Financial Controller

THE WALLACE COLLECTION

The Wallace Collection is a national museum housing unsurpassed masterpieces of painting, sculpture, furniture, arms and armour, and porcelain. Built over the 18th and 19th centuries by the Marquesses of Hertford and Sir Richard Wallace, it is one of the finest and most celebrated collections in the world.

The Collection was given to the British Nation in 1897 by Lady Wallace, so that it could be kept together and enjoyed by generations of visitors. It was an astonishing bequest and one of the greatest gifts of artworks ever to be transferred into public ownership. Today, we care for the collection through research and conservation, and preserve it for future generations. Our aim is to share the collection with as broad an audience as possible.

We are a non-departmental public body of the Department for Culture, Media and Sport (DCMS). We are also a charity exempt from registration under the Charities Act of 2011. Our Director is Dr Xavier Bray. He is supported by a Board of Trustees appointed by the Prime Minister.

SALARY

In the range of £54,000 and £58,000 per annum dependent on skills and experience.

LOCATION

The Wallace Collection, Hertford House, Manchester Square, London, W1U 3BN.  

OUR PRIORITIES

The Collection is committed to providing access to as wide a public as possible and to helping visitors engage with this diversity. Our goal is to create a place of understanding, cultural pluralism, curiosity and learning. To do this, we plan to create a world-class visitor experience for all ages which stimulates engagement with our collection through a new programme of exhibitions, major gallery refurbishments and an enhanced and expanded digital presence.

Our strategic priorities are to:

• To maintain, research and preserve the Collection for future generations;
• To broaden and deepen visitor engagement, connecting with audiences onsite and digitally;
• To build and support a strong exhibition programme;
• To lay a strong financial foundation for the future; and
• To embark upon a Masterplan programme to transform the museum.

OVERALL PURPOSE THE ROLE

Reporting  to the Director of Finance and Resources, the Financial Controller manages the day to day running of the Finance department at the Collection, and is the first point of contact for internal and external stakeholders.. They will be responsible for enhancing financial policies, managing a small finance team and ensuring accurate and timely financial reporting. Central to the role will be the preparation of monthly management accounts and statutory accounts for the two entities at the museum: the Wallace Collection Charity and the museum’s trading company, Hertford House Marketing Limited. The role is responsible for robust financial management and commercial decision-making; they work closely with Heads of Department to ensure budgets are effectively managed and understood.

The Financial Controller is a new post at the Collection. While being responsible for the strategic aspects of financial accounting and operations, in order to achieve success in what is a lean organisation, they must also be hands-on and willing to get involved in day-to-day procedures and processes.

KEY RESPONSIBILITIES

Financial Reporting

• Preparation of all routine and ad hoc reports drawn from accounting records
• Production of monthly management accounts, including variance analysis for the Wallace Collection and Hertford House Marketing Ltd
• Monthly reports for all budget holders
• Coding of all self-generated income, ensuring that recognition complies with the relevant accounting standards
• Preparation of annual reports and supporting schedules for auditors of the Wallace Collection and Hertford House Marketing Ltd, with the assistance of the Director of Finance and Resources
• Maintenance of the Fixed Asset register (reconciliation performed annually as part of the year end process)
• Acting as main point of contact with internal and external auditors
• Payroll reconciliation (payroll is performed by an external third party provider)
• Assisting the Finance Officer with Balance sheet and Bank reconciliations
• Preparation of ad hoc reports and papers for both internal and external stakeholders

Budgets, Financial Planning and Projects

• Monthly grant-in-aid drawdown request
• Preparation of the annual budget and periodic reforecasts of budget throughout the year
• Keeping records for one off projects, such as capital projects/gallery refurbishments
• Recording and monitoring movements on restricted funds
• Monthly counting and banking of the donation boxes
• Regular monitoring of bank accounts and working capital management
• Contributing financial expertise to Museum-wide projects and initiatives

Compliance

• Responsible for preparing the quarterly VAT return with assistance from the Finance Officer
• Responsible for preparing Gift Aid returns with assistance from the Finance Officer and the Development Team
• Ensuring compliance with donor restrictions, public sector and charitable sector regulations and guidelines
• Liaison with Customs and Excise on routine VAT matters, and Inland Revenue on other tax matters  

General

• Maintaining the accounting system and ensuring the integrity of data entry, in conjunction with the Finance Officer
• Managing the Finance Officer
• Dealing with enquiries from stakeholders and staff
• Championing best practice financial management, commercial decision making and internal financial controls across the organisation  

Other

• Assisting with any other duties where required by the Director of Finance and Resources  

PERSON SPECIFICATION

Essential

• A professional accountancy qualification (CIMA, ACA, ACCA); candidates with equivalent experience will be considered
• Ability to develop and optimise financial systems, especially financial reporting tools
• Understanding of financial control mechanisms within a business environment
• Experience of managing year end audits, ideally within government bodies or heritage/cultural/charitable organisations
• Understanding of financial planning, forecasting and analysis and the importance of embedding this throughout an organization
• Proven track record of communication complex financial information in an easy to understand format
• Excellent analytical skills and strong proven problem-solving ability with superb attention to detail
• A self-starter, with the ability to work under pressure and to accomplish tasks to a high level of quality without supervision
• Adaptable and willing to meet the current and future needs of the organisation and key stakeholders
• Understanding of management and financial accounting principles and techniques
• Understanding of VAT  

Desirable

• Knowledge of charity financial practices and obligations including an understanding of charity SORP and related reporting requirements
• Understanding of Gift Aid regulations
• Appreciation of the needs of a national museum and how it operates as a Non-Departmental Public Body within a subsidised sector
• An interest in the arts and the Wallace Collection

HOW TO APPLY

Please complete the Application Form, and the Equal Opportunities Monitoring Form, following the links provided on our website. Please note the equal opportunities form is used for monitoring purposes only and does not form part of the selection process. Both forms should be emailed to recruitment@wallacecollection.org by midnight 14/04/2024. Please note late applications or applications via a CV will not be considered.

Interviews for the role will take place on week commencing, 15/04/2024. Candidates who have been shortlisted for interview will be contacted after the closing date. Due to the large number of applications we receive, it will not be possible to contact or give feedback to candidates who have not been shortlisted for interview.

Start date: May 2024

Appointment to the role is subject to a satisfactory Basic Disclosure check. The Wallace Collection is an equal opportunities employer and welcomes applications from all sections of the community.