accountant

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Volex PLC

Volex is an established manufacturing company headquartered in central London and listed on the London Stock Exchange with manufacturing facilities across the globe.  With over a hundred years of experience in supplying power products, Volex is now one of the world’s top two power cord manufacturers and also has a niche position in the supply of data cables to the telecoms / datacoms and healthcare markets.  With a customer base that includes many of the leading electronic manufacturing names, Volex products are essential in our day to day lives.

Having gone through significant restructuring over the past three years, the new executive management team (led by the Group’s largest shareholder) are enthusiastic about the future ahead.

Position Overview (salary up to £70k): 

Supporting the financial controller, you will help define and implement the group wide financial control environment.  You will take responsibility for the monthly multi-currency consolidation and preparation of the monthly management accounts ensuring that these properly represent the financial status of the business, are efficiently and accurately produced on a timely basis and are in full compliance with all legal, fiscal and accounting requirements.  Further at year end, you will be the primary point of contact for the external auditors and help prepare the statutory consolidated financial statements of Volex plc.  

Principal Duties and Responsibilities

Business Operations

  • Responsible for the monthly results and balance sheet of the Volex plc corporate entity.  Transactions are processed by the shared service centre in Poland and these are reviewed as part of the month end process.
  • Contribute to defining and managing the monthly group financial reporting processes and timetable to ensure that the financial statements are complete, accurate and timely.
  • Consolidate a complex group structure comprising over 30 legal entities spread across over 20 countries and multiple currencies. Ensure reporting framework can accommodate reporting by division, as well as traditional legal entity, regional view.
  • Review & understand trading performance reflected in the Statutory & Management Accounts, including actual vs budget vs LY variance analysis. Highlight & explain issues, estimates, matters of judgement or subjectivity and risks & opportunities and provide ideas for resolution.
  • Promote, enhance and maintain Tagetik, the group’s reporting and consolidation tool for all financial and associated information.
  • Process non-routine accounting entries at group and Plc level (e.g. pensions, write-offs, provisions, stock option costs, management charges, group level bonuses etc.
  • Liaise with Tax to ensure their needs are accommodated in Financial Reporting and work with them in achieving some of the wider Group Finance Objectives (eg successful effective tax rate (ETR) management).
  • Liaise with external auditors and ensure Volex secures an unqualified audit opinion and that the half year and full year accounts are finalised within the tight reporting deadlines required of a quoted company, including drafting of relevant sections of the AR.
  • Consolidate and provide narrative to the 12 week Group short term cash flow forecast that is supplied to the banking syndicate.
  • Work with the Group FC and Company Secretary to ensure compliance with all UK Listing Authority rules and regulations.
  • Ensure that all UK and overseas statutory accounts are completed on time.
  • Help develop, communicate and enforce appropriate group accounting policies and practices.
  • Assist Group Financial Controller in ensuring appropriate internal control frameworks operate across the group and assist in promoting best practice among Volex management.
  • Liaise with external advisors (investment bankers, lawyers and reporting accountants in connection with corporate activities such as fund raising, acquisitions, disposals and re-organisations) as required.
  • Develop good working knowledge on BPCS (Group ERP system) and Qlikview (Group BI tool) and then play lead role in championing effective use of these systems throughout organisation.
  • Support the annual insurance review process, consolidating financial figures required for the setting of annual premiums.
  • Support ad-hoc projects as required by the executive management team.

Leadership

  • Willing and able to take a proactive and authoritative role (at all levels of the organisation) with regard to any issue that impacts upon or is impacted by their area of responsibility. In particular they must proactively lead & engage the finance teams in the regions to produce a stable platform for Group Reporting and enable the timely provision of quality Financial Information to the Executive Management Team and the overseas based Finance managers.

Relationship Management

The Group Accountant must :

  • Develop close and effective working relations with the regional finance teams and the head office based executive team (Executive Chairman, CFO).
  • Help manage and support the Group Systems Accountant.
  • Manage the Polish shared service centre contact responsible for the accounting for the Volex plc entity.

Market Environment

The Group Accountant must ensure that they keep fully aware of external developments that may impact upon the execution of their responsibilities such as developments in accounting standards, compliance matters and company law.

Main Job Requirements

Education

  • University Degree                                                                                                 Required
  • Qualified Accountant, preferably ACA                                                              Required

Experience

  • At least 2 years relevant experience, post qualification,                                                                                                                                                         in professional services or similar position within industry                           Required
  • Experience of multi-currency consolidations                                                    Required
  • Experience with listed company reporting requirements                                Required
  • A company with a global manufacturing footprint                                           Preferred

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