IFRS9 Impairment controller

Job Reference : 002462
Closing Date : 28/11/2018
Salary : Up to £75,000 plus excellent benefits
Department : Finance
Hours Per week : 36.17

N Brown group is a leading FTSE 250 digital home shopping company with over 150 years of distance shopping experience.

Best known by our 3 power brands; Simply Be, Jacamo and of course JD Williams, we generated revenues of over £887 million in 2016/2017, with (adjusted) pre-tax profits of £80.6 million.

Our vision is to become a leading digital retailer and to continue to expand our active customer base of over 4 million, becoming the universally loved experts in fashion that fits by helping our customers’ look and feel amazing through our trusted family of over 20 brands.

 

Our financial services division is a key part of the Group, generating annual revenues in excess of £270m in 2017/18 driven by a gross receivables balance of approximately £650m and as we continue to invest in our goal of becoming a leading digital retailer there’s a greater need than ever to ensure that we continue to drive customer loyalty by making responsible lending decisions in line with our regulatory responsibilities.

 

The Role:

Following the introduction of IFRS9, impairment provisioning has become inherently more complex and significantly more operationally and commercially focussed than the previous standard.  As at March 18, the Group’s IFRS9 impairment provision will exceed £100m in comparison to less than £50m under the previous standard.

This therefore presents an exciting opportunity for a commercially minded accountant to join the team to ensure that our provisioning policy remains appropriate whilst also business partnering the credit risk team to help drive real commercial value.

Reporting to the Group financial controller, this role is a key business partner to the credit risk team with responsibility for all aspects of IFRS9 including overseeing model changes, financial management including KPI and financial performance reporting as well as ensuring that the ECL model meets standard requirements.

This is a great opportunity for qualified Accountant, seeking a new career challenge in a very fast paced, commercial environment with a real opportunity to drive commercial and operational decision making.

 

What you’ll be responsible for:

  • Ensuring that the IFRS9 model continues to meet the requirements of the standard
  • Analysing impairment trends and the drivers of those trends
  • Identifying opportunities for improving the model such that it continues to reflect the commercial reality of the business
  • Forecasting future IFRS9 impairment charges and the drivers of those charges
  • Supporting the credit risk team with ad hoc analysis surrounding risk profiling and behavioural scores

 

What you will need to succeed:

  • Formal finance qualification: CIMA/ACA/ACCA
  • Technically astute and an appreciation of applicable financial reporting standards is critical
  • Experience of working in the Financial Services sector
  • Strong technology skills.
  • Being close to the detail, data driven and analytical whilst also being able to articulate results clearly to non-finance individuals
  • Strong operational delivery track record, motivated to implement/deliver on time to quality standards and build new efficient processes
  • Demonstrated ability to quickly appraise complex situations, identify key issues and make tough, timely decisions
  • Highly energetic and driven to succeed
  • Excellent interpersonal relationships and ability to manage complex stakeholder relationship.
  • Ability to influence and negotiate at all levels of the organisation and experienced in communicating commercial language with a variety of media
  • Naturally inquisitive with a desire to understand a broad range of commercial issues
  • A strong team player

 

This is a great opportunity for a qualified accountant, seeking a significant new career challenge. The ideal candidates should be engaged, adaptable and genuinely interested in the fundamentals of the N Brown business. Candidates should also enjoy interpreting and managing commercial and financial data and be comfortable providing insight and solutions that can directly influence senior commercial decisions within our business.

 

In return, you’ll receive great training, varied and interesting development opportunities and a competitive salary and benefits package