Head, Finance and Operations at Foteino Talento

Responsibilities

Financial Planning:

• Provides leadership in the development of strategy and continuous evaluation of short- and long-term strategic financial objectives.
• Develop finance organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction; establishing functional objectives in line with organizational objectives
• Develop and support organization prospects by studying economic trends and revenue opportunities; analyzing organization operations; identifying opportunities for improvement, cost reduction, and systems enhancement; and capital sourcing for operation expansion.
• Monitor and direct the implementation of strategic business plans.
• Evaluate and advise on the impact of long-range planning and the introduction of new programs and strategies.
• Provide executive management with advice on the financial implications of business activities as well as advice from the financial perspective on any contracts into which the bank may enter.
• Develop financial and tax strategies.
• Develop performance measures that support the bank's strategic direction.

Financial Operations:

• Participate in key decisions as a member of the executive management team.
• Preparation of financial reports
• Preparation of monthly and quarterly returns to CBN/NDIC.
• Liaison and communication with regulatory bodies such as CBN, NDIC, FIRS, and LIRS
• Ensure routine reconciliation of the bank’s accounts, GLs
• Ensure that the finance and account functions support the business at a strategic and operational level.
• Manage the accounting, investor relations, tax, and Treasury departments.
• Manage any third parties to which accounting or finance functions have been outsourced.
• Engage and communicate effectively with colleagues, investors, customers, suppliers, regulators, and other internal and external stakeholders.

Financial Management and Reporting:

• Oversee the issuance of financial information and the completion of timely annual audited financial statements.
• Report financial results to the board and provide financial and non-financial information, both historic and forward-looking, to support the board’s decision-making.
• Reports financial status by developing forecasts, reporting results, analysing variances, and developing improvements.
• Manage processes for financial forecasting, budgets, consolidation, and reporting to the bank.
• Provide recommendations to strategically enhance financial performance and business opportunities.
• Monitors financial performance by measuring and analysing results; initiating corrective actions; minimizing the impact of variances
• Maximizes return on invested funds by identifying investment opportunities; maintaining relationships with the investment community

Risk Management:

• Understand and mitigate key elements of the bank's risk profile.
• Fulfil stewardship responsibilities by ensuring effective compliance and internal control systems are in place in line with local GAAP and applicable laws and rules for financial and tax reporting.
• Ensure that the bank complies with all legal and regulatory requirements.
• Ensure that record-keeping meets the requirements of auditors and government agencies.
• Report risk issues to the audit committee of the board of directors.
• Maintain relations with external auditors and investigate their findings and recommendations.
• Maintain appropriate insurance coverage.
• Maintain confidentiality of information and ensure that information is provided on a need-to-know basis.

Funding and Cash Position:

• Monitor cash balances and ensure cash flow is appropriate for the bank’s operations.
• Optimize the handling of business relationships and initiate appropriate strategies to enhance cash position
• Arrange for debt and equity financing.
• Control and evaluate fundraising plans and capital structure.
• Decide on investment strategies by considering cash and liquidity risks.

Bank Operations:

• Provide oversight and supervision to the bank's day-to-day banking operation.
• Ensure customer transactions are treated promptly and according to instructions.
• Ensure the bank operations follow the stipulated banking and supervision framework of the CBN.
• Implement necessary control and policy to safeguard the bank and prevent fraud.

Specific Skills and Requirements

• Bachelor’s degree in accounting, business, management, or finance; Postgraduate degree in finance, management, business administration, or equivalent business experience;
• Relevant professional certifications (e.g., ACCA, ICAN, CFA, or other recognized accounting and finance qualifications) are an added advantage.
• Minimum of 7 years+ of relevant professional experience in a similar role.
• Previous experience in a microfinance or fintech space is highly desirable.
• Digitally savvy and understanding of digital channel operations and the fintech space.
• Demonstrated strong understanding of structured finance transactions and have had vast financial modeling experience, developing complex financial models.
• Technologically adept and possess exceptionally good computer skills, being highly proficient in MS Excel, MS Office, MS Outlook, and PowerPoint
• A proven track record of interacting with executive management and the board of directors
• Deep understanding of Microfinance Bank’s policies and procedures