Head of Finance, Bits
More information about location
5 days a week in office (Camden, London)
Store card for building credit
Open for applications
Store card for building credit
21-100 employees
Open for applications
More information about location
5 days a week in office (Camden, London)
21-100 employees
Company mission
To promote financial inclusion by providing a path to credit for those neglected by mainstream lenders.
Role
Who you are
- Experience: 7+ years of experience in finance or accounting roles, with a significant portion in a leadership capacity
- Education: Advanced degree in Finance, Accounting, Business Administration, or a related field
- Certifications: Relevant certifications (e.g., CFA, CPA)
- Track Record: Proven track record of managing financial operations and driving financial growth in a fast-paced environment
- Skills: Strong analytical and problem-solving skills, with excellent knowledge of financial regulations and accounting principles
- Tools: Proficient in financial software and tools
- Communication: Excellent communication and interpersonal skills, with the ability to present complex financial information clearly
- Leadership: Demonstrated ability to lead, mentor, and develop a high- performing finance team
What the job involves
- As the Head of Finance at Bits, you will play a pivotal role in shaping the financial health and strategic direction of our company.
- You will be responsible for overseeing all financial operations, including budgeting, financial planning and analysis. You will work closely with the executive team to drive financial growth and ensure the integrity of our financial processes. We expect you to bring a combination of technical expertise, strategic thinking, and leadership skills to the role
- Financial Leadership: Lead and manage the finance team, ensuring the smooth operation of all financial functions
- Budgeting and Forecasting: Oversee the preparation of budgets and forecasts, ensuring alignment with strategic goals
- Financial Reporting: Develop and present financial statements and reports to internal and external stakeholders
- Policy Development: Create and implement financial policies and procedures to ensure robust financial governance
- Compliance: Ensure compliance with financial regulations and accounting principles
- Financial Analysis: Conduct detailed financial analysis to identify trends, provide insights, and support decision-making
- Strategic Collaboration: Work with cross-functional teams to support business decisions and provide financial guidance
- Investor Relations: Manage relationships with investors, providing regular updates on financial performance and strategic initiatives
- Oversee revenue management, debt-facility management, and equity investor relations
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
Few candidates hear
back within 2 weeks
Company
Funding (2 rounds)
Aug 2020
$0.2m
SEED
Oct 2018
$0.2m
SEED
Total funding: $0.4m
Company benefits
- Free fruit in the office
- 28 days holiday, including bank/national holidays
- Laptop and phone of your choosing
- Regular team meals
- Team socials
Company HQ
Westminster, London, UK
Articles
Leadership
Faisal Khalid
(CEO)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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