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Position title Group Financial Controller

Primary work unit Finance

Responsible to Chief Financial Officer (CFO)

Responsible for A team of up to 7 staff including 3 direct reports

Position status Permanent; Full Time

Hours of work 40 hours per week

Salary Will depend on skills and experience

Our vision Victoria University of Wellington will be a world-leading capital city university and one of the great global-civic universities.

Our mission and purpose

Victoria University of Wellington’s mission is to undertake excellent research, teaching and public engagement in the service of local, national, regional and global communities.

Our values Victoria University of Wellington’s core ethical values are respect, responsibility, fairness, integrity and empathy. These values are manifested in our commitment to civic engagement, sustainability, inclusivity, equity, diversity and openness. We prize intellectual rigour and independence, academic freedom, critical enquiry and excellence.

Victoria – our university

Victoria University of Wellington is New Zealand’s globally-minded capital city university, focused on engaging with Wellington, New Zealand and the Asia-Pacific region and connecting with the world. Victoria values the expertise of its professional staff in supporting and enabling teaching, research and engagement activities.

Victoria is a progressive university with ambitious strategic goals and a commitment to having a professional workforce that reflects the diversity of its community. Professional staff engage with academic staff, students, parents, Government, iwi, community groups and many other external stakeholders. All professional staff are expected to uphold the reputation of Victoria through the way they undertake their work.

Victoria is committed to the Treaty of Waitangi. “Mai i te iho ki te pae” is the Māori Strategic Outcomes Framework which is linked to Victoria’s Strategic Plan.

Mā te rautaki tātou e koke whakamua (via the strategy we strive to move forward together)

For further information about Victoria go to www.victoria.ac.nz and Welcome to Victoria.

Role Description: July 2018

Position purpose

The Group Financial Controller will provide leadership and operational management to a specialist team to ensure the realisation of great customer outcomes for the University and its controlled entities (“the group”).

The purpose of the position is to support and advise the CFO by leading, managing and coordinating a range of financial services, including taxation, treasury, balance sheet and working capital management. The role will also provide reporting insight along with the development and active promotion of appropriate policies and processes to improve the efficiency and effectiveness of operations throughout the group.

As a senior member of the CFO’s leadership team, this role is also expected to contribute strongly to realisation of the broader Finance team objectives including supporting group-wide change initiatives. The Group Financial Controller is expected to provide senior leadership with a strong customer focus via a shared services model of delivery, and to ensure that services are well integrated, information is shared and access to, and quality of, services are maintained and enhanced.

The Group Financial Controller will have an oversight role for maintaining, and improving effective and efficient financial processes and controls across the group, and as required working with internal auditors to improve the overall control environment.

The role is responsible for the leadership of the annual external audit process, including liaison with the external auditors, responsibility for financial accounting standards updates and changes (e.g. International Public Sector Accounting Standards (IPSAS)), and ensuring robust financial control mechanisms are in place to deliver a fast and effective overall year-end process.

Strategic context

Finance’s vision is:

“Passionately achieving great customer outcomes – one conversation, one interaction at a time.”

Finance is truly customer-centric and all members of the Finance team are expected to execute their work with the customer in mind. Keeping the customer at the heart of the function helps ensure that all of our work is necessary and valuable.

Finance plays a lead role in responding to the constantly evolving challenges and opportunities the University faces. Finance own and lead a diverse set of accountabilities including: financial control,, reporting and insight, strategy planning and performance management, treasury management, customer partnering, operational shared services, internal and external compliance, taxation, systems and project execution. Every role counts and every role strongly contributes.

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Key responsibilities

Leadership and Management

Provide leadership and support to a specialist team which delivers its services to customers across the group utilising an efficient shared services model.

Provide professional leadership and direction in all matters relating to accounting control systems, and financial reporting obligations across the University group.

Oversight of the treasury function, including treasury strategy, cashflow forecasting, liquidity management, bank liaison, and mitigation of risks including foreign exchange and interest rate.

Lead the implementation of and ongoing compliance with relevant NZ accounting standards across the University group (e.g. IPSAS).

Ensure that the University’s accounting control systems, financial reporting obligations and financial and taxation compliance requirements are managed and operated to best in class standards appropriate to organisations of this size and complexity. Understand the importance of assuring stakeholders, including the Senior Leadership Team and Council and its sub-committees are well informed on these matters where required.

Effectively lead staff within the Financial Accounting team to ensure that:

The University’s monthly financial results and annual accounts are prepared accurately, on time and that they provide value added insight.

The balance sheet is well understood, effectively and efficiently managed, and that working capital is efficiently maintained. All provisions and accruals are appropriate.

Necessary financial accounting policies are developed, implemented and maintained to achieve high quality internal controls and quality data.

Professional accounting and financial services are provided to the University’s subsidiaries where applicable and in accordance with agreed service levels.

Tax policy requirements are complied with through accurate reporting and timely analysis, and an annual programme of tax risk reviews are coordinated and undertaken via the University’s appointed tax advisors.

Support is provided to University staff, including policy advice and systems and process training, to ensure all decentralised accounting activities are operated within an overarching centrally controlled compliance model.

Commercial considerations strongly feature in our decision making.

Financial processes are simple, complete and efficient.

Inefficiencies are identified and eliminated in a timely manner.

Few internal audit points are raised, and any that do are promptly resolved with a strategic priority given to any points reported to Council and its sub-committees.

Produce quality insightful monthly reports. Variances to plan/budget are promptly identified and where required mitigations implemented.

Timely communication to the CFO of potential or actual risks or issues and the design of solutions and mitigations.

Maintain financial accounting policies and practices – including fixed asset and appropriate valuation methodologies.

Manage compliance with appropriate accounting standards, including the transition and implementation of new accounting standards (e.g. IPSAS).

Deliver projects and ad hoc analysis and advice to a high standard, on-time and in-full.

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Outcome

The University is appropriately financially performance managed.

Treasury risks are well understood and transparently mitigated and communicated.

Timely identification, strong ownership and resolution of any issues – all achieved on a no surprises basis to the CFO and other stakeholders

Effective audit facilitation achieved in a timely efficient manner.

A continuous improvement culture is achieved and maintained.

Customer feedback confirms the team adds appropriate value.

Managing People and Resources

Responsible for the human resources management of direct reports, ensuring staff development plans are aligned with the business plan and that staff are recruited, managed and developed through sound employment practices that are consistent with Victoria’s policies and legal requirements.

Ensure that all areas of responsibility provide effective, collaborative services to execute the required deliverables by providing resources and advice to staff to ensure they thrive in their roles.

Maximise the effectiveness of staff through effective performance management and development, to ensure they achieve their fullest potential and that they are highly engaged.

Ensure that resources across this team are managed efficiently and effectively and are within budget targets.

Provide leadership and direction in all matters relating to health and safety and emergency management ensuring prompt reporting of accidents/incidents, the timely completion of hazard review reports, that safety and emergency management plans are reviewed, completed and submitted annually to the Safety and Risk team and that staff are enabled to participate in health and safety practices in the workplace.

Outcome

Team is highly engaged, motivated, well supported and passionate about achieving Finance’s vision. Team members know expectations, effective one on one, and performance review meetings regularly occur. Active development plans exist for all team members.

Prioritisation strongly features in everything that we do.

Staff are well managed and all employment related policies and legal requirements are met.

Relationship Management

Liaise with other Finance team members to ensure a cohesive approach to building the financial health of the University.

Provide leadership which motivates and encourages innovative, customer–centric and collaborative working relationships.

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Build positive working relationships with the necessary staff across the University and its controlled entities including key positions within Faculties and Central Service Units.

Provide a customer-centric and integrated approach to delivery of services.

Outcome

Stakeholder feedback confirms relationships are effective, robust and collaborative.

Customer feedback confirms expectations have been met or exceeded.

Controlled Entities

Provide financial advice on the consolidation of the accounts of controlled entities into the University’s operating results.

Provide centralised advice and support to all controlled entities. Constantly working with these entities to extract and realise synergies via simplification and/or automation.

Advocate for, and assist with, the development and implementation of policies and procedures to ensure alignment of financial processes and practices across the group.

Lead the group’s annual external audit process.

Serve customers utilising an efficient shared services model of delivery across the wider University and oversee financial accounting and administrative convergence across legal entities.

Outcome

A robust annual audit process is carried out where responsibilities are clear and it is achieved in a timely efficient manner.

Timely identification, strong ownership and resolution of any issues – all achieved on a no-surprises basis for the CFO.

A culture of continuous improvement is embedded.

Key relationshipsThe Group Financial Controller will develop and maintain excellent working relationships with staff in Finance and the wider Chief Operating Officer group. The Group Financial Controller will also work with other stakeholders as required to perform effectively in the position, including but not limited to:

Senior Leadership Team members. Governance group members. Faculty and CSU management and staff. Leaders, governance and wider staff of University controlled and associated companies. External and internal auditors, bankers, advisors, Tertiary Education Commission and IRD. The financial controllers (or equivalent) of the other New Zealand based universities.

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Competencies

Competency Demonstrated by

Client focus Understands and believes in the importance of customer service; listens to and understands the needs of internal and external customers; displays a professional, courteous and empathetic approach; considers equity and diversity issues in interactions; meets and exceeds customer needs to ensure satisfaction

Self-management Effectively plans and organises work to achieve desired outcomes; proactive, remains focused, takes action to overcome obstacles and follows through to completion

Integrity Is fair, open, honest and consistent in behaviour and can be relied upon; is receptive to Māori, Pasifika and multicultural issues; generates confidence in others through professional and ethical behaviour

Innovation Questions the way things are done; encourages discussion, free debate and generation of creative ideas and solutions; learns from past mistakes; generates new and creative ideas to improve the status quo

Communication Clearly and concisely communicates with a wide range of people in all situations, both orally and in writing; effectively listens; understands cultural differences in regard to communication.

Analysis and judgement

Identifies and analyses issues and problems, considers alternatives, makes sound decisions and commits to a course of action

Strategic thinking Understands the big picture and is forward thinking; seeks and accepts challenges and opportunities; develops and communicates a clear, inspiring and relevant direction

Persuading and influencing

Gains the co-operation of others by seeking their points of view; understands differing views and identifies points of agreement; negotiates solutions to meet the objectives of all parties where possible; confidently advocates a preferred approach

People management Uses a variety of styles and methods to develop, motivate and empower others towards achieving their own and organisational goals

Selection criteria – essential

Appropriate Tertiary qualification and membership of the Institute of Chartered Accountants Australia - New Zealand (or equivalent professional accounting body) or similar.

Previous experience at a supervisory level Big Four (or similar) Accounting Practice. Proven level of deep financial acumen and experience in financial accounting. A passion to combine the highest levels of professional accounting with the delivery of high

quality solutions to meet commercial objectives in alignment with approved strategic plans. Proven ability to operate successfully in large and complex organsations, and experience in

landing transformational change. This will include strong persuading and influencing skills and experience.

Proven ability to communicate verbally and in high quality written form at the Chief Executive and Governance level and to non-financial oriented audiences .

A demonstrated ability to design, implement and manage financial processes, policies and procedures.

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Highly experienced in producing high quality documents and reports in Microsoft Word, Excel and Powerpoint.

Experience with large financial systems. Highly experienced in effectively leading and managing staff.

Selection criteria – desirable

Knowledge of the University, tertiary or public sector environments. Experience in Oracle eBusiness suite or Oracle ERP or similar.

Delegations

TBC

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