The Ivors Academy is the UK’s not-for-profit professional membership association for songwriters and composers. By protecting the rights of our members, championing their achievements, and empowering them with the tools and resources to shape their future, The Ivors Academy is committed to becoming the most value-driven partner for authors, composers and songwriters. Our dedication to these values helps foster a thriving, sustainable and equitable music industry for all writers.
Role Purpose
The Head of Finance plays a pivotal role in ensuring the Academy’s ongoing financial stability through a period of growth. The Ivors Academy requires a senior level professional to supplement the work of the Accounts Assistant and Chief Operations Office. This includes providing guidance to staff, Senior Management Team (SLT), CEO, Finance and Risk Committee and Board through the provision of robust, confident financial reporting and sound strategic advice on financial matters across the organisation, delivered through clear communication to staff and stakeholders.
Financial Accounting
- Lead and develop the Finance Assistant to deliver timely and high-quality finance support across The Academy.
- Monitor the accurate recording of, and accounting for, income and expenditure in compliance with standard accounting policies, following best practice.
- Supervise the preparation and the timely submission of payroll deliverables, VAT and any other tax obligations.
- Ensure financial controls are strong and effective within The Academy and within the department.
- Timely and accurate preparation of month end reports including income, expenditure, balance sheet, cash flow and budget holder information.
- Manage the year-end process of preparation of statutory financial statements by Prager Metis ensuring review and adequate documentation of all aspects of the accounts.
- Manage the distribution of royalties collected by 3rd party organisations ensuring the process is robust and efficient, managing and updating The Academy’s royalties model, and providing a full reconciliation of these accounts involving cash, income and trade creditors.
- Supervise the Academy’s day-to-day banking arrangements and ensure the cashflow planning and management are effective while carefully making decisions on the investment of cash on fixed-term deposits to maximize interest income.
- Seek to continually improve the finance function, building a strong and respected support service within The Academy.
Management Accounting and Financial Reporting:
- Prepare and distribute regular business as usual financial reports, dashboards, and summaries to management and stakeholders monthly in the agreed format.
- Conduct regular reviews of budget vs. actual performance, identifying variances and recommending corrective actions. Ensure The Academy operates on a sound financial basis.
- Collaborate with budget holders to ensure an accurate and complete understanding of financial performance is communicated across The Academy, including to the Senior Leadership Team and the Board. Production of briefing and detailed reports on the management accounts, forecasts and budgets for the Finance & Risk Committee and the Board of Directors when required. Present results at meetings.
Financial Planning and Analysis:
- Lead and oversee key business as usual financial planning and analysis activities.
- Manage the annual budgeting process and any periodic out-turn forecasting.
- Work with the membership team in analyzing subscription income trends and monthly results. Create dashboards and reports to help with decision making.
Cross-Functional Collaboration:
- Work as part of the SLT to maximise surpluses, improve decision-making, and ultimately drive financial transparency across the entire organisation
- Collaborate effectively with various departments to drive understanding of The Academy’s finances.
- Cultivate positive relationships with a variety of stakeholders.
- Encourage the adoption of digital tools and data-driven decision-making throughout The Academy to support strategic objectives.
Other:
- Contribute to the identification and management of financial and business risks.
- Identify and recommend opportunities for financial improvements and operational efficiencies, especially from the re-engineering of processes.
- Liaison and co-operation with external accountants.
- Contribute to writing financial policies and procedures. Communicate and reinforce polices to members of staff outside the finance department including providing training as required.
Person Specification
- Experience in all aspects of Financial and Management Accounting
- Experience of leading, developing and management of a finance and accounting function.
- In-depth experience and up to date working knowledge in financial planning and analysis including in creating financial models, building long term plans, analyzing large sets of data in Excel, improving processes.
- Evidence of effective leadership, management and motivation of staff, including goals setting, monitoring targets/outcomes and developing staff.
- Excellent analytical skills, with the ability to interpret complex financial data and provide actionable insights.
- Experience of payroll administration and understanding of HR related matters
- Experience of working with professional advisors such as external auditors, lawyers, etc
- High level of proficiency with accounting software.
- Ability to prioritize and allocate resources effectively, to plan and organize
- High level of proficiency in the use of IT packages including the Microsoft Office suite and especially Excel.
- Knowledge and understanding of CRM systems
- Good commercial and business awareness
- Music royalty and industry experience would be beneficial
Email address candidates to send application to: recruitment@ivorsacademy.com
Format of application: CV and covering letter. Please include salary expectation.
Local office address for the role:
Hybrid. The role will be a combination of working from home and in-person at our offices in central London. Office address: 1 Upper James Street, London, W1F 9DE.
Equal Opportunities statement
The Ivors Academy is committed to celebrating diversity, eliminating discrimination, and promoting equality of opportunity. We welcome and strongly encourage individuals of all backgrounds to apply for this role. Application is by submission of a full curriculum vitae (CV) and a covering letter of application, addressing the job description and person specification. https://ivorsacademy.com/aboutus/jobs/
Privacy statement
At the British Academy of Songwriters, Composers and Authors trading as The Ivors Academy, and at the BASCA Trust trading as The Ivors Academy Trust (“Ivors Academy”, “Ivors Academy Trust”, “we,” “us” or “our”) we are committed to protecting and respecting your privacy.
Please visit https://ivorsacademy.com/privacy/ for full information.
