Chief Financial Officer (CFO) Job at ASA Microfinance (Rwanda) Limited - Career Opportunity in Rwanda
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Vacancy title:
Chief Financial Officer (CFO)

[ Type: FULL TIME , Industry: Financial Services , Category: Accounting & Finance ]

Jobs at:

ASA Microfinance (Rwanda) Limited

Deadline of this Job:
31 July 2020  

Duty Station:
Within Rwanda , Kigali , East Africa

Date Posted: Friday, July 24, 2020 , Base Salary: Not Disclosed

Company Summary:
ASA Microfinance (Rwanda) Plc. is a subsidiary of ASA International which is a Public Limited Company, had been establishing Microfinance Institutions (MFIs) in different countries of Asia and Africa by playing role in poverty alleviation and women empowering and has extensive microfinance programs globally.
Currently, ASA Rwanda is operating through 30 branches in different corners of the country and simultaneously executing the following objectives:
• Creating opportunities which give access to credit to low-income entrepreneurs in rural areas of Rwanda;
• Contribute to the acceleration of sustainable development of Microfinance in Rwanda;
• Create employment opportunities and professional training for Rwandan Staffs.
In this regard, we are looking for competent, dynamic, self-motivated professional, highly-analytical, and possess excellent written and verbal communication skills staff to fill up the positions of Chief Financial Officer (CFO)
Job purpose:
An integral part of the ASA International management team. In charge of managing day to day financial management process, as well as providing strategic direction to ASAI management team. Emphasis on Reporting, Financing, Budgeting, Group Reporting Cohesion, Development, and Timeliness. .

Major Responsibilities:
• Financial Strategy, Risk Management, and Regulatory Requirements:
Plays a key role in the development of finance strategy for the Operation. Develop operating plans for Accounts, Payroll, Data Management, and Budgeting in collaboration with local and group finance and accounts team. Sets performance objectives for the team and creates annual execution plans. Works closely in securing resources required to align department activities to overall organizational strategy. Actively identifies and manages financial risks by overseeing ALCO and ALM with effective controls. Correspond to local regulations, laws, and taxes.
• Financial Management: Lead the development of the annual budget process. Liaise strongly and regularly with group budgeting prepared by the Budget team. Monitor annual planning and budgeting exercise of core funds. Coordinate budgets and forecast preparation. Seeks approval and guidance on the budget plan from Country CEO/MD and Group CFO. Manage and supervise treasury functions and investment portfolios in ASAI country level. Review lender documents, lender reporting.
• Financial Control and Reporting: Monitor teams for timely execution of process activities (e.g. processing vouchers, releasing payments, manage credits), and adherence to policy guidelines. Track progress against the execution plan and monitoring framework of each team. Review finance metrics, covenants, and incident reports. Take corrective action with CEO/MD to minimize deviations from plans. Provide key financial and management reports on time. Reviews and Signs off on timely Reporting Packs sent to Group. Manage the Statutory and Group Audit and Review process. Introduce efficient measures in Reporting.
• IT System Management: Closely work with IT team to ensure all financial reports are in order. Work to digitalize processes in the system and ensure a smooth transition into IT systems. Develop the system.
• Process Improvement and Knowledge Management: Periodically review and revise Finance Policies and Procedures to ensure consistency with standards and best practices. Collect feedback from team members and internal customers on the efficacy of activities. Identify opportunities to improve the effectiveness of processes across departments in order to continuously improve the quality of service. Apply internal control procedures to minimize risk. Participate in bi-weekly video conferencing with Group CFO on recent transactions, updates, progress, ideas, and issues.
• People Management: Identify, prioritize, and deploy action items for competency development of team members; Cascade department goals to individuals, allocate resources, and appraise performance against set targets. Guide on-the-job training for team members. Work closely with other departments. Identify, develop, and promote high performers in a team in order to build an efficient team.
Major challenges
• Need to work under constant time pressure to ensure all deadlines are met.
• Working with a different group of stakeholders and manage expectations.
• Manage dotted relations in the Group level.
Key performance indicators (KPIs)
• Maintain and Strengthen financial control in ASAI Countries
• Ensure flawless and timely audit completion at both statutory and group level
• Ensure on-time high-quality reporting for the Statutory and Group level.
• Diversify funding sources in country level and manage investor/lender relations
• Effectively comply with all fiscal stipulations
• Create or work towards new funding sources for business
• Preparation and Submission of Board and Audit committee documents on time
• Local Board reporting, presentations and board pack
Decision making
Decision was taken independently: Day to day operational issues on managing finance and accounts department of the respective operation
Decision referred to the Supervisor: On major strategic issues impacting on country and group profitability
Performance appraiser for this role: Managing Director in consultation with Group CFO
Additional responsibilities
• Special assignments by Board Chair/Executive Directors/Group Chief Financial Officer/Directors
Number of reporters: Direct: (Accounts Officer and Assistant Accounts Officer)
Indirect: (Branch Heads)
Salary and Allowances
Competitive salary compared to other MFIs
In-house Medical Insurance covering 90% of medical expenses for him/her and legal dependents.

Job Skills: Not Specified

• Graduated in Finance or Accounting (Bachelor’s Degree) but a Post-graduate Degree is preferred (Master’s Degree).
• Being a Certified Public Accountant (CPA) or fully completed ACCA with proofs.
• Proven working experience in similar positions not below five (5) years;
• Solid experience and having a certificate of Modern Applied Banking Software and MS Office particularly MS Excel;
• Having completed CPA / ACCA is a must.
• The ability of implementation of the group policy for the group reporting;
• Demonstrable ability to communicate, present and influence key stakeholders at all levels of the company, including executive;
• Proven ability to juggle multiple account management projects at a time, while maintaining sharp attention to details;
• Excellent listening, negotiation and presentation skills;
• Strong verbal and written communication skills;
• Possess excellent understanding of MFI, banking and financial regulations;
• Ability to work independently with minimal supervision, accept and discharge substantial responsibilities, prioritize work assignments, meet deadlines, and exercise professional judgment;
• Be Rwandan by Nationality.

Job Education Requirements: Graduated in Finance or Accounting

Job Experience Requirements: 5 years

Work Hours: 8


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Job application procedure
Applications should be addressed to the Managing Director of ASA MICROFINANCE (RWANDA) PLC located in KIGALI City, GASABO District, and Plot No. - 95, NTORA Village, KG 784 St. RUHANGO Cell, Gisozi Sector, Kigali, Rwanda.
Hard copies applications are accepted and submitted at the Head Office Reception of ASA Microfinance Rwanda Plc, or online application sent to with subject mention CFO / HRM Application not later Friday, 31st July 2020 at 5:00 PM. Only, shortlisted candidates to sit for written and verbal tests will be communicated within one week after.
“ASA International aims to attract and select a diverse workforce, ensuring equal opportunity to everyone, irrespective of race, age, gender, class, ethnicity, disability, location, and religion.
Qualified women are particularly encouraged to apply.”
Required Documents
• Cover Letter included the candidate’s expected salary;
• Detailed CV;
• Copy of Certificate, Diploma or Degree;
• CPA / ACCA Certificate (A must for CFO, not needed for HRM)
• Work certificates from previous employers;
• Any other document that may prove a candidate’s competency to the post;
• Copy of ID Card

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Job Info
Job Category: Accounting/ Finance jobs in Rwanda
Job Type: Full-time
Deadline of this Job: 31 July 2020
Duty Station: Kigali
Posted: 24-07-2020
No of Jobs: 1
Start Publishing: 24-07-2020
Stop Publishing (Put date of 2030): 24-07-2065
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