AN ORGANISATION RECRUITING for a senior finance posi t i on of t e n s e e k s e x t e r nal advice from specialists. This i s the case with the Lubavitch Foundation. Having recently undertaken a full strategic review of its head office functions, conducted by James Shillito from Bolt Partners, a specialist turnaround consultancy, one of the recommendations was to install new systems, processes and controls across the Foundation.
In a relatively short period of time, this process has started, leading to an immediate improvement in the way the Foundation operates. By investing in a new accounting system and initiating the implementation of new accounting practices and controls, the Foundation has found itself moving into a period of stability.
One of the recommendations of the review is to recruit a new chief finance and administration officer. The Foundations’ auditor, Raffingers Stuart, recommended Paul Gladstone from recruitment specialist Financial Staffing Solutions. Gary Inglis, a partner from Raffingers Stuart, says: “having worked with Paul on a number of previous occasions, we were very happy to recommend him and his company to assist the Foundation in recruiting a new chief finance and administration officer. Paul has always taken the time to understand the client’s needs and provide a suitable shortlist of candidates.”
Paul explains, “It is an exciting time for the Lubavitch. Having started the process of change, they now require a chief finance and administration of- ficer to support the chief executive and the board of the Foundation, not only from a finance perspective, but also to take control of the administration and assist in some of the operational issues. Having advertised in the Jewish Chronicle, a number of specialist accounting job boards and networking through the community, it is important for us to present a concise short list of potential candidates who are not only technically qualified for the role, but possess the softer qualities to understand how the Foundation operates and how they can continue implementing the recommendations made in the strategic review.”
James from Bolt Partners explains, “When I was appointed as interim chief financial officer in October 2007, the Lubavitch Foundation was in considerable distress. There was extremely poor liquidity and as a result teachers, the Inland Revenue and suppliers had not been paid for many months. The financial controls were very weak, with outdated systems, an overstretched finance function and no regular fi- nancial reporting. The situation is now very different. Emergency funds have been raised from key patrons and Barclays Bank has provided breathing space for at least the next 12 months. New financial systems have been implemented and monthly financial reports are presented on a timely basis. There is a clear recovery plan in place which is being driven through by the senior management team.
“My job, to support the organisation through this challenging period, is nearing completion and it is time to hand over to a permanent successor who will build upon the achievements to date. This will be a very exciting and rewarding opportunity for the successful candidate to work with a very dedicated team and wonderful organisation.” For further information regarding the recruitment for the chief finance and administration officer for the Lubavitch Foundation, contact Paul Gladstone from Financial Staffing Solutions on 020 8532 2644 or email@example.com
Lubavitch Foundation is seeking a chief finance officer; could it be you?