About VIRTUS

VIRTUS Data Centres is the UK’s fastest-growing data centre provider which owns, designs, builds and operates the country’s most efficient and flexible data centres.

In May 2023 we announced our plans to expand into continental Europe, with our first data centre due to open in Berlin in 2026, to be quickly followed by two full campuses and expansion into other countries in the pipeline.

Our purpose is to serve humanity by being an active, positive participant in the 4th industrial revolution. When we talk about our purpose, we refer to our customers’ customers; the child playing a computer game, the person watching their favourite movie, booking a medical appointment, a plane ticket, a hotel or doing their online banking; those things can’t be done if we don’t do our job.

Our mission is to consistently exceed the expectations of customers through innovative, high-quality solutions and services. We employ intelligent thinkers – people with positive attitudes, who add to the quality of our customer proposition and business.

We value individual endeavour and initiative and encourage teamwork and togetherness because collective experience and expertise are VIRTUS’ greatest strengths.

Duties and Responsibilities

The role includes but is not limited to the following:

Lease Accounting (IFRS16)

• Day-to-day
  • Maintaining lease liabilities, right-of-use (ROU) assets and asset retirement obligations held in the SAP IFRS16 RE-FX module;
  • Monthly posting of lease interest and ROU depreciation through the RE-FX module;
  • Lease modification and re-estimation accounting from time to time;
  • Business partnering with the commercial team on contractual rental reviews;
• Monthly / Quarter / Annual Reporting Requirements
  • ROU asset reconciliation roll-forward schedules for quarterly reporting and annual statutory financial statements.

Treasury (IFRS9)

• Monthly / Quarter / Annual Reporting Requirements
  • Borrowing cost capitalisation IAS23 – including lease liability expense and interest on bank borrowings.
  • Calculation of monthly EIR interest on bank borrowings
  • Preparation of monthly cashflows on consolidated and entity basis
  • Quarterly posting of hedge accounting
  • Quarterly preparation of debt covenant compliance reporting
  • Review and determination of accounting treatment for new borrowings and related treasury instruments

Consolidation (IFRS10)

• Monthly / Quarterly / Annual Reporting Requirements
  • Supporting the consolidation for a group of approximately 30 companies across the UK and EMEA at several consolidation levels within SAP’s Group Reporting (GR) Module (IFRS) and using Oracle’s FCCS for upward reporting within the wider Group;
  • Reconciling data between isolated systems to ensure completeness and accuracy of information reported;
  • Maintenance and review of consolidation schedules and records;
  • Preparation of quarterly group reporting pack;
  • Preparation of monthly/quarterly KPI reporting;
  • Preparation of specific quarterly schedules for internal and external auditors.

Other

• Preparation, review and filing of statutory accounts (IFRS, FRS101 and FRS102) and liaising with internal and external auditors.
• Preparation of the accounting treatment and calculations related to company long term incentive plans.
• Project-based work business partnering within the wider organisation.

Process Improvement:

• Implement best practices to enhance efficiency and accuracy in financial reporting processes.
• Continuously identify opportunities for improvements to processes and controls related to financial reporting.

Person Specification

Qualifications:

Essential:

• Chartered accountant with ACA or ACCA qualification.

Experience:

Essential:

• Specific and detailed knowledge of applying IFRS9, IFRS10, IAS16 and IFRS16 arising from previous experience in a top-four firm or similar and/or the Finance team of a multinational business.
• Similar practical experience in applying consolidation principles for medium to large international groups of companies within a complex, multi-system ERP setting.
• Familiarity with day-to-day usage of SAP including hands-on experience – ideally a recent deployment of S/4 HANA employing the fixed asset module and RE-FX (lease) module.

Desirable:

• Previous experience in Finance teams within the data centre industry or other services industries within the telecommunications, technology or infrastructure sectors.
• Awareness of practical implications of SOX reporting on consolidation accounting processes, leases and fixed assets within the control environment.
• SAP experience using the Group Reporting (GR) Consolidation module.

Remuneration Package and Benefits

• Private healthcare
• Pension contribution scheme
• Eye and dental care benefit
• Discretionary bonus
• Income Protection
• Life Assurance
• Cycle to work scheme
• Annual travel card loan
• Tech Scheme
• Electric car scheme
• Workplace extras - Byond card and Extras discount
• Mortgage advice
• Holiday buy and sell scheme
• Bank holiday flexibility
• Volunteering day x 1
• Birthday leave x 1
• Help@Hand

VIRTUS is an equal opportunity employer. As part of our commitment to fight for equality, we work to ensure a fair and consistent interview process. We celebrate diversity and we are committed to an inclusive work environment.

We reserve the right to close this post for applications should sufficient applications be received.

Search Firm Representatives Please Read Carefully

VIRTUS Data Centres does not accept unsolicited support from search firms for employment openings. CVs/resumes submitted by search firms to any VIRTUS employee without an active, written search agreement for a specified role will become the property of VIRTUS. No fees will be paid for candidates hired from agency submissions made without such an agreement. Existing agency partnerships must adhere to position-specific terms outlined in their agreements. Please refrain from calling or emailing regarding this matter