Role: Head of Finance
Employer: BRAC Microfinance Rwanda
Deadline: 15th January 2025
Location: Kigali, Rwanda- Open to all Nationalities (The role may required travelling around Rwanda)
Application guide: Submit your CV and Cover Letter to info@afriqia-solutions.com with “Head of Finance (and Company Secretary)” in the Subject Line.
Key Purpose
The Head of Finance (and Company Secretary) is responsible todevelop and execute comprehensive financial plans aligned with the organization’s strategic goals. Conduct financial analysis, forecasting, and modeling to support decision-making processes. Ensure financial control as per organizational policy, and international accounting standards and ensure cost efficiency. Lead the development of forward-looking business projections and analytics frameworks to drive informed decision making and sustainable growth. Define and refine the “how” and “why” behind financial analytics, ensuring alignment with organisational priorities and dynamic market conditions. Promoting agility, innovation and a results driven culture within the finance function.
Provide timely and accurate financial reports to the executive team and Board of Directors. Lead and support the external audit process. Play the role of the company secretary, attend Board meetings, prepare minutes, ensure board compliance requirements and advise the Board of Directors accordingly.
Main Job/ Responsibilities
Financial Planning and Analysis:
• Develop and execute comprehensive financial plans aligned with the organization’s strategic goals.
• Develop robust business projections grounded in scenario modelling, data driven insights and industry trends to enhance the organisation’s ability to anticipate and adapt to change.
• Conduct financial analysis, forecasting, scenario analysis, cost-benefit analysis, trend analysis, and modelling to support decision-making processes.
• Provide timely and accurate financial reports to the executive team and board of directors.
Risk Management:
• Implement and monitor effective financial risk management strategies to safeguard the financial assets of the organization.
• Assess and mitigate financial, operational, and regulatory risks to ensure compliance with industry standards and regulations, lender covenants etc.
Budgeting and Cost Control:
• Lead the budgeting process, working closely with department heads to set financial targets and allocate resources efficiently following the annual strategic planning.
• Implement cost control measures to optimize operational efficiency and improve overall financial performance.
• Ensure resource allocation reflects organisational priorities and promotes long term sustainability.
• Champion innovative approaches to resource allocation and cost saving initiatives that align with organisational goals.
Treasury Management:
• Oversee liquidity management, optimizing the use of funds to meet operational needs and regulatory requirements.
• Identify funding opportunities and manage relationships with financial institutions and stakeholders to secure funding at competitive rates.
Capital Structure and Funding:
• Assess the capital structure of the organization and recommend strategies to optimize the balance between debt and equity.
• Explore and secure funding sources to support business expansion and capital requirements.
• Liaise with the Group treasury team regularly on funding needs.
Financial Systems and Controls:
• Implement and maintain robust financial systems, policies, and controls to ensure the integrity of financial data.
• Stay abreast of industry best practices and technological advancements to enhance financial processes.
• Support end-to-end process for annual financial audit.
Team Leadership and Development:
• Lead and mentor the finance team, fostering a culture of excellence, collaboration, and continuous improvement.
• Develop the skills and capabilities of the finance team to meet the evolving needs of the organization.
Grant Management:
• Manage grants received in the microfinance entity. Ensure full cost recovery budgets for development activities.
• Ensure timely and accurate reporting to the grant stakeholders.
Company Secretary Duties;
• Convening and providing administration for Board and Annual General Meetings (AGMs): for example, producing agendas, taking minutes, conveying decisions and handling meeting correspondence.
• Providing legal, financial and/or strategic advice during and outside of meetings.
• Advising directors and members of the senior leadership team on corporate governance matters. Inform directors about all the necessary regulations or those which may affect the meetings of shareholders and the Board of Directors
• Keeping up to date with regulatory or statutory changes and policies that might affect the organisation.
• Ensuring that company policies and required statutory documentation are up to date and are approved.
• Advise directors on their responsibilities and powers.
• Ensure that minutes of the meetings of shareholders or the Board of Directors are well prepared and that registers provided for by the incorporation documents are accurately kept.
Safeguarding Responsibilities:
• Ensure the safety of team members from any harm, abuse, neglect, harassment, and exploitation to achieve the entity’s goals of safeguarding implementation. Act as a key source of support, guidance and expertise on safeguarding for establishing a safe working environment.
• Practice, promote and endorse the issues of safeguarding policy among team members and ensure the implementation of safeguarding standards in every course of action.
• Follow the safeguarding reporting procedure in case any reportable incident takes place, and encourage others to do so.
Education and Experience
• At least Bachelor’s degree (Master’s preferred) in Finance, Accounting, Business Administration, or a related field. Professional certification (e.g., CPA, ACCA) is highly desirable.
• Required Experience (Including sector/industry):
o At least 5-8 years of managerial experience in Finance & Accounts in a financial leadership role within the microfinance, banking, or financial services industry.
o Proven experience in a senior financial leadership role within the microfinance, banking, or financial services industry.
o In-depth knowledge of regulatory requirements for deposit-taking microfinance institutions.
o Strong analytical, strategic thinking, and problem-solving skills.
o Excellent communication and interpersonal skills, with the ability to engage effectively with internal and external stakeholders.
o Demonstrated leadership experience in managing and developing high-performance finance teams.
Skills and Competences/ Capacity
• Dynamic and strategic finance capacity. Proven ability to influence and collaborate with cross functional teams, executive leadership and external stakeholders.
• Track record of driving financial transformation in entrepreneurial or high growth settings.
• Knowledge on IAS/IFRS, Accounting, Budgeting, Finance, Auditing, Tax, VAT, Fiscal laws and their application.
• In-depth knowledge of international standards in Auditing and Finance.
• Should be sincere, polite, dynamic, hardworking and willing to work under pressure.
• Should have excellent communication and presentation skills in English.
• Sound knowledge of Computer Literacy.
• Ability to adapt to evolving industry trends and regulatory changes.
