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Working for Lumos
Director of Finance
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Title: Director of Finance
Reports to: Chief Executive Officer
Responsible for: Financial Accountant, Finance Business Partner
Usual office Base: London, UK
Named after the light-giving spell in Harry Potter, Lumos is an international children’s organisation founded by J.K. Rowling in 2005. We have a bold mission: to have a world without orphanages and other institutions by 2050. Research shows the dramatic harm that institutional care causes to children and the proven benefits of the alternatives: community and family care. Lumos tackles the root causes of family separation – poverty, trafficking and discrimination – and transforms care systems around the world. We speak up on behalf of children trapped in institutions and reunite them with their families. And we change education, health and social care systems so every child can thrive.
- To provide strategic financial advice to the Executive Leadership Team (ELT), the Finance Committee (FC) and the Board to ensure the fiscal robustness of existing operations and proposed developments.
- To ensure that accurate and complete financial records are maintained.
- To ensure that accurate, timely and meaningful financial reports are prepared and presented to the ELT, the FC and the Board.
- To plan and oversee the budget preparation and monitoring processes.
- To prepare relevant written financial policies; obtain their approval; and review them as prescribed.
- To ensure compliance with relevant accounting standards and statements of recommended practice
- To manage the Charity’s cash resources and investments
- The Director is a member of the ELT and is expected to play an active part in its proceedings and decision making.
- Provide professional leadership to finance colleagues in the countries where Lumos is working.
Providing strategic direction
- Provide financial information and insights to support strategic decision making across the organisation working closely with other ELT members.
- Lead on all aspects relating to the FC; responding to its legitimate requirements; and working closely with the Honorary Treasurer.
- Monitor Lumos’ investment strategy and the performance of the investment manager, ensuring regular reports are submitted to the FC.
- Lead the annual budgeting process, monitoring its accord with the approved strategic plan and appraising critically submissions which are made.
- Ensuring there are strong financial controls in place in all countries where Lumos works and that appropriate steps have been taken to mitigate risk.
- Maintain awareness of sector trends to ensure that Lumos is following best practice and introducing new developments where appropriate
- Ensuring relevant and timely financial information is provided to satisfy the requirements of grant makers – currently managed by the Finance Business Partner.
- Ensure that all financial information included in operational reports, such as fundraising reports and programme reports, is consistent with the Charity’s accounts having particular regard to different accounting practices in different countries.’
Overseeing financial operations
- People management of the finance team to ensure maximum engagement in Lumos and their work.
- Work with finance leads in country offices to establish a coherent finance function across the organisation whilst adhering to local statutory requirements.
- Ensure that the accounting processes are designed to gather, record and update accurate and meaningful financial data about the organisation’s performance including managements accounts and cashflow forecasts.
- Regularly review the financial policies and procedures. Provide training to ensure effective implementation and compliance.
- Lead the external audit process and preparation of financial statements for the Lumos Foundation, Friends of Lumos USA Ltd and trading subsidiaries and liaise with US colleagues on the preparation of annual accounts for Lumos Foundation USA.
Ensure organisational safeguarding strategies reflect statutory requirements and best practice. Ensure these are understood and implemented within the area of responsibility. There is a proactive and positive Safeguarding Culture. The organisation meets its statutory Safeguarding requirements. Strategic risks are effectively managed
Lumos is currently undergoing a major organisational and culture review. Senior managers are likely to be responsible for substantial areas of work. The Director of Finance will be expected to develop good working relationships with colleagues and to possess the ability and willingness to respond flexibly to changing circumstances and needs. Occasional overseas travel will be required.
- Awareness of the financial considerations for a charity operating internationally
- Skilled in presentation and interpretation of financial data for non-financial managers and trustees
- Good written and verbal communication skills
- Experience of effective financial accounting systems
- Knowledge of patterns of voluntary sector funding arrangements
Desirable but not essential
- Knowledge of US 501c3 non profit accounting (e.g. revenue recognition, public support testing, 990 reporting)
- Working knowledge of GAAP and other regulatory requirements in the US financial field
- Professional accountancy qualification
- Able to travel and work flexibly as required
- Experience of charity financial reporting requirements
- Experience of managing a financial function
General Safeguarding statement:
Lumos recognises that the rights of safety and security are aligned with its core mission of ending institutionalisation. Effective and robust safeguarding sit at the heart of our mission and values, and accordingly, Lumos is committed to ensuring the safety and protection of children and vulnerable adults in all its work. We expect all staff, associates and volunteers to share this commitment. Lumos will carefully screen all applicants and any offers of employment are subject to appropriate employment and background checks, as well as suitable references from previous employers.
Right to Work:
If you do not already have the right to work in the UK, please think carefully before applying. This is because even if the role is sufficiently skilled to qualify for sponsorship, we will be unable to sponsor you if there is a suitably qualified settled worker available to fill the role (this is known as the ‘resident labour market test’) unless you are currently in the UK and your immigration status and qualifications mean that the resident labour market test will not apply in your case.
Lumos is committed to safeguarding and promoting the welfare of children, and applicants must be willing to undergo child protection screening appropriate to the post, including checks with past employers and criminal records checks where legally permitted.