Interim Chief Financial Officer
Our client, the Scottish National Investment Bank is being launched this year as a new development investment bank for Scotland with a vision to catalyse change by investing in a fairer, sustainable and ambitious Scotland. The Bank will seek to invest in businesses and projects that will support a growing Scottish economy with a focus on stimulating positive economic and societal change and innovation.
The Bank will be a mission-orientated patient capital investor, with long-term missions set for it by the Scottish Parliament. The primary mission, already identified, will be investing in supporting Scotland's transition to net-zero. A further two missions are expected to focus on investing in places and regeneration to reduce inequality; and, investing in innovation for the long-term benefit of the Scottish economy. The missions will be debated and finalised by Parliament before the end of the year.
Reporting to the Chief Executive Officer, the interim Chief Financial Officer will be a member of the Executive Management team, with specific responsibility for leading the Finance function comprising five core teams: Financial Control, including finance processing and reporting, financial planning and analysis, procurement, IT and finance business partnering. The Finance function will provide the financial management, internal and external financial reporting and accounting requirements of the Bank.
*Leading on all aspects of finance in support of the Chief Executive, including their role as Accountable Officer, in fulfilling the duties and functions of the Bank.
*Contributing to main governance of the Bank including as a member of the Board and relevant committees.
*Leading the development of the financial strategy, budget and modelling for the Bank.
*Leading the funding, liquidity and capital planning and management of the Bank.
*Together with the CEO and Investment Origination Teams, developing a standard return on investment model for application across the Bank's investment activities.
*Providing financial reporting and commercial finance advice to the Board as required and, along with the CEO, formally representing the Executive at Board Meetings.
*Defining and maintaining the financial management and accounting approach and supporting policies, frameworks and models, consistent with the Bank's financial targets and risk appetite.
*Developing, maintaining and embedding financial practices and ensuring that they are in line with all relevant statutory regulations and legislation.
*Developing, managing and refining appropriate periodic financial reporting in order to support effective decision making by stakeholders across the bank, including the board and key committees.
*Developing, managing and refining external reporting to the Scottish Government and other key stakeholder and interest groups on required metrics.
*Ensuring effective capabilities and models are in place to provide robust tax, finance and reporting support to the investment origination and investment risk teams.
*Providing input and challenge as a member of the executive team and key committees in relation to the operation of the business, management of issues / challenges, strategic direction and achievement of the bank's mission-focussed objectives.
*Embedding the bank's finance policies, models and frameworks through effective communication, promotion and training in relation to Finance and Reporting.
*Accounting qualification and current membership of relevant professional accounting body.
*Held a role as an approved person (FCA) within an investment bank, investment management or similarly regulated financial institution.
*Held a leadership role in a significant influence Finance function within an investment bank or similarly regulated financial institution preferably with a focus on alternative investments including SME finance, construction/development finance, infrastructure and project finance and/or principal investments.
*Considerable knowledge and experience of developing and applying best practice Finance, Reporting and Valuation frameworks, methods and tools.
*Proven ability to oversee a number of areas of Finance, including but not limited to tax, financial reporting, treasury and planning and analysis.
*Knowledge and detailed understanding of accounting frameworks, valuations, modelling, pricing, tax strategy and reporting, and treasury activities.
*Knowledge of the regulatory environment and regulatory requirements relating to UK financial services institutions and the operations of the Bank.
*Problem-solving and decision-making skills, with the ability to analyse complex information to identify the key issue/action and drive resolution.
*Significant leadership experience with a proven record of managing people, skilled communication and the ability to influence others.
*As a member of the executive management team, an understanding of the broader operations of the Bank and the issues involved in running an investment bank or investment management business, including financial aspects and strategic planning, is required.
Badenoch + Clark acts as an employment agency for permanent recruitment and an employment business for the supply of temporary workers. Badenoch + Clark UK is an Equal Opportunities Employer.
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