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UNIVERSITY OF EDINBURGH| Director of Finance
Appointment of
[Role] [Date Month Year]
Appointment of Director of Finance June 2018
UNIVERSITY OF EDINBURGH| Director of Finance
CONTENTS
1. Introduction
2. The role
3. The person
4. Terms of appointment
5. How to apply
“The University’s
mission is the
creation,
dissemination and
curation of
knowledge”
UNIVERSITY OF EDINBURGH| Director of Finance
INTRODUCTION The University of Edinburgh has a distinguished history dating back to the sixteenth century and is consistently
rated as one of the world’s best. It is situated at the heart of the vibrant and beautiful city of Edinburgh which is one
of Europe’s most thriving business and cultural capitals.
The University’s fundamental mission is the creation, dissemination and curation of knowledge. As a world-leading
centre of academic excellence the University’s objectives are to:
enhance its position as one of the world’s leading research and teaching universities and to measure its
performance against the highest international standards;
provide the highest quality learning and teaching environment for the greater wellbeing of its students;
produce graduates fully equipped to achieve the highest personal and professional standards;
make a significant, sustainable and socially responsible contribution to Scotland, the UK and the world,
promoting health and economic and cultural wellbeing.
The University of Edinburgh has a student body of 39,000, of which 43% are international, and over 14,000 staff. It
has an asset base of £1.3bn and an annual revenue of £929 million. The University is rated 23rd in the QS World
University 2018 rankings. It is organised into three Colleges and 22 Schools, which offer over 350 undergraduate and
160 postgraduate courses.
Professional services, consisting of Corporate Services Group, Student and Academic Services Group and
Information Services Group, are critical to the success of the University and will enable it to maintain its world class
reputation, as well as supporting its ongoing commitment to the student experience.
INTRODUCTION
UNIVERSITY OF EDINBURGH| Director of Finance
The University of Edinburgh holds a position as one of the world’s leading research universities, and Scotland's top
ranked research University according to the Times Higher Education world university rankings in 2018. The
University reported an increase of 10% in the number of research applications in 2017, with a total research income
of £265million.
The University received over 62,000 applications for undergraduate study in 2017, with an intake of the highest
quality of 23,617. It has a long-standing programme of expanding access provision and widening participation, and
international applications continue to increase, at undergraduate and postgraduate level.
As a great civic University, Edinburgh particularly values its intellectual and economic relationship with the Scottish
community that forms its base and provides the foundation from which it will continue to look to the widest
international horizons, enriching both itself and Scotland.
The University is undertaking a major capital development programme with a capital investment programme of
£1.1billion. A number of important projects are underway or have already been completed. The Estates Strategy
2017 – 2027 can be found at:
https://www.ed.ac.uk/estates/staff/info-est-dept-staff/estates-vision
The University’s Research and Innovation unit has launched 100s of new companies over the last decade and the
support provided by the student-focused launch programme has been recognised as class-leading, winning the
Education Investor Higher Education Innovation award and being shortlisted in the Entrepreneurial University of the
Year category in the 2011 and 2012 Times Higher Education Awards. The University has also recently secured a
major investment deal to support research commercialisation. MTI will form a £150m venture capital fund to
support companies emerging from Edinburgh and two other leading universities. Its Licensing team concluded 65
agreements to transfer University technology to industry, including many SMEs, and its consultancy activities
generated a record £5m of new income.
UNIVERSITY OF EDINBURGH| Director of Finance
FINANCEDespite challenging and uncertain circumstances and strong headwinds in UK public sector funding, the University
of Edinburgh has enjoyed another year of financial success in 2017, reporting a surplus of 7.4%, equal to £56million.
The university is well positioned for the future, and continues to innovate to maintain its position as an influential
and world class institution.
The central finance function consists of 95 staff. It operates and leads the development of financial processes and
systems, undertakes fiscal, treasury, and balance sheet management, and provides reporting, advice and guidance
to the top executive team of the University and to the Court and its committees.
The Finance Director is responsible for a devolved structure, whereby in addition to the central team, each of the
three Colleges has its own accounting resource providing local advice and direction. The College teams report
directly to the Vice-Principal & Head of College, with an indirect line to the Director of Finance for corporate and
professional matters.
Current activities include: assessing and advising on the financial implications for the University of the UK and
Scotland funding environments for research and education; putting in place appropriate funding for the next period
of the University’s development; ensuring effective investment management of the University’s endowment and
liquid assets; managing the financial implications of merger activity; a review of and re-investment in financial
systems and processes; ensuring that sound business cases support the University’s investment proposals;
development of venture funding to support company formation; and developing the efficiency and service
orientation of finance processes.
UNIVERSITY OF EDINBURGH| Director of Finance
THE ROLE
Context
As we enter a new era for the university sector, it is essential that the financial backbone of University of Edinburgh
is of the very highest order.
The University has enjoyed an impressive increase in income from multiple sources in recent times, supported by a
highly successful cost control strategy, resulting in a very significant surplus being generated in the year 2017.
Nevertheless, the changes in Scottish Funding Council funding, and the competition for limited UK Government
research funding are examples of a number of key financial challenges the University faces currently.
The ongoing turbulence within the UK higher education sector, and the global economic difficulties we all continue
to face, mean it is essential that the incoming Director of Finance takes a strategic approach to the leadership of the
University of Edinburgh’s finance function. Maintaining and developing the function’s excellent performance will be
critical, as well as ensuring its systems and processes are of the highest quality and appropriate to a large and
complex organisation operating at the leading edge of its sector.
UNIVERSITY OF EDINBURGH| Director of Finance
Principal duties/accountabilities
The Director of Finance is responsible for the financial stewardship of the University, its financial strategy
development and the provision of financial advice related to the strategic development of the University.
Reporting relationships
The Director of Finance has a direct reporting relationship to the Principal with respect to strategic and professional
matters and in support of the latter’s role as Accounting Officer.
The Director of Finance is a key member of Corporate Services team reporting to the Director of Corporate Services.
Other important relationships include the Chair of the Finance and General Purposes Committee, the Chair of Audit
Committee, the Senior Vice-Principal Planning, Resources & Research Policy, the Director of Planning and the
Director of Human Resources.
KEY RESPONSIBILITES
STRATEGIC:
Provision of advice and support to the Principal, particularly in his/her role as designated Accounting Officer.
Ongoing development of the University’s financial policy and strategy – including making recommendations to
the Principal, Finance & General Purposes Committee and the University Court.
Management of the current and future financial health of the University and its subsidiaries, including income
and expenditure, long-term capital planning, treasury and funding.
Provision of advice and direction on financial, strategic and operational matters to the University and College
senior teams in support of strategic change, investment and business improvement.
Development of processes, systems, reporting and customer orientation.
Effective representation of the University in HE sector bodies, finance networks in the City of Edinburgh and
elsewhere.
OPERATIONAL:
Leadership and direction of the Finance Function, including the professional leadership and development of
College and subsidiary company finance teams with an emphasis on embedding the ethos of strong customer
service.
Maintain compliance with professional standards and ensure a satisfactory internal control environment
The provision of appropriate and accurate financial information to the senior management teams in the
University, and to the University Court and its Finance & General Purposes and Audit Committees.
Treasury, funding and fiscal management.
Management of relationships with pension schemes, insurers, endowment trusts, auditors and other advisors.
Development of financial capabilities of staff in the function and across the University.
UNIVERSITY OF EDINBURGH| Director of Finance
PERSON SPECIFICATION
Overview
An experienced Finance Director is sought with the strategic and operational capability to maintain the excellent
performance of the University of Edinburgh’s finance function. The Director of Finance will have the ability to
engage not just across the senior management team, but also with the Court and key external stakeholders.
Beyond maintaining the day-to-day effectiveness of the finance function of a large and complex international
organisation, candidates will need to demonstrate the ability to lead on key strategic objectives related to finance,
and respond quickly to the rapidly changing economic and political environment in Scotland, the UK and
internationally. They will also play a full role in strategic priorities such as the University’s internationalisation
agenda, its capital development programme, its growing engagement with the private sector, and its
commercialisation and technology transfer activities.
UNIVERSITY OF EDINBURGH| Director of Finance
Experience and Qualifications
Specifically, candidates for this important role must be able to demonstrate an excellent fit to the key criteria below:
• Visionary, with the demonstrable ability to lead change successfully.
• Strategic capability with significant experience of operating at a senior strategic financial management
level.
• Proven leadership, people management and team building capability.
• Proven ability as a Finance Director, working within a complex organisation of a comparable type and
scale.
• An appropriate professional qualification.
• The appropriate style, stature and interpersonal and communication skills to work collegially with the
Principal, the Court, senior academics and other staff.
• The ability to engage with external funding bodies, public and private sector partners, providers of
external services and other universities nationally and internationally.
• An understanding of and empathy with higher education and public sector finances.
• Experience of generating finance, including identifying innovative sources of funding.
• Commercial decision-making experience, gained in the private or public sector.
• Evidence of entrepreneurialism and innovation, with an ability to identify commercial opportunities to
maximise income.
Key competencies
• Strategic decision maker with a high level of strategic and political awareness and adaptable strategic
thinking.
• Customer focused, able to identify, understand and give priority to meeting the needs of internal and
external customers, to provide the highest standards of service for the University.
• Capacity to tackle diverse and complex cultural, political and organisational issues internally and
externally.
• Innovative thinker with financial and commercial acumen.
Personal Qualities
• High motivation, tenacity and personal drive to succeed in a complex and diverse organisation.
• Committed to driving change and improvement.
• Demonstrable emotional intelligence and ability to effectively manage self and others when working
under pressure.
• Highly developed interpersonal, networking, advocacy and presentation skills, able to create and
sustain partnerships and work across boundaries internally and externally.
• Strong planning, prioritising and organisational skills.
UNIVERSITY OF EDINBURGH| Director of Finance
TERMS OF APPOINTMENT A remuneration package fully commensurate both with the significance of this appointment and with the calibre of
the successful candidate will be offered. Pension provision will be available under the Universities’ Superannuation
Scheme (USS). Relocation assistance will be available.
Ideally, the successful candidate will take up the post by January 2019.
HOW TO APPLY Saxton Bampfylde Ltd is acting as an employment agency advisor to The University of Edinburgh on this
appointment.
Candidates should apply for this role through our website at Candidates should apply for this role through our
website at www.saxbam.com/jobs using code KAEUD.
Click on the ‘apply’ button and follow the instructions to upload a CV and cover letter, and complete the
application and equal opportunities monitoring* form.
The closing date for applications is noon on 6 July 2018.
If you are unable to apply through the website, please email belinda.beck@saxbam.com quoting reference
KAEUD.
* The equal opportunities monitoring online form will not be shared with anyone involved in assessing your
application. Please complete as part of the application process.
UNIVERSITY OF EDINBURGH| Director of Finance
Saxton Bampfylde
EDINBURGH
46 Melville Street
Edinburgh EH3 7HF
LONDON
9 Savoy Street
London WC2E 7EG
saxbam.com
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