Head of Finance and Accounts at Praise Microfinance Bank

Praise Microfinance Bank is a proposed Microfinance Bank in Benin City. The promoters have commenced the process of obtaining operating license from the Central Bank of Nigeria (CBN) as a Microfinance Bank. Praise Microfinance Bank is an offshoot of Mipraise Multipurpose Cooperative Society Limited. The Cooperative Society was registered on 2nd September, 2014 to provide Microfinance services for Nano, micro, small and medium scale enterprises in Edo State. Mipraise Multipurpose Cooperative Society Limited has built a resounding success on excellent service delivery in a uniquely customer friendly environment through professional staff, leveraging on world-class technology.

We are currently recruiting to fill the management position below which is required as part of our licensing process:

Job Title: Head of Finance and Accounts

Location: Benin, Edo
Employment Type: Full-time

Details

• The main purpose of this position is to assist in the delivery of company-wide financial management, treasury management, accounting, budgeting, performance analysis, payroll, fund raising, and financial reporting function.
• The successful individual will proactively identify issues, opportunities and solutions to ensure effective budgeting, assists in strategic planning and forecasting, financial performance and sustainability while ensuring the accurate capturing and timely reporting of all financial activities.

Key Responsibilities

• Full responsibility for the production of monthly management accounts
• Review and approve all reconciliation and schedules such as bank statements, schedule of accrued charges, prepayments etc.
• Consolidation and reporting to senior management
• Take ownership of any fund raising activity
• Provide strategic support to the CEO
• Preparation of monthly budgetary control and performance.
• Preparation of overall annual budget of the bank, including the assumptions and the ratios.
• Treasury management and monitoring
• Preparation of budget/financial plan & forecast.
• Assist in the preparation and review of all monthly and quarterly reports for Board, Shareholders, Regulatory bodies etc.
• Follow up on budget implementations and limits as it relates to each department. Investigates variances between budget and actual.
• Perform financial control functions.
• Statutory reporting and year-end duties
• Develop and manage liquidity management tools
• Preparation of monthly management accounts and other financial accounts
• Assist Senior Managers in financial management and reporting activities.
• Conduct finance audit periodically and recommend improvements.
• Develop financial policies and procedures for operational efficiency.
• Develop and maintain financial statements for future reference.
• Monitor and manage expenses within the established budget.
• Implement a structured and robust Finance department
• Work with External Auditors for regular audit of account.

Qualifications

• Minimum of Degree in Accounting / Finance / Economics
• Minimum of 5 year Professional Experience
• Minimum of 3 years of experience in Finance Department of reputable microfinance bank
• ICAN / ACCA / CFA Qualified
• Ideally MCP certified

Skills / Knowledge:

• Highly proficient with the use of MS Excel, MS Powerpoint & MS Word;
• Good knowledge of IFRS, Management Accounting and reporting standards
• Good knowledge of CBN regulatory reporting
• Must have a good grasp of technology
• Attention to detail and strong analytical skills
• Excellent communication, presentation and organisation skills
• Strong Stakeholder Management and team player.
• A self-starter with the ability to work independently
• Financial services or Fintech experience will be beneficial
• Prior experience working with BankOne Core banking software is an advantage

Remuneration
Highly competitive

Application Closing Date
28th May, 2023.