Chief Financial Officer (CFO), FINCA Tajikistan

Job Announcement

FINCA’s network of 20 community-based microfinance institutions and banks use Fintech to expand financial inclusion, offering innovative, responsible and impactful financial services to low-income clients.

 

FINCA Tajikistan was founded in 2003 as a non-profit organization devoted to expanding financial inclusion to low-income entrepreneurs. Operated by a team of dedicated employees, FINCA Tajikistan first specialized in providing agricultural loans to rural borrowers. Since then, the microfinance institution has continued to develop innovative financial products and services while delivering a double bottom line of profitability and positive social impact. The institution now serves Dushanbe as well as the northern and southern regions of the country.

 

FINCA Tajikistan has become a leader in the microfinance sector in Tajikistan by fulfilling the FINCA Impact Finance purpose of being an unconventional, community-based financial institution that profitably and responsibly provides innovative and impactful financial services to enable low-income individuals and communities to invest in their futures.

 

CFO Role Purpose

Reporting directly to Chief Executive Officer, the Chief Finance Officer (CFO) is responsible for the planning, implementation, managing and day to day of all the finance and accounting activities of the subsidiary. The CFO supports the subsidiary to reach the financial goals, focusing in cost reduction, profitability, liquidity, compliance with regulatory requirements and the efficient use of Subsidiary’s assets. The CFO also ensures alignment of all financial decisions with the mission and operational objectives. As a member of the Management Team, the CFO shares responsibility for the overall performance and activities of FINCA Tajikistan and participates in making decisions on material issues.

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

  • Manage timely and accurate reporting, consolidation, and generation of financial statements, according to local and international accounting standards. Reporting includes monthly financial, reporting to relevant authorities, and lenders and donors.
  • Provide expertise, and manage reporting pack to head office according to IFRS, financial analysis and reports required for the optimization of the subsidiary activities and to guide key management decisions identify risks, inefficiencies, negative tendencies, and propose measures that reduce risks, improving efficiency, reverse negative tendencies.
  • Create and modify regulations, processes and procedures for finance activities to reduce risk and improve efficiencies.
  • Ensure compliance of the finance activities with the Charter/bylaws of the subsidiary; network and local policies, procedures, plans and agreements; decisions of affiliate governing bodies as well as headquarter and regional office supervisor(s).
  • Ensure compliance of the organization with financial covenants in agreements with creditors and donors.
  • Audit, Risk and Compliance management
  • Treasury and liquidity management
  • Planning, budgeting (together with the Management Team)
  • Participation in general management of the Subsidiary
  • Overseeing the procurement process
  • Provide leadership, management, and strategic direction for subsidiary employees, and cultivate a high-performance working environment, sense of belonging (“team spirit”), and affinity to Headquarter mission and brand values among the work force.

Job Requirements

Qualifications

  • Degree in Accounting with CPA/ACCA or Chartered Accountancy Equivalent is required.
  • Master’s Degree in Business, Finance, Economics, Management or Marketing is preferred.

Experience

  • At-least 5 years of experience is required.
  • Exposure working in the region is an asset, international experiences is an asset.
  • Extensive experience in best practice financial management of a company, desirably a financial institution.
  • Experience working for the “big 4” audit firms is an asset.
  • The individual requires highest standards of attention to details, strong analytical skills and knowledge of accounting, financial and taxation standards and appropriate software.
  • Proven experience with ALCO.

 

Knowledge and Skills

  • Demonstrates knowledge of IFRS Standards specifically those relevant to Financial institutions including but not limited to IFRS 9 and IFRS 16, and the Conceptual Framework.
  • Strong knowledge of Financial Management principles.
  • Strong command of accounting software.
  • Risk Management.
  • Knowledge of Commercial orientation / business acumen.
  • Tax Planning.
  • Managing performance of team.
  • Planning and organizing skills.
  • Decision-making skills.
  • Negotiation, influencing skills.
  • Excellent Analytical and Reporting skills.
  • Strong Communication skills.
  • Strong command of Microsoft suite.

 

Language Skills:

  • Fluency in English required.
  • Knowledge of Russian and Tajik preferred.

 

Travel requirements

  • Availability to travel 40% of the time.

 

Physical Demands

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

How to apply

Interested candidates can apply in the Careers section via the link https://www.fincaimpact.com. Only online applications will be considered. The deadline for accepting applications is April 9, 2021.