Chief Financial Officer

FWB; City of Edinburgh; On-site; GBP 100,000 - 130,000; Full time

Job summary

A leading Scottish development bank is seeking a Chief Financial Officer (CFO) to oversee financial strategy and operations. The successful candidate will lead reporting and budgeting, ensuring compliance with public finance regulations. Key responsibilities include engaging with stakeholders, managing financial reporting, and contributing to governance. The ideal candidate will possess an accounting qualification and a strong track record in finance leadership within regulated financial institutions, ensuring mission-driven financial management.

Qualifications

• Proven track record as a senior leader in finance at an Investment Bank or similar.
• Experience with SME finance, infrastructure, project finance and principal investments.
• Extensive knowledge of financial management and reporting frameworks.

Responsibilities

• Lead development of financial strategy and budget.
• Manage finance processing and reporting.
• Ensure compliance with Scottish Public Finance Manual.
• Engage with key stakeholders including the Scottish Government.

Skills

Senior leadership in finance

Strong communication skills

Problem-solving

Knowledge of regulatory environment

Education

Accounting qualification

Membership in a relevant professional accounting body

Job description

Established in November 2020, the Scottish National Investment Bank (“the Bank”) is Scotland’s development bank. Now in its 5th year, the Bank has committed over £991 million of its own capital and crowded in an additional £1.4 billion from other investors to support a diverse range of business, all delivering long-term impact for the people of Scotland.

The Bank is an impact investor, focused on investments which deliver both commercial returns and mission impacts. Operationally independent from government, the Bank invests in businesses and projects based in Scotland to deliver long term, patient debt or equity investment where there is a gap in private market support.

The Bank’s missions are:

• Net zero:Address the climate crisis, through growing a fair and sustainable economy
• Innovation:Scale up innovation and technology, for a more competitive and productive economy
• Place:Transform communities, making them places where everyone thrives

The Opportunity

Reporting to the Chief Executive Officer, the Chief Financial Officer (CFO) will be a key member of the executive management team and an appointed Executive Director on the Bank’s board. This individual will lead the development of the financial strategy and budget for the Bank. As an important member of the executive team, they will have a crucial leadership role with specific responsibility for managing the finance and operations function including finance processing and reporting, financial planning and analysis, investment operations, procurement, and associated business partnering.

The CFO will lead the Bank’s finance function which provides the financial management, internal and external financial reporting and accounting requirements of the Bank.

Key responsibilities include:

• Leading on all aspects of finance in support of the Chief Executive, including their role as Accountable Officer, in fulfilling the duties and functions of the Bank.
• Providing input and challenge as a member of the executive team and key committees in relation to the operation of the business, management of issues / challenges, strategic direction and achievement of the Bank’s mission-focussed objectives.
• Financial responsibility for the Bank as a public body and ensuring the Bank is compliant with all aspects of the Scottish Public Finance Manual.
• Engaging with the Scottish Government and other key stakeholder and interest groups including external auditors. Working closely with the Shareholder on budget allocations and all associated financial matters.
• Providing financial reporting and commercial finance advice to the Board as required.
• Defining and maintaining the financial management and accounting approach and supporting policies, frameworks and models, consistent with the Bank’s financial targets and risk appetite.
• Ensuring effective capabilities and models are in place to provide robust tax, finance and reporting support to the investment origination and investment risk teams.
• Embedding the Bank’s finance policies, models and frameworks through effective communication, promotion and training in relation to Finance and Reporting.
• Contributing to the main governance of the Bank, including as a member of the Bank’s Board, as well as representing the Executive at relevant committees.

Candidate Profile

The successful candidate will have:

• An accounting qualification and be a current member of a relevant professional accounting body.
• A proven track record as a senior leader in the finance function within an Investment Bank or similarly regulated financial institution (preferably with a focus on alternative investments including SME finance, construction/development finance, infrastructure and project finance and/or principal investments).
• Considerable knowledge and experience of developing and applying best practice finance, reporting and valuation frameworks, methods and tools.
• Understanding the regulatory environment the Bank operates within and ensuring regulatory requirements are embedded within the Bank’s policies and frameworks.
• Strong communication skills and the ability to influence positive outcomes by engaging key stakeholders and articulating vision.
• Prior experience of overseeing areas of finance, including (but not limited to) tax, financial reporting, treasury and planning and analysis.
• Knowledge and detailed understanding of accounting frameworks, valuations, modelling, pricing, tax strategy and reporting, and treasury activities.
• Knowledge of the regulatory environment and regulatory requirements relating to UK financial services institutions and the operations of the Bank.
• Problem-solving and decision-making skills, with the ability to analyse complex information to identify the key issue/action and drive resolution.

C1FO