Part-time Finance Consultant

Project Overview: Following recent changes in key personnel, our client is undertaking a comprehensive review of its financial processes. This project aims to assess current workflows and systems to identify inefficiencies, streamline operations, and ensure all daily financial tasks are efficiently managed.

By optimising financial processes, this initiative will enhance operational effectiveness, improve system integration, and support the organisation's long-term growth.Duration: 3 days per week for approx. 6 months

Rate: £300-400Scope of Work:

1. Process Mapping: Carry out a thorough review of current systems and conduct interviews with key stakeholders to develop a clear representation of current financial processes, contracts and systems, preventing the loss of critical knowledge.
2. Efficiency Improvement: Identify inefficiencies, and bottlenecks in current financial operations and provide expert financial advice to recommend and design improvements.
3. System Integration: Assess the functionality and limitations of current systems, understand how different financial and operational systems interlink (e.g., Xero, QuickBooks), and improve their integration.
4. Process Re-engineering: Design new financial reports that support a streamlined and efficient finance department, ensuring best practices in financial management and compliance.
5. Staff Training, Knowledge Transfer and Mentorship: Adopt a sensitive change management approach that minimises resistance and maximises user adoption. Ensure the redesigned processes are effectively implemented and ensure that staff are adequately trained to maintain and operate within the new framework. Review and define the job roles within the team and act as a mentor to the new Finance Manager.
6. Business as Usual: Throughout the project, maintain business as usual for the finance department, overseeing the monthly financial ledger, ensuring accurate profit and loss statements, bank reconciliations, and reporting. Conduct monthly cash flow analysis and forecasting. Support the CEO and Fundraising Leads with funding bids and reports. Lead the preparation of year-end accounts and manage the annual audit process efficiently. Ensure all legal, tax, and regulatory obligations are met, maintaining full compliance with relevant standards.

Expected Deliverables:

1. Comprehensive process maps of current financial operations.
2. A detailed report outlining inefficiencies and areas for improvement.
3. Proposed improvement plan presented to key stakeholders.
4. Comprehensive support and training of new systems and processes
5. A final implementation plan with recommendations for ongoing process monitoring.

Timeline:

• Phase 1: Process mapping and stakeholder interviews (Month 1)
• Phase 2: Identifying inefficiencies and drafting re-engineered processes (Month 2)
• Phase 3: System integration recommendations and implementation (Month 3-4)
• Phase 4: Staff training and transition support (Month 5-6)