Team Lead - Financial Control Unit at Bosak Microfinance Bank Limited

Job Description
Why work with Bosak Microfinance Bank Limited?

• If you desire to work in an organization where employee motivation is key and passion is rewarded, then Bosak MFB might be the place for you.
• We are committed to building an open and rewarding work environment where all employees have equal opportunities for growth to realize their full potential.
• Our remuneration and employee welfare packages are among the best in the industry.

Key Responsibilities
Financial Management:

• Oversee day-to-day financial operations, including accounts payable/receivable, payroll, budgeting, and financial reporting.

Budgeting and Forecasting:

• Develop and manage the annual budget and financial forecasts. Monitor financial performance against budgets and provide variance analysis.

Financial Reporting:

• Prepare and present accurate and timely financial reports, including monthly, quarterly, and annual financial statements, in compliance with relevant accounting standards.

Regulatory Compliance:

• Ensure compliance with all relevant financial regulations, including Central Bank guidelines, tax laws, and other legal requirements. Prepare reports for regulatory bodies as required.

Internal Controls:

• Implement and maintain robust internal controls to safeguard the bank’s assets and ensure the accuracy and reliability of financial information.

Cash Flow Management:

• Monitor and manage the bank’s cash flow to ensure liquidity and optimize the use of funds.

Audit Coordination:

• Coordinate with external auditors during financial audits, ensuring all necessary documentation and information are provided.

Financial Analysis:

• Conduct financial analysis to support decision-making processes.
• Provide insights on cost control, profitability, and financial performance.

Team Management:

• Lead and mentor the finance team, ensuring professional development and the effective execution of financial tasks.

Collaboration:

• Work closely with other departments to provide financial insights and support business operations. Assist in the development of financial strategies and initiatives.

Technology and Process Improvement:

• Identify opportunities to improve financial processes andsystems, leveraging technology to enhance efficiency and accuracy.

Job Qualifications

• A Bachelor's degree in Finance, Accounting, Economics, or a related field.
• Professional certification in Accounting, such as ICAN or ACCA is preferred
• Experience in the banking or microfinance industry
• 5 years proven work experience with a minimum of 5 years Banking experience
• Strong understanding of microfinance operations and regulatory requirements.
• Proven experience in budgeting, financial reporting, and financial analysis.
• Excellent leadership and team management skills.
• Strong analytical and problem-solving abilities, with a keen attention to detail.
• Strong knowledge of accounting regulations and procedures, including Generally Accepted Accounting Principles (GAAP).
• Proficiency in Microsoft Office Suite and accounting software.
• Understanding of banking and financial services business model and unit economics.

Job Requirements:

• Strong understanding of accounting principles and finance
• Excellent analytical skills for interpreting financial data
• Experience with financial reporting and creating financial statements
• Attention to detail and accuracy in financial analysis
• Promptness in Posting of Transactions
• Income Statement and Balance Sheet Review
• Weekly/Monthly Bank Reconciliations
• Preparing General Ledger Reconciliation
• Monthly Update of Fixed Asset Register
• Preparing Monthly Journals
• PAYE/WHT Remittances, Receipts documentation
• Raising Internal Memos
• Preparing Monthly Management Account
• Raising Monthly Journals.

Salary
N150,000 - N250,000 monthly.

Benefits:

• HMO
• Constant Training and Development
• Leave & Passage Allowance
• Performance Induced Pay
• 13th Month.