2 months ago

Job Summary

Our client seeks to employ competent and experienced personnel to Head our Finance Department. This position is to assist in the delivery of company-wide financial management, treasury management, accounting, budgeting, performance analysis, payroll, fund raising, and financial reporting function.

  • Minimum Qualification: MBA / MSc
  • Experience Level: Senior level
  • Experience Length: 6 years

Job Description/Requirements

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; analysing organization operations; identifying opportunities for improvement, cost reduction, and systems enhancement; capital sourcing for operation expansion.
  • Monitor and direct the implementation of strategic business plans
  • Evaluates and advises on the impact of long-range planning and the introduction of new programs/ 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, returns to CBN/NDIC
  • Liason and communication with regulatory bodies such as CBN, NDIC, FIRS, LIRS
  • Ensure routine reconciliation of the Bank’s accounts, GLs
  • Ensure that the finance and account function support the business at a strategic and operational level
  • Manage the accounting, investor relations, tax, and treasury operations
  • 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; analyzing variances; 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 analyzing 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
  • Fulfill 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 day to day banking operations
  • Ensure customer transactions are treated promptly and according to instruction.
  • Ensure the bank operations follow the stipulated banking and supervision framework of the CBN.
  • Implement necessary control and policy to safe guard the bank and prevent fraud.


Requirements:

  • Minimum academic qualification of HND/BSc degree in accounting, business, management, or finance
  • Postgraduate degree in finance, management, business administration, or equivalent business experience
  • ACA/ACCA/CFA/ICAN or other recognized accounting/finance qualification 
  • MCP Qualification is an added advantage
  • At least 5 years of relevant professional experience in a similar role
  • 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, and PowerPoint
  • A proven track record of interacting with Executive Management and Board of Directors
  • Deep understanding of Microfinance Bank’s policies and procedures


Skills/Knowledge:

  • Highly proficient with the use of MS Excel & MS Word;
  • Good knowledge of IFRS, Management Accounting and reporting standards
  • Good knowledge of CBN regulatory reporting
  • Must have a good grasp of technology
  • Attention to detail and strong analytical skills
  • Excellent communication, presentation and organization skills
  • Strong Stakeholder Management and team player.
  • A self Starter with the ability to work independently
  • Financial services or Fintech experience will be beneficial
  • Must have prior experience working with Bankone Core banking

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