Chief Financial Officer (CFO)
Onto, United Kingdom
Job Description
About Onto
Onto is Europe's largest electric car subscription service. Having launched 5 years ago to now having over 7,000 EVs at the end of 2022 - Onto has been recognised by the Financial Times as one of the top 10 fastest growing businesses in Europe.
For a flat monthly fee, Onto customers get the latest electric cars with insurance, servicing, breakdown cover and public charging at over 12,000 locations across the UK. There is no deposit and only a 1-month rolling commitment. Hassle-free, emissions-free and affordable driving.
We’re changing the way people think about car ownership whilst also doing the right thing for the planet. By 2026 we aim to have a fleet of 100,000 cars across Europe saving over 75,000 tonnes in CO2 emissions.
Why not take a look
Onto
Onto: All-in EV subscription (@driveonto) • Instagram photos and videos
About the CFO role:
We have an exceptional opportunity for an experienced finance head to propel Onto forward on our exciting journey. As a key member of our team and reporting directly to the CEO, you will be playing a pivotal role in shaping our strategic and financial direction. Your expertise will be instrumental in planning and spearheading vehicle financing, including our transition to Asset-Backed Securitisation and future equity funding rounds.
Collaboration will be at the heart of your responsibilities, as you work closely with management at all levels across various functional areas. Your interactions will extend to the highest levels of our organisation, offering significant visibility with the Board, CEO, and wider stakeholders within the entire group.
Internally, you will be entrusted with the task of constructing a finance function that actively leads rather than reports. Your objective will be to embed finance as a value-adding service, while implementing robust financial operating systems.
As the CFO, you will oversee the company's financial actions, starting from the foundational aspect of tracking cash flow and conducting comprehensive strength and weakness analyses. When necessary, you will propose effective corrective action plans and ensure accurate forecasts are prepared, enabling Onto to make well-informed decisions regarding future investments.
By joining our dynamic team, you will have the opportunity to shape Onto's financial landscape, contributing to our growth and success. Together, we will elevate finance as a strategic partner, driving our business towards new heights.
Requirements
Life as a CFO at Onto:
- Be the financial leader and partner with the CEO to drive the company's financial performance and long-term strategy.
- Oversee and manage the financial integrity, accounting, and reporting of the business.
- Own and evaluate the organisation's fundraising plans, debt strategy, and capital structure, including the transition to Asset-Backed Securitization (ABS).
- Collaborate with the CEO to develop Onto's equity funding strategy, identifying potential future equity raise requirements such as an IPO or trade sale.
- Make investment decisions while considering cash and liquidity risks, ensuring appropriate cash flow for the organisation's operations.
- Provide financial information to management that is meaningful, accurate and timely.
- Keep senior management informed of key trends, deviations, and issues throughout the year and during budget and business planning cycles.
- Manage taxation and tax policies across the Group.
- Perform risk management by analysing the organisation’s liabilities and investments.
- Cultivate and maintain vendor relationships.
- Develop and evolve the company's finance IT system.
- Ensure compliance with laws, regulations (including FCA), accounting standards, and company policies.
- Lead a team of Legal, Treasury, and Finance departments
Ideally we are looking for:
Please note: We know that no candidate will be the perfect match for all we've listed in this posting, so we’d encourage you to apply if you feel you're close to the brief but not an exact match.
- Proven experience as a CFO or number 2 in a rapidly growing, venture capital-backed company for at least two years.
- Demonstrated ability to adapt and thrive in a dynamic business environment, actively ‘getting your hands dirty’ while simultaneously establishing robust processes and teams as the company matures.
- Experience with business and/or consumer finance structures, including debt and leveraged lending. Preferably, experience in developing more advanced solutions such as securitization structures.
- Dynamic mindset, capable of encouraging innovative thinking within the finance team and actively contrib