Chief Financial Officer (CFO) at Chancen International:Deadline: 22-01-2021

POSITION:

Chief Financial Officer (CFO)

Department:

Senior Executives

Reporting to:

Chief Executive Officer (CEO) and Board of Directors

Location:

Kigali, Rwanda – Flexible work locations.

Job type:

Full time

Job Grade/Class:

Executive / E

About CHANCEN International

CHANCEN International is a non-profit organization that provides an ethical, fair, and responsible financing model for young people in Africa to access quality tertiary education. This financing model is called an Income Share Agreement (ISA) and was tried and tested for 20 years in Germany before being launched in East Africa in 2018. With an ISA financing model, CHANCEN International pays tuition fees during beneficiaries’ tenure of their studies, and graduates pay them back according to their income at the end of their studies, thus making it possible to finance the next generation of students.  CHANCEN administrative base is located in Kigali, Rwanda, and in its first two years of financing operations, more than 1300 young people accessed funds for their tertiary education.

CHANCEN believes that young Africans are ready to take on the problems that have held their continent back if they are fairly and responsibly empowered. Education is one of the vehicles for harnessing that potential, and we work to create equal access to high-quality tertiary education for traditionally excluded populations.  Our unique and innovative model of responsible and sustainable financing has the power to unleash intergenerational economic mobility for marginalized youth as they gain the skills required to participate in building strong economies and peaceful nations.

CHANCEN International’s next phase of growth comes with the launch of the Future of Work Fund which provides a blended investment opportunity for investors who want to ensure that the next generation of youth in Africa acquire employable skills and move into gainful employment. Our Income Share Agreement model has ensured students were able to continue their education to employment journey in the midst of the COVID-19 crisis and the demand from both students and partner institutions has seen a sharp increase in recent months due to reduction in household income and the ability for excluded youth to pay for education. CHANCEN International is seeking to raise $6M by the close of 2020 to advance our goal of serving 10,000 students in Rwanda, South Africa, and Kenya by 2023. Our 25-year-old financial instrument provides a blended investment option with a 5% return on debt for a 6year term as well as the option to make catalytic equity.

About the Opportunity

CHANCEN International is looking to appoint a Chief Financial Officer (CFO) who will join the executive team as we pioneer student finance in Sub-Saharan Africa. The organization has its headquarters in Rwanda. The executive team works collaboratively to achieve the organization’s mission. The ideal candidate is committed to promoting and ensuring that continuous learning, innovation, transparency, and creativity are upheld per company culture. The CFO will contribute tremendously in improving the efficiency and effective use of the budget with the specific job purpose as follows:

Job Purpose

The CFO will have primary responsibility for planning, implementing, managing, and controlling all financial-related activities of CHANCEN International. This will include direct responsibility for accounting, finance, forecasting, strategic planning, assets costing, deal analysis, and negotiations. The candidate will also extend his/her job functions by obtaining and maintaining investor relations and partnership compliance. The following are high-level responsibilities of the CFO:

• Drive financial planning;
• Oversee risk management by analyzing the organization’s liabilities and investments;
• Evaluate the organization’s fundraising plans and capital structure
• Ensure cash flow is appropriate for the organization’s operations;
• Supervise all finance personnel (country level finance managers);
• Supervise the Repayment Department;
• Manage relationships with vendors, including auditors and company secretaries;
• Prepare and manage financial reporting for shareholders, the board of directors, and investors;
• Prepare reliable current and forecasting reports;
• Oversee the company’s finance IT system;
• Ensure compliance with the law and company policies;
• Support the CEO with investor relations.

Roles, Responsibilities, and Duties:

1.      Strategic Finance

• Serve as a thought partner to the leadership team and formulate creative short and long-term financial strategies in accordance with organizational-level strategies; design activities to generate operating margins;
• Work closely with the CEO to provide strategic financial analysis and advice to support modeling and program-related decisions as the organization continues to scale rapidly;
• Develop and utilize forward-looking, predictive models and activity-based financial analyses to provide insight into the organization’s operations and business plans;
• Plan, implement, and manage all financial activities of CHANCEN International, including business planning, budgeting, forecasting, and investor and donor reporting, identification, and reporting business risks.

2.      Operational Finance

• Oversee and improve financial operations and develop a roadmap to implement rigorous processes to professionalize further and digitize operations;
• Partner with the CEO to evolve the finance function as the organization grows and scales; understand the infrastructure requirements at both the country and global levels;
• Construct and monitor reliable control systems and ensure that record keeping meets the requirements of auditors and government authorities; ensure compliance with all regulatory tax laws and company policies in each of CHANCEN International’s countries of operation and all Funds that the organization manages.
• Ensure timeliness, accuracy, and usefulness of financial and management reporting. This includes reports to government funders, foundations, CHANCEN Internationals’ board of directors, all subsidiary company boards, and fund or SPV board where CHANCEN International holds shares. Oversee the preparation and communication of monthly and annual financial statements.

3.      Leadership and Development

• Develop, evaluate and retain a highly-qualified team of finance professionals; contribute to further building the finance team and designing its structure to support scale;
• Manage a distributed team of direct reports and consultants in support of the global finance function; work closely with Country Directors and mentor in-country finance teams in a matrixed context;
• Establish a rhythm of frequent and highly proactive communication with the Executive Team and senior leaders to facilitate seamless operations and effective thought leadership; articulate concepts to both finance and non-finance audiences;
• Create, implement and maintain a continuous improvement and control plan for overall business operations while supporting the finance team to meet business needs
• Foster a culture of transparency and accountability in the finance department

Job Specification

Educational Qualifications Requirements

Minimum Bachelor’s Degree in Accounting or Finance, MBA and/or CPA highly preferred.

• 5+ years of progressively responsible financial management experience in a fast-growing organization with a budget of at least $10 million and preferably in an emerging market and /or education finance; previous experience as CFO, VP of Finance, Fund Manager or equivalent preferred;
• Led and managed Finance teams across multiple countries and operations;
• Experience working with processing systems including accounting systems, inventory management systems, business planning systems, and grant reporting systems preferred;
• Significant experience in or knowledge of non-profit accounting, including fund and grant accounting, compliance, and reporting; fluency with complex bi-lateral funding agency reporting requirements preferred;
• The role requires analytical rigor, strategic thinking, and the ability to synthesize data and produce clear deliverables;
• Detail, action, and results-oriented
• CPA required.

What we Offer?

• Competitive salary and benefits based on qualifications and experience;
• Flexible work locations;
• Financial support for further education.

 Other benefits include:

• A fulfilling work environment at a supportive and entrepreneurially-driven organization;
• A competitive compensation package including employer-paid medical insurance plan, dental and vision insurance benefits;
• Generous vacation and study leave benefits;
• Exposure to innovative ideas, projects, and collaborative staff activities;
• Access to numerous professional development opportunities.

How to Apply?

Interested candidates must send their detailed CV listing at least three references with a letter of motivation and salary expectation to batya@chancen.international

The Deadline for receiving applications is Friday 22nd January 2021.