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  • Posted: Sep 22, 2014
    Deadline: Not specified
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    The Foundation for International Community Assistance (FINCA International) is a non-profit, microfinance organization, founded by John Hatch in 1984. Sometimes referred to as the "World Bank for the Poor" and a "poverty vaccine for the planet", FINCA is the innovator of the village banking methodology in microcredit and is widely regarde...
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    Chief Financial Officer (CFO)

    Job Description

    The Chief Financial Officer (CFO) is directly responsible for managing all finance and accounting activities of FINCA Nigeria, and supervises all its finance staff. S/he will ensure that the finance activities of FINCA Nigeria will support FINCA Nigeria in pursuing its mission with a minimum of risk and a maximum of efficiency. As a member of the Management Team/Board, s/he shares responsibility for the overall performance and activities of FINCA Nigeria, and participates in making decisions on material issues.

     

    ESSENTIAL DUTIES include the following. Other duties may be assigned.

     

     

    • Manage generation of financial statements according to local accounting standards

    • Manage timely reporting to relevant local authorities (central bank, tax office, etc.)

    • Manage timely reporting to F/I and hub

    • Analyze financial data and develop financial analysis as a key management tool with the aim of optimizing FINCA Nigeria’s activities: identify risks, inefficiencies, negative tendencies, and propose measures that reduce risks,

    • improving efficiency, and reverse negative tendencies

    • Create/modify procedures such that they are low-risk and efficient

    • Ensure compliance of FINCA Nigeria with financial covenants in agreements with creditors and donors

    • Create cash flow forecasts

    • Ensure availability of sufficient resources for lending in the required currency

    • Manage all financial transactions with creditors, banks, donors

    • Manage the planning and budgeting process of FINCA Nigeria

    • Act as the coordinator and main contact person with external auditors

    • Keep all Management Team/Board members informed about relevant issues/developments in FINCA Nigeria's finance activities and department

    • Participate/vote in decision-making (with Management Team/Board Members) on relevant “Finance” and “Non-Finance” issues

    • Manages relationships with all Lenders, both local and external, in concert with the CMG Team in HQ.

    • Manage the ALCO Process as the principal representative of the local subsidiary.

     

    Job Requirements

     

    SUPERVISORY RESPONSIBILITY

     

    • Supervise all finance staff of FINCA Nigeria. For finance staff located in branches, the CFO retains the “professional responsibility”, whereas the “administrative responsibility” is transferred to the branch manager
    • Responsible for hiring/evaluating all finance staff (for branch employees: professional responsibility only; administrative responsibility is with branch manager), and their dismissal, if necessary
    • Assess the training requirements for the Finance Department as a whole and for its individual employees, and develop a capacity building plan for the Department and its individual employees
    • Preparation of staff to assume management positions
    • Conduct performance evaluations of the staff reporting to him/her and verify that the supervisory personnel also perform evaluations of their staff in a timely manner according to established procedures

     

     

     

     

     

    COMPETENCIES

     

     

     

    Analytical - Synthesizes complex or diverse information; Collects and researches data; Uses intuition and experience to complement data; Designs work flows and procedures.

     

     

     

    Managing People - Includes staff in planning, decision-making, facilitating and process improvement; Takes responsibility for subordinates' activities; Makes self-available to staff; Provides regular performance feedback; Develops subordinates' skills and encourages growth; Solicits and applies customer feedback (internal and external); Fosters quality focus in others; Improves processes, products and services.; Continually works to improve supervisory skills.

     

     

     

    Cost Consciousness - Works within approved budget; Develops and implements cost saving measures; Contributes to profits and revenue; Conserves organizational resources.

     

     

     

    Quality - Demonstrates accuracy and thoroughness; Looks for ways to improve and promote quality; Applies feedback to improve performance; Monitors own work to ensure quality.

     

     

     

    Written Communication - Writes clearly and informatively; Edits work for spelling and grammar; Varies writing style to meet needs; Presents numerical data effectively; Able to read and interpret written information.

     

     

     

    Ethics - Treats people with respect; Keeps commitments; Inspires the trust of others; Works with integrity and ethically; Upholds organizational values.

     

     

     

    QUALIFICATIONS

     

     

     

    • Extensive experience in best-practice financial management of a company, desirably a financial institution.
    • Outstanding interpersonal, communication and training skills.
    • Strong business management and negotiating skills.
    • Excellent technical report writing skills and computer literacy.
    • Strong analytical and organizational skills.
    • Good understanding of IT issues and the role and possibilities of IT in financial management.

     

    Education & Experience

     

     

     

    • Master’s Degree in Business, Finance, Economics, Management or Marketing (or equivalent work experience)
    • CPA, or Chartered Accountancy qualification (desirable)
    • Banking experience, or experience working in a regulated financial instution (required)
    • Experience working in Nigeria (required)

     

     

     

    Language Skills

     

     

     

    • Fluency in English

     

     

     

     

     

    KEY DELIVERABLES

     

     

     

    • Create/develop appropriate reports: financial ratios; liquidity report; currency gap report; various credit reports; breakdown by branches/regions; breakdown by products; plan-fact comparison; historic development; other as required/appropriate
    • Ensure compliance of FINCA Nigeria's finance activities with the Charter/bylaws of the subsidiary; FINCA and subsidiary policies, procedures, plans and agreements; decisions of subsidiary governing bodies as well as headquarter and regional office supervisor(s); maintain good coordination with regional office, headquarters, and governing bodies
    • Present relevant “Finance” issues to the Management Team/Board for information, discussion, decision making

     

    KEY RELATIONSHIPS

     

     

     

    • Subsidiary Chief Executive Officer
    • Subsidiary Chief Operations Officer
    • Global Chief Financial Officer
    • Subsidiary finance team

     

    TRAVEL REQUIREMENTS

     

    • Availability and willingness to travel up to 25% of the time

     

    PHYSICAL DEMANDS

    • Ability to travel in economy class when traveling by air or rail.

    Method of Application

    Interested and suitably qualified candidates should click here to apply online.

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