Chief Finance Officer

Your Team

The Finance team is a team of circa 8 people and is split into two strands: Financial accounting and reporting and Financial planning and analysis. Payroll also sits within the Finance function.

The CFO will work closely with all teams, business partnering to add value and provide insights and recommendations. They will partner with production heads to plan production budgets, with Development to keep track of funds raised for both revenue and capital, with the FOH operations team for commercial F&B income, and with People (HR) for staffing and headcount budgets.

The postholder will build and maintain strong relationships with external stakeholders including auditors, legal advisers, regulators, funders, banks, insurers and professional advisers, ensuring the organisation meets its statutory obligations and operates in accordance with charity, company and other relevant legislation while effectively managing organisational risk.

Areas of responsibility

Finance

• Lead the organisation’s financial strategy, planning and stewardship, ensuring long-term financial sustainability and alignment with artistic and organisational objectives.

• Oversee all aspects of financial management including budgeting, forecasting, management accounting, statutory reporting, treasury, cashflow, investment, debt and insurance management.

• Ensure robust financial controls, systems and processes are in place, maintaining compliance with charity, company, tax and funding regulations and supporting effective decision-making across the organisation.

• Lead the preparation of annual budgets, reforecasts, statutory accounts, management accounts and financial reporting for the Board, Committees, Executive Team, funders and regulators.

• Provide strategic financial analysis, business partnering and commercial insight to support productions, operational activities, income generation, investment decisions and organisational performance.

• Lead organisational risk management in relation to financial planning, liquidity, investments and contractual obligations, ensuring appropriate mitigations are in place.

• Oversee relationships with auditors, banks, funders, advisers and other external stakeholders, ensuring compliance with all reporting and covenant requirements.

• Manage The Old Vic’s Endowment portfolio, and the Endowment Board meetings.

• Drive continuous improvement in financial systems, reporting, processes and ways of working, leveraging technology to increase efficiency, insight and organisational effectiveness.

• Lead, develop and inspire the Finance team, promoting a business partnering culture and building financial capability across the organisation through effective training and support.

• Lead the organisation’s approach to insurance, procurement and purchasing, ensuring appropriate controls, risk mitigation and value for money across all activities.

• Ensure robust policies, procedures and assurance mechanisms are in place to support effective stewardship of organisational resources and assets.

Data & Systems transformation

• Work across the theatre in conjunction with IT/Operations on continuous improvement of systems and processes.

• Take the financial lead on transformation and efficiency projects including the use of new technologies.

• Capital Expenditure.

• Manage the annual capital expenditure commitment (circa £500k), working with Theatre Operations and Technical.

• Partner with the COO & Deputy Executive Director and the Director of Development on exceptional capital projects, as and when they arise.

• Governance and Company Secretariat.

• Serve as the organisation’s lead officer for governance, ensuring effective governance structures, processes and policies are in place and aligned with Charity Commission guidance, company law and best practice.

• Act as Company Secretary (or oversee the company secretariat function), supporting the Board of Trustees and its committees through the preparation of agendas, papers, minutes, governance calendars and annual work plans.

• Ensure compliance with the organisation’s governing document, Articles of Association and relevant regulatory requirements.

• Maintain statutory registers and oversee all required filings with Companies House, the Charity Commission and other regulatory bodies.

• Support the Chair, Chief Executive and Board in maintaining high standards of governance, accountability and decision-making.

Legal Affairs

• Lead the organisation’s approach to legal risk management and coordinate external legal advisers where specialist advice is required.

• Oversee the review, development and execution of significant contracts, agreements and commercial arrangements, ensuring appropriate governance and risk management processes are followed.

• Provide strategic advice to senior leaders on legal and regulatory implications of organisational decisions.

• Ensure appropriate management of intellectual property, licensing, data protection and contractual compliance matters relevant to theatre operations.

• Maintain oversight of legal disputes, claims and potential liabilities, escalating significant issues appropriately.

• Compliance and Regulatory Management

• Develop and maintain an organisation-wide compliance framework that ensures compliance with charity, company, employment, pension, fundraising, health and safety, data protection and other applicable legislation.

• Act as the executive lead for organisational risk management, maintaining the corporate risk register and supporting the Board’s oversight of key strategic and operational risks.

• Be the principal Data Protection Officer for the theatre, ensuring GDPR compliance and training, and managing and implementing a robust data protection strategy.

• Ensure effective systems are in place to monitor regulatory developments and implement changes required by legislation or best practice.

• Lead the preparation of governance and compliance reporting for the Board, Finance and Risk Committee and relevant regulators.

Risk and Assurance

• Lead the development and implementation of the organisation’s risk management framework.

• Oversee internal controls and assurance processes to ensure the safeguarding of assets, reputation and charitable objectives.

• Support the Finance and Risk Committee and ensure recommendations arising from audits or reviews are implemented effectively.

• Ensure appropriate business continuity, crisis management and organisational resilience arrangements are maintained and reviewed.

This is not an exhaustive list of duties and the Theatre's management may, at any time, allocate other tasks which are of a similar nature or level.

Person Specification

Knowledge and experience

• Fully qualified accountant (ACA, ACCA, CIMA or equivalent) with significant senior financial leadership experience.

• Proven experience leading high-performing finance functions, including team leadership, staff development and business partnering.

• Strong understanding of charity finance, charity law, governance and regulatory requirements, including experience of preparing statutory accounts and managing audits.

• Significant experience supporting Boards, Trustees and Committees, providing strategic financial, governance and risk advice.

• Experience developing and implementing financial controls, risk management frameworks, compliance processes and organisational assurance arrangements.

• Experience overseeing legal, contractual and regulatory matters, including managing relationships with external advisers.

• Experience leading finance transformation, process improvement and systems implementation initiatives.

• Knowledge of fundraising, grant funding, VAT, Gift Aid, GDPR and other regulatory requirements relevant to charities and cultural organisations.

• Experience working at a senior level within the charity, arts, cultural or similarly regulated sector.

Skills and Competencies

• Excellent strategic, analytical and commercial skills, with the ability to translate complex financial, governance and legal issues into clear, practical advice.

• Strong financial planning, budgeting, forecasting, treasury and cashflow management expertise.

• Outstanding communication and stakeholder management skills, with the ability to influence and present effectively at Board and Executive level.

• Strong leadership, people management and organisational development skills.

• High levels of integrity, judgement, attention to detail and commitment to continuous improvement.

• Strong understanding of financial systems, technology and data-driven decision-making, with a commitment to developing efficient, technology-enabled services.