Head of Reconciliations and Purchase Ledger

JOB TITLE                        Head of Reconciliations & Purchase Ledger

IMMEDIATE MANAGER       Finance Director, Finance Operations

JOB PURPOSE

Reconciliations & Analysis

Responsible for the co-ordination and reconciliation of the designated bank accounts. The process includes the management of NetSuite settings to ensure the most effective and efficient use of the auto-posting facility. As part of this process, the Head of Reconciliations and Analysis is responsible for identifying and validating un-posted transactions and arranging for them to be posted.

Purchase Ledger

Responsible for the processing and paying of MFG Suppliers (excluding Fuel). The process includes the management of NetSuite settings and how Verisae works in conjunction with NetSuite, ensuring all invoices are processed in a timely fashion to a high degree of accuracy, and that all payments are made within their terms. As part of this process the Head of Purchase Ledger is responsible for ensuring there are minimal debit balances and that all aged items are identified and resolved.

The Head of Reconciliations & Purchase Ledger reports to the Finance Director, Finance Operations and is required to effectively communicate and co-ordinate with, Regional Managers, Accounts Department, Senior MFG Management and all other Head Office departments and personnel.

The Head of Reconciliations & Purchase Ledger will assist with the accounts department as required with various ad hoc financial accounting, analytical and reporting tasks. The Head of Reconciliations and Analysis may be required to assist other departments with financial and administrative activities from time to time.

MAIN ACCOUNTABILITIES

Reconciliations & Purchase Ledger

• Takes an active role in the provision of operational management information
• Responsible for suggesting improvements to and developing aspects of the NetSuite and DRS (Orange) reporting systems, ensuring QMT is relevant as processes change. Key areas for improvement are with respect to streamlining and automation of processes and bringing time saving efficiencies to the team
• Ensure all MFG bank accounts reconciled efficiently (to the end of the previous day for daily banks)
• Ensuring that all payments are made by Purchase ledger within terms and that the remaining open balances are reconciled to supplier statements based on the rotational reconciliations framework set down for the team.
• To ensure all cash receipts and payments are allocated on Sales Ledger and Purchase Ledger
• To ensure that balances on the debtors’ ledger & creditors’ ledger are in line with expected cash inflow & business spend post month end
• To assist with cash flow management
• To assist in the financial ‘take-on’ of acquired sites.
• To assist in the divestment of sites
• To lead a high performing, motivated team that are able to process large volumes accurately and efficiently
• To suggest improvements to and further develop the systems, and processes of both the reconciliations Team and the Purchase Ledger Team
• To lead projects as required by the Finance Director, Finance Operations
• Perform other ad hoc nonfuel duties as required (for accounts and other departments)
• Lead development of processes to enable business to adopt new card types, loyalty schemes etc as required by the fuel companies and card acquirers
• Lead the response to audit demands that are complex and high volume

WORK CONTEXT

The post is based at MFG’s Head office in St. Albans, but some business travel may be required from time to time. Additional hours may also be required to be worked from time to time over the contracted working hours to ensure that the needs of the business are met. 

COMPLEXITY

The main sources of complexity are:

• To co-ordinate workload to achieve complimentary and competing deadlines
• To reconcile high volume and high value debtors, cash flows and creditors
• To ensure that processes are scalable with the expansion of the business
• To resolve queries raised by the Franchisee Network and to raise the levels of financial competence in the network

KNOWLEDGE & SKILLS REQUIRED

• At least 8 years’ experience leading high volume, complex processing teams
• A good understanding of the trading account process, accounting reconciliation techniques, the data requirement and input process of DRS and of NetSuite
• Demonstrable leadership skills, experience managing and motivating large teams
• Effective communication skills: verbal, electronic and written
• Highly computer literate with excellent working knowledge of Microsoft Office and NetSuite programmes
• Excellent organisational skills with the ability to prioritise tasks and to work to deadlines
• Ability to achieve targets whilst maintaining accuracy
• Ability to develop positive working relationships with colleagues and external contacts
• Rational decision making
• Strategic thinking
• A flexible approach to achieving team priorities