Chief Financial Officer at FINCA Microfinance Bank (T) Limited

Chief Financial Officer at FINCA Microfinance Bank (T) Ltd September 2024

Posted: 18 Sep 2024
Category: Finance
Job type: Full-time
Location: FINCA Head Office, Dar es Salaam

Job Description
A CAREER ADVANCING FINANCIAL INCLUSION:
ABOUT FINCA IMPACT FINANCE
FINCA
Impact Finance believes all people should have the opportunity to
leverage their wisdom, talent and effort to determine their own destiny.
Our worldwide network of full-service banks and microfinance
institutions are grounded in the conviction that inclusive finance is
critical to bringing people out of poverty.

FINCA sets standards
for the microfinance industry, constantly innovating and developing new
products and services that help our customers achieve their dreams.
Millions of entrepreneurs rely on FINCA’s commitment to customer
protection and an unmatched customer experience to build a better future
for themselves, their families, and their communities.

Most of
FINCA’s 7000 dedicated employees live and work in the communities we
serve. We hire people from a wide variety of backgrounds at all career
stages to fully connect with our customers and strengthen the
institution. FINCA expects employees to personify our values of
transparency, active listening, accountability, and respect. Successful
candidates will embrace our brand attributes of warmth, trust, and
responsible banking, and possess a commitment to collaboration, service,
and inclusivity.

Role Purpose
The Chief Financial Officer
(CFO)is directly responsible for leading and managing all finance and
accounting activities of FINCA Tanzania and supervises all its finance
staff. S/he will ensure that the financial performance, and finance and
operating activities, of FINCA Tanzania will support FINCA Tanzania in
pursuing its mission over the long term while maintaining a stable,
efficient and adequate financial position adequately risk protected.

As
a member of the Management Team, s/he shares responsibility for the
overall performance and activities of FINCA Tanzania and participates in
making decisions on material issues. The CFO reports directly to the
CEO and indirectly to the Group CFO of FINCA, to whom s/he is also
responsible for the strategic leadership and execution of global finance
strategies and initiatives (on an as-needed basis).

Accountabilities
General

• Lead the execution of enterprise and finance strategies
• Lead the financial excellence, resilience and prudence of the company
• Drive the financial performance of the entity alongside Management Board, providing the key business insights
• Lead business intelligence and financial analytics
• Support the CEO in driving the Operating Plan
• Ensure compliance with central bank requirements
• Responsible for the successful and timely issuance of the Audited FSs by the external auditors
• Lead generation of financial statements according to local accounting standards
• Lead timely reporting to relevant local authorities (central bank, tax office, etc.)
• Lead timely reporting to FIF
• Analyze
  financial data and develop financial analysis as a key management tool
  with the aim of optimizing FINCA Tanzania’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 Tanzania with financial covenants in agreements with creditors and donors
• Create cash flow forecasts
• Ensure availability of sufficient resources for lending in the required currency
• Lead all financial transactions with creditors, banks, donors
• Lead the planning and budgeting process of FINCA Tanzania
• Act as the coordinator and main contact person with external auditors
• Keep
  all Management Team/Board members informed about relevant
  issues/developments in FINCA Tanzania’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.

PEOPLE & LEADERSHIP

• Supervise
  all finance staff of FINCA Tanzania. 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 procedure

Job Requirements
Qualifications

• Master’s degree in finance or business related fields of study
• CPA/ACCA or Chartered Accountancy qualification

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Experience

• At least 10 years’ work experience in Banking and 5 years at similar position or Senior Level

Language Skills: Fluency in English
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.
How to Apply:
This is Full-time Job, To submit your application, please follow the link provided below.
Validity period: 04/09/2024 – 11/09/2024.