Chief Financial Officer
Chief Financial Officer

BioCity Group Ltd

A highly driven, entrepreneurial Chief Financial Officer is required by BioCity Group Ltd to help build on over 12 years of successful growth and join the executive team in driving forward their ambitious plans for the future.

 

BACKGROUND

BioCity is the leading bioscience incubator business in the UK. The company helps create and develop life science companies; it makes investments in them and provides them with facilities and services from its current four sites across the UK. It earns income from providing facilities and necessary services to life science companies, but its success comes from a focus on the success of the companies based at its centres. The company has grown to 50 employees and turnover in 2015 is forecast to be approximately £6.5M with expectations to double this over the coming years.

BioCity operates a £5M investment fund on behalf of AstraZeneca and is in the process of raising £4-5M through its own fundraising. These funds will be used to expand investment activities and increase the number of sites at which BioCity operates. An IPO is planned in around 2 years (depending on market conditions) at which point it is intended to raise £30-60M to further expand investment activity.

 

ORGANISATION STRUCTURE

 

 

 

 

GENERAL DEFINITION

The CFO will be a key member of the executive team at BioCity and will play an important role in taking the company to its next level of growth. You will be responsible for both the operational and strategic aspects of the company finances, and financial reporting ensuring systems and processes operate effectively to deliver the required management information and meet regulatory requirements. In addition you will support and, in some cases, take the lead on the strategic development of the business- negotiating contracts and creating financial models as the company expands into new areas. Also you will have responsibility for the company’s IT systems and ensuring that these are relevant and up to date. Finally, you will play a central role in the planned progress of the company to an initial public offering (IPO) of its shares on the Alternative Investment Market (AIM)

 

ESSENTIAL DUTIES AND RESPONSIBILITIES
  • Work with the CEO on the strategic vision and long term financial planning
  • Manage the accounting reporting process on a timely and accurate basis including the production of monthly management accounts and statutory accounts and the statutory reporting timetable with the external auditors and the audit process .
  • Responsibility for the annual budget and forecasting process for the company as well as the medium term strategic plan and business model.   
  • Participate in developing new business, specifically: take responsibility for financial planning for new business opportunities; support grant applications; and identify new sources of funding for BioCity’s activities
  • Attend Board and Subcommittee meetings as required, including being the lead on the Audit Committee.
  • Take the lead on any investor due diligence undertaken on BioCity and on any due diligence BioCity may require
  • Oversee efficient and effective operation of the finance team including developing and coaching and training and preparation for the implementation of FRS102
  • Where appropriate, lead on contract negotiations
  • Oversee procurement and ensure best value for money achieved
  • Ensure adequate financial controls are in place and are operating effectively across all parts of the business including responsibility for the business risk register;
  • Ensure compliance with any government grant requirements
  • Oversee all purchasing and payroll activity for staff and participants.
  • Oversee company secretarial duties (undertaken by Director Risk Management & Compliance)
  • Monitor banking activities and the treasury function of the organisation.
  • Ensure adequate cash flow to meet the organisation's needs.
  • Take responsibility for the IT function of the business, ensuring it is adequate to support the needs of the business and operates efficiently and effectively.
  • Oversee human resources function
  • Ensure contingency and disaster recovery plans in place
  • Oversee business insurance and ensure adequate cost effective coverage
  • Take the lead on any investor due diligence undertaken on BioCity and on any due diligence BioCity may require

 

REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES

Demonstrable knowledge of:

  • Financial accounting and reporting- with strong technical knowledge including accounting for financial instruments, investments and consolidations.
  • Management reporting, systems and controls
  • Financial planning
  • Management of government grants
  • Resources of public and private social service and related agencies.
  • SAGE line 200 software
  • General office software, particularly the Microsoft Office Suite and use of databases.
  • Ability to:
  • Foster and cultivate business opportunities and partnerships.
  • Create and assess financial statements and budget documents.
  • Supervise staff, including regular progress reviews and plans for improvement.
  • Communicate effectively in both written and verbal form.

 

EDUCATION AND EXPERIENCE
Education:
  • Bachelor's degree from a leading university
  • Chartered Accountant qualification

Experience:

Required:

  • Financial Controller or Chief Financial Officer level in a fast growing entrepreneurial business.
  • At least 5 years of financial experience and management experience with the day-to-day financial operations of an organization of at least 40 staff.

Desirable:

  • Experience of undertaking an initial public offering on a UK equity market either as an adviser in an accounting firm or within a company.
  • Experience within an investment environment- e.g. venture capital, private equity

 

LOCATION

The position will be based in Nottingham but some travel to BioCity’s other sites across the UK will be required.

 

COMPENSATION
  • Competitive salary and bonus
  • Company contribution to pension scheme of 8% of base salary.
  • 33 days holiday per annum (including public holidays)
  • Participation in employee share incentive scheme

How to Apply

If you feel you have the skills and knowledge to succeed in this stimulating role, do not hesitate to apply today.


Send your CV, and covering letter including details of salary expectations and current notice period to humanresources@biocity.co.uk