Appointment of the Director of Finance Operations

University of Bath

Welcome

Dear candidate

The University of Bath is one of the most innovative and high performing universities in the UK.

The Director of Finance Operations role will be responsible for a team of c30 staff and has responsibility for transactional processes, the control of assets and liabilities, and statutory and regulatory compliance. The successful candidate will ensure that these functions perform effectively and will have a clear line of sight on the external environment for changes in regulation and best practice and how that translates to our needs. The role is a key member of the Finance and Procurement leadership team, with co-responsibility for ensuring that the department runs effectively.

We are seeking to appoint a candidate with significant experience in a senior finance leadership role in a large and complex organisation. You will be able to talk us through your track record of success in delivering high-quality financial processes and reporting, managing financial controls and statutory reporting. As an experienced leader of others, you will understand what it takes to manage significant finance projects and change programmes whilst building a high performing and inclusive culture.

This role is set in the context of challenging times for universities, with increased competition for students, and a rising cost base which affects the organisation, students and staff.  This is a strategic role and is part of a wider move to increase our capacity to engage in high value projects and initiatives.  We have recently invested in a new role of Head of Financial Operations, which reports to the Director of Financial Operations. Some of the areas that this role will be part of include:

  • Supporting the University to innovate and grow, while minimising its exposure and risk.
  • Developing innovation and improvement in business processes and systems development, to support the University to innovate and change, and bring efficiencies in terms of costs.
  • Strategic developments with pensions including the Universities Superannuation Scheme, the LGPS scheme (which is closed to new members) and a defined contribution scheme.
  • VAT/tax planning in relation to the capital works, supported by our external tax advisors.
  • Due diligence and funding options for a new 900 bed student residence project including VAT planning.
  • Embedding a new wholly owned commercial subsidiary, IAAPS which is a world-leading centre of excellence in collaboration of industry, enterprise and academia, supporting the transport industry in the transition to net zero.
  • Team development and succession planning.
  • Developing strong and deep relationships across the University and in regional and national networks.

We are a people-focused workplace with a variety of flexible working options. We provide a great selection of employee benefits as well as plenty of opportunities for personal and career development. Above all that, you will be integral in helping us achieve our mission to deliver world-class research and teaching, educating our students to become future leaders and innovators. And to benefit the wider population through our research, enterprise, and influence.

I do hope you will express an interest in joining us. You can find more information about the role and how to apply on this website. Our advising consultants at Anderson Quigley would be pleased to discuss the role with you in confidence – their details can also be found on this site.

Martin Williams
Director of Finance

About the University

Fifty years of achievement have seen the University of Bath grow into a globally recognised institution with over 19,000 students from 147 countries. We believe in offering our students a well rounded education: high quality teaching from research-led academics; placements as an integral part of our undergraduate courses, in turn supporting strong employability; a substantial and growing range of options for post-graduate study; and extra-curricular activities such as our award winning sports facilities. The result: a very engaged, high-quality student body with strong values, impressive achievements, and excellent levels of student satisfaction.

Ours is a learning community, as students and academics work closely together in education and research. While this is frequently a transformative experience for students, the reach is very much wider, contributing to local and global understanding of the world in which we find ourselves. Our academics collaborate across traditional and emerging subject areas so that our research has practical applications with social and economic benefit. We continue to invest in new facilities and people to grow the impact of our research. We make a positive contribution to our community and the vigour of our local economy, accounting for around £380 million Gross Value Added (GVA) in Bath and North East Somerset and £1.2 billion to the UK. We work closely with globally recognised as well as small and specialised industrial partners and our Innovation Centre grows new businesses.

We are a vibrant, close-knit, intellectual, cultural, sporting, and social community who are proud of what we do and who we are, committed to using our skills and expertise to discover and solve real world problems. From the beginning, the University was designed to be different, innovative, and inclusive.

Our compact campus provides a sense of community which underpins our commitment to collegiality. A lively, international, and impactful alumni community helps us reach out into the world. Linking with partners who are both national and international, industrial, and social, this is a place where social sciences, humanities, the arts, engineering, and the broader sciences, come together to benefit wider global society.

The University of Bath is known as an innovative leader in all areas of student experience, teaching and learning, research, and international profile:

  • Named the University of the Year by The Times and The Sunday Times Good University Guide 2023.
  • Ranked 8th best university in the UK by The Times and The Sunday Times Good University Guide 2023.
  • Ranked 7th best university in the UK, and 5th for career prospects after 15 months, by the Guardian University Guide 2023.
  • Ranked 8th best university in the UK in the Complete University Guide 2023.
  • Ranked 9th in The Times Higher Education ‘Table of Tables’ 2022.
  • Placed in the Top 100 of the international QS Graduate Employability Rankings 2022.
  • 86% for overall student satisfaction in the National Student Survey 2022. This means we’re ranked 1st in England and 3rd in the UK when comparing institutions listed in the Guardian University Guide.

A snapshot of areas of innovation across the University includes:

Based at the Bristol Bath Science Park, the Institute for Advanced Automotive Propulsion Systems (IAAPS) will be industry focused and compete on a global scale to support the UK in delivering transformational research in the years to come. Combining the world’s best engineers with industry, underpinned by a track record in expertise and delivery from the University of Bath, IAAPS can help deliver the vehicles of the future, securing jobs and investment.

The Milner Centre for Evolution brings together our intellectual expertise in evolution research in this state-of the-art research facility. This Centre asks the big evolutionary questions, finds new technological and clinical research applications, and takes evolutionary research into the community.

Led by the University of Bath, The Institute of Coding brings together universities, large corporates, small and medium sized enterprises, established industry groups, experts in the delivery of distance and non-traditional learning and professional bodies to develop and deliver innovative, industry-focused education across the UK.

A new high-profile International Olympic Committee (IOC) Research Centre to focus on injury prevention in sport will be based at the universities of Bath and Edinburgh. For over a decade, the University of Bath has been leading ground-breaking research to improve player safety in rugby. Major projects completed with England Rugby and World Rugby directly informed scrum law changes. Most recently, its development of the injury prevention programme, ‘Activate’, led to its global roll-out by World Rugby.

University strategy

Our five-year University Strategy, ‘Our University, Our Future: Connected’ has four pillars: fostering an outstanding and inclusive community; driving excellence in education; driving high-impact research; and enhancing strategic partnerships.

For more information, please visit The University of Bath Strategy 2021 to 2026.

The role

Director of Finance Operations (AQ2101)

Apply now

Job title: Director of Finance Operations
Department/School: Finance and Procurement
Grade: ALC6
Location: Virgil Building, Manvers Street, Bath
Job purpose: The University has a turnover of c£350m and a net asset value of c£700m. It employs over 3,000 staff in 3 academic faculties, one school and professional and support service departments. The Finance and Procurement Office is responsible for managing the University’s income, expenditure, financial performance, and procurement processes ensuring value for money in its financial activities. In addition, the department provides high quality management accounting support as well as compliance with statutory and regulatory bodies.

The Director of Finance Operations is a critical role in the running of the department and the University’s finances with responsibilities for transactional processes, control of assets and liabilities as well as statutory and regulatory compliance. The role will ensure that these functions perform effectively and will monitor the external environment for changes in regulation and best practice. The role is a key member of the F&P leadership team and in ensuring that the department runs effectively.
Source and nature of management provided: Director of Finance
Staff management responsibility: 3 Direct and c30 indirect – see organisation chart here.
Special conditions: The role is 1 FTE and we anticipate a flexible hybrid working pattern as the role will require attendance on campus as well as the F&P Offices in the city.

 

JOB DESCRIPTION

Main duties and responsibilities

Leadership & Management

  • To lead and manage the teams in your area of responsibility (see org’ chart) to ensure that they:
    • operate effectively and efficiently
    • provide a good service to University and external clients
    • engage proactively with internal and external clients as required
    • provide suitable controls over University assets and liabilities
    • comply with relevant internal and external regulations
    • maintain and develop the skills needed for the Univerity’s and their own development
  • To take a lead role in the development of the department and University finance processes. This role will work closely with the Director of Management Accounting and Head of Procurement in developing the departments annual and longer terms plans and will be responsible for preparing the annual planning returns.
  • To regularly attend, prepare papers and present to Finance Committee, Audit and Risk Assurance Committee and attend other governance meetings as required. To attend and present to executive/management meetings as required.
  • To manage the Investment sub-Committee, planning its work, presentations and the relationship and interaction with Mercer (investment adviser) and Fund Managers (various).
  • To deputise for the DoF at meetings and for other duties as required.

Financial Systems/Processes

  • To maintain and develop robust financial accounting.
  • Lead the development and implementation of new and existing administrative financial controls and system developments to support the strategic aims of the University and F&PO function.
  • Standardise processes and systems as far as possible across to minimise the use of different systems. Set development priorities based on business case submissions and resource availability.
  • Ensure that there are effective and efficient transaction processing arrangements for payments to suppliers, students and staff, income collection and overall cash management.
  • To ensure that the financial and relevant legal agreements are in place for subsidiary companies. To ensure that consolidation, accounting and tax arrangements are in place and regularly monitored for effectiveness and efficiency.

Treasury, Investment & Debt Management

Responsible to the DoF for all Treasury Management policies and processes including:

  • Management of cash and liquidity to ensure funds are available as needed and that short-term cash returns are maximised consistent with the Treasury Management Strategy.
  • Ensure the effective management of the University’s medium and long-term investments.
  • Management of the relationship with the University’s investment advisors, bankers and fund managers.
  • Ensuring that the Universities investments are properly recorded and managed with direction from Mercer and the Investment Committee.
  • Preparing and maintaining the Investment Policy, Treasury Management Strategy and related documents.
  • Ensure that the Universities debts are managed and that regular checks are made on current and forecast covenant compliance so that loan breaches are avoided.
  • To assist the DoF in the identification of new or alternative funding sources and support their implementation as needed. To provide a similar function in consideration of derivative products.
  • To monitor the effectiveness of, and report on, the University’s derivatives.

Working Capital Management

  • To ensure that suitable debt collection and credit practices are performed and monitored.
  • To ensure that the University has appropriate processes for managing and recording its short- term liabilities.
  • To ensure that the University has appropriate processes for managing and recording its inventories and other short-term assets.

Fixed & Investment Assets

  • Ensure that appropriate accounting records are kept of expenditure and funding to enable capital grant claims to be made in a timely fashion and to allow funding and cashflow projections to be maintained throughout the project life.
  • Ensure that the University’s asset revaluation process is effectively managed. Identify and mitigate the impact of potential impairment of historic cost valuations.
  • Manage the relationship with the University’s external valuers and Estate’s function.
  • Ensure that the University’s Investment Assets are appropriately managed and accounted for.

Tax

Ensure that the University’s tax affairs are appropriately planned and managed in accordance with the Tax Strategy to include:

  • Preparation of the annual tax report.
  • Preparation of updates to the Tax Strategy.
  • Ensure that the University’s tax processes (both direct and indirect), and practices are compliant, report annually on all tax matters to Finance Committee and manage relationship with HMRC and other UK or overseas tax and social security bodies.
  • Identifying where internal expertise is required and where external advice is required to manage the University’s tax affairs most effectively.
  • To ensure that staff across the University are appropriately trained.
  • To engage with external and sector bodies to identify new opportunities or liabilities because of new legislation or activities.

Regulatory Compliance

  • Ensure that there are sound financial systems, procedures, and controls in place to safeguard the University’s assets and to meet its statutory and financial obligations.
  • Ensure that the University complies with relevant legislation, proper accounting practices and the requirements of funders. F&PO lead contributor to Standing Group for Financial Probity.
  • Ensure that the annual accounts are prepared accurately and to the required timetable.
  • Ensure compliance with relevant regulatory and statutory requirements including but not limited to OfS Accounts Direction.
  • Manage relationship with Liaison with both internal and external auditors.
  • Ensure that there is a high- profile internal control environment, including relevant financial regulations and procedures which are maintained and actively communicated to other parts of the University.

Other

  • Represent the University as necessary in local, regional and national activities and contacts.
  • Ensure effective communication within the Financial Accounts team and, together with the Director of Management Accounting and Head of Procurement, to forge good working relationships with the Faculties and other support services.

You will from time to time be required to undertake other duties of a similar nature as reasonably required by your line manager. You are required to follow all University policies and procedures at all times and take account of University guidance.

 

PERSON SPECIFICATION

All of the following are essential unless otherwise noted.

Qualifications

  • Professional accountancy qualification.
  • Qualified to degree level or have equivalent professional experience. (Desirable)

Experience/Knowledge

  • Senior Financial experience as part of a large/complex organisation.
  • Delivery of statutory accounts within a large organisation.
  • Significant experience of working with financial and information systems.
  • Experience of treasury management/ investment handling. (Desirable)
  • Good knowledge of pension schemes and issues. (Desirable)
  • Experience of design and implementation of new systems/processes. (Desirable)
  • Experience of working in the Higher Education Sector. (Desirable)
  • Experience of managing and developing a sizeable or complex team(s). (Desirable)
  • Project management experience.

Skills

  • Excellent written and oral communication skills at level appropriate to liaison with senior academics and managers.
  • Ability to communicate complex financial concepts to a non-financial audience.
  • Excellent numeracy and advanced IT skills (Accounting Software, Excel and Business Objects).
  • Ability to think strategically and creatively and contribute to institutional policy-making.
  • Good analytical and decision-making skills.
  • Good interpersonal skills, including motivational and team building skills.
  • Ability to develop networks, prioritise tasks and solve problems.

Attributes

  • Competent, conscientious, and motivated with a methodical approach to work.
  • Helpful and supportive manner, motivated to deliver improvements.
  • Able to work on their own initiative, but also contribute positively to team goals.

 

Please see here the University of Bath’s most recent financial statements.

Terms of appointment

Term of office

The role is 1 FTE and we anticipate a flexible hybrid working pattern as the role will require attendance on campus as well as the F&P Offices in the city.

Renumeration

We are offering a competitive remuneration package to be agreed with the successful candidates.

Benefits

  • 26 days per annum plus five University days taken in conjunction with public holidays.
  • A very generous employer contributory pension scheme.
  • An excellent reward package that recognises the talents of our diverse workforce.
  • An extensive range of personal and professional development opportunities.

Relocation procedure

The University will consider recompensing employees, at least in part, for the financial cost incurred by an individual required to relocate their permanent residence to within daily travelling distance of their University of Bath work location as a result of taking up a post. You can view our relocation procedure here and learn more about relocating to Bath here.

Visas

Candidates who require a visa for sponsorship can learn more about our visa policies here.

Our commitment to you

We have a strong commitment to the people we employ and value the contributions made by all our staff.

We aim to be an inclusive university, where difference is celebrated, respected and encouraged. We truly believe that diversity of experience, perspectives, and backgrounds leads to a better environment for our employees and students, creating a culture that enhances health and wellbeing across our community.

We hold an Athena Swan Silver award, and are very proud to have recently received Ambassadors for Autism certification and are an accredited Disability Confident Leader; committed to building disability confidence and supporting disabled staff.

How to apply

Anderson Quigley is acting as an advisor to the University of Bath. An executive search process is being carried out by Anderson Quigley in addition to the public advertisement.

The closing date for applications is noon on 8 September 2023.

Applications should consist of:

  • A full CV.
  • A covering letter (maximum of two pages) outlining your relevant experience and how you meet the criteria of the person specification.
  • Please include details of two referees on your CV, though please note that we will not approach your referees without your prior consent and only should you be shortlisted.

For a confidential discussion, please contact our advising consultants at Anderson Quigley: Alicja Janowska on +44 (0)7743 927 783, alicja.janowska@andersonquigley.com or Elliott Rae on +44 (0)7584 078 534, elliott.rae@andersonquigley.com