Thursday, November 7, 2019

Chief Financial Officer (CFO) New Job Opportunity at FINCA Microfinance Bank 2019

  AjiraLeo Tanzania       Thursday, November 7, 2019
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FINCA Microfinance Bank
Jobs Tanzania: Job Opportunity at Finca Microfinance Bank, Legal Officer | Deadline: 11th March, 2019
Job Title: Chief Financial Officer (CFO), FINCA Tanzania
Location: Dar es salaam
Job Summary
The Chief Financial Officer (CFO) is directly responsible for managing all finance and accounting activities of FINCA Bank Tanzania and supervises all its finance staff. S/he will ensure that the finance activities of FINCA Tanzania will support FINCA Bank Tanzania in pursuing its mission with a minimum of risk and a maximum of efficiency. As a member of the Management Team/Board, s/he shares responsibility for the overall performance and activities of FINCA Bank Tanzania and participates in making decisions on material issues
  • Minimum Qualification: Masters
  • Experience Level: Executive level
  • Experience Length: 5 years

Job Description
FINCA Microfinance Bank (Tanzania)
FINCA MICRO-FINANCE BANK formed its first Village Bank in Mwanza in 1998, bringing its model of group lending to Tanzania. In the years since, over a million customers have gained access to responsible financial products including credit, savings and money transfers.

ESSENTIAL DUTIES include the following. Other duties may be assigned.
  • Manage generation of financial statements according to local accounting standards
  • Manage timely reporting to relevant local authorities (central bank, tax office, etc.)
  • Manage timely reporting to F/I and hub
  • Analyzes financial data and develop financial analysis as a key management tool with the aim of optimizing FINCA Bank 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 Bank 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
  • Manage all financial transactions with creditors, banks, donors
  • Manage the planning and budgeting process of FINCA bank 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 Bank 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.

  • Supervise all finance staff of FINCA Bank 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 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
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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; other as required/appropriate
Ensure compliance of FINCA Bank Tanzania's finance activities with the Charter/bylaws of the subsidiary; FINCA and subsidiary policies, procedures, plans and agreements; decisions of subsidiary governing bodies as well as headquarter and regional office supervisor(s); maintain good coordination with regional office, headquarters, and governing bodies
Present relevant “Finance” issues to the Management Team/Board for information, discussion, decision making 

Interaction with local BoD and Chairman
Subsidiary Chief Executive Officer
Subsidiary Chief Operations Officer
Global Chief Financial Officer
Subsidiary finance team
HQ Finance & Treasury Team

Job Requirements
  • Extensive experience in best-practice financial management of a company, desirably a financial institution.
  • Outstanding interpersonal, communication and training skills.
  • Strong business management and negotiating skills.
  • Excellent technical report writing skills and computer literacy.
  • Strong analytical and organizational skills.
  • Good understanding of IT issues and the role and possibilities of IT in financial management.
  • Master’s Degree in Business, Finance, Economics, Management or Marketing (or equivalent work experience)
  • CPA, or Chartered Accountancy qualification (required)
  • Commercial banking experience (a minimum of 5 years is required, more - desirable)
Language Skills: Fluency in English

Availability and willingness to travel up to 25% of the time

For complete job requirements and Application Procedure please click the indicated lin:

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