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1. DIRECTOR OF FINANCE
Reports to: Director-General.
Age Limit: 45
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Education experience
- Being Rwandan by Nationality
- Masters degree in business-related discipline ie Business Administration, Finance, Financial management or accounting, management, economics or any other related field
- Bachelor’s degree in Commerce, Finance, Business administration, Accounting, economics, management or any other related field;
- Having ACCA, CPA(R) is an added advantage
- A minimum of 7 years overall combined accounting and finance proven progressive experience as a professional accountant/finance expert in financial management field with at least 4 years at managerial level as line manager/Supervisor in a Finance Department/unit in a recognized Finacial institutions
Job Purpose
- To provide leadership and ensure the provision of sound financial management in compliance with Central Bank of Rwanda and all applicable regulations.
- Demonstrate strategic thinking for the formulation of the overall business strategy and ensure the organization remains on track for the achievement of financial targets.
- Responsible for providing advice in all finance matters to ensure that the Cooperative runs its business in accordance with the best accounting principles and relevant financial rules and regulations.
- Continuously improve financial management practices and grow business, working within the resources, and agreed budgets.
Skills& knowledge
- Excellent ICT skills and super user skills in finance packages
- Knowledge of International Financial Reporting Standards (IFRSs) and International Accounting Standards
- Significant managerial experience;
- Knowledge of the industry (financial sector) or Banks;
Personal attributes
- Strategic thinking skills
- Demonstrate leadership abilities
- Good Judgment and decision making skills
- Motivated by professional rather than personal concern
- Persistent when faced with difficult problems or challenges
- Remain calm in stressful situation
- Confident
- Integrity
- Diligent
- Attention to details
Key responsibilities
A. Strategy formulation
Work in close liaison with the Director-General and Board of Directors to develop overall short and long-term business strategy.
Create and present several scenarios that translate the business strategy into actionable business objectives demonstrating a thorough knowledge of business and financial fundamentals
Translate the business objectives into annual business targets and coordinate the development of realistic business plans and budgets that meet business targets.
Continuously monitor attainment of business objectives and prepare timely Board reports that track financial objectives and recommend appropriate interventions for Board approval
B. Reporting
- Prepare and present, for the approval of the Board of Directors an annual budget, other budgets, financial plans, business plans, feasibility studies, investment memoranda, and all other financial and business documents as may be required.
- Duly prepare and present to the Board of Directors timely and accurate financial statements and reports.
- Oversee the preparation of the SACCO’s financial performance review and budget execution report on a monthly basis and ensure that these are presented accurately and on time.
- Comply with all reporting, accounting, and audit requirements imposed by the Central Bank and the Government of Rwanda.
- Supervise the preparation of full and accurate annual accounts including taxation, dividends, and annual report.
C. Controls
- Ensure security and proper utilization of the SACCO’s financial resources and safeguard the SACCO’s assets from loss arising from fraud or error.
- Implement continuous financial audit and control systems to monitor the performance of the SACCO, its flow of funds, the adherence to the budget, expenditures, income, cost of sales, and other budgetary items.
- Alert the Director-General regarding any irregularity, lack of compliance, lack of adherence, and any other problems whether actual or potential concerning the financial systems, financial operations, financing plans, accounting, audits, budgets, and any other matter which could or does have a financial implication.
- Carry out all necessary actions to ensure that the SACCO meets its financial and legal obligations.
D. Cash Flow Management
- Maintain a working relationship and develop additional relationships with the government, banks, financial institutions and capital markets with the aim of securing funds necessary for the operations of the SACCO, the attainment of its development plans and its investments.
- Monitor budget expenditure against approved allocations and recommend measures or actions to ensure optimum utilization.
- Support the improvement and quality of the asset & liability portfolio.
E. Leadership
- Guide, lead and manage staff in the department in such a manner that promotes motivation, efficiency, mentoring them into leadership roles, and a high degree of discipline in all activities.
- Identify staff requirements, training gaps, changes, movements, and make the necessary recommendations to the HR Department.
- Regularly update the HR department on staffing and competency requirements and agree on annual staffing projections.
- Facilitate and support team leaders and other staff, keeping them focused on the institution’s mission.
- Ensure all staff in the department set annual performance targets in line with the institution’s business plan and avail continuous monitoring and feedback for performance-related decision making.
F. Operational and planning
- Develop policies and procedures that support the overall business strategy and ensure adequate communication.
- Contribute to the achievement of the SACCO’s business objectives by providing advice and guidance on financial strategy.
- Continuously review processes and recommend changes that increase overall efficiency and effectiveness
- Overall responsibility in ensuring compliance with operational procedures in the Finance Department
- Approval responsibility for all exceptional credit matters outside policy within the authorized limits
- Responsible for the entire business accounting, procedures, systems, documents, budgets, and key performance reports.
G. Budgetary Oversight
- Coordinate annual budgeting exercise for the entire organization and ensure budget controls and adherence
- Develop and control the SACCO’s annual operating budget to ensure that all financial targets are met and financial and statutory regulations complied with.
- Ensure cost-effective use of the institution’s assets and promote a culture of waste reduction;
H. Networking and Liaison
- Provide inter-departmental linkages ensuring harmonious work relationships.
- Participate and contribute fully as a member of the senior management team and in various committees for the common good of the organization;
- Represent the organization in the community; build a network of external contacts in the finance and Banking industry.
- Initiate and engage in all activities conducive to the financial health, the growth prospects, and the fulfillment of investment plans of the organization to the best ability and with the appropriate dedication of the time and efforts required.
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