Group Finance Director
Overview: Private Equity I Project Management, Engineering, Construction & Facilities ManagementKey elements of the role: The introduction of financial control and governance, transparency on and understanding of financial performance, cash flow management and strategic planning/implementation & organisation change Summary: The initial focus of the role was intended to be on preparing the business for a sale with this shifting at the time of joining to a turnaround situation given the challenges facing the business from both an operational and financial perspective. There were a large number of the fundamental business controls, processes and procedures (financial, commercial and operational) requiring either implementation or a significant amount of re-engineering in order to support the business operations.The core processes around financial reporting/review, contract performance, bidding/tendering and cash flow/working capital management were some of the areas which were immediately addressed. Corporate governance, bottom-up budgets/forecasts, introduction of business KPIs and transparency on cash flow forecasting were areas where enhancements were also made and these changes were further supported by the initiation of monthly business reviews with the Profit Centre leaders. These reviews ensured that there was improved transparency on contract performance and working capital management which aided cash flow. In addition, they provided an understanding of, and ensured accountability for, profit centre performance as well as providing useful insights into management capabilities.The role had a large degree of strategy development and implementation which was complimented by a significant amount of business and organisation change. The Group Finance Director had responsibility for a variety of business functions including the core finance functions as well as commercial, IT, procurement, legal and property.