Finance Business Partner
Department: Central Finance
Reports To: Head of Finance, Steam Thermal Solutions (STS)
Job Summary: The Finance Business Partner will report to the Head of Finance, Steam Thermal Solutions. The role holder will be a key strategic business partner and advisor, developing and implementing financial strategies that align with and support Steam and Group goals and objectives to maximise returns, across key operational areas of investment and responsibility. As a trusted partner, the role holder will provide leadership and challenge to deliver the business strategy and financial results.
The role holder will be responsible for the following areas within Steam Central Functions:
Innovation & Product Development (IPM), Steam Digital & Services, Global Oil, Gas & Chemicals (GOGC) and Sustainability/Green Tech (GT).
Direct Reports: Management Accountants for Innovation & Product Development (IPM), Steam Digital & Services, Global Oil, Gas & Chemicals (GOGC) and Sustainability/Green Tech. Dotted line reporting responsibility for Cotopaxi Finance Accountant.
Key Responsibilities
Line Management
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Working closely with direct reports to ensure successful achievement of objectives and to enhance and develop the team’s overall capabilities and expertise. Including but not limited to:
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Performance review
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Develop development plan
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Prepare succession planning and manage staff turnover
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Promote and support talent.
Financial Planning and Analysis
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Ownership of business areas’ budgets and forecasts reporting and associated processes. Deliver an accurate, efficient and transparent plan and forecasts which meet finance and business stakeholder requirements and follow divisional strategy. Planning and forecast future capital needs and prioritisation of investments. Cost optimisation and effectiveness of investments for the business areas globally. Oversight of preparation of balance sheet forecasts for management reporting areas.
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Regularly review and report performance against plan and latest forecast, working with the business to analyse financial and operational variances and recommend corrective action to ensure delivery of commitments. Provide commercial challenge and financial rigour to the business and to key projects so that budgets, commercial arrangements, business cases, and governance expectations are met.
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Oversight of weekly orders/sales forecast for Group reporting, working closely with the business to ensure that there is appropriate level of challenge. Variance analysis and supporting assumptions must be robust and justifiable.
Oversight of monthly management reporting process for business areas, including internal reporting submission to Group. This includes monthly variance analysis to budget, and key performance indicators (KPIs). Oversight and continuous improvement for balance sheet reconciliations across management reporting areas. Working with the management accountants to develop the monthly processes and simplification of complexities within business areas.
- Oversight and coordination of support information for Taxes such as annual Research and Development (R&D claims). Liaising and coordinating with Group tax.
Globally, drive the consolidation of the budgets, applying rigour and control to central, divisional and opco budgets. Provide overall governance and support for business cases relating to investment and budgets as well as reporting across Steam Solutions where required within areas of responsibility.
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- Development, implementation, and management of all aspects of Financial Planning and Analysis across business areas to enhance efficiency and accuracy in reporting. Provision of data-driven analysis to support strategic decision-making across business areas. Drive continuous improvement in financial planning and analysis processes and tools.
- Development, reporting and ongoing monitoring of key performance indicators (KPIs) across business areas. Provision of strategic recommendations for improvement/mitigation of risk for KPIs. Work with business areas to set targets across their areas aligning to overall Steam and Group objectives. Collaboration with opcos across Steam to gather financial data, report on, and ensure alignment with key performance targets.
Financial Modelling and Projects
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Develop, implement and maintain financial models to support strategic planning and decision-making, including but not limited to simulation of various business scenarios, project evaluation, product evaluation, and sensitivity analysis to help to forecast the financial impact of different strategic decisions and mitigation of risk across key operational areas.
- Oversight and management of project tracking and analysis for both capital and operational expenditure, ensuring accurate financial reporting and insightful analysis to support decision-making and project management. Ensure that all project capital and operational expenditures are monitored, reported, and aligned with budgetary constraints and strategic goals.
Collaboration and Stakeholder Management
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Build and maintain strong relationships with both internal and external stakeholders across Finance, the Division, and the broader business. Actively promote the Central Finance team and its colleagues within the wider organisation.
- Collaboration with Key Operational Heads to provide financial insights and analysis, support budget control for efficient resource allocation and decision support as well as supporting on revenue growth targets. Drive financial updates, insights and recommendations to the Steam divisional team.
- Liaise and support internal functions including Group Legal, Group Tax, Supply & Sales OpCo’s to facilitate projects for designated business areas.
- Preparation and presentation of financial reports and analysis to senior management and stakeholders, highlighting areas for improvement or investment.
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Liaising with Sales and Supply Divisions to support on royalty and recharge processes. Oversight of the recharge model for royalties. Coordination and development of processes with Financial Reporting Teams for the recharges across business areas. Communication and support to the business where required.
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Work closely with the Operational and Financial reporting teams across Central Finance to ensure that processes are in place to support accurate and timely reporting, and that management accounts and capital expenditure reporting are prepared consistently with accounting policies and that judgemental areas flagged and agreed. Ensure that costs have been correctly recognised, raised and classified including any intercompany amounts.
Ad-hoc Project Work
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Support the Finance leadership team with ad-hoc financial projects and tasks.
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Support on audit queries and process where required.
Qualifications and Skills:
Qualifications and Experience
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Professional accounting qualification (ACCA, CIMA, ACA).
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Significant post qualification experience in a finance department of a commercial organisation.
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Able to deliver market benchmarked Commercial Excellence in a multinational environment.
Analytical and Technical Skills
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Analytical Thinking: Ability to interpret complex financial data, identify trends, and provide actionable insights.
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Financial Acumen: Deep understanding of financial principles, forecasting techniques, and financial performance tracking.
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Problem-Solving: Identifying issues and developing solutions to improve financial performance.
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Adaptability: Being flexible and responsive to changing business needs and environments.
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Proficiency in Financial Software: Familiarity with financial systems and tools to support data analysis and reporting.: Advanced Excel, financial modelling, proficiency in accounting software.
Communication and Interpersonal Skills
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Effective Communication: Ability to convey complex financial information clearly to non-financial stakeholders.
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Presentation Skills: Proficiency in presenting financial data and insights to various audiences.
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Stakeholder Management: Building and maintaining strong relationships with internal and external stakeholders, in particular experience in dealing with senior stakeholders.
Strategic and Business Skills
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Commercial Mindset: Understanding the business environment and how financial decisions impact overall business performance.
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Strategic Planning: Supporting long-term business planning and decision-making.
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Influence and Negotiation: Ability to influence and persuade others to achieve the best financial outcomes for the company.
Collaboration
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Collaboration: Working effectively with various other areas of the wider business to gather and analyse financial data.
Ethical and Compliance Skills
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Integrity: Maintaining ethical standards in financial reporting and decision-making.
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Regulatory Knowledge: Ensuring compliance with financial regulations and standards.
The Steam Thermal Solutions business is one of three businesses within Spirax Group. Spirax Sarco and Gestra, are our two brands that form Steam Thermal Solutions and are global leaders in the supply of engineered solutions for the design, provision and maintenance of efficient industrial and commercial steam systems. Steam Thermal Solutions has global coverage across 67 operating units (called OpCos), organised into four Divisions: EMEA, APAC, Americas, Gestra.
Spirax Group is a FTSE100 and FTSE4Good multi-national industrial engineering Group with expertise in the control and management of steam, electric thermal solutions, peristaltic pumping and associated fluid technologies.
Our Purpose is to create sustainable value for all our stakeholders as we engineer a more efficient, safer and sustainable world. Our technologies play an essential role in critical industrial processes and industrial equipment across industries as diverse as Food & Beverage, Pharmaceutical & Biotechnology, Power Generation, Semiconductors and Healthcare. With customers in 165 countries, we provide the solutions that sit behind the production of many items used in daily life, from baked beans to mobile phones!
Our Purpose, supported by our inclusive culture and Values, unites us, guides our decisions and inspires us everywhere that we operate. We support our colleagues to make their difference for each other as well as customers, communities, suppliers, our planet and shareholders by creating a truly equitable working environment where everyone feels included.
Benefits
You will receive a competitive salary (and a discretionary bonus), flexible working and excellent benefits including 27 days holiday allowance (before bank holidays), 3 days’ paid volunteering leave, comprehensive private healthcare, enhanced pension plan, life assurance, optional participation in a Share Ownership Plan, free onsite parking, flexible benefits, and access to a personal discounts’ portal. We also offer a range of additional support and benefits through our Everyone is Included Group Inclusion Plan, detailed below.
Everyone is Included at Spirax Group
We are passionate about creating inclusive and equitable working cultures where everyone can be themselves and achieve their full potential. For us, that means supportive teams and strong relationships where everyone’s contribution is valued - across social and cultural backgrounds, ethnicities, ages, genders, gender identities, abilities, neurodiversity, sexual orientation, religious beliefs, and everything else that makes us human and unique.
We want everyone to be able to make their difference here, so we will always consider requests for flexible working.
We know that everyone needs some extra help from time to time too, so we have introduced a range of additional benefits through our Group Inclusion Commitments. These include gender-neutral parental leave, 15 days of extra paid caregiver leave, paid time off and support for anyone experiencing pregnancy loss or domestic abuse, menopause-friendly workplace principles and more. Learn more at https://www.spiraxgroup.com/en/life-at-spirax/our-inclusive-group/our-inclusion-commitments.
We are also a Disability Confident Committed Employer. If you would like to apply using this scheme, please select this option in our application form or notify our recruitment partners.
