Chief Financial Officer (CFO) & Head of Strategy at Afrinvest West Africa Limited

We are hiring a CFO for a recently acquired microfinance bank. The CFO & Head of Strategy is a key member of the Executive Management Team, responsible for providing strategic financial leadership and driving the bank’s transformation into a digitally led microfinance institution. The role combines: Financial stewardship: ensuring strong financial performance, compliance, and risk management, and Strategic leadership: defining and executing the bank’s digital and growth strategy in line with regulatory guidelines (CBN, NDIC, etc.) and financial inclusion objectives.

Job Details

• Lead the development and execution of the bank’s 5-year strategic plan, with a strong focus on digital products, channels, and operations.
• Drive the bank’s digital transformation agenda, including digital lending, mobile banking, agent banking, and partnerships with fintechs and payment service providers.
• Identify new business opportunities, market segments, and partnerships that support scalable and sustainable growth.
• Champion a data-driven culture, leveraging analytics and MIS to inform strategy, pricing, risk appetite, and product design.
• Advise the MD/CEO and Board on emerging trends in digital finance, microfinance, and regulatory changes in Nigeria and across Africa.
• Develop and implement the bank’s financial strategy, ensuring alignment with overall corporate strategy and regulatory requirements.
• Lead the annual budgeting and forecasting process, including scenario planning and stress testing.
• Oversee timely and accurate financial reporting, including management accounts, Board packs, and statutory reports in line with IFRS and CBN requirements.
• Monitor financial performance (P&L, balance sheet, cash flow, capital adequacy, liquidity, and profitability ratios) and recommend corrective actions.
• Ensure robust cost management and drive efficiency, including the financial evaluation of digital initiatives and technology investments.
• Oversee treasury management, including liquidity, asset-liability management (ALM), and funding strategies.
• Manage capital planning, ensuring compliance with CBN microfinance bank capital requirements and prudential guidelines.
• Develop and maintain relationships with investors, lenders, development finance institutions (DFIs) and other funding partners.
• Lead capital-raising initiatives (equity, quasi-equity, or debt) to support growth and digital expansion.
• Work closely with the CRO/Head of Risk to maintain a robust enterprise risk management framework, especially credit, market, liquidity, and operational risks related to digital channels.
• Ensure strong Internal Controls and financial governance, including policies for digital transactions, e-channel reconciliations, and fraud risk mitigation.
• Ensure full compliance with CBN, NDIC, FIRS, and other regulatory bodies, particularly for microfinance and digital financial services.
• Oversee the implementation of systems to monitor portfolio quality (PAR, write-offs, recoveries), especially for digital and automated lending products.
• Collaborate with the Chief Technology Officer/Head of Digital (or equivalent) to develop financially viable digital products (e.g., nano loans, digital savings, agency banking solutions).
• Own unit economics and profitability models for key products and channels, both traditional and digital.
• Evaluate and structure partnerships with fintechs, agents, aggregators, and other third parties to ensure financial viability and compliance.
• Assist to define pricing and fee structures aligned with customer value, competition, and regulatory guidelines on microfinance pricing.
• Build and lead a high-performing Finance & Strategy team including planning, performance management, coaching, and succession planning.

Requirements

• Bachelor’s degree in Accounting, Finance, Economics, or related field.
• Professional qualification such as ICAN, ACCA, or equivalent is mandatory.
• MBA or Master’s in Finance/Strategy is an added advantage.
• Minimum of 10–15 years relevant experience, with at least 5 years in a senior leadership role (CFO, Head of Finance, Head of Strategy, or equivalent) in Microfinance, commercial banking, digital banking, fintech, or related financial services.
• Demonstrable experience in financial management and reporting in a regulated financial institution, Strategic planning and execution, Managing regulatory relationships (CBN, NDIC, etc.) in Nigeria.
• Strong knowledge of IFRS, CBN microfinance guidelines, BOFIA, and other relevant regulations.
• Expertise in financial modelling, budgeting, and performance management.
• Strong understanding of digital financial services, mobile money, agent banking, and fintech ecosystems in Nigeria.
• Proficiency with core banking systems, MIS, and relevant financial and BI tools.
• Strong communication and stakeholder management skills (Board, regulators, investors, partners).
• High integrity, professionalism, and commitment to financial inclusion and customer-centricity
• Ability to work in a fast-paced, transforming environment and manage change
• Prior experience in microfinance or lending to MSMEs/low-income segments is highly desirable.
• Familiarity with digital credit scoring, alternative data, and API-based integrations will be an advantage.