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Chief Financial Officer

Employer
Caroline Baker Private Office
Location
London, United Kingdom
Salary
Competitive Salary
Closing date
May 17, 2024

View more

Job Role
CFO
Sector
Finance
Contract Type
Permanent
Hours
Full Time
Job Description: Chief Financial Officer

Company Profile:

Caroline Baker Family Office Ltd (“CBFO”) is a Group of companies providing a range of services to the HNWI & UHNWI community. Founded by Caroline Baker in 2007 the business has evolved to provide services in the ultra-prime property and concierge space.

CBFO trades through a number of separate companies, delivering family office services and a

project management offering in London and New York, and at its associated offices in Paris and Los Angeles. CBFO clients are predominantly high net worth families and individuals, with 95%

emanating from outside the UK. With everything under one roof, from design consultancy through to project management and construction, full property management and administration services, CBFO clients are reassured that all their needs are managed by a single organisation, in which they can place their full confidence and trust. This trust and confidence are cornerstones of CBFO’s offering and is strictly upheld by all team members.

The dedication to providing total turnkey solutions to clients has allowed CBFO to substantially increase its turnover which is projected at over £5 million for the current financial year. The budgeted forecast for the next twelve months is also projected to increase turnover by at least 30/40%.

CBFO prides itself in acting for the most prominent families and individuals in London and overseas to ensure their property needs are managed to the highest standards. As a result, it has achieved the enviable position of being the “go to” provider of these services in London for top agencies such as Savills, Knight Frank, etc, Property Developers such as Finchatten, Studio Indigo, etc and Private Client lawyers such as Macfarland’s, Farrer’s, Boodle Hatfield, etc. CBFO is now recognised as the premier ultra prime property management company in London.

The role of Chief Financial Officer (“CFO”) is an established role within CBFO, and the candidate

will be joining at a time of expansion with an excellent team in place to support them. This is key role within the CBFO to help grow and develop the business of CBFO. The CFO will be an integral part of the journey to the future success of the business.

www.carolinebaker.co.uk

Position Overview:

We are seeking an accomplished CFO to lead the financial management and strategy for our luxury property management business. The CFO will be responsible for overseeing all aspects of financial operations, including budgeting, forecasting, and financial analysis, to drive profitability and sustainable growth. The ideal candidate will possess a strong background in finance, exceptional leadership skills, and a passion for excellence in a service industry. This is key role within the Group to ensure management of the Group’s finances and the running of the financial operations of the Group, including the Finance Department. The provision of information to the Board and the Founder Caroline Baker by the CFO will be on a regular basis and is the ultimate responsibility of the CFO.

Key Responsibilities of the Role:

Financial Strategy and Planning:

• Develop and implement strategic financial plans to support the long-term growth objectives of

the luxury property management business.

• Conduct in-depth financial analysis to identify opportunities for revenue enhancement, cost

optimisation, and operational efficiency.

• Collaborate with senior management to set financial goals and targets aligned with business

objectives.

Financial Systems Development:

• Develop the Groups financial systems to allow it to provide best in class financial reporting both internally and externally to the CBFO client base.

• Develop the external financial offering to clients and build on the existing services to include

systems reporting and integration with client’s family offices.

• Provide advice to the Group on the industry standards and trends that will allow the Group to

stay ahead of the competition.

Budgeting and Forecasting:

• Lead the annual budgeting process, working closely with department heads to develop

comprehensive budgets and financial forecasts.

• Monitor budget performance against targets, identifying variances and implementing corrective actions as necessary.

• Provide regular financial reports and analysis to senior management, highlighting key financial

metrics and trends.

Overall Management of the Group’s Cashflow:

• Managing Group cashflow within Group companies and liaising with external organisations on

all aspects of the Group’s cash resources.

• Liaising with department heads on debtor recovery and cash recovery.

• Producing regular cashflow projections for the Directors.

• Manage cash flow, liquidity, and financial risk, optimising the use of resources to support

business operations and investment activities.

Financial Management and Reporting:

• Oversee day-to-day financial operations, including accounts payable, accounts receivable, and

financial reporting.

• Overall responsibility for the Group companies’ management accounts and ensuring that they

are delivered within the agreed timeframe.

• Providing and interpreting the financial information provided each month, including analysis of

variances and exceptional items.

• Review with the Directors the financial performance each month and highlighting trends and

changes in the Group’s financial results.

• Ensure compliance with accounting standards, regulatory requirements, and internal controls.

• Ensure strict control of the substantial client funds under management of the Group and

compliance with legal requirements such as money laundering legislation.

Departmental Management:

• Management of the team’s performance, their roles, and workloads on a day-to-day basis.

• Ensuring inter-departmental communication with team members is e.icient and timely.

• Monitoring and implementing training of the team either internally or externally as required.

• Recruitment of team members as the department grows to accommodate the projected growth of the Group.

VAT and other taxes:

• Responsibility for high level VAT and tax queries.

• Maintaining a high level of VAT knowledge in respect of the property management industry in

order to understand the complications that may arise due to the Group’s transactions.

• Dealing with one-o. VAT issues as they arise in conjunction with external VAT advisors, notably

Rawlinson & Hunter.

• Maintaining the VAT status of the Group and liaising with Customs & Excise on queries raised by them.

Payroll and Benefit taxes:

• Overall responsibility for the Groups compliance with UK payroll and benefits taxes.

• Assisting the Group’s HR function to solve both Group and client related payroll and benefits

queries.

• Keeping up to date with all UK related legislation in respect of payroll and benefits taxes in order to understand the issues that may arise relating to the Group’s and client’s employees.

• Dealing with one-o. payroll and benefit issues as they arise in conjunction with external

advisors.

• Ensuring that all payroll and benefits statutory filings are made on time. Liaising with the external audit and tax functions:

• For annual accounting including the provision of audit and tax packs and information.

• Liaising with external auditors on timetables for attendance for the audit.

• Responsibility for ensuring deadlines are managed and maintained.

• Negotiation of professional advisors’ fees to ensure the Group achieves value for money.

• Providing tax information to the external accountants for completion of the corporation tax

returns.

• Liaising with clients’ professional advisors in the UK and overseas when required.

Ideal Candidate:

• Qualified Accountant with required qualification; ACA, ACCA, ICMA, etc with post qualification

experience of at least 5-7 years.

• Track record of working in fast moving and growing entrepreneurial businesses that are

dedicated to service with customer focused activities.

• Experienced financial modeller with proven skills in all financial areas including budgeting,

forecasting, and financial analysis. Advanced Excel skills essential.

• Strong analytical skills with the ability to present complex financial data to the senior

management team in a clear and concise fashion that will be understood.

• Excellent leadership and interpersonal skills, with the ability to inspire and motivate teams to

achieve results.

• Has a good understanding of the needs and requirements of HNWI’s and UHNWI’s and the

ability to communicate with this client base.

• Experience of working under pressure for demanding clients and able to cope with di.icult and

sometimes challenging situations.

• Aptitude for decision-making and problem-solving if an environment which can often be time

critical.

• Able to act as an ambassador for the Group when dealing with external organisations.

• Able to use own initiative and is an individual that is comfortable making decisions on their own.

• Prepared to work in a fast-moving environment that requires the person to be flexible in the way they respond to issues as they arise.

• Exceptional IT skills and ability to support and help implement financial systems that will be

required to ensure the productivity of a growing organisation.

• Passion and a commitment to delivering exceptional service and value to clients.

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