Ascenix Consulting Limited - Our client, a leading and foremost switching company in Nigeria licensed by the CBN and renowned for delivering seamless, secure and scal-able electronic payments and digital commerce solutions is recruiting to fill the position below:
Job Description
- The Chief Financial Officer (CFO) is responsible for the company’s financial strategy, stewardship, regulatory financial compliance, and value creation.
- The role ensures financial resilience, regulatory credibility, and disciplined growth in a high-volume, mission-critical payments environment.
Responsibilities
Financial Strategy & Leadership:
- Develop and execute financial strategy aligned with corporate objectives and CBN requirements.
- Advise the CEO and Board on pricing, investments, capital allocation, and growth initiatives.
- Lead long-term financial planning and annual operating plans.
Financial Management & Reporting:
- Oversee budgeting, forecasting, management accounts, and statutory reporting.
- Ensure timely and accurate monthly, quarterly, and annual financial statements.
- Maintain strong financial controls and audit-ready records.
Regulatory & Statutory Compliance:
- Ensure compliance with all CBN financial reporting and prudential requirements.
- Oversee tax compliance (CIT, VAT, WHT, PAYE) and statutory filings.
- Act as primary liaison with auditors, regulators, and tax authorities.
Treasury, Liquidity & Settlement Oversight:
- Manage cash flow, liquidity, and funding requirements.
- Oversee settlement accounts, float management, and reconciliations.
- Ensure timely settlement to ecosystem participants.
Risk Management & Internal Controls:
- Implement strong financial risk management and internal control frameworks.
- Monitor fraud losses, revenue leakage, and chargeback exposure.
- Ensure timely closure of audit findings.
Commercial Finance & Unit Economics:
- Support pricing models, contract reviews, and negotiations.
- Track profitability by product, rail, and customer segment.
- Drive cost optimization and efficiency.
People & Governance:
- Lead and develop the Finance team.
- Support Board governance through Audit & Risk Committee engagement.
- Promote ethical conduct and financial discipline.
Key Performance Indicators (KPIs)
Financial Performance:
- Revenue growth in line with Board targets
- EBITDA / Net profit targets achieved
- Cost-to-income ratio improvement.
Financial Reporting & Controls:
- Monthly close within agreed timelines
- Zero material audit adjustments
- Timely closure of audit findings.
Regulatory & Compliance:
- 100% on-time regulatory and tax filings
- Zero material regulatory breaches.
Treasury & Settlement:
- Liquidity adequacy maintained
- ≥99% settlements completed within SLA
- Reconciliation breaks resolved within agreed timelines.
People & Governance:
- Finance team performance and retention targets met
- 100% compliance and ethics training completion.
Required Qualifications and Experience
- Bachelor’s or Master’s Degree in Finance, Accounting, Economics or related fields.
- 10+ years in technology leadership roles, with at least 5 years in payment processing, payment gateways, or financial technology.
- At least 5 – 8+ years in senior financial leadership within payment processing, payment gateways or financial technology.
- Expertise: Strong knowledge of CBN regulations and Nigeria’s payments ecosystem.
- Certifications (Preferred): ICAN, ACCA, CPA, CFA.