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South Western Railway: Finance Transformation Project

Background

South Western Railway (SWR) is a British train operating company with a turnover of approximately £1 billion, serving a wide range of destinations in southwestern England. It is privately owned by FirstGroup, a leading private sector provider of transport services, with revenues exceeding £4.8 billion. As a key player in the UK transport sector, SWR sought to modernise its finance function to better align with its strategic goals and support business growth.

The Challenge

Cedar partnered with SWR to address a critical need: a comprehensive finance transformation programme, which required rebuilding their finance team. This complex initiative demanded the deployment of multiple specialists across a variety of finance roles, ranging from transactional positions to senior management.

Key challenges included:

  • Bridging Skills Gaps: Identifying and sourcing niche skills to support the commercialisation of SWR’s finance function.
  • Recruiting for Culture Fit: Ensuring candidates not only had technical expertise but also aligned with SWR’s organisational culture.
  • Securing Hard-to-Find Talent: Attracting high-calibre professionals in a competitive job market.
  • Time Sensitivity: Completing the team rebuild within a short timeframe to avoid delays in the transformation programme.

 

The Solution

Cedar adopted a tailored and data-driven approach to meet SWR’s unique hiring needs:

  • Deep Understanding of Business Goals: We worked closely with SWR to gain a thorough understanding of their finance transformation objectives, identifying key skills gaps and defining the expertise required for success. This collaborative approach ensured we could precisely target the talent needed to commercialise their finance function.
  • Specialist Multi-Hire Campaign: Leveraging our expertise in finance recruitment, we launched a strategic campaign to identify and attract niche talent. By incorporating advanced data and analytics, we were able to source and screen high-quality candidates effectively.
  • Overcoming Recruitment Challenges:
    • Hard-to-Find Skills: Our team leveraged an extensive network of finance professionals to source specialists for highly technical roles.
    • Cultural Fit: We conducted in-depth evaluations to ensure candidates aligned with SWR’s values and workplace culture.
  • Rapid Recruitment Process: We streamlined the recruitment process to secure top-tier talent quickly, handling:
    • Interview Scheduling: Managing a seamless process for both permanent and interim candidates.
    • Offer Negotiations: Acting as a mediator to secure competitive offers while meeting candidate expectations.
    • Results-Oriented Execution: Over 6 months Cedar successfully filled 10 key positions, including both permanent and interim roles, enabling SWR to advance their finance transformation programme without delays.

Types of Role’s Hired

  • External Reporting Manager
  • Senior Finance Operations Manager
  • Internal Audit & UK SOX Manager
  • ERP Finance Project Manager
  • Infrastructure Accountant
  • Management Accountant 

 

The Result

Through our innovative and comprehensive hiring approach, Cedar enabled SWR to:

  • Achieve Commercialisation Goals: Transition the finance function into a strategic, value-driven department.
  • Ensure Sustainability: Build a team equipped with the expertise to support long-term growth.
  • Accelerate Transformation: Deliver the finance transformation programme on schedule.

This partnership not only addressed SWR’s immediate hiring needs but also laid the foundation for a stronger and more agile finance function.

 

“Cedar has been an invaluable partner in our finance transformation project. Their expertise helped us rebuild our team, deploying specialists across various finance roles. With Cedar’s assistance we were able hire a number of excellent permanent and Interim candidates quickly to meet the project deadline. We look forward to continuing our collaboration.”

– Mazhar Mahmood, Head of Financial Control and Reporting

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