Chief Financial Officer (CFO)

Role Purpose

Reporting directly to Chief Executive Officer, the Chief Finance Officer (CFO) is responsible for the planning, implementation, managing and day to day of all the finance and accounting activities of the subsidiary. The CFO supports the subsidiary to reach the financial goals, focusing in cost reduction, profitability, liquidity, and the efficient use of Subsidiary’s assets. The CFO also ensures alignment of all financial decisions with the mission and operational objectives. As a member of the Management Team, the CFO shares responsibility for the overall performance and activities of FINCA Zambia and participates in making decisions on material issues.

Accountabilities

  • Supervising, training, developing, hiring, dismissing Finance staff
  • Supervise all finance staff of FINCA Zambia. 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
  • 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

Accounting and reporting

  • Manage generation of financial statements according to local accounting standards
  • Manage generation of financial statements according to GAAP or IFRS
  • Manage timely reporting to relevant local authorities (central bank, tax office, others)
  • Manage timely reporting to F/I and hub
  • Manage timely reporting to creditors and donors

Conduct financial analyses

  • 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; others as required/appropriate
  • Analyze financial data and develop financial analysis as a key management tool with the aim of optimizing FINCA Zambia’s activities: identify risks, inefficiencies, negative tendencies, and propose measures that reduce risks, improving efficiency, reverse negative tendencies
  • Creating/modifying regulations, procedures for finance activities
  • Create/modify procedures such that they are low-risk and efficient
  • Analyze existing procedures for adequacy and making changes, if necessary

Compliance

  • Ensure compliance of FINCA Zambia’s finance activities with the Charter/bylaws of the affiliate; FINCA and affiliate policies, procedures, plans and agreements; decisions of affiliate governing bodies as well as headquarter and regional office supervisor(s)
  • Maintain good coordination with regional office, headquarters, and governing bodies
  • Ensure compliance of FINCA Zambia with financial covenants in agreements with creditors and donors

Treasury and liquidity management

  • Create cash flow forecasts
  • Ensure availability of sufficient resources for lending in the required currency
  • Ensure investment policy follows ALCO guidelines (Asset Liability Committee) and FINCA International policy
  • Responsible for ensuring all financial conditions are met as required by creditors, banks, donors for all transactions

Planning, budgeting (together with the Management Team)

  • Manage the planning and budgeting process of FINCA Zambia according to guidelines set by BOD and the RD
  • Participate in completion of business plans for expansion into new regions

Coordination of external audit

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

Coordination with IT

  • Use possibilities of IT most efficiently
  • Propose modifications to IT programs/procedures that increase efficiency and/or lower risk
  • In case of changes to the IT structure/software that affect finance activities, participate in a/the leading role in the investigation, decision making and implementation process of the new/modified structure/software

Participation in general management of FINCA Zambia

  • As a member of the Management Team/Board, participate in FINCA Zambia’s general management as defined by the Charter and the Regulation on Management Team/Board (if existing)
  • Be informed about all important activities and developments at FINCA Zambia
  • Keep all Management Team/Board members informed about relevant issues/developments in FINCA Zambia’s finance activities and department
  • Present relevant Finance issues to the Management Team/Board for information, discussion, decision making
  • Participate/vote in decision-making on relevant “Finance” and “Non-Finance” issues
  • To oversee and supervise the procurement process that includes purchase and maintenance of all fixed assets that should be carried out in compliance with FINCA policies
  • Ensure maintenance of a comprehensive fixed asset register
  • Ensure purchase and maintenance of all fixed assets is carried out in compliance with donor and FINCA policies
  • Identify fixed asset needs, source them through the prescribed procedures, and develop a recommendation for approval as per the purchase policy
  • Carry out the logistics for the physical purchase of the item, after written approval, and ensure that taxes are not paid where legal exemptions are in place
  • Carry out a survey of insurance policies and annually review all the insurance policies in line with the administrative procedures
  • Ensure that fixed assets, liquid assets, personnel and other activities are insured in accordance with policy
  • Review all insurance policies annually and ensure proper purchasing procedures are followed in selecting policies
  • Ensure proper care and use of assets, and safe procedures are in place in all activities as the best insurance claims
  • Approve and submit all insurance against loss or damage
  • Oversee any life, accident, disability or portfolio insurance programmes (i.e.: excluding the health insurance programme) maintained by F/U for the benefit of its clients

Job Requirements

Qualifications

  • Degree in Accounting with CPA/ACCA or Chartered Accountancy Equivalent required
  • Masters Degree preferred
  • ZICA certification and association membership required

Experience

  • Minimum experience of 5 years
  • Exposure working in the region an asset, international experiences an asset
  • Extensive experience in best practice financial management of a company, desirably a financial institution
  • Experience working for the “big 4” audit firms an asset
  • The individual requires highest standards of attention to details, strong analytical skills and knowledge of accounting, financial and taxation standards and appropriate software

Knowledge and Skills

  • Strong knowledge of Financial Management principles
  • Strong command of accounting software
  • Risk Management
  • Knowledge of Commercial orientation / business acumen
  • Tax Planning
  • Managing performance of team
  • Planning and organizing skills
  • Decision-making skills
  • Negotiation, influencing skills
  • Excellent Analytical and Reporting skills
  • Strong Communication skills
  • Strong command of Microsoft suite

Language Skills

  • Fluency in English required

To apply for this job please visit search6.smartsearchonline.com .

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