Senior Finance Analyst

Job Description

About the Royal Academy of ArtsThe Royal Academy of Arts (RA) is one of the UKs foremost arts institutions. Founded in 1768, it has a unique position in being an independent, privately funded institution led by eminent artists and architects. The RAspurpose is to be a clear, strong voice for art and artists. Our public programme promotes the creation, enjoyment, and appreciation of the visual arts through exhibitions, education, and debate.The RA is an independent charity. It does not receive revenuefunding from the government so is reliant upon the support of visitors, donors, sponsors, patrons, and loyal Friends. We are an innovative and forward-looking organisation, and also immensely proud of our heritage.We are best known for our world-class programmeof exhibitions, including Ai Weiwei, Abstract Expressionism, Antony Gormley, Picasso and Paper and our current exhibitions Tracey Emin / Edvard Munch and David Hockney: The Arrival of Spring, 2020, Normandy, as well as the annual Summer Exhibition, the worldslargest open submission exhibition.About this roleWere looking for an enthusiastic and experienced Senior Finance Analyst to join our team. Whilst being a confident people-person who enjoys working collaboratively with various stakeholders across a complexarts institution, youll also have a real passion for data-analysis, financial modelling and reporting, motivated to "get behind the numbers" to provide valuable insights to support decision-making.This is a chance to join a hard-working, respected, and energeticFinance team, at one of the worlds major art institutions.What benefits do we offer We offer a very generous pension scheme, contributing up to 10% of your salary into a defined contribution scheme. In addition to 25 days holiday and 8 public holidays eachyear, we close between Christmas Eve and New Year, allowing staff further paid leave. We encourage staff to attend free History of Art and life drawing classes on site. We also have a staff choir, staff gallery and running, football, and craft clubs. Bestof all, we have reciprocal agreements with many leading museums and art galleries in London and New York, enabling you to enter for free with your staff pass.How to applyTo apply for this position, candidates must complete an application form. For furtherinformation about this role, and to find our application form, visit our website via the button below. Closing date for applications: 1 August 2021 (midnight)Interviews likely to be held: 11 & 12 August 2021JOB DESCRIPTIONJob Title: Senior Finance AnalystDepartment: FinanceReports to: Deputy Director of Finance (Decision Support) MAIN OBJECTIVES Act as the senior finance business partner to designated departments (including Exhibitions and Audience & Experience), developing excellent working relationshipsto provide insight, analysis, advice and support on various aspects of financial and commercial decision making. Support two Junior Finance Analysts to provide excellent business partnering support to their designated departments (including RA Enterprises(commercial activities), Corporate Services (support functions), RA Schools, Learning and Collections) whilst supporting their ongoing development. Prepare timely, relevant, and accurate management reporting and insightful financial analysis to enable performanceevaluation, budgetary control and promote accountability. Lead ongoing improvements in financial reporting and data analysis, month-end close processes, budgeting, forecasting and medium-term strategic and financial planning.MAIN DUTIES Act as the key financebusiness partner for designated departments, regularly meeting and liaising with stakeholders to ensure appropriate reporting, budgeting and forecasting and to provide ad hoc support to assist with decision making. Manage and support ongoing development oftwo Junior Finance Analysts to help them in fulfilling the objectives of their role. Produce timely, relevant and accurate monthly reporting for designated departments, including preparation of prepayments and accruals, accrued and deferred income, and deliveryof any other month-end close processes in line with accounting standards and the monthly reporting timetable. Provide useful and insightful financial analysis and reporting for all owned areas for inclusion in the monthly Management Information Pack ("MIP").Report on key performance indicators (KPIs) and support ongoing improvements in KPI reporting from Tessitura (ticketing, membership, and CRM system) and other data sources. Support DDS with production of the MIP (distributed internally across the RA and tovarious committees), which includes KPI reporting, variance analysis, ongoing review and reporting of risks and opportunities tracking, and cash flow forecasting and reporting. Keep the DDS and budget holders regularly informed of any changes, risks or activitiesimpacting on the financial performance within designated departments, and to ensure all known risks are kept up to date in the Risk Register. Drive ongoing month-end process and reporting improvements and efficiencies. Ensure all reports are produced as efficientlyand accurately as possible, and are useful, useable, and used by their intended audience. Lead key stakeholders through the annual budget and quarterly forecasting processes, challenging and analysing budget and forecasting submissions, and ensuring accuracyof financial projections before entry into the accounting systems and other reporting tools. Work closely with DDS and Senior Managers on the annual update of the Medium-Term Plan ("MTP"), developing models for new business initiatives, challenging financialplans and assumptions and providing scenario analysis to help understand risks and opportunities in achieving targets. Support the exhibition audience forecasting process, preparing financial modelling on visitation, capacity planning and pricing. Ensure allchanges are captured as part of the planning cycle and presented to respective stakeholders and committees for approval. Working closely with the Sales, Marketing and Loyalty team to monitor, forecast and report on Friends membership performance; set targetsfor acquisitions and retention; and provide ad hoc support via financial modelling and analysis to support decision-making in this key income area. Ensure that correct authorisation procedures are followed for invoices and expenses liaising with the AccountingServices team. Provide support to non-finance stakeholders in the effective use of finance systems; in using and understanding finance reporting; and generally improving adherence to financial policies and procedures. Support external and internal audit processesand provide input into the preparation of statutory reporting and accounts, where required. Undertake any other duty, which may reasonably be allocated by the DDS, Director of Finance, or other Senior Officer. Ensure that Health and Safety policies, proced