Michael Clayworth

I am a accomplished and experienced Financial Controller who has a track record in setting up the financial framework that delivers end-to-end financial management, control, and reporting in the successful delivery of complex and fast-moving projects c£575M (so far).

Versatile senior finance leader who thrives in dynamic and regulated environments, enables organisations to scale, evolve, transform, and react to market, regulatory and organisational changes. Supported regulatory compliance, joint ventures, divestments, M&As and new product launches. Acts as a change enabler with precise cost tracking.

• Financial leadership that instils confidence in the financial position with 100% transparency and financial reporting that facilitates effective decision-making. 
• Financial excellence that embeds robust governance, internal controls, processes, and reporting. Greater visibility and understanding of cost drivers, savings and risks. 
• Multilevel stakeholder engagement and effective communication with both finance and non-finance stakeholders to manage expectations and serve as a central point of financial leadership to ensure projects succeed within a fast paced and constantly evolving environment.

I am a Certified Practising Accountant (CPA), and have been operating in cross-sector environments, including financial services, utilities and telecommunications, building my robust cost and financial credentials. I bridge the gap between finance and other functions such as IT, legal and operations. 

Career Break                                                                                   Sep 2022 – Present

Time off due to family medical emergency now resolved. Looking for next opportunity.

HSBC                                                                                               Oct 2021 – Aug 2022

Finance Lead, Global Regulatory and Change Transformation (Contract)                             

Engaged to implement and lead end-to-end financial management, control, and reporting for critical global regulatory and change transformation portfolio.

Delivered financial leadership and insight to support Head of Transformation Finance and Regulatory Change Director that improved portfolio performance; operated across programmes, building key relationships with global project teams in APAC, Middle East, Europe, UK, and North America that addressed financial control and reporting deficiencies.

• Managed £75M budget by leading global forecasting, identified key cost drivers that highlighted operational inefficiencies, implemented changes to planning and reporting which improved performance KPI’s.
• Developed high-quality management information, analysis and insights which supported decision-making and critical in meeting the 2022 cost challenge reduction of c.£5M (10%) without impacting delivery.
• Bolstered investment prioritisation at quarterly tollgate reviews through new financial modelling that addressed gaps in reporting, improved the financial reporting framework and reduced approval process by 40% (2 days).
• Built key relationship with Commercial Banking (CMB) and Global Banking and Markets (GMB) finance teams and delivered month-end close and 2021 year-end reporting across global regions to varying tight deadlines.
• Supervised and coached three PMO analysts on operational finance processes that improved financial integrity across ledger (P&L), purchase orders and statement of works. Realised marked improvement in Procure to Pay (P2P), reduced aged creditors report, outstanding invoices, and enhanced programme forecasting accuracy.
• Streamlined portfolio cost data consolidation process via Qlik Sense which automated month-end reporting into self service dashboard that eliminated multiple monthly files for reporting and distribution. 
• Implemented new legal cost recovery process for c.£1M of Syndicated Loans from external financial institutions by working with key teams across finance (AR and Europe) which delivered a solution for the programme.

Lloyds Banking Group                                                                        Jan 2015 – Oct 2021

Project Financial Controller (Contract)                                                                             

Played a pivotal financial leadership role in four main transformation programmes spanning corporate pensions, insurance customer delivery, General Data Protection Regulation (GDPR) and Schroders joint venture. 

Schroders Joint Venture (Schroders Personal Wealth): Mar 19 – Oct 21

As part of JV, Lloyds sought to combine financial lifecycles with Schroders’ investment expertise; controlled financial management from month-end, internal controls, and reporting.

• Managed £195M budget through detailed forecasting and performance review with programme workstreams and cross functional teams (Group Legal, Group Tax and Group Finance) that achieved multiple complex milestones.
• Delivered financial performance through detailed analytical insights and variance analysis which measured performance versus forecast, reported budget KPI’s, identified risk/opportunity impacts, and reflected latest view versus approved funding position. Provided confidence in financial position which enabled decisive decision making.
• Developed financial reporting and review of programme costs to workstream leads, presented to Executive Steering Group (ESG) and Senior Management with insightful performance commentary critical in fast-moving environment.
• Implemented the operational finance framework through which the programme operated, established robust internal controls that prevented non-compliance and ensured programme remained within governance.
• Interlocked with finance on month-end Flash versus Actuals reporting and analysis, achieved year-end deadlines, addressed audit requirements and maintained financial integrity through error identification and correction.
• Demonstrated financial expertise with business case submission, verified key approval requirements, determined Revex/Capex/Opex spend and eliminated cost challengers which secured substantial programme funding.
• Introduced detailed contract review process with suppliers which improved P2P process, identified and tracked variances and discrepancies and ensured Lloyds Bank met commitment to the Prompt Payment Code. 
• Identified joint venture recharges and implemented Transition Service Agreement (TSA) billing process in 2021 which crucially allowed Lloyds Bank to start charging services and support to the Joint Venture. 
• Supported Group Legal to manage c.£5M legal costs which achieved Legal Change of Control 2019.

Records Management GDPR Compliance: Jan 18 – Mar 19 

Guaranteed adherence to legislation, secured £23M for future phases; implemented resilient financial framework and worked closely with programme leads.

• Awarded £32M funding through business case submission and delivered £2.1M savings. 
• Partnered with Group IT to identify cost component of programme and determined CAPEX / REVEX funding.
• Presented monthly reporting packs, asset depreciation schedule, and deployed Clarity Time Recording System. 

Insurance Customer Delivery Transformation: Jul 15 – Dec 17

Following external audit, facilitated rectification of issues for £21M programme; ensured financial integrity and transparency, realised cost savings, and delivered reporting.

• Handpicked to join Senior Leadership team  reporting directly to Programme Director; imparted a wealth of financial management, insight and governance / controls experience to enable productive decision-making.
• Negotiated successfully with Finance for c.£2M of investment spend to be treated as CAPEX investment under IFRS. 
• Oversaw end-to-end programme lifecycle, and complimented by Investment Committee for business case.
• Finance lead for Internal Audit Review through which programme attained highest rating.

Corporate Pensions Transformation: Jan 15 – Jun 15

Enabled stabilisation of corporate pensions operations and auto-enrolment backlog reduction, with NPS increasing from 1* to 5*; delivered programme closure.

• Managed £13M complex funding arrangement between Scottish Widows and Lloyds finance teams. 
• Scaled back financial oversights through governance and controls, produced and presented all Management Information, FTE and risk / opportunity reports and variance analysis to senior stakeholders.

Tesco Bank:  Oct 2013 – Aug 2014

Programme Accountant (Contract)                                                                                   

Owned the financial management, reporting and controls for a programme that supported Tesco Bank’s aspirations to be the first supermarket to offer personal accounts. Drove financial impact and reporting for £66M initiative. 

Achieved 0.3% variance against £66M annual budget, yielded £400K saving against projections; performed deep dive of FY 2013 costs and identified contingency funding efficiency.

• Delivered MI reporting capability with a transparent view of budget movements and change request impacts.
• Established end-to-end controls, and managed procurement process for all workstreams.

Certificate in International Reporting Standards (IFRS), ACCA, UK

Certified Practising Accountant, CPA Australia

Bachelor of Commerce, Accounting and Finance, Griffith University, Australia