Job Details

Job Description

Job Description

GENERAL JOB INFORMATION

Job Title Chief Financial Officer

Reports to Managing Director

Location Head Office

Direct Reports Management Account, Financial & Regulatory Reporting Officer & Finance Officer

Job Purpose

Act as the Head of Finance with overall responsibility for all Financial accounting, Management Information Systems, local foreign taxes, local regulatory compliance as well as a liaison with internal and external auditors and bank examiners. Also act as Chief Financial Advisor and Controller on the respective country’s financial performance and control environments. The position represents the primary contact person to regulatory bodies.

JOB CONTEXT

• Manage, develop, train and direct the entire financial control team of Finance Officers and the accountants.
• Develop strategic financial procedures to provide the basis for management decisions and control and maintain integrity of accounting practices, reporting and disclosure
• Support the business mission proactively while providing independent judgement necessary to meet corporate objectives and policies.
• Anticipate changes in economies and business climates; analyze implications of change in relation to the business
• Develop innovative and analytical approaches to provide more meaningful management information.
• Maintain the required local regulations; coordinate the preparation and review of all local tax returns with local advisors and Corporate Tax Divisions.
• Ensure compliance with local regulatory requirements as issued by the Banks Regulators, the Taxation Authorities, Ministry of Finance, and other bodies affecting the banking industry.
• Provide management support in the development of the strategic operating plan by analysis of the business drivers for both revenue and expenses.
• Participate in the research and analysis of proposed and existing business transactions to determine impact on profitability.
• Serve as a focal point of accounting and help with interpretation of financial data.
• Exercise control over the interpretation and maintenance of tax records and information used in completing local tax returns.
• Technical and managerial support in respect of the country to the Regional and Group CFO.
• Keep senior management informed of all new accounting policies and procedures and reporting rules and regulations and their implications.
• Responsible for overseeing the preparation of year end statutory counts and statutory audit.
• Ensure that the control and reporting of market risk reporting activities are reported accurately and timely

IMPACT

• Finance is responsible for dissemination of bank-wide finance policies, the coordination of the operational budget/plan, control of the financial database, ensuring data integrity and monitoring financial performance for senior management.

The incumbent should pay attention to detail, customer & results focused, a good team player.

Key Responsibilities

LEGAL ENTITY MANAGEMENT

• Supervise and monitor implementation of local GAAP and IFRS
• Capital management, including Major Expenditure Proposals (MEP)
• Supervise and monitor cross border risk reporting for the country
• Corporate governance

BALANCE SHEET CONTROLS

• Supervise internal reporting for the Affiliate
• Ensure full ownership and robust analysis of all balance sheet accounts
• Conduct regular vertical and horizontal balance sheet reviews
• Review and monitor analysis of aged items, items at risk and red account reports
• Supervise and monitor monthly preparation of balance sheet and control book
• Management and reporting of inter-company items
• Supervise and monitor the monthly balance sheet review meetings with account owners
• Coordinate new Finance systems implementation

INTERNAL CONTROL ENVIRONMENT

• Management and oversight of proof/e-recon process.

LEGAL/STATUTORY AND REGULATORY REPORTING

• Mange and supervise local regulatory reporting
• Manage and supervise local financial reporting
• Oversee and coordinate audit and other external exams and reviews.
• Monitor compliance with all local requirements

TAXATION

• Work with Country, Cluster and Tax Representative to ensure tax compliance and pro-active tax management.

JOB IMPACT –please describe below how the job impacts each quantitative measure provided (directly or indirectly)

Revenue Manage the Finance Department expenses. Database set-up, Reporting, Analyzing, Allocations Process, Advisory and Business support to MD, Business Units and all other support functions.

Assets: Database set-up, Reporting, Analysis, Valuations, Advisory and Business support to MD, Business Units and all other support functions.

Expenses: Manage the Finance Department expenses. Database set-up, Reporting, Analyzing, Allocations Process, Advisory and Business support to MD, Business Units and all other support functions.

Headcount: Responsible for optimal utilization of approved headcount and for the recruitment, appraisal, training, development, monitoring and direction of direct reports. Also responsible for management of succession plan. Ensure proper reporting of headcount.

Others: N/A

BUSINESS RELATIONSHIPS

Type of internal/external relationship and the frequency of contact

Internal

Entity Relationship Frequency

MD Act as chief Financial Advisor Daily

Corporate Banking

Commercial Banking

Consumer Banking

Treasury

TSG

Decisions making support, Financial performance evaluation and variance analysis Daily

Support Function Decisions making support, Financial performance evaluation and variance analysis Daily

Operations and Technology Decisions making support, Financial performance evaluation and variance analysis Daily

Direct Reports Managing, supervising, training, mentoring etc. Daily

Group Finance Reporting, Advisory Daily

External

Entity Relationship Frequency

Central Bank Regulatory reporting and issue – prime contact Monthly on a need’s basis

Bank Regulators Regulatory reporting and issue – business license Monthly on a need’s basis

Ministry of Finance Regulatory reporting and issue – business license On a need’s basis

External Auditors and Tax Advisors Consultation, coordination of external examinations On a need’s basis

ARR and internal Audit Primary contact for all Finance related processes, procedures and responsibilities On a need’s basis

Government Taxation department Taxation payment, review and issues Monthly on a need basis

Other key responsibility will include: – Perform all other duties as reasonably assigned

JOB PROFILE

Experience & Qualifications

• Minimum of 10 years post qualification experience in accounting or Audit environment of which 3 years must be at senior management positions.
• Prior experience dealing with regulators (Central Bank, Tax Authorities).
• Preferably prior senior financial management experience in a banking or financial institution
• Experience in building, training, motivating and managing a team of senior accountants.
• Experience in Audit Firm, or a previous internal Audit position is an added advantage
• University Degree in Finance, Accounting/ACCA/CIMA or relevant field.
• Must be registered with ZICA

Skills, Capabilities & Personal Attributes

• Excellent interpersonal skills and good verbal and written communication skills
• Excellent analytical thinking with integration skills to increase the effective use of Management data
• Excellent numerical skills
• Good computer skills, especially MS Excel.
• Negotiation and presentation skills
• Creative, with initiative, flexible and able to work under pressure.
• Strategic planning skills