Senior Financial Control Officer at Bosak Microfinance Bank Limited

Bosak Microfinance Bank Limited was incorporated in December 2009 with the business objective of providing financial service to micro clients who were excluded from the mainstream financial system. It commenced operations in June 2010 upon obtaining a Unit Microfinance Banking License from the Central Bank of Nigeria. It later obtained a State Microfinance Banking License in 2016. Bosak Microfinance Bank Limited’s financial inclusion effort focuses on promoting savings culture, access to credit facilities for income-generation purposes and reducing vulnerability to risk through micro insurance.

The Bank’s major strategic focus employs the group lending methodology in its operations with a leaning towards women. It believes in the commitment of women folk to work hard and help their families conquer poverty. As such, more than 95% of the Bank’s lending activities focuses on women. The success of the bank’s group lending activities largely depends on group solidarity and cohesion.

We are recruiting to fill the position below:

Job Title: Senior Financial Control Officer

Location: Ikeja, Lagos
Employment Type: Full-time

Job Summary

• Income Statement and Balance Sheet Review
• Weekly / Monthly Bank Reconciliations
• Preparing General Ledger Reconciliation
• Monthly Update of Fixed Asset Register
• Preparing Monthly Journals
• PAYE / WHT Remittances, Receipts documentation
• Raising Internal Memos
• Preparing Monthly Management Account
• Raising Monthly Journals

Key Responsibilities

• Financial Management: Oversee day-to-day financial operations, including accounts payable/receivable, payroll, budgeting, and financial reporting.
• Budgeting and Forecasting: Develop and manage the annual budget and financial forecasts. Monitor financial performance against budgets and provide variance analysis.
• Financial Reporting: Prepare and present accurate and timely financial reports, including monthly, quarterly, and annual financial statements, in compliance with relevant accounting standards.
• Regulatory Compliance: Ensure compliance with all relevant financial regulations, including Central Bank guidelines, tax laws, and other legal requirements. Prepare reports for regulatory bodies as required.
• Internal Controls: Implement and maintain robust internal controls to safeguard the bank’s assets and ensure the accuracy and reliability of financial information.
• Cash Flow Management: Monitor and manage the bank’s cash flow to ensure liquidity and optimize the use of funds.
• Audit Coordination: Coordinate with external auditors during financial audits, ensuring all necessary documentation and information are provided.
• Financial Analysis: Conduct financial analysis to support decision-making processes. Provide insights on cost control, profitability, and financial performance.
• Team Management: Lead and mentor the finance team, ensuring professional development and the effective execution of financial tasks.
• Collaboration: Work closely with other departments to provide financial insights and support business operations. Assist in the development of financial strategies and initiatives.
• Technology and Process Improvement: Identify opportunities to improve financial processes andsystems, leveraging technology to enhance efficiency and accuracy.

Qualifications

• A Bachelor's Degree in Finance, Accounting, Economics, or a related field.
• Experience in the banking or microfinance industry
• Professional certification in Accounting, such as ICAN or ACCA is compulsory.
• Proven work experience with a minimum of 5 years Banking experience
• Strong understanding of microfinance operations and regulatory requirements.
• Proven experience in budgeting, financial reporting, and financial analysis.
• Excellent leadership and team management skills.
• Strong analytical and problem-solving abilities, with a keen attention to detail.
• Strong knowledge of accounting regulations and procedures, including Generally Accepted Accounting Principles (GAAP).
• Proficiency in Microsoft Office Suite and accounting software.
• Understanding of banking and financial services business model and unit economics.

Requirements

• Strong understanding of accounting principles and finance
• Excellent analytical skills for interpreting financial data
• Experience with financial reporting and creating financial statements
• Attention to detail and accuracy in financial analysis
• Promptness in Posting of Transactions

Salary
N250,000 - N400,000 Monthly.

We offer the following Benefits:

• HMO
• Constant Training and Development
• Leave & Passage Allowance

Application Closing Date
7th April, 2025.