Head of Finance and Control

Key Responsibilities

1. Financial Reporting and Accounting

• Maintain the Bank's general ledger and ensure all financial records are complete, accurate and up to date.
  
• Prepare timely monthly, quarterly and annual financial statements and management accounts.
  
• Ensure appropriate accounting treatment for all transactions in accordance with applicable accounting standards and Bank policies.
  
• Review reconciliations, journals, schedules and supporting documentation to ensure financial accuracy and completeness.
  
• Monitor suspense accounts and ensure outstanding items are investigated and cleared promptly.
  
• Maintain appropriate financial records and documentation to support audit and regulatory requirements.
  

2. Budgeting, Planning and Financial Analysis

• Lead the preparation of the Bank's annual budget in collaboration with Management and Heads of Function.
  
• Prepare financial forecasts and periodic reforecasts based on business performance and changing assumptions.
  
• Monitor actual performance against approved budgets and provide meaningful variance analysis.
  
• Identify significant cost trends, financial risks and opportunities and recommend appropriate corrective actions.
  
• Provide financial analysis and commercial insights to support Management's strategic and operational decisions.
  
• Monitor the Bank's cost structure and promote effective financial resource utilization.
  

3. Regulatory Reporting and Compliance

• Prepare and submit accurate and timely financial and regulatory returns to the CBN, NDIC and other relevant regulatory authorities.
  
• Ensure regulatory reports are supported by accurate underlying financial records and reconciliations.
  
• Monitor changes in applicable financial reporting, tax and regulatory requirements and coordinate implementation.
  
• Maintain proper documentation and audit trails for all regulatory submissions.
  
• Respond promptly to regulatory queries relating to financial reporting and returns.
  
• Ensure the Bank remains compliant with applicable prudential, accounting and financial reporting requirements.
  

4. IFRS & Financial Reporting Standards

• Ensure the Bank's financial reporting complies with applicable IFRS requirements and relevant regulatory accounting guidelines.
  
• Coordinate the application of IFRS 9, including expected credit loss calculations, in collaboration with Risk & Credit.
  
• Review impairment provisions, loan-loss recognition and other significant accounting estimates.
  
• Ensure appropriate accounting treatment for financial instruments, investments, interest income, fees and other material transactions.
  
• Maintain appropriate accounting policies and procedures and update them when required.
  

5. Treasury Back-Office & Financial Controls

• Oversee the finance function's independent confirmation, accounting and reconciliation of treasury transactions.
  
• Ensure treasury transactions are independently confirmed and settled in accordance with approved procedures.
  
• Maintain clear segregation between treasury dealing, approval, confirmation, settlement and accounting activities.
  
• Reconcile bank accounts, investment balances, placements and related income accurately and promptly.
  
• Monitor treasury-related accounting entries and ensure all transactions are properly recorded.
  

6. Tax & Statutory Compliance

• Ensure timely and accurate preparation and filing of the Bank's tax returns and statutory obligations.
  
• Manage relationships with relevant tax authorities and professional advisers.
  
• Monitor applicable tax legislation and assess its implications for the Bank.
  
• Ensure appropriate accounting for tax liabilities, provisions and statutory deductions.
  
• Provide Management with advice on tax exposures, compliance requirements and potential financial implications.
  

7. Audit and Financial Governance

• Coordinate the Bank's external audit process and ensure timely provision of requested information and supporting documentation.
  
• Liaise with Internal Audit and other control functions on financial control matters.
  
• Track financial audit findings and coordinate implementation of agreed corrective actions.
  
• Ensure appropriate financial controls are established over income, expenditure, assets, liabilities, payments and financial reporting.
  
• Identify weaknesses in financial processes and recommend improvements.
  

8. Financial Control and Asset Protection

• Establish and maintain effective controls over the Bank's financial resources and assets.
  
• Review expenditure and payment processes to ensure compliance with approved budgets and delegated authority.
  
• Monitor financial transactions for unusual, inaccurate or unauthorized activity and escalate concerns appropriately.
  
• Ensure appropriate reconciliations are performed and independently reviewed.
  
• Safeguard the integrity of the Bank's financial information and records.
  

9. Management & Board Reporting

• Provide accurate and timely financial reports to the MD/CEO, Management and the Board.
  
• Present financial performance, budget variances, liquidity-related financial information and other key financial indicators as required.
  
• Provide financial analysis to support strategic planning and business decisions.
  
• Highlight significant financial risks, emerging trends and areas requiring Management attention.
  
• Support the preparation of Board and committee papers relating to financial performance and control.
  

10. Team Leadership and Development

• Lead, supervise and develop the Finance/Accounts team.
  
• Establish clear objectives, performance expectations and controls for finance personnel.
  
• Ensure appropriate segregation of duties within the Finance function.
  
• Build technical capability in financial reporting, regulatory returns, reconciliations and financial controls.
  
• Promote a culture of accuracy, accountability, integrity and continuous improvement.
  

Requirements

• BSc or HND in Accounting, Finance, Economics or another relevant discipline.
  
• ACA, ACCA or ANAN membership is required.
  
• CITN membership or relevant tax qualification is desirable.
  
• An MBA, MSc or other relevant postgraduate qualification is an advantage.
  
• Minimum of 10 years' relevant professional experience, with at least 5 years in banking, microfinance, financial services or another regulated financial institution.
  
• At least 2 years' experience in a financial management or supervisory role.
  
• Demonstrable experience preparing CBN and/or NDIC regulatory returns is essential.
  
• Experience with IFRS, IFRS 9, financial controls, budgeting and external audit within a regulated financial institution is strongly preferred.
  
• Financial reporting and accounting
  
• Regulatory reporting and compliance
  
• IFRS and IFRS 9
  
• Budgeting and financial planning
  
• Financial analysis and management reporting
  
• Internal financial controls
  
• Bank and investment reconciliations
  
• Tax and statutory compliance
  
• Audit coordination
  
• Treasury accounting and control
  
• Risk awareness and financial discipline
  
• Accuracy and attention to detail
  
• Commercial and analytical judgement
  
• Team leadership and people development
  

Performance Measures

• Accuracy and timeliness of monthly, quarterly and annual financial reports.
  
• CBN, NDIC and other regulatory returns submitted accurately and within required deadlines.
  
• Minimal or no material regulatory queries arising from financial reporting.
  
• General ledger and bank reconciliations maintained accurately and up to date.
  
• Suspense and reconciling items investigated and cleared within agreed timelines.
  
• Budget performance monitored with significant variances identified and explained promptly.
  
• Effective application of IFRS and IFRS 9 requirements.
  
• Timely and accurate tax and statutory compliance.
  
• Successful completion of external audits with timely resolution of financial audit findings.
  
• Effective operation of financial controls with no material control breaches attributable to the Finance function.
  
• Accurate accounting and independent reconciliation of treasury transactions.
  
• Protection and proper stewardship of the Bank's financial resources.
  

Benefits

An opportunity to establish and lead a robust finance and control function within a growing Microfinance Bank, with significant responsibility for financial integrity, regulatory reporting, budgeting, financial planning and sound financial governance. The role offers meaningful exposure to strategic financial decision-making and a competitive compensation package aligned with the responsibilities and performance expectations of the position.