Financial Transactions Manager
Job Title: Financial Transactions Manager
Purpose of the role:
Working with the Financial Transaction Controller to ensure the smooth running of the Team. Working with the FTC on process improvement within the team and ensuring it is fit for purpose now, and with the continued planned growth. Monitor and instil cash compliance and good process adherence across all sites, and escalate through the appropriate routes where this is not happening. Make sure the team meets all deadlines, and that the work is delivered to the correct standard and quality. Responsible for awareness of the teams SLA, and delivery of those standards at all times.
Specific duties to include:
- Daily management of a team of 11
- Overall responsibility for the accurate reconciling and posting of all the daily takings information onto the system for the Group.
- Ensuring the team are delivering to their SLA at all times, and during times of growth and churn within the team, ensuring that standards do not drop. Including but not limited to:
- Takings are processed daily
- Ensuring all queries are followed up daily with the individual businesses and the relevant Assistant Management Accountant Banking to resolve as necessary
- No outstanding bank queries >7 days old and no unresolved queries un-escalated >4 days old
- Ensuring the daily posting of all identified BACS payments received, and the accurate reconciliation of BACs Control on a monthly basis with no unresolved items >15 days left on BACs control
- Ensuring on an ongoing basis that no items >60 days are left on Takings Differences Control
- Ensuring the reconciliation of the month-end Takings position for by WD2 with no differences left unresolved at month end over 3 days old.
- Ensuring the accurate reconciliation of the Non-PMS Sales Ledger, BACs Control, Takings Differences Control, Petty Cash and Till Float Balance Sheet accounts by WD7 and sign off by the FC by WD8 on a monthly basis
- Ensuring no unauthorised unbanked cash over 3 days old
- Ensuring no BACs posted to pre-completion BACs after apportionment signed off and journal posted,
- Ensuring unmatched items in the bank are held in the Bank or BACs Control and queried daily.
- Ensuring unreconciled cashbook items not in the bank are held in Takings Control and are unreconciled items on the Bank. There are no unreconciled items over 4 days old that have not been escalated.
- Alongside the FC, resource planning for the team, and ensuring we are on the front foot for the natural churn within the team as a result of career advancement.
- Having in-depth knowledge of the end-to-end Takings process. Suggesting efficiency and reporting improvements where appropriate, encouraging them from the Takings team and getting them approved by the FC/FD. Ensuring the Takings team support the businesses to improve their cash up and Takings process, minimising daily differences and unposted BACs, particularly cash.
- Working with the Takings Supervisor, and ensuring all control accounts are reviewed following month-end close, actions identified and picked up, and a regular review process is undertaken with individuals to ensure progress is made. Continually driving the SLA requirements through to the balance sheet.
- Delivery to sufficient standard of all non-takings related month-end tasks, and ensure they are delivered within deadlines; petty cash, float reconciliations, company credit card processing.
- Regular review and re-evaluation of the SLA for the team, and drive continuous improvements
- Ensure 20% audit of company credit cards is completed each month, and compliance to the company credit card policy is maintained. Escalating any issues found in a timely manner.
- Any other tasks as required
Specific skills and experience required:
- Strong academically - educated to degree (equivalent) level or having sufficient experience in a similar level role
- Thrives in a fast-paced, constantly changing environment - flexibility is key
- Excellent IT skills including advanced excel, and confident on various management reporting systems
- Strong attention to detail, and able to deliver right-first-time results quickly without getting lost in the detail.
- Continuous improvement and questioning mind - should always be asking if there is a better way to do things
- Deadline focussed, and willing to put in the effort required to ensure they always meet them
- Understanding of small companies and how they work, but needs big company background to understand/suggest best practice principles and help to drive change
- Line Management experience, with proven ability to get the best out of their team, ensuring they are highly motivated and delivering to a high standard at all times