Senior Commercial Accountant

  • Location:

    London

  • Specialism:

    Accountancy & Finance

  • Salary:

    £65,000

  • Contact:

    Iman Sharma

  • Contact email:

    Iman.sharma@altumconsulting.co.uk

  • Job ref:

    4690

  • Job Start date:

    2022-07-25

  • Expiry date:

    2022-08-18

This role will report into the Commercial Controller and will be a key part of the Commercial Finance team. You will work with the Commercial Controller to improve the level of commercial acumen across the Commercial Finance and wider Agency teams.

You will have a close working relationship with your client leads and with the other Commercial Accountants. You will be responsible for challenging your client leads, in terms of revenue growth opportunities, both within the existing Business area, as well as cross-selling opportunities across the other businesses. You will be responsible for driving client margin improvement and leading change and best practice in relation to finance in your client teams and assisting/training others to do the same on other clients. You will be part of a dynamic team which strives to ensure best commercial practice is at the heart of all agency business transactions.

Key Responsibilities
  • Thought Leadership and Propagating Best Practice
  • Ensure Management Information is understood and used by finance and client teams, including the management and monitoring of all margin improvement plans
  • Manage our approach to conflict management and ensure adherence 
  • Provide thought leadership/ guidance on Pricing to agency and Commercial Finance teams
  • Identify and suggest alternative pricing mechanisms – e.g., output based rates for existing clients
  • Review and feedback on contracts and NDA’s and prepare commercial submissions for pitches (integrated new opportunities)
  • Represent the Commercial team in meetings as required
  • Help lead the internal roll-out and management of bespoke finance training to the business
  • Lead best practice on internal/external reporting, compliance & NWC
  • Provide ad-hoc support to Commercial Controller on special targeted projects across key functions
  • Partnership with the Client Leads
  • Ensuring timely reporting in adherence with internal timetables
  • Reviewing and challenging the business pillar allocations with the client leads
  • Identifying and flagging potential cross-selling opportunities on clients
  • Working with the client leads on resource reforecasting and ensuring this is recorded in the capacity planning tool, advising on best practice and margin improvement
  • Building a margin improvement plan for specific accounts and monitoring progress against it. Overseeing all margin plans and advising on progress
  • Reviewing the KPIs with the client leads and providing narrative on areas as appropriate and making an improvement plan
  • Regular catch-up with the client project managers to understand the latest scopes, staffing, capacity planning and job progress on clients
  • Main point of contact for your client leads on financial best practice and commercial discipline
  • Client Reporting
  • Leading client negotiations on your portfolio of clients and being the key contact for the client procurement departments
  • Preparing accurate and timely client reconciliations
  • Lead any client audits on your accounts
  • Understand your client contracts and ensure all are aware of contractual points
  • Accounting for foreign exchange in line with the client contract and Business policies
  • Ensuring the revenue tracker is kept up to date at all times and matches exactly to Maconomy reporting each month-end
  • Posting any revenue accrual or deferral journals in a timely manner for month-end reporting
  • Providing narrative for any revenue accruals and deferrals, particularly those over 30 days
  • Managing Staff
  • Managing and mentoring a Commercial Accountant
  • Setting objectives and targets for yourself and the Commercial Accountant and assisting with the overall target setting process
  • Participate in annual appraisals and regular catch-ups and follow up on action points as agreed
  • Providing constructive feedback to ensure job satisfaction and company objectives are met, including working closely with Business management to ensure own requirements are fulfilled
  • Compliance
  • Ensuring compliance with ICFR regulations in relevant areas, particularly in relation to revenue recognition
  • Assisting in any ICFR or other audits (external/internal)
  • Raising queries if ICFR regulations are not clear or require interrogation
  • Job Management
  • Working closely with the Commercial WIP Managers to ensure all jobs are opened, maintained and closed efficiently and effectively.
  • Working closely with the Commercial WIP Managers to ensure regular timely billing and review of all jobs to ensure NWC is managed effectively.
  • Ensuring best commercial practice (including use of Maconomy) in all areas of job management
  • Tracking jobs regularly and highlighting areas of over service
  • Ensuring rate cards and estimate are up-to-date and accurate
  • Ensuring best practice in relation to foreign exchange hedging
  • NWC Management
  • Regular review of aged debtors and accrued revenue balances
  • Chasing up debtors directly with the client where necessary
  • Liaison with Finance Plus as appropriate, including monthly phone calls to review overdue invoices
  • Ensuring Provisions are kept at WPP acceptable level for Accrued Revenue, WIP and Debtors.
  • Training the finance and non-finance teams in respect of best commercial practice
  • Client Profitability
  • Tracking jobs and proactively challenging your client teams on overruns
  • Reviewing all SOWs and push back where necessary
  • Regular review of rate cards and standard practice
  • Ensuring efficient planning of staff at appropriate levels
  • Preparing and analysing reports for the Commercial Controllers and the client teams in respect of client profitability, over servicing, recoverability across all clients
  • Ad-hoc
  • Client analysis as requested by Commercial Controller or Finance Directors
  • Liaise with client needs on day-to-day client procurement requests
  • Ensuring that all queries are responded to with accurate and timely information