Role Overview
The Financial Controller is responsible for overseeing the financial management, control, and regulatory reporting of the credit union in line with UK regulatory requirements. The role ensures compliance with Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) standards, maintains robust financial controls, and supports the Board in safeguarding members’ assets and ensuring financial sustainability.
Key Responsibilities
Financial Management & Reporting
- Prepare accurate monthly management accounts and annual statutory financial statements in line with UK GAAP (FRS 102)
- Lead budgeting, forecasting, and financial planning processes
- Monitor financial performance, including capital adequacy, liquidity, and loan portfolio performance
- Maintain and oversee the integrity of the general ledger and financial systems
Regulatory Compliance (PRA/FCA)
- Ensure full compliance with PRA and FCA requirements for credit unions
- Prepare and submit regulatory returns (via RegData) accurately & on time
- Monitor key prudential ratios (capital, liquidity, provisioning)
- Act as the main point of contact for regulators
Internal Controls & Risk Management
- Develop, implement, & maintain effective financial controls & governance frameworks
- Support the risk management framework, including ICAAP (if applicable)
- Identify financial and operational risks and implement mitigation strategies
- Ensure compliance with anti-money laundering (AML) and financial crime requirements
Treasury & Liquidity Management
- Manage liquidity in line with PRA requirements and internal policies
- Monitor cash flow and ensure adequate funding for lending activities
- Oversee investment of surplus funds within regulatory limits
Audit & Governance
- Coordinate external audits process
- Ensure timely implementation of audit recommendationsPrepare financial reports for the Board and relevant committees (e.g., Audit/Risk Committee)
- Support the production of the Annual Report
Payroll & Tax
- Oversee payroll, pensions (auto-enrolment), and HMRC compliance
- Ensure timely submission of PAYE, and other statutory obligations
Team Leadership
- Manage and develop finance team members (current headcount 3)
- Promote strong financial discipline and continuous improvement
Key Skills and Competencies
- Strong knowledge of UK GAAP (FRS 102)
- Understanding of PRA/FCA regulatory framework for credit unions
- Experience with regulatory reporting systems (e.g., RegData)
- Strong analytical and financial modelling skills
- Excellent attention to detail and governance awareness
- Ability to communicate effectively with Boards and regulators
Qualifications and Experience
- Fully CIMA qualified accountant
- Significant experience in a senior finance role within financial services at least 2 years post CIMA (credit union experience highly desirable)
- Experience dealing with PRA/FCA regulatory requirements
- Strong knowledge of financial controls, risk, and compliance
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