Financial Controller, Bits
More information about location
5 days a week in office (Camden, London)
Credit cards and more
Job no longer available
Credit cards and more
21-100 employees
Job no longer available
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
- Education: Bachelor’s degree in Finance, Accounting, or a related field. CIMA, ACCA, or equivalent certification is preferred
- Experience: Minimum of 5-7 years of experience in financial management, with at least 2 years in a similar role, preferably within the fintech or start-ups
- Technical Skills: Strong proficiency in financial software and systems (e.g., ERP systems, Excel, financial modelling tools)
- Knowledge: In-depth knowledge of accounting principles, financial regulations, and tax laws
- Leadership: Proven experience in managing and developing finance teams
- Analytical Skills: Excellent analytical and problem-solving abilities with a keen eye for detail
- Communication: Strong verbal and written communication skills, with the ability to present complex financial information clearly and concisely
What the job involves
- As a Financial Controller at Bits, you will play a crucial role in overseeing the financial operations and ensuring the integrity of our financial information. You will be responsible for maintaining the company's financial health by managing financial reporting, budgeting, and compliance functions. This position requires a strategic thinker with strong leadership skills and a hands-on approach to problem-solving
- Prepare accurate and timely financial statements, including profit and loss statements, balance sheets, and cash flow statements
- Provide detailed analysis of financial results, identifying trends, variances, and opportunities for improvement
- Oversee month-end and year-end closing processes
- Lead the annual budgeting process and provide ongoing forecasts
- Monitor actual performance against the budget, providing variance analysis and recommending corrective actions
- Develop financial models to support business planning and decision-making
- Ensure compliance with all applicable financial regulations, accounting standards, and tax requirements
- Liaise with external auditors and manage the annual audit process
- Maintain accurate records and documentation to support compliance efforts
- Develop and implement robust internal controls to safeguard company assets.
- Provide guidance on financial best practices and drive process automation initiatives
- Manage and mentor the finance team, fostering a culture of continuous learning and development
- Continuously evaluate and improve financial processes and systems to enhance efficiency and accuracy
- Collaborate with cross-functional teams to support business objectives and drive financial performance
- Act as a strategic partner to the leadership team, providing financial insights and recommendations
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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