JOB OPPORTUNITY
BRAC is the world’s largest, and leading development organization dedicated to poverty alleviation and empowerment of the poor. Initiated in Bangladesh in 1972, BRAC now operates in 11 countries across Asia, and Africa. To counter poverty and promote social empowerment, BRAC strategically integrates development programs in microfinance, agriculture, health, education, human rights and legal aid, community empowerment, and more.
BRAC Rwanda Microfinance Company PLC was registered with the Rwanda Development Board in September 2018 and was granted a license from the National Bank of Rwanda to operate Microfinance and other financial services in Rwanda. BRAC Rwanda is looking for competent, dynamic, and self-motivated Rwandans to fill the following regular position.
Position: Chief Financial Officer (CFO)/ Head of Finance (HOF) – BRAC Rwanda Microfinance
Job Location: Rwanda Country Office.
Salary: Negotiable
Reporting to: CEO
Purpose
The CFO/ HOF will be responsible for providing strategic financial leadership, managing financial risks, and ensuring the overall financial health of the organization. This key executive role involves overseeing financial operations, implementing robust financial controls, and supporting business decisions to drive sustainable growth and financial stability. The person will be responsible for all operations in the country and will be reportable to the entity CEO with a dotted line with the Group Director of Finance.
Major Duties and Responsibilities:
1. Financial Planning and Analysis:
Develop and execute comprehensive financial plans aligned with the organization’s strategic goals.
Conduct financial analysis, forecasting, and modeling to support decision-making processes.
Provide timely and accurate financial reports to the executive team and board of directors.
2. 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.
3. Budgeting and Cost Control:
Lead the budgeting process, working closely with department heads to set financial targets and allocate resources efficiently.
Implement cost control measures to optimize operational efficiency and improve overall financial performance.
4. Financial Reporting and Compliance:
Ensure accurate and timely financial reporting in compliance with regulatory requirements and accounting standards.
Collaborate with internal and external auditors to facilitate audits and ensure adherence to audit recommendations.
5. Treasury Management:
Oversee liquidity management, optimizing the use of funds to meet operational needs and regulatory requirements.
Manage relationships with financial institutions and stakeholders to secure funding at competitive rates.
6. 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
7. 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.
8. 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.
9. Grant Management
Manage grants received in the entity. Ensure full cost recovery budgets for development activities.
Safeguarding Responsibilities:
- Ensure the safety of team members from any harm, abuse, neglect, harassment, and exploitation to achieve the programme’s goals on 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.
Key performance indicators
- No major financial issues from External / Internal Auditor; appraisal from donor and government authority;
- Smooth financial management in assigned countries.
- Holding capacity-building workshops for local accountants
- On-time delivery of lender and Donor reports
- Minimize cash shortages in all branches to improve the cash management system and minimize fraud.
- Safeguarding of BRAC property & assets
- Proper investment of funds and ensuring sustainability
Knowledge, Skills & Competencies:
- Knowledge on IAS/IFRS, Accounting, Budgeting, Finance, Auditing, Tax, VAT, Fiscal laws and their application
- In depth knowledge of international standards on Auditing and Finance
- Should be sincere, polite, dynamic, hardworking and willing to work under pressure
- Should have good communication and presentation skill in English
- Sound knowledge on Computer Literacy.
Specific educational qualification
Qualifications:
Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. Professional certification (e.g., CPA, ACCA) is highly desirable.
Proven experience in a senior financial leadership role within the microfinance, banking, or financial services industry.
In-depth knowledge of regulatory requirements for deposit-taking microfinance institutions.
Strong analytical, strategic thinking, and problem-solving skills.
Excellent communication and interpersonal skills, with the ability to engage effectively with internal and external stakeholders.
Demonstrated leadership experience in managing and developing high-performance finance teams.
Experience (Including sector/industry):
At least 5-8 years of managerial experience in Finance & Accounts in financial leadership role within the microfinance, banking, or financial services industry.
If you feel you are the right match for the above-mentioned positions, please follow the application instructions accordingly
Candidates need to send a signed Cover letter in PDF format indicating the title of the position applied for an updated CV mentioning educational and professional qualifications, years of experience, and notarized scanned copies of academic qualifications. All those documents should be sent through email: recruitment.rwanda@brac.net, the Application deadline is 22 December 2023
Please note that only short-listed candidates will be called for an interview.
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