Drogheda Credit Union Ltd.

Clarke House, Laurence Street, Drogheda, Co Louth
 

Chief Financial Officer

Drogheda Credit Union Ltd is a progressive, modern financial services provider, with over 52,000 members, asset in excess of €301 million and currently just over €58.1 million of those shares out on loan to members.  We are committed to providing a broad range of innovative financial products supported by the excellent service of a dedicated, well-trained staff. Our core value is to serve our members and the community, whilst striving to maintain the highest professional standards.

 

Job Purpose/Primary Objective

 

Reporting directly to the CEO and Assistant Manager of Drogheda Credit Union, the CFO will support in executing the strategic plan and business model development of the credit union from a financial perspective.  

They 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 one of the largest community based credit unions in Ireland to ensure its long-term financial sustainability and value proposition to members.

 

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.

  •  Develop finance and organizational strategies by contributing financial and accounting information, analysis, and recommendations.

  • Develop financial strategies, forecast requirements and resources, develop budgets and action plans.

  • Develop performance measures that support the company's strategic direction. 

  • Ensuring compliance with legislative/regulatory requirements from a financial perspective.

  • Complete key ratios, income analysis, product/loan analysis, cost analysis, productivity and performance, etc.  

 

Investments

 
  • Administration of a considerable investment portfolio and ensuring regulatory compliance regarding investments.

  • Be part of the Investment Committee to maximize return on invested funds by identifying investment opportunities; maintaining relationships with our advisors and the investment community. 

 

Financial Information & Reporting, incl. Projections 

  • Oversee the reporting of financial information to aid decision-making.

  • Liaise with other third parties to include internal auditors in relation to the credit union’s finance function.  Liaise with the Audit Committee as required.

  • Monitor financial performance by measuring and analysing results, initiating corrective actions and minimizing the impact of variances.

  • Co-ordinate & facilitate the statutory interim & annual audit with external auditors.

  • Report financial results to the senior management team, CEO and the Board.

  • Annual budgeting and the production of prior year & variance monthly reporting.

  • Oversee production of the monthly management accounts, to include P&L, balance sheet, cash flow, prepayments & accruals.  

Regulatory Returns  

 
  • Oversee the preparation of regulatory & financial returns to third parties to include the Central Bank, ILCU, and Revenue.

 
Accounts  
 
  • Oversee payroll, the accounts and bookkeeping function, the cash function, end of day procedures to include daily office balancing & ATM reconciliation, and the electronic member payments function.

 
Team  

 

  • Direct the daily operations of the finance function, analysing process, tasks, establishing priorities, developing team members in reaching high standards of work and performance targets, setting and reaching tight deadlines, and ensuring the finance function is run efficiently and effectively and the people operate as a cohesive team.

  • Continuously monitor, review and improve practices, policies, procedures, controls, operating and people processes and systems to maximise efficiency and effectiveness in every area of finance.  

The Requirements  

  • The successful candidate will be a qualified accountant with at least 10 years post-qualification experience in a financial management role preferably in the credit union, the financial services or regulated sectors.  

  • Candidates may also have experience in auditing in the credit union sector, experience in a financial management role in financial services or a similar role in a regulated entity.  

  • The CFO will have excellent skills and experience in financial planning and strategy, forecasting, reporting and presentation of financial information, budgeting, managing profitability, promoting process improvement, meeting regulatory requirements, preparation of monthly and statutory accounts, and IT systems.  

  • A proven track record in strategic thinking, business model development, commercial decision making and business case analysis, with strong communication skills. 

  • Experience of dealing with regulatory authorities including the Central Bank is preferable.  

  • The CFO will be an experienced people manager with excellent skills in developing and coaching team members to achieve high levels of performance.  

  • The successful candidate will be up-to-date with all developments in accounting, auditing and financial standards.

 
PCF Function
The role is a PCF under the Central Bank’s Fitness & Probity requirements.
 
Career Opportunity
This is a strategic career development opportunity for the right candidate.
 
The Benefits  
Salary and benefits are commensurate with the role, are benchmarked with the market and are negotiable DOE.
  
Interested candidates should send a CV by email to Sarah Lynch at recruitment@droghedacu.ie
Closing date for receipt of applications is Friday 20th September 2019.
 
Click link to access the credit union recruitment privacy notice:  https://www.droghedacu.ie/careers
 
 
Drogheda Credit Union is an Equal Opportunities Employer