Job Title: Head of Finance

JOB DESCRIPTION

Department: Finance

Main purpose of the job: Ensure the effective management of the Serpentine Gallery and Serpentine Sackler Gallery finances; establish budgets and achieve targets.

Reports to: Chief Operating Officer (COO)

Responsible for: Financial Accountant, Finance Assistant

Liaises with: Cross-level internal and external contacts.

 Review departmental policies, systems and processes, where necessary devise and implement alternative ways of working  Manage day-to-day financial operations

Budgets  With COO o Draft and set annual budgets for each department o Prepare long range planning and forecasting reports o Prepare budgets, financial reports, charts, graphs and financial models for identified projects  Monitor annual expenditure and cash flow budget  Work closely with all budget holders to monitor income generation targets; escalate any shortfall issues to COO  Meet regularly with Heads of Department to review budgets  Ensure COO is alerted to any significant change in the finances  Responsible for short-term financial planning  Work with COO on long-term financial planning  Identify cost savings and new streams of income  Produce monthly accounts for COO to review with the Trustees, Directors and Heads of Department

Reporting  Produce monthly management accounts for budget holders, COO, Director, Co-Director and Trustees  Keep COO up-to-date on the financial position and advise on the financial implications of future projects  Draft financial reports for the COO to present at Trustee meetings.  Complete the bi-annual Risk Assessment for COO, Directors, Treasurer and Trustees

Financial Systems  Continually review all systems to ensure optimal efficiency and effectiveness  Ensure operation of appropriate financial controls  Lead on systems update as necessary Finance Staff  Oversee the work of the Finance team (e.g. purchase, sales and nominal ledgers, monthly payroll, petty cash, cash book, and bank reconciliations)

Annual Accounts  Prepare annual accounts for audit and liaise with the auditors  Continually update on changes in reporting requirements e.g. SORP

VAT and Inland Revenue  Oversee the preparation of quarterly VAT returns  Liaise with VAT/Inland Revenue inspectors and be informed about changes in legislation  Oversee the annual Inland Revenue return for PAYE  Submit the quarterly tax return for Gift Aid tax repayments

Bank  Maintain a good working relationship with the Gallery's bank  Ensure cash is managed appropriately  Work with COO to ensure endowment funds are invested for the best possible financial return  Maintain cash management and risk control banking tools, e.g. electronic banking

Fundraising  Liaise with the Head of Campaigns and the Head of Fundraising to ensure efficient systems are in place for all grants, sponsorship and donations to be paid on time and that any financial conditions attached to these monies are honoured.  Work with the Development team to ensure budgets for all fundraising events are maintained, the income is collected and payments processed in a timely manner.  Assist with the Development team to ensure that all individual giving schemes are managed effectively including prompt payment by members together with their Gift Aid declarations  Assist the Development team with applications for funding by providing financial forecasts for future projects and final costs of previous projects

Arts Council England / City of Westminster  Provide financial reports for COO to present to the relevant funding bodies  Attend meetings with funders and provide financial and information as necessary

General  Attend weekly Heads meetings and contribute to the effective running of the organisation  Attend and contribute to fortnightly staff meeting, providing up-to-date information on financial issues  Ensure all relevant items discussed at the Heads meeting are communicated to the Finance team  Attend relevant Serpentine Gallery events and represent the Gallery when appropriate  Carry out any other duties as reasonably required PERSON SPECIFICATION

Essential  A qualified accountant with a minimum of five years PQE  A credible individual capable of interaction at Board of Trustee level  A rigorous approach to financial management and control  Knowledge of charity accounting and SORP  Creative problem solver  Experience of reviewing, enhancing and developing financial systems  Proven staff management experience  Entrepreneurial, creative, dynamic and hard-working  Good communication skills

Normal office hours are 10.00am to 6.00pm Monday to Friday, although the jobholder will be expected, within reason, to work such hours outside these periods as are necessary for the proper fulfilment of the duties described in the Job Description. This Job Description is a guide to the nature of the work required of the Head of Finance and does not form part of the contract of employment. It is neither wholly comprehensive nor restrictive and does not preclude change or development which may be required in the future.