Financial Controller for a Contemporary Gallery in London

Our client, who is an International Established Art Gallery, is looking for a Financial Controller to join the team. They are looking to fill the role as soon as possible.

Objective

• Develop robust financial reporting structures and produce monthly management accounts to empower management in making informed decisions on investments, expansions, and cost reductions.
• Collaborate with teams at gallery’s locations in UK, Azerbaijand the upcoming US-based gallery to implement standardized nominal codes and reporting standards across all sites.
• Partner with our engineers to establish automated systems for seamless auditing of sales and costs.
• Work closely with the Sales Director to model sales targets and remuneration structures at the individual, departmental, and group levels.
• Liaise with tax consultants and company secretarial services to optimize financing, ensure compliance with statutory reporting, and leverage appropriate tax structures.
• Gain a thorough understanding of the property management and financing aspects of the business to support strategic initiatives.

General

• Expected to be on-site at the gallery for 4 days per week during the first 6 months, transitioning to 3 days per week thereafter.
• Reporting directly to Directors

Individual Responsibilities for the Gallery

• Monitor and oversee day-to-day expenses using Xero for accounting and reporting, and ArtLogic for invoicing.
• Capture and allocate all bills to the appropriate nominal codes in Xero, proactively requesting any missing invoices from the registrar and other relevant staff.
• Reconcile all transactions and multi-currency bank accounts within Xero.
• Regularly review aged payables and aged receivables to maintain financial health.
• Process bill payments via major bank
• Generate sales invoices through ArtLogic, ensuring appropriate invoice numbering in coordination with sales staff.
• Manage artist and consignor commissions with accuracy and full adherence to contractual terms.
• Prepare and submit VAT returns. Handle overseas (U.S.) sales tax filings.
• Produce monthly management accounts, budgets, forecasts, and rolling cash flow projections.
• Support external accountants in preparing corporate accounts.
• Administer payroll, pensions, staff expense reimbursements, and company credit card reconciliations.
• Assist external accountants with payroll submissions, including tracking sales commissions.
• Aid in the preparation of year-end accounts by external accountants.
• Monitor and respond to relevant emails as needed. Maintain accurate records of intercompany transfers.
• Review export and shipping documents for sales completed during the quarter.
• Conduct quarterly stock takes, accounting for sales of inventory owned by the Director.

Broader Gallery Group responsibilities:

• Coordinate with property management teams for bill processing and payments.
• Review aged payables and aged receivables.
• Track all payments and transactions in Xero.
• Maintain records of intercompany transfers.
• Process bill payments via major bank
• Prepare and submit VAT returns.
• Produce monthly management accounts.
• Support external accountants in preparing corporate accounts.
• Aid in the preparation of year-end accounts by external accountants.
• Monitor and respond to relevant emails as needed.
• Obtain rental statements and post them to Xero under the supervision of external accountants.

Role is FT with hybrid offered.
Salary: £60k+ DOE (with a performance review after 12 months and a potential 10% bonus based on achievement of agreed targets).