Head of Finance (Microfinance Bank) at Zylus Group International

Job Summary

• The Head of Finance is responsible for providing strategic financial leadership, managing financial reporting, ensuring regulatory compliance, safeguarding the Bank’s financial integrity, and supporting sustainable growth.
• The role oversees budgeting, financial planning, treasury management, regulatory returns, cost control, and audit coordination.
• This position ensures the Microfinance Bank maintains sound financial health in line with CBN guidelines and internal policies.

Key Responsibilities
Financial Management & Reporting:

• Prepare accurate and timely monthly, quarterly, and annual financial statements.
• Ensure compliance with IFRS and CBN Microfinance reporting standards.
• Oversee the preparation of Management Accounts for decision-making.
• Monitor financial performance and advise management on variances and risks.
• Ensure proper classification, recording, and reconciliation of all financial transactions.

Regulatory Reporting & Compliance:

• Prepare and submit statutory returns to CBN, NDIC, FIRS, and other regulators.
• Ensure prompt remittance of taxes, pension, and statutory deductions.
• Maintain compliance with all financial regulatory requirements and circulars.
• Coordinate regulatory examinations and provide necessary documentation.

Budgeting & Financial Planning:

• Lead the annual budgeting and forecasting process.
• Monitor budget implementation and provide variance analysis.
• Recommend cost-saving initiatives and efficiency improvements.
• Prepare long-term financial projections to support strategic goals.

Treasury & Liquidity Management:

• Manage the Bank’s cash flow to ensure liquidity availability.
• Monitor daily cash positions, credit balances, investments, and obligations.
• Implement liquidity management processes in line with regulatory requirements.
• Support ALCO (Asset and Liability Committee) activities.

Internal Controls & Audit Coordination:

• Establish strong internal control frameworks and enforce compliance.
• Manage internal and external audit processes and ensure audit issues are addressed.
• Ensure accuracy and integrity of financial records and general ledger accounts.
• F. Risk Management
• Identify financial risks and recommend mitigation measures.
• Support credit risk assessment with financial insights and analysis.
• Participate in risk management committees.

Leadership & People Management:

• Lead and mentor the finance team for high performance.
• Conduct performance appraisals and capacity-building initiatives.
• Promote financial discipline and accountability across the Bank.

Strategic Financial Advisory:

• Provide financial insights to support business decisions and strategic initiatives.
• Advise management on capital adequacy, profitability, and financial sustainability.
• Support fundraising, capital injection, and investor relations.

Key Performance Indicators (KPIs)

• Accuracy and timeliness of financial reports.
• Quality and timeliness of CBN/NDIC regulatory returns.
• Liquidity adequacy and treasury performance.
• Budget accuracy and variance levels.
• Audit ratings and reduction in audit exceptions.
• Cost-to-income ratio improvement.
• Effective financial controls with minimal financial leaks.

Job Requirements
Education:

• Bachelor’s Degree in Accounting, Finance, Economics, or a related field.
• Professional qualification (ICAN, ACCA, or equivalent) required.
• Additional certifications (ACIB, CFA, etc.) are an advantage.

Experience:

• 7–10 years of progressive financial experience.
• 3–5 years in a senior finance role within the banking or microfinance sector.
• Strong experience with regulatory reporting, IFRS, and financial analysis.
• Proficiency with banking software and core accounting systems.

Skills & Competencies:

• Strong analytical and financial modeling skills.
• Excellent knowledge of CBN/NDIC regulations and statutory reporting.
• High integrity and sound ethical judgment.
• Strong leadership and team management skills.
• Strong proficiency in MS Excel and financial tools.
• Excellent communication and presentation abilities.

Behavioral Competencies:

• Attention to detail and accuracy.
• High professional integrity and confidentiality.
• Ability to work under pressure and tight deadlines.
• Strategic thinking and problem-solving skills.
• Strong collaboration skills across departments.