Chief Financial Officer at FINCA International

Role Purpose

• Reporting directly to Chief Executive Officer, the Chief Finance Officer (CFO) is responsible for the planning, implementation, managing and day to day of all the finance and accounting activities of the subsidiary. The CFO supports the subsidiary to reach the financial goals, focusing in cost reduction, profitability, liquidity, and the efficient use of Subsidiary's assets. The CFO also ensures alignment of all financial decisions with the mission and operational objectives. As a member of the Management Team, the CFO shares responsibility for the overall performance and activities of FINCA Microfinance Bank Limited, Nigeria ('FINCA Nigeria') and participates in making decisions on material issues.

Accountabilities

Accounting and reporting

• Manages generation of financial statements according to local accounting standards.
• Manages generation of financial statements according to GAAP or IFRS.
• Manages timely reporting to relevant local authorities (central bank, tax office, others).
• Manages timely reporting to F/I and hub.
• Manages timely reporting to creditors and donors.

Financial analyses

• Creates/develops appropriate reports: financial ratios; liquidity report; currency gap report; various credit reports; breakdown by branches/regions; breakdown by products; plan-fact comparison; historic development; others as required/appropriate.
• Analyzes financial data and develop financial analysis as a key management tool with the aim of optimizing F/ Nigeria's activities: identify risks, inefficiencies, negative tendencies, and propose measures that reduce risks, improving efficiency, reverse negative tendencies.

Creating/modifying regulations, procedures for finance activities

• Creates/modifies procedures such that they are low-risk and efficient.
• Analyzes existing procedures for adequacy and making changes, if necessary.

Risk and Compliance

• Ensures compliance of F/ Nigeria's finance activities with the Charter/bylaws of the affiliate; FINCA and affiliate policies, procedures, plans and agreements; decisions of affiliate governing bodies as well as headquarter and regional office supervisor(s).
• Maintains good coordination with regional office, headquarters, and governing bodies.
• Ensures compliance of F/ Nigeria with financial covenants in agreements with creditors and donors.
• Supports and reinforces an effective RCSA (risk control self-assessment) program for all key business processes related to the employee's work area, including adopting control improvements when needed and actively contributing to meet all RCSA corrective action plan commitments.

Treasury and liquidity management

• Creates cash flow forecasts.
• Ensures availability of sufficient resources for lending in the required currency.
• Ensures investment policy follows ALCO guidelines (Asset Liability Committee) and FINCA International policy.
• Responsible for ensuring all financial conditions are met as required by creditors, banks, donors for all transactions.

Planning, budgeting (together with the Management Team)

• Manages the planning and budgeting process of F/ Nigeria according to guidelines set by BOD and the RD.
• Participates in completion of business plans for expansion into new regions.

Coordination of external audit

• Acts as the coordinator and main contact person with external auditors.

Coordination with IT

• Uses possibilities of IT most efficiently.
• Proposes modifications to IT programs/procedures that increase efficiency and/or lower risk.
• In case of changes to the IT structure/software that affect finance activities, participates in a/the leading role in the investigation, decision making and implementation process of the new/modified structure/software.

Participation in general management of FINCA Nigeria

• As a member of the Management Team/Board, participates in F/ Nigeria s general management as defined by the Charter and the Regulation on Management Team/Board (if existing).
• Is informed about all important activities and developments at F/Nigeria.
• Keeps all Management Team/Board members informed about relevant issues/developments in F/Nigeria's finance activities and department.
• Presents relevant Finance issues to the Management Team/Board for information, discussion, decision making.
• Participates/votes in decision-making on relevant 'Finance' and 'Non-Finance' issues.

Overseeing the procurement process

• Ensures maintenance of a comprehensive fixed asset register.
• Ensures purchase and maintenance of all fixed assets is carried out in compliance with donor and FINCA policies.
• Identifies fixed asset needs, sources them through the prescribed procedures, and develops a recommendation for approval as per the purchase policy.
• Carries out the logistics for the physical purchase of the item, after written approval, and ensures that taxes are not paid where legal exemptions are in place.

Insurance policies

• Ensures that fixed assets, liquid assets, personnel and other activities are insured in accordance with policy.
• Reviews all insurance policies annually and ensures proper purchasing procedures are followed in selecting policies.
• Ensures proper care and use of assets, and safe procedures are in place in all activities as the best insurance claims.
• Approves and submits all insurance against loss or damage.
• Oversees any life, accident, disability or portfolio insurance programmes (i.e.: excluding the health insurance programme) maintained by F/U for the benefit of its clients.

People and Leadership

• Provides leadership, management and strategic direction for FINCA employees.
• Cultivates a high-performance working environment, sense of belonging ('team spirit'), and affinity to FINCA's mission and brand values among the work force.
• Supervises all finance staff.
• Anticipates staffing needs, participates in recruitment efforts for subordinated staff, attracts the right people in support of growth and outreach plans.
• Retains, motivates and maximizes productivity of staff through effective leadership, mentoring, transparent communication, performance management, and career planning.
• Sets and successfully communicates performance measurements and targets to staff in a way that drives business growth, provides positive motivation for staff, and aligns with FINCA's corporate strategy.

Communication and Working Relationships

Internal

• HODs
• Financial Analyst
• Board

External / Client-facing

• Audit firm representatives

Government / Regulatory Bodies

• National Audit and Finance authorities
• Regulatory and Professional bodies

Qualifications

• B.Sc/HND with CPA/ACCA/ACA is required;
• Master's Degree is considered an added advantage
• Microfinance Certification from the Chartered Institute of Bankers of Nigeria (MCIBN), or a willingness to obtain the certification within one year.

Experience

• At-least 15 years of experience is required.
• Minimum of 5 years as a Chartered Accountant.
• Exposure working in the region is an asset, international experiences is an asset.
• Extensive experience in best practice financial management of a company, desirably a financial institution.
• Experience working for the 'big 4' audit firms are an asset.
• The individual requires highest standards of attention to details, strong analytical skills and knowledge of accounting, financial and taxation standards and appropriate software.

Knowledge and Skills

• Strong knowledge of Financial Management principles;
• Strong command of accounting software;
• Risk Management;
• Knowledge of Commercial orientation / business acumen;
• Tax Planning;
• Managing performance of team;
• Planning and organizing skills;
• Decision-making skills;
• Negotiation, influencing skills;
• Excellent Analytical and Reporting skills;
• Strong Communication skills;
• Strong command of Microsoft suite.

Language Skills

• Fluency in English required.
• Fluency in Igbo required.

Travel requirements

• Availability to travel 40% of the time.