The three positions to be retained in-house are as follows:

Role 1: Accounts manager (payables, receivables and credit control)

Description:
This role involves having responsibility for dealing with the global business services company on all
matters relating to accounts payable, receivables and credit control. The primary objective of this role
is to maximise efficiency in dealing with the management of working capital.

Person specification:
This person must have a strong personality and excellent communication skills, as the job will require
daily liaison with the GBS company. The person will be tenacious and capable of seeing tasks
through from start to finish.

The person appointed will be fully qualified.

Role 2: Payroll liaison manager

Description:
This role involves having responsibility for coordinating all matters relating to remuneration systems
and payroll services between the GBS company and Telford Engineering. As payroll systems will be
reorganised in the medium-term, the person will be expected to contribute to developing future
systems and procedures.

Person specification:
The position requires an individual who is mature and prudent, and will act with a cool head. In
dealing with payroll issues, the person will be meticulous and take sound decisions, only after careful
consideration. In view of the future changes in the payroll systems, the individual is expected to
demonstrate strategic vision.

The person appointed can be part-qualified, but with an expectation that the professional qualification
will soon be completed.

Role 3: Long-term asset and treasury manager

Description:
The position will hold responsibility for all matters relating to long-term asset management and cash
management that are retained in-house.

Person specification:
This is a high-pressure position requiring a dynamic manager prepared to introduce new ways of
doing things and provide innovative solutions. The individual will be highly motivated and prepared to
challenge and question when necessary, and capable of generating original ideas, suggestions and
proposals.

The person appointed must be fully qualified, and previous experience of a similar role is essential.

The team:

Lara Petrov (PQA)

Lara Petrov joined Telford Engineering two years ago and works as the accounts receivable manager.
While she is herself is single-minded, self-starting and dedicated in her own tasks; as a leader she
never likes to upset her colleagues and cares more about their personal issues and welfare than
focusing them on their overall objectives and tasks. She also has a tendency to overload them with
information rather than giving them specific guidance, assuming that the more they are told the more
effective they will be. Before joining the company a number of years ago, she worked as an accounts
clerk in a national supermarket chain. Petrov has to sit four more exams to complete most of her
professional level exams, but has not taken any examinations for four years. Petrov has personal
commitments caring for her elderly mother which Telford Engineering has been sympathetic and quite
flexible with and she frequently asks to work from home, if this is necessary.

Philip Russell (PQC)

As the manager of treasury and cash management, Philip Russell is regarded in the company as a
‘safe pair of hands’ and a reliable dependable member of staff. He has a strategic and commercial
perspective, working well with internal and external partners. He understands how to get the best out
of people and recognises the different contributions they can each make. Russell joined the company
directly from college and worked his way up the career ladder. He has spent two years working for
the manager of the payroll department as an accounting technician before he moved into his current
role in treasury and cash management. He has made excellent progress with his professional
examinations and expects to complete the qualification next year.

Rafael Sanchez (FQB)

Rafael Sanchez is currently responsible for credit control at Telford Engineering. He has worked in
this role for 18 months and has built up a reputation for being single-minded and good at getting
results. Since his appointment, receivables days-on-hand have reduced from 52 days to 35 days.
Although some of his colleagues find him somewhat ‘loud’ and dominant, Sanchez is confident and
assured. He is valued by senior colleagues because he writes clear, concise reports and presents his
views well. Sanchez completed his professional qualification last year, though admitted to being a
student who would ‘do enough to get by to achieve what he wants’. Before joining the company, he
was responsible for the management of all aspects of working capital in a smaller company.

Robert Stone (FQC)

Robert Stone has been head of long-term asset management at Telford Engineering for five years.
He set up this function when it was devolved as a specialised department. At the time the department
was created.
Stone had an opportunity to buy in tailored solutions, but often chose to build systems using his own
ideas, some of which involved a degree of creativity and risk. He has a reputation for his unrelenting
desire to get things done, and is prepared to stay in the office to see a task to its conclusion. Stone
completed his professional examinations five years ago, to his own self-imposed timetable.

John Smith (PQD)

John Smith has worked in accounts receivable for two years. He is seen as someone who is
meticulous and has a close eye for detail. Smith is regarded as a perfectionist, but inclines to worry if
things are going wrong or about the potential consequences of taking an incorrect decision. He lacks
any breadth of experience in other accounting functions or in any management capacity. Smith has
almost passed all of his final professional exams and scored exceptionally high marks in the three
exams he has passed.