AddressHeadquartered in Burnley, The Original Factory Shop was set up in 1969, and we now operate over 200 stores across the England, Scotland, Wales and Northern Ireland mainly in the high street of secondary / tertiary towns and along the coast, retailing a broad range of branded and own label merchandise at bargain prices.
The Original Factory Shop brand acts as the one stop shop in the heart of local communities. As a value retailer, The Original Factory Shop is extremely well positioned to grow in a market where an increasing number of savvier customers – from mums with young children to older, retired pensioners – are looking for bargains. With discounters raising the bar, customers have also become rather accustomed to higher standards and better experience in store.
The Original Factory Shop has much to offer in this market – scale, great brands at bargain prices, low prices, too, on own-label merchandise across health, beauty, toys, household as well as fashion and easy, ‘one stop’ shopping for customers living outside major towns. The 3,000 colleagues employed in the business today have a deep connection with their community; they are loyal and want the business to succeed. As the business sets out on its new ‘Journey to Growth’, the vision is to make The Original Factory Shop ‘the’ best destination to shop for unbelievable bargains and to create an exciting shopping environment for customers, young and old alike.
Context and purpose of role:
Reporting to the CEO, the Finance Director will sit on the board. The Finance Director will assume a broad leadership position in the business and take responsibility for the company’s finance strategy and all day-to-day activities pertaining to finance.
In addition to this, the Financial Director will:
- Serve as a strategic and commercial sounding board for the CEO.
- Lead a lean team of functional reports.
- Constantly monitor and review the financial performance of the company against budgets.
- Provide accurate and focused KPI reporting in a data-rich environment, ensuring rigour at every stage.
- Articulate business plans, prioritise and focus to deliver.
- Manage cash requirements and budgeting process and provide accurate and timely reporting to investor base.
- Lead all matters pertaining to treasury, working capital, currency and hedging, acting as the daily contact for bank and debt-funding relationships.
- Manage relationships with external advisory partners, including legal and audit.
- As appropriate, lead all corporate finance and fundraising activities, including refinancing's and exit, potentially via IPO or buyout route.
- Additional responsibility for IT, transforming capability fit for future infrastructure.
Competencies and Leadership Characteristics:
The successful candidate will be of the highest calibre, not only technically excellent but also will possess the experience and gravitas to work with external investors and debt holders, as well as a highly accomplished senior board of directors. In addition, they will demonstrate excellent leadership skills, and be able to excel and deliver results within a private equity context. This translates to a person who is flexible, dynamic and excited by the business and its prospects, with a positive, ‘can-do’ attitude and a willingness to get stuck into the detail when needed.
The ideal candidate should exhibit most, if not all, of the following:
Business partner to CEO
- A highly commercial approach, capable of building an effective finance function to support a rapidly growing business.
- A clear leader within the business; an alter-ego of the CEO and able to engage the team.
- The ability to work at both a strategic and operational level.
Operational focus
- ‘Can do’ in approach, getting stuck into the operational detail with a focus on improvement in systems and processes.
- Extensive commercial awareness; a proven ability to drive performance.
- Meticulous attention to detail, beyond interpreting figures, and the ability to interpret and guide the board around the minutiae.
‘PE mindset’
- Motivation and desire to work in a fast-growth, privately held business.
- Focus on cash and EBITDA improvement; drive to exit.
- Cost-conscious.
- Proven experience of building strong relationships with key stakeholders.
- Can operate in a high-pressure, fast-paced, transforming environment.
EQ/leadership
- High level of gravitas, confidence and strength as an individual.
- Thinks independently and in a measured manner.
- Able to have robust and intellectual debates with CEO and other members of team but ultimately ‘get on’ and implement.
- The intellectual flexibility and capacity to deal quickly with complex business issues, articulate strategic plans and represent the business internally and externally.
- Personable yet firm leader; not afraid of a challenge; a coach rather than a manager.
- Excellent presentation skills, both formally and informally.
Background:
- Solid education background.
- ACA-qualified (or equivalent) with first time passes.
