Special Assignments

CFO SMF2 – Scaling UK Banking Entity

Published:
9th July 2021
Location:
London, London, United Kingdom
Category:
Job Type:
Role:
Finance and Accounting

Description

Reputable City Bank, a full subsidiary, is about to embark on their 5 year growth plan in-line with their target operating model. You will lead the bank with the CEO and EXCO taking a leading role in driving the achievement of this new bank’s ambitious growth plans, as it enters a new phase of evolution.

Post Pandemic Flexibility WFH has been agreed as a WFH 2/3days split.

Job Title - Chief Financial Officer (“CFO”)
Department - Finance
Function (if appropriate) Finance
Direct Report To: Chief executive Officer (“CEO”)
Direct Reports: 3 (and scaling) Financial Controller, Regulatory reporting, other

Working closely alongside the CEO, COO, CRO reporting directly to the CEO, the CFO has overall responsibility for management of the firm’s financial resources and the production and integrity of the firm’s statutory and management financial information and all aspects of regulatory reporting, In line with the statements of responsibility under the Senior Managers Regime.

A key member of the Executive Committee, working closely with the CEO to develop, design and deliver the Strategic Business Plan and strategic objectives.

Specific responsibilities:

Management Information

  • Provision of robust and accurate Management Information, regular reporting and data analysis to senior management and the Board to enable effective monitoring/control of the business and for informed decision making, in line with the banks strategy.
  • Preparation of financial commentary based on financial data, trend and variance analysis for relevant business areas/functions, CEO and Board Reports.
  • Data analysis for accuracy and integrity - for financial/ management/ regulatory reporting
  • Financial analysis of data including performance ratios calculations to indicate achievement of business goals, identifying areas for improvement

Regulatory

  • Regulatory reporting - preparation and submission of regulatory returns (weekly, monthly, quarterly, annually).
  • An in depth knowledge and understanding of the data/data enrichment for the completion of the regulatory returns

Statutory

  • Preparation of statutory accounts  including liaison with the external auditors and provision of relevant backup and commentary to auditors
  • Interpretation and implementation of IFRS accounting policies in line with the banks accounting policies
  • Corporation and VAT tax computations and submissions, including supporting paperwork, and acting as main point of contact for any communications with HMRC

Budgeting and expenditure

  • Oversee and supervise the following activities carried out by the finance function:
    • Engagement with Suppliers: utilities, phone, council etc.
    • Fixed assets register maintenance and depreciation schedule preparation
    • Petty cash transactions - control and reconciliation
    • Prepayments and Accruals
    • Invoice processing
    • Payment processing requests
    • Expense form processing
    • Intercompany accounts
    • VAT and other tax returns
  • Annual budgeting and financial planning process, with ongoing budget control and monitoring, to highlight overspending to relevant business areas to keep costs under control.

Departmental

  • Supervision and performance management of direct reports - setting objectives, regular reviews and staff development.
  • Monitoring and maintenance of the General Ledger, Financial accounts and Management accounts including back up, supporting schedules and reconciliations and Journal posting for month end and year end accounts
  • Optimise Finance team resourcing to ensure best utilisation of time and effort to deliver target results.
  • Improve, develop, and maintain financial processes to ensure effective running of the business area, ensuring procedures are put in place to execute the tasks effectively.
  • Prepare, review, maintain and update finance documentation, including Finance Process and procedures Manual

Control

  • 2nd line defence to challenge management and the business areas wherever necessary

Committees:

Various leaderships and memberships

Ryan Kaye

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