Address
SalaryLocation: London/Bradord/Chatham/Petersfield
Salary:
Closing Date: Friday 02 February 2024
We’re Vanquis Banking Group plc, a FTSE All Share company, and a leading specialist bank, focused on the near prime and mid cost credit markets.
The Group has been providing financial inclusion, which supports social mobility, to those whose needs have not been well met by traditional lenders for over 140 years. We lend responsibly and provide tailored products and services to 1.7 million customers throughout the UK.
We're proud to support the 1 in 5 people in the UK who can’t get access to credit products through mainstream banks and building societies. We want to provide a helping hand when others don’t. That’s why our aim is to continue to develop better banking products for the 10-12 million people in the UK who deserve good quality products that they can’t get anywhere as well as to support the whole of the UK population to build up their financial resilience and better protect themselves against the rising cost of living.
Vanquis Banking Group is a unified group made up of two brands: Vanquis (cards and loans) and Moneybarn (vehicle finance). While they offer different products and services, they share the common purpose and customer-centric values at the heart of our group. We understand our customers are real people with varied life experiences, so everything we do from our products to our customer experience is designed with this in mind.
Role purpose
To be a trusted financial partner for the business, and to establish a ‘best in class’ Strategic Planning & Analysis team; to pro-actively support the business in terms of insight and guidance, including market content, as well as providing fact based challenge to drive a more profitable performance; to co-ordinate a forward looking view of expected Financial Performance across Vanquis as part of regular quarterly forecasts that support the quarterly trading statements as well as the annual Financial Resources Plan.
Key Responsibilities:
- Accountable for ensuring ExCo fully understand the forward looking financial performance of VBG.
- Not to produce any regular monthly MI but to form the conduit between the Chief Customer Officer (and the rest of ExCo) and the MI reporting team to ensure consistent, insightful, concise, quality monthly MI is provided to ensure Financial Performance with drivers is fully understood by all.
- To facilitate the business / ExCo led quarterly forecast (with risks and opportunities sized) of VBG’s Financial Performance to support the quarterly trading statements. This should be a 10 (max) working day process (commencement to publication) with a forward looking 5-7 quarter view. This will involve pro-active engagement with all ExCo members as well as the Cost management team.
- To facilitate the business / ExCo led annual 5 year Financial Resources plan. This should be a two month process (commencement to publication) culminating with Board approval (December). This will involve pro-active engagement with all ExCo members, the Head of Change for the annual investment, as well as the Cost management team.
- In conjunction and under the direction of the Chief Customer Officer undertake ad hoc business analysis with a view to addressing an issue or driving improved business performance.
- Own the pricing models to ensure all pricing decisions are based on consistent methodologies and up to date assumptions and inputs.
- Assist the costs team in the development of business cases where change delivery resources are required ensuring the quantum and timing of benefits (increased revenue, reduced costs, lower ECL, improved control, etc) are documented.
- Monitor external peer bank and product competitors periodic market announcements to provide succinct insight to be shared on a timely basis with ExCo, highlighting key considerations for VBG follow up to potentially improve financial performance or to address a concern highlighted by third parties.
- On a reactive basis provide initial assessment of external opportunities which emerge for VBG.
Leadership Responsibilities:
- Develop and coach a small finance team (c.10-13 FTE) to ensure the right level of capability, skills, timely delivery and engagement to effectively meet the functional objectives.
- Accountable for leading a business focused team who:
- Responsible for providing relevant insight into business performance pre-dominantly on a forward looking basis and act as a key stakeholder in the formulation of forward looking plans with the CCO.
- Challenge with knowledge to senior stakeholders to deliver a more efficient commercial operation.
- Independent review, assessment and challenge of any business under performance.
- Advise and guide business heads in financial metrics (e.g. ROTE, marginal cost of capital, Risk Weights etc) to enable efficient use of financial resources.
- Set clear objectives to drive individual performance to achieve delivery of departmental targets and goals that are aligned to strategic objectives.
- Ensure talent, development and robust succession plans are in place and that these are fit for purpose/support the needs of the business.
Skills & Experience required:
- Previous experience as a Head of Strategy, Planning and Analysis, or a Head of Business Partnering, in a medium (c.£500m revenues) or larger banking or financial services organization that has undergone a successful strategic re-set.
- Previous experience in business analysis and investigation, offering solutions to execute growth initiatives.
- Previous experience of market insight and peer analysis (preferable but not required)
- Previous experience of establishing, re-shaping and leading of Finance teams with a broad and varied remit
- Qualified accountant (CIMA, ACA, ACCA) (an advantage), Treasurer (ACMT) (an advantage), or qualified by financial banking experience in activities covered by the role (required)
- Demonstrable expertise in Strategic Planning and analysis, including facilitating all aspects of annual operating plans and quarterly forecasts.
- Strong commercial understanding and business partnering experience.
- Track record of delivering commercial value through in depth analysis in a dynamic and challenging environment.
- Highly analytical and strong attention to detail with business restructuring and growth initiative expertise.
- Understanding of both planning and pricing models
- Strong understanding of Banking / Financial Institutions, their components and structure, and how they should operate efficiently, as well as Financial KPIs.
- Basic understanding of business valuations.
- Ability to digest competitor financial statements and announcements, and convey messages in a succinct, insightful manner to EXCO / Board with potential actions for consideration.
- Strong communication (written and oral), leadership, negotiation and influencing skills, particularly at a senior management level.
- PC Literacy to include middle management level MS Office Word, Excel, Power Point. Knowledge of Anaplan (Planning system)
Working Conditions - London/Chatham/Bradford/Petersfield – Hybrid working
We know that by having a better, more inclusive culture and a diverse group of colleagues, we can support our customers and each other in the best way possible. We also believe this goes a long way to helping us live our purpose and defines why we’re here in the first place: to help put people on a path to a better everyday life.
We’re an equal opportunities employer and we want people to join us no matter how they identify, their sexual orientation, marital or civil partner status, race, colour, nationality, ethnic or national origin, religion or belief, disability or age.
We want to attract and retain the best people. So, we make sure that, if people need it, they’re given all the extra support and reasonable adjustments to take part in any part of our application or interview process. We’ve also got lots of colleagues who choose to work flexibly, so please feel free to talk to us about how you prefer to work at any time.
We think that if you can Be Yourself in the workplace, you’ll do your best work and enjoy being part of the team. And as a business we get to benefit from that and to celebrate all the wonderful things that diversity brings.
On top of all this, we will give you a package including:
- Competitive salary
- Discretionary annual bonus
- Hybrid working considered
- Up to 30 days holidays in addition to bank holidays
- Pension Scheme with matched company contributions up to 5%
- Private Medical Insurance
- Extensive opportunities for personal and career development
- Opportunity to grow, develop and learn
- Colleague Perks at Work discount platform
- Season ticket loan
- 1 paid day to ‘give back’ to local communities or chosen charity
