The Co-op Credit Union is a saving and loans co-operative, regulated by the Bank of England and the Financial Conduct Authority. We provide our services to those working in the co-operative sector, members of various co-operative businesses and the members of the trade union USDAW.
We are a member-owned, values-driven business which seeks to support low and moderate income households to borrow affordably and build savings to support their financial resilience. In a time of high indebtedness our services have never been more sorely required. We are on a growth journey having recently appointed a new Chief Executive with a mandate to grow the credit union.
We are now looking for a motivated financial analyst to manage the finance, banking and credit functions of the credit union, and to advise the CEO and board on financial management and planning issues. The role will also involve deputising for the CEO at appropriate times.
The role holder will line manage our part-time Credit Control Officer and is expected to work effectively across the credit union team as a member of senior management. This is an opportunity to join an ambitious and relevant organization with great potential for the role to grow with the organisation’s success.
Please send a CV along with a covering letter of no more than 2 sides of A4 which sets out, using examples, how you meet the key knowledge, skills and experience listed below to: Matt Bland, Chief Executive
Closing date: Monday 16th November, 2020
1. To be responsible to the CEO and board for the financial management of the credit union, including treasury and budget management.
2. To be responsible to the CEO and board for the management of the credit policy and collections processes to reduce arrears and write offs, including line managing our Credit Control Officer and managing our relationship with a third party debt collection agency.
3. To ensure correct accounting practices are followed across the credit union.
4. To ensure the accounts comply with the appropriate accounting standards (FRS 102), and with FCA, PRA and other credit union regulations and co-operative law.
5. To advise the CEO and board on financial, accounting and treasury management policies.
6. To ensure all financial processes are fully documented on an ongoing basis, to liaise with internal auditors to ensure they are followed, and to draw to the attention of the CEO and board any issues of concern.
7. To be responsible for financial and other key performance reports on a monthly basis for the management team and board.
8. To assist with three-year strategic business planning by modelling financial and member data.
9. To conduct stress testing and advise on financial risk management policies
10. To draw up and monitor the annual budget in consultation with the CEO and board
11. To be responsible for the preparation of all financial returns to the FCA, PRA, and other regulatory authorities
12. To manage provisioning and write-off policies and accounting.
13. To oversee payment processing and authorisation for all members and staff.
14. To be responsible for payments to staff, including pensions and other deductions.
15. To ensure timely and accurate bank reconciliations and treasury management.
16. To contribute to the functioning of the credit union management team.
17. To attend board meetings as required.
18. To work with the credit union management team on systems development, leading on accounting and financial and arrears reporting implications.
19. To undertake special projects as directed by the CEO.
20. To work effectively with others in order to make a positive contribution to the work of the credit union.
21. To undertake such other duties as may be reasonably required consistent with the role.
The credit union is committed to achieving equality of opportunities both as am employer and service provider. The role holder is expected to understand and promote this and all other policies of the organisation.
Key Knowledge, Skills and Experience
At least three years accountancy experience.
Experience of working with external and internal auditors.
Experience of providing high level financial reporting.
Experience of operational improvements and systems development
Experience of working with public, banking, voluntary or finance sector accounts.
Strong IT literacy with ability to use MS Office confidently.
Ability to understand, develop and implement banking & financial systems.
An understanding of how the collections process impacts on the financial sustainability of an organisation.
An understanding of the new GDPR regulations and the impact on Financial Services
Self- motivated and flexible approach
Able to work as a member of a team.
Commitment to driving up standards to meet targets and to improve customer service.
Must be highly organised and able to work confidently and independently with members and with other departments
Must be able to process information with a high level of detail and care; analyse member accounts, define what constitutes sensitive data
Able to deal with team members to train and support using the appropriate style
Good communication skills at all levels, both verbal and written with all staff and members volunteers and directors, ensuring information and decision making is clear and transparent
AAT or part CCAB qualified
Experience of working with credit union accounts
Experience of data analytics using e.g. Tableau or MS Power BI
If you are highly detail-focused and capable of analysing data with creativity and innovative in mind, you might be perfect for this position.
Industry: Banks and Financial Services
Work from home opportunities
Flexible working hours
Job Types: Full-time, Permanent
Salary: £30,000.00 per year
8 hour shift
Monday to Friday