Title: Finance and Strategy Manager – Microfinance Bank
Industry: Banking,
Location: Nairobi,
Gross Salary: Competitive,
Our client is one of the leading Microfinance Banks in Kenya. They seek to recruit a Finance and Strategy Manager responsible for ensuring effective strategic and operational financial planning, monitoring, and reporting to enhance the decision-making process of the Board and Senior Management Team and to ensure compliance with all statutory and external requirements and regulations, Management of the Bank’s financial functions of budgeting, cost management, financial reporting, compliance monitoring, liaison with strategy development and execution.
Responsibilities
- Provide
strategic leadership in operational financial planning, monitoring and
reporting to enhance decision making of the MFB
- Prepare
timely financial statements and reports as required by all pertinent laws
and regulations and deemed necessary and demanded from time to time by the
Board of Directors.
- Preparation
of financial results for communication to relevant external parties,
includes oversight and coordination of statutory reporting and audits by
Central Bank, Revenue Authorities, IRA and any other financial services
regulators
- Liaise
with the Chief Executive Office, the Board and senior management to
prepare and implement the financial strategy
- Develop,
implement, and ensure compliance with internal financial and accounting
policies and procedures
- Ensure
all statutory and regulatory reports are correct and submitted in a timely
manner as well as with various government bodies, on all tax, accounting,
and reporting requirements
- Advise
the CEO and the Board of Directors on all financial and accounting matters
of the Bank.
- Prepare,
control, and monitor the organization’s revenue, capital, and expenditure
budget in line with the strategic and operation plans of the organization.
- Create
and maintain strong financial discipline by planning, controlling, and
reporting on the organization’s financial performance to the Board and
Senior Management on a monthly, quarterly, half yearly and yearly basis.
- Liaise
with external auditors and regulatory bodies to ensure that all financial
transactions are compliant with existing regulatory instruments and
accounting standards.
- Take
leadership to ensure the bank is in compliance with IFRS9, Basel I, II and
III and all other international accounting and banking regulation
- Monitor
fixed assets register, provision accounts and investment portfolio.
- Liaise
with ICT department in the acquisition of the necessary software for the
finance function.
- Maintain
a good working relationship with the financial institutions with the aim
of securing funds necessary for the operations of the organization.
- Alert
the Board of Directors regarding any irregularity, lack of compliance,
lack of adherence and problems concerning the financial systems, financial
plans and financial operations which could have a negative financial
implication.
- Oversee
daily operations of the Accounts and Finance Department.
- Direct
and coordinate company’s financial planning
- Establish
and implement short- and long-term departmental goals, objectives,
policies, and operating procedures
- Coordinate
effective treasury management to ensure effective cash flow and cash flow
analysis.
- Monitor
and analyse monthly operating results against budget.
- Manage
the Bank’s cash flow position.
- Ensure
compliance with Government requirements in relation to budgetary
preparation and approvals.
- Prepare
Corporate Tax returns and ensures that the Bank adheres to all tax laws
and other financial statutory requirements.
- Work
with the senior management team and Directors to develop strategic plans
and annual business plans for the bank
- Participate
in mobilization of lending resources and sits in various committees of the
institution including ALCO, Tender Committee, Senior Management, ICT Steering
committee, and others that may be established from time to time.
- Manage
and support the financial planning and budgeting process for the Bank and
the business units
- Preparation
of Management information and reporting through the establishment of transparent
and clear management reporting system.
- Ensure
ROI for all assets and investments are properly defined and enhanced to
drive returns for capital investments
- Periodically
evaluate the various performance measurement processes and suggest any
improvements
- In-depth
analysis of key drivers of costs and identify strategies to manage costs
- Provide
leadership in performance management, employee development, talent
management and building a work environment that drives high performance
and employee satisfaction
- Carry
out market competitor analysis and advise the business on the different
strategies by the competitors with a view to enhance their strategies
- Develop
and manage budget for the function
- To
perform any other duty as assigned in line with the organization goals and
objectives