CHIEF FINANCIAL OFFICER
Location : Lusaka
Reports to : Chief Executive Officer
Minimum Qualification : Full ACCA, 5 years’ working experience preferably in Banking/ Microfinance environment
The Company
Agora Microfinance Zambia Limited (AMZ) is a licensed microfinance lending company that currently operates in the Western, Copperbelt, Muchinga and Central provinces of the country. The mission of AMZ is to ‘Contribute to the economic well-being of the poor through effective provision of appropriate financial services.’
Job Overview
The Chief Financial Officer (CFO) is responsible to the Chief Executive Officer (CEO) for all financial matters and for the establishment of company-wide financial and administrative objectives, policies, programs, and practices that insure AMZ of a continuously sound financial structure. S/He controls the flow of cash through the organization and maintains the integrity of funds, securities and other valuable documents.
Duties and Responsibilities
Head and supervise the Finance department of AMZ. Supervise the production of the annual budget for AMZ; review, refine and implement the system for the strict control of and adherence to the budget, and report on the outcome of the budget to the Board through the CEO. Develop and implement a financial plan, including cash-flow projections, which will enable AMZ, while complying with all regulatory requirements (liquidity, etc) to maximize its balance sheet exposure, minimize exposure to risk and promote earnings potential to achieve its objectives and mission. The performance of the CFO will be based on results to be measured against established targets and set deadlines incorporated within the approved financial plan. Lead the preparation of the financial statements of AMZ, including annual and quarterly financial reports. Assess and implement improvements in AMZ’s accounting and management information system Review and implement improvements in the budgeting and planning process. Advise the CEO and the Deputy CEO on costing systems and develop/establish appropriate systems for apportioning overhead costs to the various profit/cost centers according to services rendered. Examine the corporate expenditure structure and suggest areas where cost reduction can be made without affecting operations adversely. Approve all agreements concerning financial obligations, such as contracts for products or services and other actions requiring a commitment of financial resources. Responsible for the financial aspects of real estate transactions and executes bids, contracts and leases. Provides insurance coverage as required. Suggest measures to improve earning capacity through both traditional sources and new avenues. Review AMZ treasury function and redesign/implement it as necessary to ensure consistently adequate liquidity in day-to-day operations as well as maintaining daily balances. Ensure that all legally mandated reports, including the annual financial statements, are produced on time and are of an acceptable standard. Develop and implement a management development plan to ensure that the financial functions within the Department have trained and experienced personnel Supervise the preparation of budget and accounting manuals. ORGANIZATIONAL RELATIONSHIPS:
Internal Contacts:
Directly accountable to the CEO and the board of directors through the CEO for the performance of all responsibilities related to financial management and administration. Provides reports on company finances as requested by the CEO and the board of directors. Departmental Managers for consultation and necessary advice on financial control and accounting systems and also on budgets, forecasts, budget monitoring and other related accounting matters and to ensure compliance with internal financial controls. Finance Department staff for supervision and direction. External Contacts:
Commercial and other bankers for operation of AMZ’s credit facilities and bank accounts. External Auditors for co-ordination of statutory audits and any other audit or special audits as may be required including finalization of year-end audit. Suppliers/Creditors/Debtors for payments and disbursements. Existing and potential lenders to bridge funding gaps Professional firms, Institute of Accountants of the country and CFOs and Senior Accountants in other companies in order to keep abreast of developments in the profession. Micro-finance institutions, other financial institutions and commercial banks to keep abreast of developments in the finance sector. Central bank for co-ordination on regulations for the microfinance industry. National Association of Micro-finance Institutions (AMIZ) for co-ordination and consultations on developments in the MFI sector. Sharing is Caring! Click on the Icons Below and Share