Trainee Finance at LAPO Microfinance Bank Limited

LAPO Microfinance Bank Limited is a pro-poor financial institution committed to the empowerment of low-income Nigerians through access to responsive financial services delivered on a sustainable basis. The institution was founded as a non-profit entity by Mr. Godwin Ehigiamusoe while working as a Rural Co-operative Officer in Delta State, Nigeria. In 2010, LAPO set up a microfinance bank and transferred the bulk of its microfinance operations to the new institutional vehicle.

LAPO Microfinance Bank Ltd., in partnership with the German AFOS Foundation, and the German Catholic Entrepreneurs Association (BKU) is implementing a project co-financed by the German Government to strengthen LAPO’s capacity to promote qualitative growth and efficiently manage the quality of its services. Focus is on ensuring efficient management of resources, personnel development as well as improving LAPO’s capacity to provide further training to other microfinance institutions.

We are firmly committed to providing equal employment opportunities. We encourage all qualified persons to apply for posted positions. All advertised positions shall be on the website until they are filled.

Job Title: Management-Trainee for Finance

Ref: LMGTF01
Location: Lagos

Institution & Project Program Professional Background
Lift Above Poverty Organization Microfinance Bank (LAPO) MFB Ltd. in partnership with the German AFOS Foundation, and the German Catholic Entrepreneurs Association BKU are implementing a project co-financed by the German Government to strengthen LAPO with regards to its capacity, to promote qualitative growth and to efficiently manage the quality of its services. The focus is on the building and expansion of efficient management and personnel development and on improving LAPO’s capacity to provide further training also to other microfinance institutions. Copied from: www.hotnigerianjobs.com

One of the main components of the project is the Trainee-Program.

It is designed to cover a period of twelve months shared between:

• On-the-job training (operations – Field, Branch, Region and Head Office) for about three months;
• Functional information and involvement in projects – about two months;
• Project Management and responsibility – about two months;
• Special training in the functional areas where the future job is planned – about three months;
• Formal training units in the form of seminars and workshops on relevant management skills – two months and continuous after the program.

The project is seeking to recruit a trainee for the Finance department.

Under the overall guidance and direct supervision of the Head of Department for Finance and Treasury the trainee is expected to rigorously complete the full Trainee-Program and acquire the relevant certifications.

The Trainee is expected to work in close collaboration with all the operation units of LAPO MFB within the prescribed timeframe and to support project delivery in areas and functions assigned.

Target of trainings
Next to the intensive academic trainings on general management, inputs on LAPO culture, strategy, structure and systems as well as on-the-job project management capacity building, the focus of professional training is to serve the following future responsibilities:

• To keep prompt, accurate and comprehensive accounting records of the bank and prepare all management accounts and reports for the use of executive management, auditors and regulatory bodies. Copied from: www.hotnigerianjobs.com

Focus areas of professional training

To be trained to perform the following duties and tasks:

• Supervise and coordinate the activities of regional and branch accountants
• Support the Chief Finance Officer in developing a robust financial strategy for the bank
• Supervise the preparation of the bank’s annual budget
• Supervise the preparation monthly financial report and annual accounts preparation
• Coordinate the conduct of the bank’s regular audits.
• Supervise and coordinate the activities of head office financial officers and financial assistants
• Prepare monthly and quarterly management accounts
• Prepare monthly key performance indicators reports
• Prepare monthly reports to CBN
• Prepare end of year management accounts for external audit
• Supervise branches book closure exercises and coordinate the entire audit process in liaison with the rest of the management staff in treasury, finance and accounts
• Handle tax matters and other statutory payments such as PAYE, VAT, WHT, Company Income taxes, etc.
• Manage the company’s funding requirements through regular preparation and review of cash flow statements.
• Monitor the company’s performance against budgets.
• Monitor and review the maintenance of the company’s accounting records including fixed assets register debtors and creditors listings and cash management records and to ensure accurate and timely updates.
• Review and assist the respective departments in the production of justification for all capital projects including calculations of return on investment
• Review bank and fund reconciliation movement in the reconciliation reports, and address or escalate issues that emerge accordingly
• Ensure the development and maintenance of robust financial data bases
• Promptly escalate issues of concern that may be observed in the course of financial reporting
• Perform other duties and responsibilities, as may be assigned by the Chief Finance Officer

Education qualification

• The ideal candidate must possess either Bsc or HND in Accounting from a reputable institution
• A post graduate degree and/or relevant professional qualification will be an added advantage

Other skills and competences

• Sound knowledge of best practices in financial management;
• Knowledge of relevant accounting packages;
• Knowledge of existing regulatory framework;
• Knowledge of industry and economic environment;
• Strategic thinking and analytical skills;
• Managerial and leadership skills;
• Integrity and firmness;
• Team building, people and conflict management skills;
• attention to detail and accuracy;
• strong communication skills;
• information and task monitoring;
• problem analysis;
• Sound mastery in the usage of computers and office software packages (MS Word, ppt., Excel, etc) and knowledge of spreadsheet and database packages, experience in handling of web based management systems;
• Organizational skills, secretarial and office management competences;
• Demonstrate corporate knowledge and sound judgment;
• Self-development, initiative-taking;
• Learning and sharing knowledge; encourage the learning of others.
• Accountable and transparent in all aspects of work;
• Readiness and ability to accommodate flexible working hours;
• Readiness to accommodate travels outside the regular work station (in particular travels to Benin City);

Ability and readiness to work with people of different nationalities and cultures

Experience

• Not relevant in the case of fresh graduates with the relevant academic qualifications; alternatively
• 0-3 years of work experience

Key performance indicators

• Timeliness in preparation of respective reports
• Timeliness in preparation of annual budgets
• Timeliness in conduct and completion of annual or other audits
• Degree of error in reports generated

Incidents of exceptions in the reports of internal and external auditors

Language: Fluency in English

Age limit: Between 25 and 30 years of age
Start Date: 1st April 2014
Duration of program 12 months

Remuneration
Salary: Competitive and based on qualification

Application Closing Date
5th of March, 2014

Method of Application
Interested and qualified candidates should
Click here to apply online