THE NATIONAL INSTITUTIONS OF THE CHURCH OF ENGLAND
CHURCH COMMISSIONERS
PROPERTY INVESTMENT DEPARTMENT
JOB PROFILE
JOB TITLE:
Financial Manager – Property
BAND:
N/A
LOCATION:
Church House, Great Smith Street, London SW1P 3NZ
ACCOUNTABLE TO:
Chief Operating Officer
RESPONSIBLE FOR:
Accounting for all the investment activities of the Commissioners,
covering Real Estate, Timber and Loans. Management and development
of two members of staff.
KEY RELATIONSHIPS: Reporting to the Chief Operating Officer, working closely with the
Director of Investments, Chief Surveyor, staff in Property Investments,
the Church Commissioners, Group Accountant and the Property Tax
Manager, staff in Accounts, Financial Policy and Planning, and Internal
Audit
External property managing agents, fund managers, property valuers,
group auditors and other external advisers
BACKGROUND:
The Church Commissioners’ Investment Division
The Church Commissioners for England is a statutory corporation and
a registered charity that is both a major financial institution (managing
£6.7 billion of assets for the Church of England) as well as an
administrative body with regulatory and quasi-judicial duties. It has
representatives of both Church and State on its governing body and is
answerable to both Parliament and the General Synod of the Church of
England. The income from the assets it manages is used to support the
Church’s ministry in a number of ways. About 60% of charitable
expenditure covers pensions for retired clergy. The remainder is spent
on grants for work in parishes and cathedrals and to support the
ministry of bishops and archbishops.
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The Investment Division (of which the Property Investment
Department forms part) is responsible for the Commissioners’
securities and commercial, rural, residential property, strategic land and
indirect property investments with a portfolio worth over £6.7bn. Real
estate comprises approximately 1/3rd of assets under management.
JOB SUMMARY:
To manage the asset accounting for the real estate activities of the
Commissioners. To ensure the completeness of property income
collected by managing agents, by monitoring the integrity and accuracy
of their financial systems and reporting. To ensure all property related
activities (for real estate, See House, Charm and loan portfolios) are
correctly reflected in the internal accounting platform (SAP).
For the candidate with suitable experience, there may be an
opportunity to expand their accounting responsibilities to cover asset
accounting for securities at a later date.
MAIN DUTIES AND RESPONSIBILITIES:
Property Accounting
1. Maintain accurate financial accounting and property accounting records for the Commissioners’
property assets in accordance with best practice and in a timely manner.
2. Ownership of the property income, expenditure and asset value lines within the Commissioners’
and its subsidiaries’ financial statements.
3. Administration of the existing property database and financial reporting system.
4. Review quarterly fund statements for indirect property and timberland investments.
5. Support and advise the Chief Operating Officer in all aspects of accounting and reporting in
relation to direct and indirect property.
6. Review all prospective acquisitions and disposals and identify and advise of any potential
accounting issues that may result.
7. Ensure that acquisitions, disposals, revaluations and other transactions are accounted for
correctly.
8. Liaise with, advise and if necessary work with Internal Audit on the inspection function to ensure
that it provides effective and timely assurance on the completeness of the Commissioners’
property income and monitors risk in the outsourcing of the management of the property
portfolios.
9. Responsible for the annual revaluation exercise to ensure that all property assets are
appropriately valued in accordance with the Commissioners’ valuation policies.
10. Responsible for the property asset accounting year-end exercise, co-ordinating and reviewing all
year-end information and ensuring the agreed year-end group timetable is met.
11. Responsible for the property performance measurement exercise.
12. Advise on tenant covenant strength.
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13. Responsible for the provision of management accounting data on a quarterly basis to assist the
Asset Managers in understanding the performance of their portfolios reporting actual income and
expenditure against budgets and forecast.
General
14. Regularly review and take the lead in developing the systems and procedures that are in place to
ensure they are effective and implement changes to maximise efficiency.
15. Ensure the Commissioners’ property managers receive accurate, relevant and timely accounting
information.
16. Report to the Property Group and Assets Committee on areas of property accounting, as
appropriate, and provide support and background information for other reports by the
Commissioners’ asset managers.
17. Review, and advise on, the accounting aspects of management contracts with the external fund
and property managers.
Staff Management
18. Line management of 2 posts.
19. Support and encourage staff in their professional development.
The main duties and responsibilities of your post are outlined in your job description. This list is not
exhaustive and is intended to reflect your main tasks and areas of work. Changes may occur over
time and you will be expected to agree any reasonable changes to your job description that are
commensurate with your banding and in line with the general nature of your post. You will be
consulted about any changes to your job description before these are implemented.
PERSON SPECIFICATION:
Essential
Education:


Qualified accountant (member of one of the following ICA [England, Wales, Scotland or Ireland],
ACCA, CIMA or CIPFA
Educated to degree level or equivalent
Skills/Aptitudes:






Staff management experience in a Property Accounting environment
Able to co-ordinate own work and the work of others
Able to lead and work in a team
Analytical, able to interpret complex accounting data and assess its meaning
Able to work on own initiative
Able to work to strict deadlines, responding rapidly to changing priorities
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
Strong communication skills, both oral and written
Knowledge/Experience:




Extensive experience within Property/Accounting, including working for or with managing agents
or asset managers
Significant exposure to sophisticated finance systems.
Experience of asset performance measurement
Understanding of UK GAAP
Personal Attributes:



Committed to timely and accurate service provision
Approachable and a team player
Self-disciplined, particularly with regard to time management
Circumstances:

Ability to work additional hours if required to meet specific deadlines
Desirable
Knowledge/Experience:




Knowledge of SAP
Knowledge of, or familiarity with, software packages used by external agents
Understanding of charity accounting
Understanding of IFRS
GENERAL CONDITIONS:
Diversity
We understand the benefits of employing individuals from a range of backgrounds, with diverse
cultures and talents. We aim to create a workforce that:


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values difference in others and respects the dignity and worth of each individual
reflects the diversity of the nation that the Church of England exists to serve
fosters a climate of creativity, tolerance and diversity that will help all staff to develop to their full
potential.
We are committed to being an equal opportunities employer and ensuring that all employees, job
applicants, customers and other persons with whom we deal are treated fairly and are not subjected
to discrimination. We want to ensure that we not only observe the relevant legislation but also do
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whatever is necessary to provide genuine equality of opportunity. We expect all of our employees to
be treated and to treat others with respect. Our aim is to provide a working environment free from
harassment, intimidation, or discrimination in any form which may affect the dignity of the individual.
Standards of Behaviour and Conduct
Staff are expected to act at all times with due consideration for others and in a manner befitting their
position as employees of the Church and as professionals, whatever their job.
Health and Safety Responsibilities
The NCIs take Health and Safety at work very seriously and require their staff to familiarise
themselves with, and follow, their policy.
Confidentiality
Staff must not pass on to unauthorised persons, any information obtained in the course of their
duties without the permission of their Head of Department.
TERMS OF EMPLOYMENT:
Starting Salary:
Competitive and in line with skills and experience.
Pension Contributions:
Non-clergy staff will be admitted to the Church Administrators Pension
Fund (CAPF, DC Section) unless they choose to opt out. Clergy already
in the Church of England Funded Pensions Scheme (CEFPS) will have
the option of either remaining in this scheme or joining the CAPF
scheme.
There is no contracting – out certificate under the Pension Schemes
Act 1993 in force for this employment in relation to the CAPF and
CEFPS. Both CAPF and CEFPS members are contracted-in to the State
Second Pension.
Hours of Duty:
Normal hours of work are 35 per week, Monday to Friday with an
hour’s unpaid break for lunch.
Annual Leave:
30 days paid leave per leave year. This is exclusive of public and
additional holidays. The leave year runs from 1st January to 31st
December.
Season Ticket Loan:
Staff are eligible to apply for an interest-free travel season ticket loan
for their journey to and from work.
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Contract:
The post is offered on an open-ended contract, subject to a six-month
probationary period.
Closing date for receipt of applications: 9.00am, Friday 15th May 2015
Please note, if you have not heard from us within 3 days of the interview date, you have been
unsuccessful in your application.
Interviews: 20th May 2015
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