Job Summary :
An Income and Finance Officer in a property management company plays a vital role in ensuring the financial health and stability of the organisation by managing income, overseeing expenditures, and providing accurate financial reporting and key information for decision-making of financial planning.
Reports to: LLP Property and Tenancy Manager
Responsible for: LLP Income and Finance
Salary: £40,000 to £44,000 per year.
Holidays: 33 days (including bank holidays in England and Wales)
Hours : 37.5 hours per week, Monda to Friday, 9am to 5:30pm
Other benefits: Minimum Pension contribution in line with HMRC guidelines
Income Management:
· Processing rent and service charge payments.
· Managing tenant arrears and implementing debt recovery procedures.
· Reconciling income and expenditure.
· Calculating and managing recharges (e.g., insurance premiums).
· Preparing completion figures for new lettings and lease changes.
· Raising monthly or quarterly rent charges to tenants
· Debt Management and Rent Collection
Financial Reporting:
· Preparing monthly and year-end financial reports.
· Assisting with budget preparation and variance analysis.
· Ensuring compliance with financial regulations and reporting requirements.
· Bookkeeping of all income, expenditure and balance sheet entries
· Accounting assistance
· Invoices and Purchase ledger
· Supportive Finance payments and approval
· Support on budget approval
· Manage software integration and data migration
Financial Control:
· Maintaining accurate financial records and documentation.
· Reconciling bank statements and other financial data.
· Monitoring and managing petty cash.
· Use Xero or other Financial Ledger systems
Other Responsibilities:
· Liaising with other departments and stakeholders on financial matters.
· Assisting with audits.
· Supporting the Account on Finance and other management.
· Produce board report
· Produce monthly P&L data and dashboard
· Produce Financial reporting format using Property management application and manual data where needed and necessary
Skills and Experience:
* Financial Acumen: Strong understanding of financial principles, accounting practices, and financial reporting.
* Analytical Skills: Ability to analyse financial data, identify trends, and interpret financial information.
* Attention to Detail: Accuracy and precision in handling financial transactions and data.
* IT Proficiency: Experience with accounting software, spreadsheets (e.g., Excel), and other relevant software.
* Communication Skills: Ability to communicate effectively with colleagues, tenants, and other stakeholders.
* Knowledge: Understanding of property management processes and regulations.
* Debt Management: Experience in managing tenant arrears and implementing debt recovery procedures.
* Budgeting and Forecasting: Experience in preparing budgets, forecasting financial performance, and analysing variances.
* Compliance: Knowledge of relevant financial regulations and compliance requirements.
To take individual and collective professional responsibility for championing the diversity, proactively implementing initiatives which secure equality of access and outcomes in particular but not exclusively, demonstrating the LLP's commitment through application of the Racial Harassment and Anti-Social Behaviour procedures. Also to commit to continually developing personal understanding of diversity.
Officers regularly come into contact with Croydon Affordable Homes and Tenures LLPs tenants and families/carers, Department for Works & Pensions, Inland Revenue, Job center Plus Staff, Primary Care Trust Staff – GPs, Nurses, Health Visitors, Age UK, Mind, Citizens Advice Bureau, Tenant Support Service, Police, Solicitors, County Courts and other local authorities, Prison Service and Probation Service .
When conducting tenancy duties, officers come into contact with residents, Leaseholders, the Safer Neighborhood team/Police, Youth Offending Team, other local authorities,
Registered Social Landlords, schools, Probation Service, Hospitals, MIND, Resident reps, local councilors, Members of Parliament, Community Mediation Services, Courts, local voluntary agencies/groups, London Fire Brigade and solicitors. Officers will often have to liaise and develop relationships with these partners, in order to provide a comprehensive tenancy service to our residents and to resolve issues as they arise.
LLP Board, LLP Staff
Contributes towards collection of a revenue stream of total in rent and service charges for LLP tenancies across the Portfolio. Contributes towards the prevention of rental loss by supporting the team in the detection of housing fraud.
Initiation of arrears recovery action.
Negotiating suitable arrears repayment terms with tenants/and or their representatives; Identifying and recommending suitable cases for repossession to the Operational Manager; Identifying and recommending cases of suspected housing fraud for referral to the Quality Team.
Assessing and monitoring the needs of vulnerable customers, making appropriate referrals to partners such as Gateway Services, Social Services, Welfare Benefits, Debt Advice, Housing Benefits etc
Working closely with key partners, including, where appropriate undertaking joint visits to ensure all relevant assistance is provided to tenants in arrears to prevent homelessness.
Providing detailed instructions to the LLP's legal team on the terms sought for court possession orders.
To take the lead on decisions which directly affect our residents and on complex tenancy matters in areas of succession, assignment, management transfers, and discretionary re-housing; recommending enforcement or possession action in cases of ASB, illegal occupation or abandonment; recommending estate improvements.
This post is open to new ways of working and you will be required to comply with the LLP's guidance on home, flexible and mobile working, including the safe care and use of electronic equipment.
Able to attend evening meetings and make home visits outside normal office hours, as required. As a lone worker, to be able to travel inside and outside the borough to our properties as required, for which travel expenses, casual car allowance or pool cars are available.
Educational Requirements:
* GCSEs: Most employers require at least GCSEs (grades 9–4 or A*–C) in Maths and English, as these subjects are critical for handling financial data and communication.
* A-Levels or Equivalent: A Levels in subjects like Maths, Business Studies, or Economics can be advantageous. Alternatively, equivalent qualifications such as a Level 2 or Level 3 course in a related field (e.g., finance, business, or property management) are often accepted.
* Relevant Degree (Optional): While not always required, a degree in finance, accounting, business administration, or property management can enhance your prospects, especially for higher-level roles. Some employers may prefer candidates with a relevant degree for roles with significant financial responsibility.
Professional Qualifications:
* Finance-Specific Certifications: Qualifications like the Association of Chartered Certified Accountants (ACCA) foundation level or the Chartered Institute of Management Accountants (CIMA) Certificate in Business Accounting can be beneficial for roles involving financial management. Or Similar. These demonstrate expertise in budgeting, financial reporting, and compliance, which are key for an Income and Finance Officer.
Apprenticeships:
* An Assistant Accountant Advanced Apprenticeship (Level 3) is a common entry route, providing practical experience and training in financial administration, which aligns with the duties of an Income and Finance Officer. This typically requires 5 GCSEs, including Maths and English.
* The Housing and Property Management Apprenticeship (Level 3) is also relevant, as it includes training in income management, such as rent collection and financial advice for tenants. This apprenticeship prepares candidates for roles like Income Officer and can lead to membership with professional bodies like the Chartered Institute of Housing (CIH) or IRPM.
Experience-Based Qualifications:
* Prior Experience: Many employers value experience in finance, customer service, or property management over formal qualifications. Experience in roles like finance assistant or accounts assistant can be sufficient to transition into an Income and Finance Officer position, especially if paired with on-the-job training.
* Continuous Professional Development (CPD): For roles involving IRPM membership, 15 hours of annual CPD is required to maintain professional standards, which can include finance-related training.
Specific Role Requirements
The role of an Income and Finance Officer typically involves:
* Managing rent accounts, collecting payments, and addressing arrears.
* Providing financial advice to tenants and negotiating payment plans.
* Preparing financial reports, maintaining records, and ensuring compliance with regulations.
* Liaising with external agencies and attending court hearings if necessary.
Given these responsibilities, employers often look for:
* Knowledge of Property Law: Understanding landlord-tenant law, tenancy agreements, and housing regulations (e.g., for service charges or leasehold management) is crucial. This can be gained through IRPM or TPI qualifications or the Level 3 Housing and Property Management apprenticeship.
* Financial Skills: Proficiency in budgeting, financial reporting, and using financial software is essential. Certifications like ACCA or CIMA, or experience with financial systems, are highly valued.
* Soft Skills: Strong communication, customer service, organisation, and problem-solving skills are critical, as the role involves interacting with tenants, landlords, and external stakeholders.
Regional Variations
* England: No mandatory qualifications are required, but professional certifications (e.g., IRPM, TPI, or finance-related qualifications) enhance employability and credibility.
Additional background for Property Management may be useful but not essential.
Certifications: Since the role is within property management, qualifications from bodies like the Institute of Residential Property Management (IRPM) or The Property Institute (TPI) can be highly relevant.
* TPI Level 2 or 3 in Leasehold Management: These cover financial aspects of property management, such as service charge management and budgeting, which are directly applicable to the role.
(a) Customer Care - ability to provide a service to members of the public consistently but sensitively, according to their individual needs, while meeting the customer care standards set for the service.
b) Building Relationships - Able to foster and develop good working relationships across the Organization, within the Department and with relevant external agencies, in order to deliver the service effectively.
c) Equalities - Able to demonstrate a commitment to and understanding of equalities issues and how they apply to all aspects of delivering a Housing Management Service
d) Service Delivery - Able to take personal responsibility for service delivery, including challenging team leaders and progress chasing to ensure that a high quality of service is delivered across the service.
e) Managing Workload - ability to manage a varied and demanding workload and to consistently produce high quality work and the drive to deliver what has been promised, ensuring objectives and targets are met in full
f) Communication - Excellent written and oral communication skills, including the ability to use plain English.
f) Accountability – Accepts the consequences of own actions, does not blame others or circumstances; able to build strong relationships with both internal staff and external partners to maximize the effectiveness of the service.
g) Information technology - Must demonstrate the ability to make effective use of IT packages in the job.
h) Analytical Thinking – able to analyze situations and demonstrate sound judgement in the action required to resolve issues before they become a crisis
Able to attend meetings out of normal working hours on an ad hoc basis. You should be able to get around the Borough to carry out the duties of this post. It is a preference for the post holder to have access to public transport or own car.
Personal Effectiveness – As this post has access to vulnerable people the post holder will need to demonstrate that they meet competencies relating to Accountability, Emotional Resilience, Team working and Authority, power and Control.
Job Type: Full-time
Pay: £40,000.00-£44,000.00 per year
Benefits:
* Company pension
Ability to commute/relocate:
* Croydon CR0 1EA: reliably commute or plan to relocate before starting work (preferred)
Application question(s):
* Must have strong background and experience withing Residential Property Account
Education:
* Diploma of Higher Education (preferred)
Experience:
* Property management Rent accounting and finance : 2 years (preferred)
* Income and Finance : 5 years (preferred)
Language:
* English (preferred)
Licence/Certification:
* Driving Licence (preferred)
Location:
* Croydon CR0 1EA (preferred)
Willingness to travel:
* 75% (preferred)
Work Location: In person