Commercial Financial Analyst, Bits
More information about location
5 days a week in office (Camden, London)
Credit cards and more
Open for applications
Credit cards and more
21-100 employees
Open for applications
More information about location
5 days a week in office (Camden, London)
21-100 employees
Company mission
To help customers learn to manage credit.
Role
Who you are
- Bachelor’s degree in Finance, Accounting, Economics, or a related field. A professional finance qualification (e.g., ACCA, CIMA, CPA) is a plus
- 4+ years of experience in a similar commercial finance role, preferably in a fast-paced, high-growth environment. Start-up experiences is an advantage
- Strong analytical skills with the ability to interpret complex financial data and provide actionable insights
- Proficiency in financial modelling, budgeting, and forecasting techniques
- Advanced proficiency in Microsoft Excel and experience with financial software (e.g., SAP, Oracle, Hyperion)
- Excellent communication skills, both written and verbal, with the ability to present financial information to non-financial stakeholders
- Strong attention to detail and a proactive approach to problem-solving
- Ability to manage multiple tasks and work to tight deadlines in a fast-paced environment
What the job involves
- We are seeking a highly motivated and detail-oriented Commercial Finance Analyst to join our dynamic finance team. In this role, you will be instrumental in driving financial performance and supporting strategic decision-making by providing insightful analysis and commercial insights.
- You will work closely with various departments to understand business needs, forecast financial outcomes, and contribute to the overall financial health of the organisation
- Financial Analysis: Conduct detailed financial analysis, including profitability analysis, cost analysis, and variance analysis to support business decisions
- Budgeting & Forecasting: Assist in the preparation of budgets and financial forecasts. Track performance against these budgets and provide recommendations for improvement
- Commercial Insights: Analyse sales data, customer trends, and market conditions to provide actionable commercial insights that drive revenue growth and profitability
- Reporting: Prepare and present regular financial reports, including monthly management reports, KPI dashboards, and ad-hoc analysis as required
- Cost Control: Monitor and analyse expenditures to ensure alignment with the budget, identifying areas for cost reduction and efficiency improvements
- Financial Modelling: Develop and maintain financial models to support scenario planning, investment appraisals, and business cases
- Compliance & Risk Management: Ensure financial activities comply with relevant regulations and internal policies. Identify and manage financial risks associated with commercial activities
- Continuous Improvement: Drive process improvements within the finance function to increase efficiency, accuracy, and insightfulness of financial analysis
Salary benchmarks
Our take
Oftentimes, the advice to those with low credit is to build it up with the careful use of high-interest credit cards. However, this comes with the obvious downside of being high risk as well as high reward. Bits, instead, helps people with low credit to improve their scores with a subscription store card that lets them access in-store savings while quickly raising their credit score.
Millions of people in the UK have difficulty accessing financial services due to their credit scores, so it is no surprise that a number of other startups like Pockit and Portify have emerged offering alternative products for this underserved group. Bits, however, stands out for its unique approach that doesn’t put people into any debt at all - with the company making no money on interest.
As Bits has grown, it has expanded its product and now reports to Equifax and TransUnion on top of Experian. Boasting 300,000 users and a strong rating on Trustpilot, it is clear the company has already made an impact and it will be interesting to see what it does in the future.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (2 rounds)
Sep 2020
$0.2m
SEED
Oct 2018
$0.2m
SEED
Total funding: $0.3m
Company HQ
London, UK
Leadership
Faisal Khalid
(Founder)A Harvard graduate in Economics, Faisal has over a decade of experience in major payment companies such as American Express. More recently, they founded Paysnapp, an online payment service for low income migrant workers which was acquired by VFD bank.
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