LW Entertainment (LWE) is an entertainment company with musical theatre at its heart.
Founded in 1977, we exist to represent, manage, and licence the work of the most commercially successful composer of all time, Andrew Lloyd Webber. We oversee the portfolio of brands under Andrew Lloyd Webber (ALW) Musicals and collaborate with best-in-class partners to extend into traditional and non-traditional entertainment mediums, reaching existing and new audiences all around the world.
The Financial Controller is principally responsible for the financial and regulatory compliance of the Company, including the timely reporting and payment of all payroll taxes, VAT, corporation tax and any other direct/in-direct taxes as necessary. The Financial Controller manages a financial processing and accounting team, to ensure accurate balance sheet, P&L and cash accounting and record keeping and the timely and accurate processing of royalties, accounts payable, accounts receivable, vendor payments and cash transactions. The Financial Controller ensures that the accounting ledgers accurately reflect the cash flow position of the company and the Company’s cashflow forecasting model is kept up-to-date. The Financial Controller has oversight of the Company’s bank accounts and cash balances and ensures foreign currency balances are managed effectively. Other areas of responsibility includes user management of all finance information systems and applications, payroll and tax reporting. The role manages a team of 6.
Main Duties:
Financial Performance, Analysis and Control:
- Oversee the monthly management accounts process ensuring they are produced accurately and on time.
- Manage the Finance team to prepare quarterly management accounts reviews with the Heads of Department and highlight material variances and key issues for discussion.
- Assist with quarterly financial information for the LWE board including commentary on any key variances.
- Ensure appropriate financial controls and processes are in place and that all balance sheet accounts are understood, reconciled, reviewed regularly and controlled.
Cash Flow & Treasury Management:
- Responsible for cash-flow management for UK & US companies plus foreign currency planning.
- Review cash flow forecast prepared by Management Accountant monthly for review with the Finance Director and CFO. Where issues are identified, these should be discussed at the earliest opportunity.
- Review of weekly purchase ledger payment runs as well as any ad hoc manual payments.
Banking:
- Provide information for our banking partner’s Annual Review including 3 year forecast for profit & loss, balance sheet and cash flow.
- Quarterly loan reporting including reporting on financial bank covenants.
- Ensure all access permissions for online banking are updated regularly.
Audit:
- Lead the delivery of final audited group accounts for approval and sign off within 6 months of the year end.
- Liaise with tax advisors, external accounts producers (US & UK) and auditors as necessary and manage the timeline to completion of all accounts and reporting obligations.
- Ensure all materials needed for Annual Audit Committee are prepared and distributed in a timely manner and to a high professional standard. All queries and requests for information from the external advisors are investigated and answered in a timely manner with relevant backup provided.
Tax:
- Oversee the annual US and UK tax compliance including management of the day to day relationships with advisors.
- Ensure day to day tax compliance including VAT returns, PAYE, and ensure LWE have fully documented and understood any specific tax issues for productions or licences.
Royalties:
- Oversee the timely and accurate payment of all royalties including the sending out of any backup documentation.
- Work alongside the team in improving processes and controls for all royalty payment processes and accruals.
Budgeting & Forecasting:
- Support the Finance Director with the annual budget process including producing detailed overheads budgets, cashflows, balance sheet account forecasts and investment forecasts as needed.
- Support the Finance Director with production of the annual budget pack/strategy plans and/or 3-5 year business plans.
- Quarterly reforecasting of profit and loss and cash flow projections for board review.
Payroll:
- Prepare monthly payroll information including any changes to be sent to our payroll team.
- Monthly PAYE and pension payments.
- Annual preparation of P11D & PSA payments.
- Liaise with LWE pension advisors and inform them of new starters/leavers/changes.
- Monthly payroll journal to be posted into accounting system
Company Secretarial:
- Annual filing of confirmation statements for all companies on Companies House.
- Ensure Companies House records are kept up to date including any Director details.
Organisation Communication:
- Ensure close communication with the FP&A team
- Respond in a timely manner to any internal queries from LWE staff, and keep all staff updated with any planned changes in timing or processes.
Team Management and Liaison with Finance Director:
- Responsible for line management of Royalties Manager, Finance Manager and Management Accountant. Includes planning personal development, performance reviews and workload management.
- Ensure the Finance Director is updated on a regular and timely basis of any development or personnel issues.
- Ensure the Finance Director has appropriate oversight over the function and is provided with all information and relevant summaries of the financial results in good time.
Other:
- Support the CFO with annual business insurance renewals.
- Management of company car tax, congestion charge and breakdown cover.
- Office of National Statistics surveys.
- Company card management and final approval for all employee expense payments.
- Work alongside the Finance Director on any ad-hoc projects which may arise.
Person Specification
Essential knowledge, skills and abilities:
- Relevant education to graduate level or equivalent.
- ACA or CIMA or ACCA qualified accountant.
- Previous team management experience.
Desirable knowledge, skills and abilities:
- Interest or previous experience in an arts entertainment environment.
- Knowledge of Microsoft Dynamics accounting system
- Experience of royalty accounting
Behaviours / competencies:
- A team player with a practice, pro-active and positive attitude to work
- Conscientious and efficient
- Organised and able to organise others
- Excellent interpersonal skills to establish and maintain positive working relationships; listens and communicates clearly, concisely, confidently and constructively to ensure mutual understanding.
- A mature and professional manner when dealing with staff, peers and management, especially when under pressure; establishes and maintains credibility.
- Ability and willingness to adapt style to manage relationships and varied workflow.
