Finance and Compliance Manager

Finance & Compliance Manager at Advance Credit Union

Advance Credit Union is committed to securing savings and affordable loans for everyone living or working in the B postcode, across Birmingham and Solihull. We are a not-for-profit organisation owned by our members and focused on community lending. We have 6000 members and are looking to grow to be able to support even more people across the region. Are you an experienced financial & compliance professional looking to make a significant impact in a dynamic and growing organisation? Join us as a Finance & Compliance Manager and help shape the financial and regulatory processes of a member-focused business, helping thousands across the region to fulfil their financial goals.

Overview

Salary: £36,000

Reporting to: General Manager/Board Of Directors

Location: Advance Credit Union is based at 200 Sutton New Road, Erdington, Birmingham

Special conditions: DBS check/ Pre-approval by the PRA & FCA

Deadline for Application: 12pm Monday March 31st 2025

Method of application: Send CV and cover letter regarding your suitability for this role to Faye Bailey, General Manager of Advance Credit Union: faye.bailey@advancecu.org.uk

Role Purpose

• With Board oversight, strategic responsibility for the financial direction of Advance Credit Union, ensuring legal and financial regulatory compliance for the Credit Union
• To be responsible for the day-to-day financial processing and bank reconciliation
• With Board oversight, responsible for ensuring full compliance with all legislative, regulatory and policy and procedural requirements

Finance Related Duties

• To ensure that accounts & quarterly returns to the FSA and other statutory/ regulatory bodies and funders are prepared and disclosed in an appropriate and accurate form
• To produce annual budgets and financial forecasts to ensure the continued growth of the Credit Union, ensuring appropriate accounting procedures are in place
• To be responsible for financial reports on a monthly basis for the GM and the Board of Directors
• Assisting the Board of Directors and GM in the presentation of the Credit Union strategic plan, management reports and financial projections
• Assisting the Board of Directors & GM in preparations for the Annual General Meeting
• With Board direction, to oversee the financial investment decisions of the Credit Union, ensuring due diligence and the avoidance of unethical investments
• To manage provisioning and write-off polices & accounting
• To liaise with with the appointed auditors over financial matters, and to oversee that any recommendations made are implemented appropriately
• Carry out daily, weekly, monthly & periodic financial transactions
• Perform all reconciliations of transactions, including bank, debtors and creditors management
• Process grant returns, income & expenditure, collating grant statistics and liaising with grant providers
• Manage the Credit Union’s liquidity and investments
• Preparation of annual budgets for income, expenditure, salaries, pensions and operational expenditure for the Board
• Monitoring financial processes and ensuring continuous improvement and best practice to minimise financial risk to the Credit Union, including financial crime and fraud
• Undertaking any other appropriate duties as requested by the Board of Directors or the GM

Compliance Related Duties

• Supporting the Board of Directors and GM in meeting their compliance responsibilities under the PRA rulebook and FCA Creds handbook
• Developing & managing the Credit Union’s compliance monitoring plan, considering forthcoming compliance issues and horizon scanning
• Providing monthly Compliance Tracker Reports to the Board of Directors, advising on completed & upcoming compliance monitoring activities as required and in line with the Compliance Plan
• Developing & managing compliance system & controls, evidencing that the Credit Union’s approach is member centric and assesses on-going effectiveness with the relevant regulation & legislation, and regulatory guidance
• Recommending & drafting proposed amendments to governance policies within the annual cycle, focusing on guidelines, rules and procedures to ensure compliance, with a member-centric approach
• Monitoring & ensuring compliance of documentation, product terms, advertising, marketing materials & website information
• Ensuring that complaints are managed in line with FCA rules and the Credit Union’s internal procedures
• Reporting compliance exception appropriately and maintaining an accurate breach register and ensuring all remedial work is completed
• Maintaining and updating the FCA Connect Directory
• Undertaking any other appropriate duties as requested by the Board of Directors or the GM

Person specification

Education and Qualifications

Essential Criteria

• Good standard of general education in particular English Language and Mathematics
• AAT or part CCAB qualified

Experience & Knowledge

Essential criteria

• A minimum of 3 years accountancy experience
• Previous experience of developing & managing compliance systems & controls
• Experience of acting within and meeting regulatory framework expectations and working within a regulated environment, ideally FCA/PRA
• Experience of identifying and reporting risks effectively

Desirable criteria

• Previous experience within a financial services environment
• Sound overview of responsible finance and financial inclusion, including Credit Unions
• Awareness and understanding of financial issues affecting individuals
• A clear understanding of the expectations of regulatory bodies in relation to Credit Control

Skills & Abilities

Essential criteria

• The ability to work in a team and individually.
• The ability to work in a tidy and methodical manner demonstrating a high level of attention to detail.
• Strong interpersonal skills, attentive listener, clear communication.
• Adaptability and resilience

Desirable criteria

• Data analysis understanding impact of lending decisions on loan arrears and assisting development of lending criteria
• The ability to work under pressure

Other Conditions

Safeguarding

Advance Credit Union is committed to safeguard vulnerable people. The post holder is responsible for promoting and safeguarding the welfare of vulnerable people through the policies, procedures and operation of the credit union. The post holder will be required to acquire a thorough knowledge of the Credit Union’s principles, controls and ethics

Information Management

The post holder will be responsible for ensuring that all information used by Advance Credit Union is held and transmitted securely in a manner commensurate with its sensitivity, and that it complies with the provisions of the Data Protection legislation.

Health and Safety

Health and safety laws require all employees to help Advance Credit Union maintain and improve health and safety standards. This means that the post holder must take reasonable care of his/her own and others’ health and safety and co-operate with any reasonable request to support Advance Credit Union in meeting their health and safety legal responsibilities.

All duties and responsibilities must be carried out in line with Advance Credit Union Health and Safety Policy and any local safety procedures.

Equal Opportunities

Advance Credit Union is committed to a wide range of diversity issues, including Equal Opportunities. The post holder is expected to demonstrate a commitment to a wide range of diversity issues, including Equal Opportunities.

Variations to Job Descriptions

Due to changing customer demands, duties and responsibilities are likely to vary from time to time and the Board of Directors therefore retains the right to amend job descriptions to reflect changing requirements.

Training and Development

Advance Credit Union is committed to the personal and organisational development of the individual. The post holder will be encouraged to identify job-related development needs and will undertake training offered by the Credit Union

Additional Information

This post requires you to work in our office, Erdington, Birmingham – flexible working options can be discussed

35 hours per week. Monday – Friday 9.00 -4.30pm

25 days annual leave plus statutory bank holidays

3% ACU pension contribution on total salary

Core Behaviours

Honesty and Trust– You are honest and trustworthy. You are aware of your impact on others including confidentiality. You actively work to foster an environment of mutual trust.

Excellence – You work to deliver a high quality service to meet customer, organisational and personal expectations. You adopt a ‘can do’ attitude in all of the work you deliver, ensuring it meets the needs of current and potential customers.

Simplicity – You actively seek ways to prevent over-complication or confusion, by adopting the most simplified approach to work. You communicate clearly and concisely, ensuring that the message is understood by all.

Working Together and Respect- You respect and support colleagues to reach common goals, sharing information and expertise

Responsibility – You take ownership for your work and you use your initiative to deliver. You are accountable for your own performance and development and you take responsibility for your actions and decisions.