Head of Finance
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Job summary
The Head of Finance and Accounts for a Microfinance Bank (MFB) operates under a distinct regulatory and operational framework compared to a commercial bank. The focus shifts heavily toward portfolio tracking, managing high volumes of micro-loans, liquidity matching, and meeting specific Central Bank of Nigeria (CBN) regulatory thresholds for MFBs.
Min Qualification:
HND
Experience Level:
Senior level
Experience Length:
5 years
Language Requirement:
English
Work Type:
Full Time
Working Hours:
8 to 5
Applicant Location:
Nigeria
Job descriptions & requirements
Responsibilities:
- Review daily loan disbursement and collection data to calculate the exact Portfolio at Risk (PAR) and ensure appropriate impairment provisioning under IFRS 9.
- Prepare and submit monthly e-FASS or financial returns to the CBN, NDIC, and the National Association of Microfinance Banks (NAMB).
- Maintain optimum cash levels across the main office and branches to handle high-frequency customer withdrawals and loan payouts simultaneously.
- Track and account for specialized funds, intervention funds (e.g., DBN, BOI), or international donor grants if applicable.
- Oversee state-level and federal tax compliance (WHT, VAT, PAYE) tailored to small-scale financial operations.
Requirements:
- HND in Accounting, Finance, Economics, or a related field.
- Mandatory ICAN or ACCA membership.
- Possession of the Microfinance Certification Programme (MCP) certificate (issued by the CIBN) is highly preferred and often mandatory for management positions in MFBs.
- A minimum of 5-8 years of post-qualification experience within the financial services sector.
- At least 3 years in a supervisory or management role specifically within a Microfinance Bank, Fintech, or Credit institution.
Core Technical & Functional Skills:
- Portfolio Quality Tracking: Deep understanding of Portfolio at Risk (PAR) metrics, loan provisioning rules, and aging schedules.
- Regulatory Compliance: Expert knowledge of the CBN Revised Regulatory and Supervisory Guidelines for Microfinance Banks, including Capital Adequacy Ratios (CAR) and liquidity ratios.
- Microfinance Core Banking Systems (CBS): Hands-on experience with specialized microfinance platforms like BankOne
- Funding & Liquidity Matching: Managing short-term, high-velocity customer deposits against a fast-turning loan portfolio.
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