Chief Accountant Job at FINCA

FINCA

  • Owerri, Imo State
  • Permanent
  • Full-time
  • 1 month ago
FINCA is a leading international Microfinance Institution offering financial services and products to small scale businesses that have been turned down by traditional banks, so that these businesses can start, grow, and diversify with resulting increases in family income, nutrition, employment and well-being.FINCA pioneered the "Village Banking method of credit delivery, now used by hundreds of organizations worldwide. Our programs reach low-income people in more diverse countries than any other microfinance provider.We are recruiting to fill the position below:Job Position: Chief AccountantJob Location: Owerri, Imo
Employment type: Full TimeJob Summary
  • The CA position is a senior management position in the Finance department that reports directly to the Chief Executive Officer (CEO) or as designated.
  • The Chief Accountant is responsible for managing all finance, accounting and general administration of FINCA Nigeria, and supervises the entire finance team.
  • S/he will ensure that the finance activities if FINCA Nigeria will support FINCA Nigeria in pursuing its mission with a minimum of risk and maximum of efficiency.
  • S/he shares responsibility for the overall performance and activities of FINCA Nigeria and participants in making decision on material matters.
Major Areas of Responsibilities
Supervising, training, developing, hiring, dismissing Finance staff:
  • Supervise all finance staff of FINCA Nigeria.
  • Responsible for hiring/evaluating all finance staff, and their dismissal, if necessary
  • Assess the training requirements for the Finance Department as a whole and for its individual employees
  • Develop a capacity building plan for the department and its individual employees
  • Prepare 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 procedures.
Accounting & Reporting:
  • Manage generation of financial statements according to local accounting standards
  • Manage generation of financial statements according to GAAP or IFRS § Manage timely reporting to relevant local authorities (central bank, tax office, others) § Manage timely reporting to F/I § Manage timely reporting to creditors and donors
Conduct Financial Analysis:
  • 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; others as required/appropriate ·
  • Analyse financial data and develop financial analysis as a key management tool with the aim of optimizing FINCA Nigeria’s activities: identify risks, inefficiencies, negative tendencies, and propose measures that reduce risks, improving efficiency, reverse negative tendencies.
Creating/Modifying regulations, procedures for finance activities:
  • Create/modify procedures such that they are low-risk and efficient
  • Analyse existing procedures for adequacy and making changes, if necessary.
Compliance:
  • Ensure compliance of FINCA Nigeria’s finance activities with the Charter/bylaws of the bank; FINCA policies, procedures, plans and agreements; decisions of board as well as headquarter.
  • Maintain good coordination with headquarters. § Ensure compliance of FINCA Nigeria with financial covenants in agreements with creditors and donors.
Treasury and Liquidity Management:
  • Create cash flow forecasts and scenario analysis.
  • Ensure availability of sufficient resources for lending in the required currency
  • Ensure investment policy follows ALCO guidelines (Asset Liability Committee) and FINCA Impact Finance policies
  • Responsible for ensuring all financial conditions are met as required by creditors, banks, donors for all transactions.
Planning, budgeting (together with the Management Team):
  • Manage the planning and budgeting process of FINCA Nigeria according to guidelines set by BOD and HQ
  • Participate in completion of business plans for expansion into new locations
Coordination of external audit:
  • Act as the co-ordinator and main contact person with external auditors
Manage relationship with Tax Authorities:
  • Address tax issues and define a tax strategy for the company
Participation in general management of FINCA Nigeria:
  • As a member of the Management Team/Board, participate in FINCA Nigeria’s general management as defined by the Charter and the Regulation on Management Team/Board (if existing)
  • Be informed about all important activities and developments at FINCA Nigeria.
  • Keep all Management Team/Board members informed about relevant issues/developments in FINCA Nigeria’s finance activities and department. § Present relevant Finance issues to the Management Team/Board for information, discussion, decision making § Participate/vote in decision-making on relevant “Finance” and “Non-Finance” issues
To oversee and supervise the procurement process that includes purchase and maintenance of all fixed assets that should be carried out in compliance with FINCA policies:
  • Ensure maintenance of a comprehensive fixed asset register.
  • Ensure purchase and maintenance of all fixed assets is carried out in compliance with donor and FINCA policies.
  • Identify fixed asset needs, source them through the prescribed procedures, and develop a recommendation for approval as per the purchase policy.
Carry out the logistics for the physical purchase of the item, after written approval, and ensure that taxes are not paid where legal exemptions are in place:
  • Ensure that fixed assets, liquid assets, personnel and other activities are insured in accordance with policy.
  • Review all insurance policies annually and ensure proper purchasing procedures are followed in selecting policies
  • Ensure proper care and use of assets, and safe procedures are in place in all activities as the best insurance claims.
  • Approve and submit all insurance against loss or damage.
  • Oversee any life, accident, disability or portfolio insurance programmes (i.e.: excluding the health insurance programme) maintained by FINCA Nigeria for the benefit of its clients.
Customer Service:
  • Finance is also required to oversee proper cash management, to ensure that branches have enough money to disburse to clients as well as enforcing the right security measures to cash handling. These are critical elements for the reputation and trustworthiness of FINCA.
Qualifications and Experience
  • Relevant Degree/HND with CPA/ACCA or Chartered Accountancy Equivalent required. Master’s Degree is an added advantage. MCIBN or willingness to obtain certification with 1 year of engagement.
Experience:
  • Minimum experience of 3 years as chief accountant or head of finance unit. ·
  • Minimum of 6 years of experience in finance function (International experience is an added advantage)
  • Extensive experience in best practice financial management of a company, desirably a financial institution.
Key Deliverables:
  • Bank/branch Profitability: ROA, ROE, OSS, Portfolio Yield.
  • Liquidity: Assure timely financing to sustain business growth, while fully complying with ALCO risk management policies.
  • Compliance: Assure that the bank is compliant with Central Bank regulations, Tax regulations, and corporate policies.
  • Audit: Assure that internal and external financial audits are satisfactory.
  • Financial Analysis and Reporting: Deliver timely financial reports to internal and external stakeholders. Provide financial analysis and recommendations for strategic decisions.
  • Risk Management: Assure that all business risks (financial, operational, and legal) are kept at the levels approved by the Board.

Jobgurus