An opportunity has arisen with our client for a highly motivated individual with a proven track record to join our senior management team.
Our client is a community-based credit union, with offices in Cork with assets in excess of €108 million. Our clients mission is to provide financial services for all our members in a professional compliant manner, not for profit, but for service. We strive to serve and assist our members for all their financial needs.
Position: Finance Officer
The Finance Officer (FO) will report directly to the CEO and will have overall responsibility for the delivery of timely and accurate financial and management reporting. The FO will support the CEO in executing the strategic plan and business model development of the Credit Union from a financial perspective. The FO will support the development and execution of the Finance Strategy and ensure alignment with the overall objectives of the strategic plan.
This role will be an integral part of the senior management team and will manage a best-in-class financial function to meet the current and future needs of this community-based credit union and to ensure its long-term financial sustainability and value proposition to members.
This role is a Pre-Approval Controlled Function role under the Central Bank’s Fitness & Probity requirements.
Principal Responsibilities:
Financial Information & Reporting
-Production of annual projections, monthly management accounts with supporting schedules, prior year and variance reporting.
-Develop Key Performance Indicators (KPI’s) and manage the reporting of financial information for all function areas to aid decision-making and improve the overall credit union performance
-Monitor and report the monthly financial status of the credit union by developing forecasts, reporting results, analysing variances and developing improvements.
Strategic Plans, Business Model Development and Financial Strategies
- Lead and deliver on the creation and implementation of strategic business plans, business model development and financial strategies for the credit union.
- Provide support to the CEO in discharging their obligations under the Credit Union Act.
- Contribute financial and accounting information, analysis, and recommendations to strategic thinking and direction and business cases for new projects and products.
- Develop financial strategic projections, forecast requirements, monitor budgets and action plans.
- Report performance measures that support the strategic direction and assist in the monitoring and continuous improvement of every area of the credit unions operations e.g. key ratios, income analysis, product/loan analysis, cost analysis, productivity and performance, etc.
Investments
-Assist the CEO in the administration of a large investment portfolio and ensuring regulatory and internal policy compliance regarding investments.
- Manage liquidity to meet the credit union requirements.
- Analyse and recommend to the CEO and Investment Committee on maximising the return on invested funds by identifying investment opportunities and maintaining relationships within the investment community and relevant stakeholders.
Other
-Oversee payroll, the accounts function, the cash function, end of day procedures to include daily office balancing, all reconciliations, including bank reconciliation and the electronic member payment’s function.
-Co-ordinate with the credit control function and ensure compliance with provisioning
-Lead & facilitate the statutory interim & annual audit with external auditors.
-Responsible for the preparation of operational, regulatory and financial returns to third parties to include the Central Bank, ILCU, and Revenue.
-Understand and mitigate key elements of the risk profile for the finance function and report any risk or compliance issues promptly to the Risk & Compliance Officer and CEO.
-Develop and maintain an efficient, high-quality system of internal control and reporting, ensuring compliance with all legal and regulatory requirements in finance.
- Direct the daily operations of the finance and electronic payment’s function
-Continuously monitor, review and improve, policies, procedures, controls, operating and people processes and systems to maximise efficiency and effectiveness in every area of finance.
Senior Management Team
-Support the senior management team with relevant, accurate, timely and useful financial information that assists in the performance management of every function area of the credit union
-Participate as a contributor of the senior management team and work cohesively with team members to achieve the standards of excellence and performance required to reach the vision of the credit union.
-Maintain good relations with all members of the management team
-Continuously act as a role model leader demonstrating the highest standards of professionalism, behaviour, ethical management, integrity and honesty.
Requirements of the Role
The successful candidate will:
-Be a qualified Chartered Accountant ideally with post-qualification experience.
-Experience in credit union or financial services sector or auditing in the credit union sector would be advantageous.
-Advanced knowledge of excel is required.
-Have a high level of commercial awareness and strategic thinking skills.
-Act as a role model leader demonstrating the highest standards of professionalism, behaviour, ethical management, integrity and honesty.
This role will be offered on a 2-year contract basis initially.
Please email Stephen.Maguire@charteredaccountants.ie in confidence to apply or with any queries you might have about the role.
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