As a key member of the Management Team, this role reports directly to the CEO and is responsible for overseeing a small but experienced transactional finance team.

The position ensures the accuracy and timeliness of all Accounting, Finance, and Compliance transactions and reporting. It also involves monitoring, measuring, and achieving Key Performance and Risk Indicators within defined timeframes.

The core purpose of this role is to ensure that the Accounting, Finance, and Compliance functions operate effectively in support of the business, while proactively identifying and mitigating potential risks.

Working closely with the CEO, the role contributes to the implementation and ongoing management of financial systems and internal controls to ensure compliance and risk management. It also includes the preparation of Management Accounts and submission of Regulatory Returns.

Responsibilities and Primary Functions

• Play a full and active role as a member of the Credit Union’s Management Team.
• Ensure that Management Accounts, Payroll records, Statutory Accounts, and Budgets for the Credit Union are prepared, and that suppliers and staff are paid on time.
• Manage a small team of staff with responsibility for processing member transactions and recovery of missed loan payments.
• Ensure that Finance and Compliance policies and procedures are kept up to date.
• Act as the main point of contact with both Internal and External Auditors, providing all required information within the agreed timescales.
• Meet targets as agreed by the Board of Directors.
• Help develop monitoring plans and Key Performance Indicators to give appropriate and current management information.
• Alert the CEO of any potential breaches of internal triggers.
• Perform daily liquidity monitoring and forecasting.
• Develop the accounting system to adequately report Accounting and Financial information.
• Assist in providing regular Financial Management Reports to the Board and Senior Leadership Team.
• Perform monthly Money Laundering checks.
• Legal Compliance – To assist the CEO to ensure that the Credit Union complies with relevant laws and regulation, in particular Money Laundering, Data Protection, Health and Safety, Employment and Consumer Credit Regulations.
• Prepare the Budget and Financial Information for the Business Plan.
• Identify any efficiencies that can be implemented in the Finance Team.

Specific Tasks

• Preparation of the monthly Management Accounts.
• Manage the work plans of the Finance Team.
• Lead on the training and development of the Finance Team and be responsible for setting their annual objectives.
• Provide feedback to the Senior Leadership Team and the Board of Directors through regular written reports.
• Escalate any emerging issues or risks to the Leadership Team.
• Manage Financial Reporting and scenario planning.  
• Complete Statutory and Regulatory Returns for the Financial Conduct Authority, the Prudential Regulation Authority, HMRC, and External Auditors.
• Carry out monthly Money Laundering and quality checks for Compliance purposes.
• Prepare the Management Accounts for the CCU Members Society Lottery, ensuring adequate provision is made for the Audit of their accounts.

Credit Union Regulation

• Become familiar with and understand the Credit Union Source Book and Prudential Rule Book for Credit Unions.
• Understand Accounting Regulation including FRS102.
• Assist the CEO with ensuring that the Credit Union meets the regulatory ratios and that the Board and Senior Leadership Team are kept up to date with performance against these ratios.
• Monitor Internal Audit recommendations and report progress to the CEO.

Supervision Received

• The post holder will be in regular contact with the CEO, however, will be expected to work on their own initiative and expected to deal with day-to-day problems as they arise.
• The Head of Finance will be expected to escalate any significant matters to the Leadership Team.