Senior Finance Analyst

Job title:

Senior Finance Analyst

Company

McLaren

Job description

Background

No restraints. No limitations. We don’t simply push boundaries. We completely rethink them. McLaren Automotive exists to create breath-taking performance road cars.

It takes a community to do what we do. A diverse group of people with many areas of expertise, united by their passion to deliver visionary products and set new benchmarks.

McLaren Automotive commits to equal opportunity for all. Diversity, Equality and Inclusion is at the heart of our impact, it drives our innovation and enables us to truly create something special. Join us on our journey.

Purpose of Role

• Stand-alone management of the financial performance of MCTC and report against the approved business plan
• Consistently deliver relevant, accurate and timely financial information to MCTC and Woking stakeholders
• Create financial forecasting and business models which enable optimal business decisions to be made and ensure finance is an enabler, not a barrier to business success.
• Build, manage and present financial modelling for business cases related to existing work and/or new business which the business may wish to on-board.
• Oversee and day-to-day management of one Finance Analyst
• Update MCTC business plan and monthly forward forecasts, supporting approval process.
• Liaise with external regional and governmental partners with regards to grant funding opportunities and on-going projects
• Maintain and update relevant information on grant funded project and provide and liaise with external audit teams to ensure compliance.
• Business Partner with all levels of the organisation and hold budget owners to account for their spend and effective use of resources.
• Some travel to McLaren Headquarters in Woking (MTC), will be required.
• Lead development and report total production cost and bill of material for MCTC manufacturing components including all change control and support the financial analysis of all future proposed in-house manufacture of components.

Principal Accountabilities

Business Partnering

• Collaborate with key stakeholders to regularly analyse and review costs vs. budget.
• Challenge budget owner assumptions to ensure the best value for money is attained and material decisions are made on both a technical and financial business case basis.
• Proactively identify, record and communicate any financial risks and opportunities to the Plant leadership team and MAL Operations Finance and wider business leadership team.
• Continuously improve the financial tracking tools and outputs available to budget owners, driving accountability and allowing them to keep within agreed budgets.
• Support the Technical Change Request process to challenge assumptions and ensure that the correct level of finance approval is gained.
• Support the Commercial Team with supplier analysis, payment queries and GL code/purchasing group analysis.
• Prepare comprehensive business case analyses, assess ‘make versus buy’ scenarios, and deliver strategic presentations to senior management.
• Evaluate the actual Bill of Materials (BoM) costing, encompassing cost mitigation and cost-saving initiatives, as well as assess the operational performance of the facility.
• Oversee inventory valuation at the production facility, ensuring alignment with budgetary constraints and compliance requirements.

Month-End

• Month end accounting, including posting SAP journals, accruals, prepayments and GL account reconciliations.
• Own project tracking documentation and prepare monthly P&L actuals with meaningful variance analysis which can stand up to high levels of scrutiny and challenge.
• Provide insightful commentary on the financial performance of MCTC and drivers behind variances to budget with mitigating actions.
• Assist with the development and implementation of appropriate process area KPI’s, process and control documentation.

Forecasting/ Budgeting

• Drive the preparation and commercial robustness of monthly forecasts and input to MCTC’s strategic business plan.
• Effectively challenge assumptions and model the financial impact of competing ideas.
• Prepare and lead quarterly submissions for grant funding, managing external relationships with Sheffield City Region, Innovate UK and the Advance Manufacturing Research Centre
• Support the development of tools to help improve the forecasting and budgeting process for headcount, projects and P&L.

Knowledge, Skills and Experience

• Fully Qualified Accountant (CIMA, ACCA, ACA or equivalent) with post qualification experience
• Experience working within a manufacturing/ logistics business unit or project accounting role is desirable.
• Experience of accounting systems particularly SAP
• Leadership or line management experience
• Strong Microsoft Office skills, particularly Excel (Pivot tables, formulas etc)
• Demonstrate effective communication across all levels of the business by not only understanding all the detail but also being able to summarise depending on the audience.
• Demonstrate a continuous improvement approach to work, including but not limited to, identifying areas for process improvements and implementing robust solutions

Personal Attributes

• Pro-active, passionate, confident and persistent individual
• Ability to work independently and under pressure to manage conflicting priorities and tight deadlines.
• Comfortable with ambiguity
• Ability to work with operational (non-financial) colleagues,
• Strong attention to detail
• Team player, actively sharing best practice.

Expected salary

Location

Sheffield

Job date

Sun, 10 Mar 2024 08:52:16 GMT

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