Head of Finance – Credit and Financial Services
About the role
The purpose of the role is to provide a professional financial, management and commercial accounting service to the Financial Services Director and their business areas ensuring financial integrity across all areas of responsibility. Areas of responsibilities include:
1) FS Profit and Loss Account (revenue – primarily interest and late payment fees, expenditure – primarily bad debt costs, statement costs and indirect costs)
2) Balance Sheet - Credit Account Trade debtor balances and cash
3) Bad Debt provisions
4) Securitisation management and reporting / analytics
5) Legacy Financial Services provision
6) Debt sale and debt purchaser relationship management
7) Commercial Business cases
The main accountabilities are:
- To own and manage the production of financial period management accounts (profit and loss and balance sheet and interpretation)
- To own and manage the production of an integrated annual budget, routine forecasts and projections (profit and loss account, balance sheet and interpretation and analysis)
- To provide commercial support in modelling the financial impact and benefits of new Financial Services products, propositions and initiatives.
- To ensure the integrity of a robust bad debt provisioning model that is compliant will all relevant accounting standards (currently IFRS9) in conjunction with the Credit and Risk team and to enhance the forecasting and management of the bad debt provision requirement.
- To ensure the integrity of the financial loan book by understanding and enhancing the existing financial controls and clarity of financial information relating to customer accounting processes and systems.
- To manage the FGH Debt Securitisation processes and reporting, monitoring and escalation requirements including 1) Working alongside Otto.de Structured Finance team on any developments as and when required 2) Robust understanding of the legal documents supporting the securitisation arrangement
- To provide commercial support in modelling the financial impact and benefits of new Financial Services products and Propositions.
- To provide financial control and oversight of the debt sale process (both forward flow and spot) and any third-party debt purchaser relationships including identifying opportunities to generate cash from the sale of defaulted or poor performing assets in a way that is sustainable and does not result in poor customer outcomes...
- Act as a proactive member of the FGH Credit Committee and a senior member of the FGH Finance team.
- Ad hoc analysis as deemed appropriate by the Financial Services Director.
- To be committed to the fair treatment of customers at all times
- To comply with FCA regulations, where applicable
- Demonstrate behaviours in line with our Company values
- To take reasonable care for the health and safety of yourself and other persons who may be affected by acts and omissions at work
The ideal candidate will:
- Be educated to degree level or equivalent.
- Be professionally qualified accountant with extensive relevant post qualification finance experience in an FCA regulated consumer credit environment.
- Have appropriate legal and regulatory exposure associated with the management of unsecured retail credit accounts and the selling of financial services products.
- Have extensive experience with commercial modelling and forecasting techniques.
- Have knowledge of Asset Backed Securitisation (ABS) arrangements and associated reporting and monitoring.
- Have excellent written and verbal communication skills and able to communicate with stakeholders on the executive board
- Have the ability to provide creative and innovative solutions.
- Be self-motivated and capable of working un-supervised
- Have commercial awareness and the ability to apply that understanding to the role’s outputs
- Have the ability to think clearly and logically with strong analytical skills
- Able to work to tight deadlines under pressure.
Our staff enjoy competitive benefits including staff discount, generous annual leave, healthcare cash plan together with a vibrant, colourful, creative and flexible working atmosphere. With our competitive benefits, and supportive teams our staff enjoy helping us on our mission and benefit greatly from the challenges that come with working for a successful retailer.
Freemans Grattan Holdings (FGH) is based in West Yorkshire and is part of the OTTO Group – one of the world’s largest online retailer. FGH is the home of familiar brands such as Freemans, Grattan, Kaleidoscope, Swimwear 365, Look Again, Bonprix, Curvissa and Witt.
We offer a broad choice of products and are committed to offering great service and delivery seven days a week. We meet the needs of our extensive and varied loyal customer base by having a Customer First mantra and being fair in how we deal with our customers and employees. Innovation is key as we look for new ideas which will improve the customer experience and our business processes.
We have a great team and integrity plays an important part in how we work together. We currently employ over 700 people within Vicar Lane office, Listerhills warehouse and credit operations, offering a diverse range of opportunities, generous benefits and a good work/life balance. Our mission is to be the preferred choice in internet and home shopping…do things better or do things differently.