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Chief Finance Officer (CFO) jobs – VisionFund Tanzania,

by Udahiliportal
February 16, 2019
Reading Time: 5min read
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Chief Finance Officer (CFO) – Vision Fund Tanzania
12771-19G10235
AfricaTanzania
Finance
Fixed term, Full-time
Arusha
08-Mar-19
International Role – No – Only National applicants will be considered.
PURPOSE OF POSITION:
This position holds the responsibility of the entire finance, accounting and treasury functions in the organization. The incumbent is responsible for ensuring proper and effective financial planning, management, and reporting of the organization. This includes preparation of financial projections and the annual budget; implementation of budgeting controls; ensuring that quality and timely financial statements and reports are generated and distributed according to internal, statutory, regulatory, tax, partnership, and contractual requirements; properly organizing the accounting, finance, and treasury departments and any other functions assigned for effective, efficient, and accurate operations.
He/she conducts financial analysis for decision making and makes recommendations to management and the Board. It ensures that financial policies, procedures, and internal controls are in place and aligned with local regulations, accounting standards, law, and global policies and implemented. The incumbent is responsible for asset-liability management and as such is part of the ALCO, and responsible for liquidity and treasury movements, solvency and capital adequacy, forex and interest rate risk. He/she is in charge of assuring that all funding obligations and needs are met in a timely manner. This position is responsible for proper functioning and quality of accounting system and the
registry of transactions, as well as good integration with the loan tracking system, in order to ensure data reliability and availability for decision making. He/she coordinates external audits, inspections, and/or due diligences, ensuring that these are effective and any findings are duly cleared in a timely manner.
MAJOR RESPONSIBILITIES:
Provides Leadership on Financial Issues:
• Advisor to the Chief Executive Officer (CEO) and Senior Management on all matters relating to finance including treasury and accounting.
• Submit timely financial performance reports to the BOD, senior management, regulators, and other stakeholders.
• Member of senior management team.
• Direct liaison between MFI and Regional, global finance teams, and lenders.
• He/she keeps a dotted line of reporting on technical matters with Regional Finance Director of VFI.
Financial Planning:
• Coordinates the budget preparation process, with significant input in business plan.
• Continuous monitoring of the financial performance of the organization with emphasis in analyzing performance as against its budget, operational and business plan.
• Ensures adequate support to Head Office and the Branches in preparation of the business and operating plans and budgets and monitoring progress against the same.
• Ensures that branch plans are incorporated into an overall business plan and projections model.
• Drives any additional financial projections as needed.
• Breaks down branch/project budgets, making these available to sectional heads.
Financial Management:
• Reviews, and updates financial policies and procedures that are relevant and cost effective to the organization.
• Maintains the finance management manuals, including treasury, finance and accounting manuals, and ensures that all changes related to policies and procedures are incorporated in the relevant manuals and approved.
• Acts as a member of the Asset Liability Management Committee (ALCO) , member of Management Risk Committee(MRC), Investment Commitee and furnishes the ALCO with the necessary information for them to make “sound, viable decisions”.
• Performs functions specified by the BOD and/or ALCO/MRC including the oversee of financial risks including forex and interest rate risk, debt to equity and capital adequacy of the organization.
• To ensure good risk management.
• Introduces measures to enhance the credibility, objectivity, compliance and usefulness of financial statements and reports prepared of the MFI.
Liquidity and Funding:
• Set the minimum/maximum liquidity thresholds.
• Measures and controls the institution’s funding requirements, acquisitions, and movements.
• Manages access to funds and ensures adequate funding is available across departments and locations.
• Pursues new funding opportunities and assesses grant and borrowing arrangements for feasibility and reasonability.
• Ensures that there is adequate control of cash and other assets according to laid down policies and regulatory requirements in the head office and the branches.
• Projects cash flow movements and develops contingency plans for MFI to withstand liquidity crises on ongoing basis and as need arises.
Accounting and Financial Records and Reports and Approval of Investment and Expenses:
• Provides technical oversight to the accounting team in formulating and implementing accounting systems across the MFI.
• Ensures that MFI maintains adequate and accurate records including balance sheet and income statements on required frequency.
• Ensures staff familiar with and implement policies and procedures.
• Provides the Finance Department staff the necessary training, coaching, and support to enable them to fulfill their duties accordingly.
• Supervises, monitors, and evaluates the work of the finance staff and provides input to the annual staff appraisal exercise.
• Approves expense reports, advance and operating expense requests, payment orders and purchase requests within levels and mandates set by the Board.
• Expenses that exceed 10% of approved budget for each line item and according to the approval and authorization levels.
• Fixed Asset purchases and contracts within the levels and mandates set by the Board.
• Approving and signing consolidated financial statements (balance sheet, income statement, cash flow statement).
• Implements internal controls that are efficient and effective for operations.
• Safeguards Assets are from unauthorized use or disposition.
• Prevents Irregularities and fraud are, and if they occur, can be detected, reported and corrected.
Regulatory and Audit Compliance:
• Ensures absolute compliance to regulations, accounting standards, internal policies, and contractual agreements related to finances.
• Receives certification from management and VFI that local policies are aligned with VFI policies and guidelines unless otherwise determined by regulatory authorities or local laws.
• Coordinates on-site or off-site inspections, audits, and due diligences from regulators, external auditors, and/or other stakeholders and attends to inquiries thereon, as required by law, BOD, shareholders, and/or contract.
• Ensures that audit, inspection, and/or due diligence findings are limited, adequately responded to, and any policy/procedure changes needed to clear findings are properly implemented.
• Brings on an annual basis, to the board for approval approval mandates and limits of authorities for management.
Any other duties assigned by the CEO or Regional Finance Director from time to time:
• Ensure that all procurement decisions are taking in compliance with the procurement manual approved by the board.
• Propose changes to the procurement manual as required to avoid that the same is manipulated.
KNOWLDEGE, SKILLS & ABILITIES:
• Certified Public Accountant (CPA) or similar qualification with at least three years working experience post CPA.
• Masters / Degree in Business Administration will be of added value.
• A minimum of 5 years or more in the field of finance management and accounting.
• Overall understanding and deep insights into Treasury Management.
• Good knowledge of the local and VF regulatory requirements under which VF MFI operates.
• Determined personality with initiative, perseverance and the ability to motivate and manage a team.
• Capability and willingness to take responsibility and highly developed sense of integrity.
• Ready to comply and live up to and in accordance with the organization Ideals and Core Values.
• Be proficient in Microsoft & sun systems with excellent excel spreadsheet skills. Experience of Microfin is preferred.
• Good knowledge in economic and financial topics.
• Be a good trainer, facilitator, mentor, and coach.
• Very good communication (presentation) skills.
• Must be a committed Christian, able to stand above denominational diversities.
• Able to lead daily devotions.
Working Environment/Travel:
• Office environment: Typical office based with frequent field visit(10% in the field and 90% at the office).
• Travel: 70% Domestic 30% international travel is desired.
• On call: No in the after normal working hours.
TO APPLY CLICK HERE

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