Chief Finance Officer

Department/Team: Finance

Responsible to: Executive Director

Direct reports: Financial Controller and Production & Reporting Accountant

Contract: Permanent

Location: Mix of home working and from The Old Vic, 103 The Cut, London, SE1 8NB (min 3 office days)

Hours: Full-Time - 40 hours per week, Monday-Friday

The Old Vic offers the ability to work these flexibly under the guidelines in our Hybrid Working policy. Additional hours may be necessary in order to fulfil the requirements of the post.

Salary: Competitive

Role Summary The CFO is responsible for developing The Old Vic's financial strategy and financial risk management, as well as the organisation's governance and legal compliance.

The CFO will be responsible for the overall financial management of The Old Vic organisation and will have a day-to-day hand in the finance operation at the theatre, helping to analyse and grow the financial position. As a member of the Senior Leadership Team and in support of the Artistic and Executive Director, the CFO will play a leadership role, liaising with the Board to drive change to oversee governance, data, process improvements, cash flow planning, budget planning and tracking financial performance.

Alongside responsibility for the organisation's financial leadership, the postholder will lead the organisation's governance, legal affairs, risk management and regulatory compliance framework, ensuring the charity meets its statutory obligations and operates in accordance with charity law, company law, fundraising regulations, employment legislation and relevant sector specific requirements. The role will act as principal adviser to the Chief Executive, Board of Trustees and Board Committees on governance, compliance and organisational risk.

The Old Vic is in the early stages of developing a multi-year digital and IT strategy. The objectives include, strengthening cyber security and compliance, improving systems and data quality, and future readiness / responsible innovation (AI). This role will lead that work.

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 . click apply for full job details