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- Tasks: Oversee financial management and ensure compliance with UK regulations for a credit union.
- Company: Join a reputable credit union dedicated to safeguarding members' assets.
- Benefits: Competitive salary, professional development, and a supportive team environment.
- Other info: Opportunity for career growth in a collaborative and innovative workplace.
- Why this job: Make a real impact on financial sustainability while leading a dynamic finance team.
- Qualifications: CIMA qualified with experience in financial services and regulatory compliance.
The predicted salary is between 55000 - 65000 £ per year.
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 recommendations
- Prepare 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
Financial Controller in Manchester employer: Penny Post Credit Union
Contact Detail:
Penny Post Credit Union Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Financial Controller in Manchester
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance sector, especially those who have experience with credit unions. A friendly chat can lead to insider info about job openings or even a referral.
✨Tip Number 2
Prepare for interviews by brushing up on UK GAAP and PRA/FCA regulations. We want you to be the go-to expert in the room, so practice answering questions related to financial controls and compliance.
✨Tip Number 3
Showcase your leadership skills! If you've managed teams before, be ready to share examples of how you’ve developed finance team members and promoted strong financial discipline.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Financial Controller in Manchester
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Financial Controller role. Highlight your experience with UK GAAP and regulatory compliance, as these are key for us. Use specific examples that showcase your skills in financial management and reporting.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Explain why you're passionate about the role and how your background aligns with our needs. Don’t forget to mention your experience with PRA/FCA regulations and how you can contribute to safeguarding our members’ assets.
Showcase Your Analytical Skills: We love candidates who can demonstrate strong analytical and financial modelling skills. In your application, include examples of how you've used these skills in previous roles, especially in budgeting and forecasting processes.
Apply Through Our Website: Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team at StudySmarter!
How to prepare for a job interview at Penny Post Credit Union
✨Know Your Numbers
As a Financial Controller, you'll need to demonstrate your strong grasp of financial management. Brush up on UK GAAP (FRS 102) and be ready to discuss how you've applied these standards in previous roles. Prepare examples of your experience with budgeting, forecasting, and financial reporting to showcase your expertise.
✨Regulatory Readiness
Familiarise yourself with the PRA and FCA requirements specific to credit unions. Be prepared to discuss how you've ensured compliance in past positions, including any challenges you faced and how you overcame them. This will show that you understand the regulatory landscape and can navigate it effectively.
✨Highlight Your Leadership Skills
Since this role involves managing a finance team, think about your leadership style and how you've developed team members in the past. Prepare anecdotes that illustrate your ability to promote financial discipline and continuous improvement within your team. This will help convey your capability as a leader.
✨Prepare for Technical Questions
Expect technical questions related to financial controls, risk management, and compliance. Review key concepts and be ready to explain how you've implemented effective financial controls and governance frameworks. This will demonstrate your analytical skills and attention to detail, which are crucial for the role.