The Regional Finance Director – Africa1 will report to VFI Network Finance Director. The RFD will also have a matrix reporting relationship to VFI Regional Director – Africa3.
The Regional Finance Director, Africa1 will be a Board Member on each region MFI and will be a matrix manager of the MFI CFOs alongside their line manager, the MFI CEO. The RFD is responsible for ensuring:
Robust oversight of the financial performance, liquidity and funding requirements of the region MFIs
Effective communication of monthly financial performance and risks arising in region MFIs to VFI GC staff
Effective internal controls, policies, procedures, systems, reporting standards and best practices are implemented in region MFI finance departments
MFI CFOs and finance teams have the capabilities and competencies required
Strategic reviews are undertaken when MFI circumstances change and support is provided for the execution of any resulting transactions
Effective management of crisis events occurs so as to minimise losses.
Key Responsibilities
Financial oversight of MFIs
Serve as MFI Board member and attend (as Committee or Board member) the Board Audit and Risk Committee.
Encourage MFI integration with WV and MFI CFO and WV NO FD engagement.
Monitor MFI financial performance monthly through review and sign-off of MED reports and discussion of results with MFI CFOs and (Senior) Operations Director and provide narrative comments and rolling forecast for VFI reporting.
Internal controls, checks and reviews
Ensure that a robust internal control framework is established and effective in each MFI.
Ensure finance systems implementation and upgrade projects are prioritised and kept on schedule.
During in person visits to MFIs complete the review checklist which includes activities such as ensuring general ledger TB agrees to MED report, core banking system agrees to financial records and reviewing a selection of bank and other account reconciliations.
Funding of MFIs
Oversee the liquidity and funding needs of MFIs and ensure timely communications with funding providers (VFI and third parties).
Ensure the Global Lender Covenant Tracker is kept updated.
Assist MFI CFOs with the preparation of business cases to request debt or equity from VFI.
Capacity building, performance management and training
Model Christian leadership and VFI Core Values in all interactions.
Inspire and nurture the spiritual and professional development of MFI CFOs and MFI finance team members.
Participate with MFI CEO in setting annual MFI CFO performance plan and reviewing performance through the year.
Manage the performance of MFI CFOs jointly with MFI CEOs.
Strategic reviews, crisis response and ad hoc projects
Perform financial and strategic reviews of region MFIs including building financial models as required.
Provide financial analysis and/or data to (Senior) Operations Director and VFI GC Finance and other VFI GC departments as required.
Knowledge, skills and experience
Preferred
Master's degree in Finance, Accounting, Economics preferred.
ACCA or equivalent accounting qualification preferred.
At least 3 years experience as CFO, Finance Director, or equivalent role in a bank, commercial MFI and/or other regulated financial institution
At least 1 year experience participating to Supervisory Board meetings, ideally including Board Audit, Risk, ALCO committees - either as a Board Director, or as member of senior management
Impact investment relation management - especially microfinance-oriented - is desirable
Audit and/or consulting experience with regulated financial institutions is desirable.
People management experience in an international, matrix-managed organisation (including mentoring, coaching, directing and building capacity).
Effective trainer in financial policies, procedures and processes.
Required
Degree in finance or accounting or equivalent level of knowledge demonstrated through relevant experience.
Deep accounting, financial reporting, financial forecasting and financial performance and analysis knowledge and skills developed over a minimum 7 years.
Thorough knowledge and extensive experience (minimum 7 years) in the microfinance and/or banking sectors.
Understanding of balance sheet risk management including interest rate risk, liquidity risk and foreign exchange risk as well as bank funding processes and contracting.
Ability to analyse problems or options and recommend solutions.
Cross cultural sensitivity to engage with MFI staff and stakeholders across VFI global departments.
Flexibility with working hours to contact people within wide time zones.
Able to balance Christian values with commercial practices.
Good project management and organisation skills.
Able to simultaneously manage multiple priorities, projects and stakeholders
Strong communication and influencing skills in written and oral forms.
Able to manage staff virtually.
Knowledge of French will be advantageous
Languages and Travel
For non-English speaking countries: English fluency is required
Travel up to 25% of the time