Fair Finance is an award-winning social business tackling financial exclusion in the UK. We compete directly with usurious and predatory lenders by offering affordable personal and business loans, as well giving people money advice to help them manage their finances sustainably. We also campaign for change and are recognised as one of the most high impact community finance organisations in the UK.
Over the last 10 years we have helped over 20,000 people avoid the clutches of high cost lenders such as doorstep lenders, payday lender and loan sharks in London. We helped grow over 200 small businesses across the country, and saved over 8,000 people from eviction with timely debt advice. In that time Fair Finance has grown to an organisation of 50 people, delivered at five locations across the city and built an online and remote offering for people across the country.
Fair Finance’s lending businesses have been funded by a mixture of social investors (both individual and institutions) and mainstream banks, while its advisory work has been funded through public contracts and corporate donations.
In 2014 we were awarded a Big Society Award by the Prime Minister and won the Alternative Lender of Year Award from Credit Today. In 2015 we won the Citi Micro-entrepreneurship Growth Award. Fair Finance’s founder Faisel Rahman has been honoured with an OBE for services to Community Finance.
In August 2016 Fair Finance received full authorisation from the FCA to carry out Consumer Credit activities.
We have made significant strides and have plans to triple in size and become a national social business. In order to achieve our ambition, we need talent with strong financial skills, experience, entrepreneurialism and above all, dynamism.
Our vision is to be an organisation that has a demonstrable and positive social and financial impact on our clients; and be an industry leader in providing responsible finance to under-served communities in the UK.
Head of Finance
Type: Full-time, open to flexibility
Salary: up to £60,000, depending on experience
Location: Dalston, East London
ABOUT THE ROLE
The Head of Finance will be a key member of the Fair Finance senior leadership team, delivering a significant transformational agenda including meeting challenging operational and financial objectives, as well as supporting Business Development activity.
They will lead the finance function ensuring that core control, financial accounting, reporting and planning, business performance, liquidity management and risk/control processes are consistently applied. He/she will drive the performance of the business and lead the finance team in continuously improving the quality of financial information and analysis necessary to maintain growth and improve operational efficiency.
In addition, they will play a central role in developing strategy, capital-raising initiatives and investor relations.
This individual will operate as a business partner to Founder and Managing Director (“MD”) Faisel Rahman OBE and the other members of the senior leadership team in driving performance management, operational rigour and change. The successful candidate will have strong business and communication skills, a decision-partner approach, “roll-up-your-sleeves” attitude, strong mission alignment and the breadth, substance, pace and intellect to drive the business.
KEY RELATIONSHIPS
- Fair Finance Senior Leadership Team
- Board of Directors of Fair Finance and the Trustees of Fair Money Advice
- Committees of Fair Finance, in particular the Finance Committee
- Investors and Lenders
- Auditors and key suppliers
TASKS AND RESPONSIBILITIES
Strategy & Planning
- In conjunction with the MD, lead the development of short and long-term strategic financial objectives and oversee execution of those objectives
- Assist with developing capital structures, engaging with investors and funders and be responsible for building and overseeing the group’s capital and liquidity projections.
- Set financial targets across the business in line with the overall strategic plan
- Lead the building, testing, monitoring and updating of financial models
- Lead the annual budgeting and regular financial forecasting with the leadership team and maintain overall financial management of the business.
Financial performance and management information
- Support, challenge and advise the business to drive superior financial performance
- Provide the Board, Finance Committee and other members of the senior leadership team with business performance MI and analysis, and advice on the financial implications of business activities
- Manage processes for financial forecasting, budgets and cash flow, including performance trend reporting
- Ensure appropriate returns on capital and thereby maintain a robust capital position within the Board’s approved risk framework.
Financial Control
- Direct and oversee all aspects of the finance function ensuring that a robust control environment is maintained
- Ensure that all aspects of financial reporting requirements under UKGAAP (FRS 102) are met for all entities
- Manage the timely delivery of year-end financial reporting and audit ensuring that all relevant reporting standards are adhered to
- Oversee financial operations and control (e.g. transactions, payments processing, and reconciliations) across the business, and implement operational best practice
- Working with the Operations and Collection teams, ensure that loan provisions and loss ratios are managed
- Ensure that tax compliance is achieved and relevant regulatory reporting requirements are met
- Lead and manage an effective relationship with the external auditors
Investor relations
- Assist with the management of investor and banking relationships
- Assist with fund-raising and investor presentations
- Manage the monitoring of various banking covenants and renewal of facilities
Management
- Manage and lead a Finance Team, support them to work effectively and ensure that they develop with the business needs.
Why work for Fair Finance:
- We believe in employing, growing and building around exceptional people who share our values
- We will give you the environment where you can genuinely put clients before profits and make a difference in our clients’ lives
- We are a growing and diverse organisation full of people who understand the balance between achieving business objectives and our social mission
- You will be based in London. Currently, our Head Office is in Dalston, Hackney, in a vibrant building with over 300 creative businesses, social enterprises and charities
- Your annual holiday entitlement will be 25 days in addition to public holidays; we also close between Christmas and New Year; 3% matching contribution towards a stakeholder pension
- The position is full-time, but we are open to flexibility
How to apply?
Application is by CV and covering letter ONLY through our website www.fairfinance.org.uk/about-us/jobs/
Your letter should describe why you want to work for Fair Finance and how your experience and skills fit the job description and person profile. We will contact you within 2 weeks of the application closing date if you have been shortlisted for the role.
Closing date for applications: 8th October 2017
TransparencySocial Innovation Fair Finance seeks Head of Finance Fair Finance is an award-winning social business tackling financial exclusion in the UK. English Fair Finance www.fairfinance.org.uk/
For-profit Job (Full-Time) Accounting/Finance 1507413600 London, UK 18 Ashwin Street, London, E8 3DL jobseekerLondonSocial Innovation www.fairfinance.org.uk/about-us/jobs/ 1507500000 Default Image 3 Premium Finanzleiter (m/w) London, England