Chief Financial Officer Job Opportunity at FINCA Tanzania September, 2018 - Ajira Tanzania

Posted by | September 11, 2018 | Jobs In Tanzania

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Chief Financial Officer, FINCA Tanzania
Job Description

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FINCA Microfinance Bank in Tanzania, one of 20 subsidiaries of FINCA Impact Finance, started its operations in 1998 in Mwanza. It has since then extended throughout the country, currently operating 26 branches in 17 regions in the country. FINCA Microfinance Bank now serves more than 120,000 active clients countrywide who are served by over 700 staff countrywide.

The Chief Financial Officer (CFO) is directly responsible for managing all finance and accounting activities of FINCA Tanzania, and supervises all its finance staff. S/he will ensure that the finance activities of FINCA Tanzania will support FINCA Tanzania in pursuing its mission with a minimum of risk and a maximum of efficiency. As a member of the Management Team/Board, s/he shares responsibility for the overall performance and activities of FINCA Tanzania, and participates in making decisions on material issues.

ESSENTIAL DUTIES include the following. Other duties may be assigned.

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Manage generation of financial statements according to local accounting standards
Manage timely reporting to relevant local authorities (central bank, tax office, etc.)
Manage timely reporting to F/I and hub
Analyze financial data and develop financial analysis as a key management tool with the aim of optimizing FINCA Tanzania’s activities: identify risks, inefficiencies, negative tendencies, and propose measures that reduce risks, improving efficiency, and reverse negative tendencies
Create/modify procedures such that they are low-risk and efficient
Ensure compliance of FINCA Tanzania with financial covenants in agreements with creditors and donors
Create cash flow forecasts
Ensure availability of sufficient resources for lending in the required currency
Manage all financial transactions with creditors, banks, donors
Manage the planning and budgeting process of FINCA Tanzania
Act as the coordinator and main contact person with external auditors
Keep all Management Team/Board members informed about relevant issues/developments in FINCA Tanzania’s finance activities and department
Participate/vote in decision-making (with Management Team/Board Members) on relevant “Finance” and “Non-Finance” issues
Manages relationships with all Lenders, both local and external, in concert with the CMG Team in HQ.
Manage the ALCO Process as the principal representative of the local subsidiary.

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Supervise all finance staff of FINCA Tanzania. For finance staff located in branches, the CFO retains the “professional responsibility”, whereas the “administrative responsibility” is transferred to the branch manager
Responsible for hiring/evaluating all finance staff (for branch employees: professional responsibility only; administrative responsibility is with branch manager), and their dismissal, if necessary
Assess the training requirements for the Finance Department as a whole and for its individual employees, and develop a capacity building plan for the Department and its individual employees
Preparation of staff to assume management positions
Conduct performance evaluations of the staff reporting to him/her and verify that the supervisory personnel also perform evaluations of their staff in a timely manner according to established procedure


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Create/develop appropriate reports: financial ratios; liquidity report; currency gap report; various credit reports; breakdown by branches/regions; breakdown by products; plan-fact comparison; historic development; other as required/appropriate

Ensure compliance of FINCA Tanzania’s finance activities with the Charter/bylaws of the subsidiary; FINCA and subsidiary policies, procedures, plans and agreements; decisions of subsidiary governing bodies as well as headquarter and regional office supervisor(s); maintain good coordination with regional office, headquarters, and governing bodies

Present relevant “Finance” issues to the Management Team/Board for information, discussion, decision making


Subsidiary Chief Executive Officer

Subsidiary Chief Operations Officer

Global Chief Financial Officer

Subsidiary finance team

Job Requirements
Education & Experience
Master’s Degree in Business, Finance, Economics, Management or Marketing (or equivalent work experience)
CPA, or Chartered Accountancy qualification (desirable)
Commercial banking experience (a minimum of 5 years is required, more – desirable)
Experience working in Tanzania (required)
Language Skills: Fluency in English


Availability and willingness to travel up to 25% of the time


Ability to travel in economy class when traveling by air or rail.

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