Chief Finance Officer (CFO), VisionFund Zambia

Chief Finance Officer (CFO), VisionFund Zambia

PURPOSE OF THE POSITION:

The Chief Finance Officer (CFO) is responsible for helping the institution accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of finance management, control and governance processes. The CFO coordinates, monitors and facilitates compliance with existing laws, rules and regulations. He/She also advises the Chief Executive Officer (CEO) and the Senior Leadership Team on the adequacy of the systems and risk management.

KEY RESPONSIBILITIES:

Member of Leadership Team:

• Advisor to the CEO and Senior Management Team on all matters relating to finance including treasury, accounting, and administration.
• Submit timely financial returns to the BOD, senior management, regulators and other stakeholders.
• Prepare business and financial reports for Board of Directors.

Leads the development of an overall business plan for VisionFund Zambia that includes, among other things, the branch targets and projections:

• Continuous monitoring of the financial performance of the organization with emphasis in analyzing the latter’s performance as against its operational and business plans.
• Provides support to the Head Office and Branches in preparation of the business plan and preparation and monitoring of the annual operating plans and budgets.
• Ensures that branch plans are incorporated into an overall business plan and projections model.

Establishes and maintains all policies relating to financial management, financial controls and risk:

• Establishes, reviews, and updates financial policies and procedures that are relevant and cost effective to the organization.
• Maintains the finance management manuals, including treasury, accounting and administration manuals. and ensures that all changes related to policies and procedures would be incorporated in the manual.
• Acts as a member of the procurement committee or its equivalent and furnishes the committee with the necessary information for them to make ‘sound’ viable decisions.
• Performs functions specified by the BoD procurement committee and Asset Management in relation to establishing broad guidelines for the institution’s tolerance for risk and expectations from investment.
• Introduces measures to enhance the credibility and objectivity of financial statements and reports prepared with reference to the affairs of VisionFund Zambia.

Manages liquidity and the appropriate levels of assets and liabilities:

• Measures and controls the institution’s funding requirements.
• Manage access to funds: Makes periodic assessment of liabilities and liability holders, explore borrowing arrangements.
• Ensures that there is adequate control of cash and other assets (budgetary management and control) according to laid down policies and Bank of Zambia (BoZ) regulations.
• Develops contingency plans for Vision Fund Zambia to withstand liquidity crises, and updates the contingency plans, as the need arises.
• Recommends policies or changes on policies on liquidity and funds management, and ensures timeliness, applicability, and practicality of these policies.

Supervises the accounting system and process:

• Provides technical oversight to the branch accountants in formulating and implementing the branch accounting system.
• Ensures that VisionFund Zambia maintains adequate and accurate records including balance sheet and periodic statements of income and expense.
• General oversight to ensure payroll is accurate, prompt, complete and reliable.
• Provides the finance department staff with the necessary training and other support to enable them to fulfill their duties accordingly.
• Supervise, monitors, and evaluates the work of the finance staff and provides input to the annual staff appraisal exercise.

Ensures compliance to regulators, audits and VFI:

• Ensures absolute compliance to regulations on liquidity, capital, adequacy, and provisioning as well as to reporting requirements set by BoZ and other regulators.
• Attends to inquiries, on-site or off-site, from BoZ, other regulators, and external auditors, and provides due assistance to the regulators and external auditors during inspection.

Supervises the effective financial provision of administrative services:

• Liaises with tax authorities/consultants whenever necessary.
• Maintains insurance portfolio and ensures that all claims are settled without undue losses to the organization.

And any other duties that may be assigned by the CEO from time to time.

KNOWLEDGE, SKILLS AND ABILITIES:

• Minimum Bachelor’s Degree in Accounting, ACCA, CIMA, CA or any other relevant field.
• Master’s Degree in a related field is an added advantage.
• Must be a member of a professional body ZICA.
• At least 8 years’ experience in managing microfinance operations in an MFI or Bank setting under regulated environment.
• 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 rectitude.
• Ready to comply and live up to and in accordance with the organization Ideals and Core Values.
• Be a good trainer, facilitator, mentor, and coach.
• Very good communication and marketing skills.
• Good knowledge in economic and financial topics.
• Good analytical and problem-solving skills.
• Must be a committed Christian, able to stand above denominational diversities.
• Attend and lead daily devotions.
• Perform other duties as required by the board or the owners

Work Environment/Travel:

• Office environment: typical office based and frequent travel to fields (40% traveling and 60% office based).
• Travel: 90% Domestic 10% international travel is desired.
• On call: Yes, in the after normal working hours.
• Must get a work Permit if not a local staff from within the Country.

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