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Irish League of Credit Unions (ILCU)


Financial Controller

 

Role Purpose

Reporting to the Head of Internal Operations, the Financial Controller is responsible for the day-to-day management and operation of the Finance Department in addition to having a proactive role in the overall structuring and direction of the department. This includes the management of all systems and procedures for the efficient discharge of the ILCU's finance function; the preparation of consolidated financial statements for the ILCU, and advising of the CEO, the Head of Internal Operations and the Board and Committees on all financial matters.

The Financial Controller will act as financial controller for the ILCU Office and subsidiary companies; has oversight of insurance operations in conjunction with the insurance supervisor and the monitoring of the investment performance of the SPS fund (Stabilisation Protection Scheme).

Role Responsibilities

  • Working with the Head of Internal Operations, cultivate strong working relationships with the Leadership Team and management to encourage collaboration and achievement of ILCU objectives
  • Act as a trusted adviser for management, providing expert advice and support on all finance related issues and initiatives as well as insight on how to optimise the financial performance of the organisation
  • Provide advice, support and assistance to the CEO and the Leadership team regarding the preparation of the annual budget for the League Office, and present the same to the Board of Directors for approval.
  • Manage and maintain the budget development, reporting and control in all areas of the ILCU
  • Ensure that adequate tracking and reporting systems are in place to report on performance of all areas against budget, to explain variances and to initiate corrective action
  • Oversee and implement all necessary procedures for dealing with posting of accounts, cash handling, invoices, bank reconciliations, payments, wages and salaries administration, creditors, debtors, and the production of all necessary reports and accounts – for the ILCU and all subsidiary operations (ECCU; SPS Company; Internal Audit Company and the Foundation)
  • Prepare monthly financial statements for presentation to the ECCU Board following liaison with the Finance Manager ECCU
  • Ensure implementation of ILCU Board policy in all areas pertaining to the financial management of the ILCU and the subsidiary companies
  • Carry out initial analysis and develop recommendations/options as appropriate on financial matters requiring attention by the CEO, Leadership team and/or Board
  • Undertake feasibility studies and otherwise support the introduction of new financial services
  • Prepare all financial reports including all necessary management information necessary to support the Board and its committees
  • Ensure that appropriate systems of internal controls are in place to ensure the assets of the ILCU and all subsidiary operations (ECCU; SPS Company; Internal Audit Company and Foundation), and that a prudent cash-flow system is in place
  • Ensure that the financial records of the ILCU and subsidiary companies are consistent with current statutory; regulatory and professional requirements including relevant accounting standards
  • Monitor the returns of the SPS Company Fund, forecasting cash flow requirements and ensuring surplus funds are appropriately invested
  • Prepare bi-monthly VAT returns and ensure that ILCU Group maintains compliance with all tax requirements
  • Report as required to the Board of Directors and the Finance and Risk Committee, attending, and facilitating the Finance and Audit Committee meetings as required
  • Review, maintain, develop, and initiate ILCU’s financial policies and procedures, which support the organisation and adhere to the overall policies and strategies of the ILCU Board
  • Ensure that all appropriate accounting policies adopted are compliant with relevant accounting standards and other regulations; ensure compliance with Revenue Regulations in respect of Payroll and other taxes, including VAT
  • Represent the ILCU, as agreed with the CEO, in its contacts with credit unions, suppliers and other external bodies where required
  • Prepare the financial accounts of the ILCU and subsidiary operations for inclusion in the ILCU Annual Report, in cooperation with the League Auditor
  • Liaise with the auditors of the ILCU and all subsidiary operations
  • Oversee the Insurance Administration team, always ensuring compliance with all relevant legislation
  • Work with the Insurance Supervisor to ensure the growth and protection of the League’s income from the provision of insurance services is always maintained
  • Work with the Vendor Manager, provide financial expertise, direction and oversight of external partnerships/providers delivering finance and other services to the affiliated Credit Unions
  • Represent the ILCU on key finance forums and groups, including at events and conferences
  • Undertake special projects as may be directed from time to time by the Head of Internal Operations or CEO
  • Lead and manage the Finance team and support each colleague to achieve their full potential through clear goal setting and regular performance reviews
  • Deal with queries from, and aid, other ILCU teams and colleagues, and services as the main escalation point within the ILCU for complex finance issues
  • Champion a customer-focused approach and attitude across internal and external team interactions and relationships, and through the design and implementation of working procedures and processes
  • Any other duties which may be reasonably required from time to time, and which are commensurate with this role.

Role Requirements

Qualifications:
  • Third level degree in business, management, economics, or related discipline is desirable
  • A relevant Professional Accounting qualification (ACA, ACCA, CFA) is essential
  • Relevant financial services &/or Credit Union governance qualifications are desirable
Experience:
  • Min 7 years’ post qualification finance experience, gained in an accountancy practice or in a commercial &/or financial services environment
  • Strong technical proficiency and proven experience managing and delivering financial, management and budgetary management processes, and meeting all regulatory and compliance requirements
  • Strong analytical and numeracy skills to understand and interrogate financial data and deliver effective commercial advice and recommendations
  • Excellent problem solving and critical thinking application, enabling effective and timely decision-making
  • A customer-focused approach with strong organisational skills to deliver multiple operational, project and strategic deliverables to a variety of stakeholders to deadline
  • Excellent relationship management and teamwork skills, capable of working collaboratively with a range of stakeholders and contributors and facilitate discussion and alignment
  • Excellent communication skills (written and verbal) with strong presentation and influencing skills, with the ability to translate financial information into understandable messages for different audiences
  • Experience in people management, managing, training and development team members in a busy environment

This role involves the management of 5 x Finance Officers and 1 x Insurance & ECCU Supervisor.

To Apply

Interested candidates should apply by forwarding a CV and cover letter outlining their suitability for this position to: Margaret Davern, Chartered FCIPD, HR Adviser, Irish League of Credit Unions, 33 – 41 Lower Mount Street, Dublin 2. Email: mdavern@creditunion.ie

Closing date for receipt of applications is Monday 3rd October 2022
 

The Irish League of Credit Unions is an equal opportunities employer