Head of Finance

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Role: Head of Finance
Employer: BRAC Microfinance SL Ltd
Application Deadline: 25th March 2024
Work Location: Freetown, Sierra Leone

 

Application Instructions: Submit CV and Cover Letter to info@afriqia-solutions.com with “Head of Finance” in Subject Line.

 

Overview

This position reports to the CEO and serves as an integral member of the senior management team wearing the hat of the Head of Finance of Microfinance program responsible for managing and overseeing the company’s financial systems to achieve the vision and mission of the organization. As the Head of Finance, the candidate will be responsible for developing, monitoring, and evaluating overall finance management strategy with the CEO and other relevant departments, emphasizing double bottom line performance, working capital, and enhancing shareholder value. This position will provide useful financial insights to facilitate sound decisions, formulating and executing our strategy.

 

Key Purpose

The Head of Finance (MF) is expected to be well versed in the accounting standards that is International Financial Reporting Standard (IFRS), provide accurate forecasting, conduct financial risk management, and manage relationships with external parties such as, but not limited to, tax authorities, auditors, lawyers, Bank of Sierra Leone, ensure timely, accurate and transparent reporting and pro-actively provide updates on current affairs and issues. As a core member of senior management team of the entity, the candidate also needs to be on top treasury situation of the entity, ensuring adequate cash flow is available for expansion and supporting CEO in raising funds from both local and international sources.

 

Responsibilities

  • You will focus on growth and scalability to drive continuous improvements in efficiency and quality. You will be responsible for building a culture that represents both the company’s goals and aspirations, as well as developing the skills and experience of your teams. You will also be required to get “hands-on” in achieving these outcomes.
  • You will be responsible for the day-to-day management of the Finance function, shareholder relations, risk management, and raising debt with the Group to fund the growth strategy.
  • Define growth for impact strategy in conjunction with the Group, manage and communicate capital requirements/implications of business decisions to the CEO, BRAC International Holdings BV, and the Board.
  • Work closely with BRAC Sierra Leone in the implementation of the various operating programmes i,e AIM.
  • Responsible for the successful implementation of the Core Banking System in the institution.
  • Preparation and presenting Board Packs to the Leadership team and bankers.
  • Leading the Finance & Accounts team in Sierra Leone and working closely with other departments, especially IT (Information Technology).
  • Coach and mentor the team to develop capacity, conduct annual appraisals, and handle all other staff-related aspects.
  • Perform treasury management including mobilizing funds in support of BIHBV both from local and international sources.
  • Manage foreign currency risk of the entity by developing mitigation strategies.
  • Managing and overseeing the cash flow of the company and ensuring it has the appropriate treasury controls.
  • Responsible for ensuring full compliance with regulatory and statutory requirements, funders’ and donors’ covenants with support from the CEO and country management team.
  • Advise and suggest management on accounting concepts and treatment; responsible for accurate and timely budgeting and forecasting.
  • Coordinate and/or work with external and internal auditors.
  • Submission of monthly accounts to BRAC International Holdings, Head Office; dealing with payroll-related issues, Cash Management, Accounts Payable, and timely and accurate reporting to other stakeholders.
  • Coordinate all financial matters with group finance of BRAC International Holdings and work closely with the (group) team members to resolve any issues and/or implement improvements such as systems, procedures, etc.
  • Develop and implement a financial risk management policy.
  • Effectively manage relationships with the board of directors, bankers, suppliers, and other financial relationships.
  • Coordinate and manage the financial reporting for the organization. This includes but is not limited to monthly financial reporting, budgeting and forecasting, strategic financial planning, and all statutory financial reporting.
  • Responsible for capital planning and allocation as well as balance sheet optimization.

 

Safeguarding Responsibilities

  • Be a champion of a safeguarding culture across all levels of the organization by implementing (if needed) and adhering to the safeguarding policy.
  •  Act as a key source of support, guidance, and expertise on safeguarding for establishing a safe working environment.
  • Responsible for ensuring team members are appropriately trained and supported and have access to resources regarding identified and actioned issues in accordance with the safeguarding policy and procedure.
  • Follow the safeguarding reporting procedure in case any reportable incident takes place, and encourage others to do so.

 

Additional Responsibilities

  • Communicate with Bank(s), External Auditors, Donors, Investors, and Government offices.

 

Key Performance Indicators (KPIs) 

  • Ensure sufficient cash availability at all branches and HO at all times to support the Growth For Impact Strategy.
  • Maintain a strong control environment and/or implement enhancements.
  • 100% compliance with internal policies & procedures as well as applicable laws & regulations.
  • 100% timely and accurate reporting of both internal and external financial reporting standards.
  • Safeguard BRAC assets.
  • Maintain a safe working environment both physical and mental.

Education and Knowledge

  • Master’s Degree in a relevant field, preferably business administration, accounting or financial field.
  • 10+ years of financial experience, with at least 5 years in Senior Financial Management capacity spanning Accounting, Business Planning, Operations, Reporting, and Accounting with excellent knowledge of Microfinance Business.
  • M.Com/MBA on Accounting or Finance related field.
  • Professional qualification such as ACCA/ CPA.
  • MBA and CFA are an added advantage.
  • Stay up to date with technological advances, accounting principles and accounting software to be used for financial purposes.
  • Knowledge of statutory and regulatory issues as well as global best practices.
  • Demonstrates excellent understanding of financials as well as advanced business finance and performance analysis.

 

Skills and Competencies

  • Strong budget and management skills, including proven ability to manage projects/processes.
  • Financial industry knowledge.
  • Ability to deal with tight timelines, multiple priorities, and demanding customers, in a fast-moving, constantly changing environment.
  • Ability to collaborate with upper management to organize, plan and achieve company financial goals.
  • High degree of professionalism, maturity, and confidentiality with Strong oral, written interpersonal and presentation skills.
  • Strategic thinking, planning, and creative problem-solving skills.
  • Strong People skills- Building Collaborative Relationships with the ability to manage a team of professionals, guiding, coaching, mentoring towards achieving common objectives. 
  • Desire and ability to achieve results under tight deadlines.