At ForwardPMX, we help brands find the change to fuel business growth. We are an award-winning global brand performance agency, home to 1,000 talented people across 25 offices globally. We create unique data, technology and media solutions that enable faster and smarter problem solving and an inspired, collaborative workplace culture.
Reporting to the CFO and leading a team of eleven this Finance Operations role encompasses all aspects of Cash flow, Accounts Payable, Accounts Receivable, VAT, Credit Insurance, Client Billing, and Management Reporting amp; compliance.
Responsibilities
Cash / Treasury
- Cash Flow Analysis of daily cash balances across 18 entities for reporting to Stagwell Group. We currently do a rolling 24-week forecast and report weekly. Update the weekly and monthly forecasts for the board so we have an accurate cash projection for the year. Challenge the treasury assistant on the numbers and ensure accurate reporting.
- Cash flow Forecasting Ensure all recurring costs are included in the rolling forecast. Check the validity of the data provided by the AP Manager. Verify the data collated by the Treasury Assistant on the income side in collaboration with the AR Manager.
- Bank Reconciliations Ensure everything is posted correctly across 45 multi-currency accounts. Check the reconciliation that the Treasury Assistant processes monthly and run revaluation and closure of period reports.
Accounts Receivable
- Client Billing Oversee the AR Team to ensure all client billing is sent out on a monthly basis. Multi-Channel Billing across PPC/SEO/DATA/Display/APAC/Content/Connected. Onboarding of new clients, transition of old clients, contractual negotiations regarding payment terms. Volume is approximately 1000 Invoices per Month Provide cover for approvals when AR Manager is on annual leave.
- Credit Control Oversee Debt management across 18 entities. This includes debt escalation, payment plans, legal, credit checks, interest chargeable, and Credit Hold. Multi-Currency Debtor balances in excess of 20 Million GBP at any one time. Targeted to ensure Debtor Days do not go above 35 days.
- Review Aged Debtors Analyse all debtors and ensure all invoices have been posted and updated in sage, provide a summary for the Board Report with commentary on all overdue debt, manage provision for doubtful debt. Ensure we are SOX Compliant and have commentary to back up any aged/doubtful debt. Work with financial control team to ensure monthly bad debt provision is up to date.
- Accrued / Deferred Income Review on a monthly basis with AR Manager amp; Financial Control team and ensure we have commentary on all billing that is delayed. Ensure all delayed billing is escalated to the relevant team lead and we are documenting the process for SOX purposes.
- Credit Insurance Ensure credit limits are being maintained within policy / Apply for new limits on prospective clients / negotiating limits our insurers want to reduce.
- Accounts Payable - Review and approve all payments for payroll / Media Spend / Search Engine Top-ups / Employee Expenses / Freelancers and International.
- Review Aged Creditors Ensure the team are posting efficiently and resolving queries in a timely manner. Question any Overdue Items and ledger clear downs / DR Balances and document monthly for SOX Purposes.
- Employee Expenses Review and Approve Staff Expenses for your team via Concur. Approval of the import for all staff expenses collated by the team. Question receipt integrity.
- Credit Cards Manage the Credit Card Scheme across the Business. This links to Concur. Ensure that the team are obtaining receipts for all credit card expenses and escalation of ones that don’t. Applying for New Cards and Ensuring Team Leads and Directors are spending within credit limits and utilizing points
- Staff Management 3 x direct reports (AP/AR Manager and Treasury Assistant) Ensure wider teams are hitting deadlines and escalating any relevant issues. Review their team management and ensure all employees are hitting objectives. Set new objectives for 2022.
- Conflict management / Performance-related issues within the team.
- Employee Expenses Review and Approve Staff Expenses for your team via Concur. Approval of the import for all staff expenses collated by the team. Question receipt integrity.
Accounts Payable
Controls
- Assist with completion of the 2020 Group and Local Audits alongside the Financial Controller and CFO. Manage the 2021 Audit from a Finance Operations perspective.
- SOX Reporting / Process Monitor workflow/segregation of duty throughout the team to ensure we are SOX Compliant at all times. Perform internal spot checks on the Sage platform and ensure adequate controls are in place per user.