Chief Finance Officer

Job Description

Job Title:

Chief Finance Officer

Organisational Unit:

Finance

Reports To: 

Managing Director 

Direct Reports:          

•      Financial Control & Reporting Officer

•      Team Lead, Regulatory Reporting

•      Team Lead, Performance Management

General Working Conditions:

Standard working conditions.

Location:

Head Office

Job Objective(s)

Planning, managing, and controlling all finance and accounting related functions for the company. This will include direct responsibility for business analysis and planning, financial systems, financial controls, accounting, financial and external reporting, budgeting, treasury and cash management, tax compliance, filings and other areas as appropriate.

Responsibilities:

Strategic/Financial

  • Advise management on fiscal control and profitability and ensure transparent management of Bank's fiscal operating results.
  • Support the formulation of strategic and medium term business plans which contain financial insight to the businesses and oversee implementation.
  • Provide direction to Bank on financial expertise based on regular performance issues, through quality variance analysis of financial performances.
  • Oversee the budget process, collate inputs, and compare the company’s actual performance with budget.
  • Provide direction on management of balance sheet and liquidity and interest rate risk through the select process with an objective on compliance with Bank and regulatory ratios and reporting requirements.
  • Champion the drive for the development and implementation of re-engineering initiatives, i.e. Finance Transformation.
  • Prepare department budgets and monitor compliance to budget.

Customer

  • Collaborate and coordinate the activities of external suppliers of financial services hired or contracted by the bank, including accountants, auditors, financial consultants, underwriters and brokers, the banking system and other financial venues.
  • Represent the company to financial partners, including financial institutions, investors, board, auditors etc
  • Participate in periodic meetings of EXCO, Disciplinary committee, etc

Operations

  • Direct and implement Bank financial and management policies and procedures in support of capital, investment, portfolio allocation and strategic business decisions, including financial and regulatory reporting, budgeting, forecasting and balance sheet management.
  • Ensure credibility by providing timely and accurate analysis of budgets, financial reports and financial trends in order to assist the MD/CEO, the Board of Directors and other Senior Executives in performing their responsibilities.
  • Employ the use of tools like the balanced scorecard, dashboards, and financial statement and ratio analysis to communicate the company’s financial performance.
  • Manage operational risk of the finance function through application of Bank Financial Control Policy and Operation Risk Management Framework.
  • Manage required periodic financial statements (balance sheet, income statement, and cash flow statement) and oversee preparation of annual audit and tax submissions.
  • Collaborate with Bank Tax and local tax advisors to support the effective management of local tax liabilities.
  • Understand all of the company’s liabilities and maintain appropriate levels of operating loan loss, investor liquidity and borrower reserves.
  • Manage external statutory audit requirements i.e. rationale for accounting positions, analytical and risk reviews.
  • Create and maintain effective financial information systems to meet regulatory reporting requirements.
  • Prepare periodic management reports detailing performance of department.

People

  • Continually evaluate the finance team structure and plan for ongoing improvement of the efficiency and effectiveness of the group, as well as providing individuals with professional growth plans.
  • Supervise activities of department members and provide coaching, mentoring and training as appropriate.
  • Monitor/manage performance of subordinates against pre-assigned goals and conduct performance appraisals as required.

Reports

  • Monthly staff payroll details – Monthly
  • HR report reflecting – Recruitments, exits, major HR policy change and implementation – Monthly

Key Performance Indicators

  • Department/Unit expenses vs. budget
  • Operating Profit
  • Available working capital
  • Return on risk weighted assets
  • Customer Net Promoter Score (Internal customers of Org. Unit)
  • Accuracy of capital deductions
  • People management responsibilities          

Competencies Required:

Organisational Competencies

  • Professional Attributes
  • Business Knowledge
  • Personal Attributes
  • Leadership Skills

Functional Competencies

  • The Bank Financial Policies
  • Financial Analysis/ Interpretation
  • Payroll
  • Cost Accounting
  • Management Accounting
  • Budgeting & Forecasting
  • Tax Management
  • Fixed Assets / Capital Accounting
  • Reconciliations

Job Specifications:

Qualifications & Certifications

  • A University degree in Accounting/Finance or other related disciplines.
  • Post-graduate and/or professional qualification is required.       

Working Experience

  • 8 – 10 years working experience with a minimum of 4 years at supervisory level, within the Banking industry.           
 
×