Head of Finance Transport Cardiff, Wales
Lloyds Banking Group
Full Time
Cardiff, Wales
104368 - 130460 GBP ANNUAL Today
Job description
End Date
Friday 23 June 2023
Salary Range
£104,368 - £130,460Agile Working Options
Job Description Summary
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Job Description
JOB TITLE: Head of Finance Transport
SALARY: £104,368 - £130,460
LOCATION(S): Cardiff (Preferred), Bristol, Chester, Edinburgh, Gloucester, Halifax, Leeds, London
HOURS: Full Time
WORKING PATTERN: Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our office sites.
Can you think strategically and ‘join the dots’ to see the bigger picture? Do you enjoy working at pace, are you curious with a genuine desire to make a difference to the products we support? The key responsibility of the Transport Business Partner is to think commercially and strategically. As well as being able to grasp and delve into technical accounting and risk subjects to lead and understand the P&L. The role is a trusted advisor to the Business and its Leadership Teams and as their ‘critical friend’, we provide commercial insight and challenge to support the Business objectives.
About this opportunity:
With a fleet of c 275k in Lex Autolease, and Black Horse Lending of c £14bn the team is a market leader in Transport finance. In the Business Partner team, we support a wide range of activity such as pricing, strategy, margin management, trading, and underlying products. We provide counsel on all financial matters, recommending management action to enhance business opportunities, drive income and lead risk management. We also provide insight and our experience on technical accounting matters. Particularly in relation to the application of policies that impact the residual value exposure and impact on provisions and operating lease depreciation (OpLD). This is therefore an exciting but high-reaching role from both a commercial and technical view. One where there is scope to bring your own thinking and approach to deliver insight for the business.
2023 is already shaping up to be an interesting time in Transport, we have already seen three Bank Base Rate announcements this year. This has driven a multitude of competitor pricing moves. Customer behaviour is also changing in terms of how customers access finance products to meet their transport needs. Interesting trends are emerging such as cost of living impacts, increased used car prices, and an aim to fund more electric vehicles to meet our own and our customers’ sustainability targets. This means our analysis and insight continues to evolve and change. In the longer term Transport has secured significant group investment, including for a large re-platform programme over the next 3 years.
About the team:
The broader Consumer Lending Finance team play a key role in the overall support of the Retail division by providing business partnering support, analysis and insights and as well as reporting on current business performance across all the Retail Lending products. This role reports directly into the Finance Director for Consumer Lending, covering the Transport product offerings. Our team is at the very heart of the future direction of the businesses we support.
The team monitors, anticipates, and assesses any potential future impacts on the business. Business Partners provide challenge and insight and demonstrate an un-questionable appetite and curiosity to understand the Businesses they support. We do this by using our knowledge of the commercial drivers and clear and concise story telling behind monthly results, planning and forecasting. All this whilst providing innovative ideas and analysis.
What you’ll be doing:
- Be the on point person by engaging senior customers in order to influence key business decisions.
- Co-ordinates the overall Finance Partnering support.
- Contributes to strategic direction of Transport and wider Finance function, through the provision of key commercial decision support.
- Responsible for driving the direction and content of financial and commercial performance.
- Understand the RV risk on the portfolio, ensuring that any risk in a used car market is adequately provisioned for. This market is currently very volatile and in a big transition period as we move towards electric vehicles from diesel/petrol.
- Lead the engagement with external auditors and Group Accounting Policy team for accounting treatments for the leasing and lending business. Understands how this may impact Group Results given that the Lex business is a large component of the overall Group OpLD number.
- Advance processes to deliver insightful information to influence business decisions by championing the improvement of data flows; driving forward the agenda of regular ad hoc proactive analysis.
- Collaborating across teams to develop and implement medium term operational plans specific to supported/own area and taking into account the wider business and regulatory context.
- Champion change to deliver improvement by fully engaging with Platform and Segment teams on relevant Group Strategic Review projects and investment benefits. Provide input to ensure the most efficient investments are taken forward. Whilst maintaining interlock between all investment/project benefits, payback, objectives & key results
- Continuously evaluate risk policies and procedures
- Run the cost base and help find opportunities to drive efficiencies.
- Review and make recommendations relating to the organisation design to ensure it is fit for purpose Interpret and ‘translate’ the Bank's policy into business processes for business divisions/functional area.
- See opportunities for and deliver continuous improvement Lead finance projects or represent the finance function in corporate projects with an impact across a whole division or divisions.
- Embed the Lloyds Banking Group culture and vision through visible leadership.
- Build and maintain a successful team to ensure colleagues are led and developed optimally.
Why Lloyds Banking Group?
We’re on an exciting journey to transform our Group and the way we’re shaping finance for good. We’re focusing on the future, investing in our technologies, workplaces, and colleagues to make our Group a great place for everyone. Including you.
What we need from you (Essential Skills and Experience):
- Deep experience in UK Transport product management and pricing, demonstrating clear understanding of customer, market, conduct, regulatory and competitor trends, and what drives price changes in the market.
- Accountancy qualification or strong analytical and mathematical background and experience.
- Ability to influence senior decision makers and in storytelling; regular attendee at senior Pricing forums where gaining agreement to proposals is critical.
- Compliance with the regulatory system: high standards of conduct and behaviour, especially with regards to the interests of customers; record of delivery on compliance issues; understanding of the importance of documentary evidence for key decisions.
- Interpreting and applying understanding of key financial indicators to make better business decisions; making sense of complex, high quantity, and sometimes contradictory information to effectively solve problems.
- Responsiveness and the ability to respond quickly in pricing and trading terms to changing economic conditions.
- Visible leader and coach, with proven track record of delivery through others, building a broad and diverse environment to attract, retain and develop talent.
- Proactively build an external and internal network for the purpose of commercial awareness.
- Have a drive for continuous improvement and simplification, to improve customer and commercial outcomes.
About working for us
Our focus is to ensure we're inclusive every day, building an organisation that reflects modern society and celebrates diversity in all its forms. We want our people to feel that they belong and can be their best, regardless of background, identity or culture. We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer initiative. And it’s why we especially welcome applications from under-represented groups. We’re disability confident. So if you’d like reasonable adjustments to be made to our recruitment processes, just let us know.
We also offer a wide-ranging benefits package, which includes:
- A generous pension contribution of up to 15%
- An annual performance-related bonus
- Share schemes including free shares
- Benefits you can adapt to your lifestyle, such as discounted shopping
- 30 days’ holiday, with bank holidays on top
- A range of wellbeing initiatives and generous parental leave policies
If you’re excited by the thought of becoming part of our team, get in touch. We’d love to hear from you.
At Lloyds Banking Group, we're driven by a clear purpose; to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.
We keep your data safe. So, we'll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks. We'll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person.
We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.
