Title

Chief Finance officer

PRA - Senior Management Function

SMF 2 – Chief Finance

PRA Prescribed Responsibilities

• Responsibility for managing the allocation and maintenance of capital, funding (where applicable) and liquidity (O)
• Responsibility for the production and integrity of the firm’s financial information and its regulatory reporting (Q)

Regulatory Approval Required

Yes

Department

Finance & Regulatory Reporting.

Reporting to

Chief Executive Officer

Direct reports

Head of Finance

Deputy Manager – Reg Reporting

Assistant Manager – Reg Reporting

Deputy Manager – Finance

Assistant Manager - Finance

Executive Management

Member of:

Executive Management Committee (EMC)

Asset Liability Committee (ALCO)

Investment Committee (IC)

Senior Manger Crisis Team (SMCT)

Planning

• Assisting the CEO in formulating the Bank's future direction and supporting tactical initiatives
• Monitor and direct the implementation of strategic Business Plans
• Develop Financial and Tax strategies
• Manage the capital request and budgeting processes
• Monitor, assess and recommend the impairment provision in accordance with IFRS 9
• Develop performance measures and monitoring systems that support the Bank's strategic direction
• Accountable for model management of ICAAP, ILAAP and IFRS9 and its assurance

Operations

• Participate in key decisions as a member of the executive management team

• Maintain in-depth relations with all members of the management team
• Manage the accounting, regulatory reporting and tax departments
• Oversee the Bank's transaction processing systems
• Implement operational best practices

Financial Information

• Accountable for the issuance of financial information accurately
• Report financial results to the Board of Directors
• Report financial and management information to ACB.

Regulatory Reporting

• Oversee the Regulatory reporting function
• Ensure the regulatory reporting to the PRA, FCA and BOE are completed as per the regulatory guidelines and within regulatory prescribed timelines.

Risk Management

• Understand and mitigate key elements of the Bank's risk profile
• Construct and monitor reliable control systems
• Ensure that the Bank complies with all legal and regulatory reporting requirements
• Ensure that record keeping meets the requirements of auditors and government agencies
• Report risk issues to the audit committee of the board of directors
• Maintain relations with external auditors and investigate their findings and recommendations

Funding

• Responsibility for managing the allocation and maintenance of capital, funding and liquidity
• Monitor cash balances, available and required liquidity and cash forecasts

Third Party Relationships

• Maintain banking relationships
• Manage any third parties to which accounting, regulatory reporting, tax, or finance functions have been outsourced

Skills and Competencies required

• Candidate must have at least a Bachelor’s degree in Finance, Accounting, Business Management, Business Administration.
• Qualified Chartered Account (ACCA) or its equivalent especially ICAEW qualified Chartered Accountant or ICAS (equivalent Scottish qualification) will be preferred
• 5-7 years of Management Experience in Finance role in a UK regulated Bank.
• Should have working knowledge and experience of IFRS 9, other UK statutory accounting requirements for a PIE, PRA, FCA, BoE regulatory reporting
• Excellent Interpersonal Skills with the ability to interact with all levels of staff and management
• Experience of managing key stakeholder relationships, including external auditors
• Proven strong leadership and people management skills with strong abilities to communicate complex issues at board level both orally and in writing
• A reputation for integrity and a broad appreciation of financial and international matters are essential