Head of Finance - PCF 11 New

You will be responsible for managing and developing a team of finance professionals, at various stages of their careers, ensuring that appropriate annual objectives are in place and that effective performance reviews are undertaken. Working with the HR Business Partner, you will empower, nurture and engage team members in an inclusive culture through coaching, mentoring and team-development in order to increase productivity performance.

The Head of Finance is expected to consistently demonstrate high standards of personal integrity and performance, and make a substantial contribution to Boards and Committees. This is a Controlled Function role (PCF 11) as defined by the Central Bank Reform Act Regulations 2011, and will comply with the Fitness and Probity, and Individual Accountability Framework obligations.

Key Responsibilities

Financial Control:

• Work closely with the Financial Controller / Finance Manager to ensure appropriate financial controls are in place across the business ensuring the completeness and accuracy of the general ledger.
• Undertake and document monthly reviews of P&L statements and balance sheet reconciliations, in accordance with established Group standard.
• Ensure compliance with the Group Accounting Policy Manual.
• Establish and maintain process notes and end user computing (EUC) documentation, undertaking periodic reviews / updating as appropriate, in accordance with Group policy.
• Ensure daily reconciliations are undertaken and reconciling items documented, investigated and cleared in a timely fashion (incl. bank, payment processing, forward flow allocation and customer receipts).
• Maintain and observe appropriate accounting policies, preparing papers to justify the existence / treatment of material items, including existence of intangible assets, provisions, and treatment of income.
• Ensure Forward Flow (securitisation) reporting (incl. investor reports) is completed in a timely fashion, working closely with Treasury colleagues to ensure appropriate reviews are completed and queries responded to in a timely manner with sufficient detail/diligence.
• Lead Financial embedding of a new lending platform ensuring delivery meets finances requirements

Reporting:

• Ensure business unit financial (interim/year-end) returns, regulatory returns, tax returns and statutory accounts are produced accurately, within agreed timescales and with appropriate controls in place.
• Support bringing currently due statutory accounts up to date
• Act as a key point of contact with external auditors and internal teams including but not limited to regulatory reporting team, tax team, central finance teams, risk and funding teams.
• Ensure a thorough ICAAP process is carried out for the business unit with input from the appropriate stakeholders and approved by the Risk and Compliance Committee.

Business Strategy & Budgeting:

• Work with the Exco on the development of the business strategy and the three-year plan.
• Lead the development of the detailed budget resulting from the strategic plan and ensure that the budget is completely and accurately recorded in the budgeting system.
• Coordinate periodic re-forecasting processes, in accordance with Group requests. Engaging fellow exco members to agree appropriate updates to NBV, margins, bad debt and cost expectations. Providing robust / pragmatic challenge to ensure a realistic view of performance is provided, whilst exploring all material risks and opportunities with a view to preserving the budgeted AOP. Any deviations should be documented and communicated to key stakeholders (incl. Motor Head of Finance and Motor CEO).
• Ensure appropriate Exco owners are assigned responsibility for each component of the 3YP and agree / provide necessary management information to track progress (incl. monthly cost budgets and NBV / margin projections).
• Form an active part of the new Pricing and Commercial Strategy Forum, ensuring that financial objectives are maintained whilst supporting the growth MFI against its commercial objectives.
• Provide leadership and strategic input into the business case development for new business opportunities.

Risk Management:

• Present and report on financial risks to the business Risk and Compliance Committee.
• Act as an effective member of the Risk and Compliance Committee through understanding and challenging to ensure business risks are captured and reported.

Business Performance Management:

• Business financial performance management – provide insightful analysis and commentary to be used to challenge the business’s performance, ensuring financial targets are met and that the performance is appropriately communicated.
• Management reporting – provide accurate and timely reports to the Exco and Retail Exco to present the monthly performance vs the budget, prior year and forecast
• Forecasting – ensure that complete and accurate forecasts are prepared for the business.
• Pricing - ensure that products are structured/priced to deliver appropriate returns using the consistent and accurate application of Return on Tangible Equity (‘RoTE’) measures.
• Project reporting – working with the Change team, ensure that all project reporting is complete and accurate.

• Lead a high performing, engaged team, and sponsor people initiatives within the team
• Set the tone within the function/business by encouraging an inclusive culture and role modelling the company values and expected behaviours
• Manage the recruitment, development, reward and talent & succession planning of the team
• Role model the value of diversity in building high performing teams
• Establish an effective communication and feedback framework to ensure messages are effectively disseminated throughout the function
• Support sustainable growth though sponsoring career development and robust talent & succession planning

Risk & Compliance

Ensure that all Governance and Compliance requirements are adhered to and all reporting and reviewing activities required by the Regulatory Bodies are carried out to the standards required

Skills & Experience

Essential:

• ACA, ACCA, CIMA or equivalent
• Previous Board level experience within financial services
• Strong commercial acumen and understanding of financial control and financial planning and analysis
• Advanced presentation and communication skills
• Experience of leading and developing high performing teams
• Irish resident

Desirable:

• Previously held PCF 11
• Experience of working in the Automotive finance industry
• Experience in a FTSE 250 or 350 financial services organisation

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