Job Purpose
Reporting to the CEO, the Chief Finance Officer role would develop, implement and control the Bank’s financial strategies. The CFO is to achieve cost-effective utilisation of the Bank’s financial resources and maximise the Bank’s return on investment. The role is also to provide overall supervisory and day to day running of the finance department and provide a lead role in capital raise and lending strategy development and roll-out.
Roles and Responsibilities
Strategy Formulation and Implementation
· Works with other members of the executive team to develop, finance and implement DBG’s growth initiatives and objectives including new offerings
· Develops strategic financial initiatives for DBG that will assist in achieving the board’s objectives
· Works with leadership to develop strategies for effective mobilisation and utilisation of financial resources for optimal return on investment
· Ensures the delivery of effective financial decision-making support to the business and its management and oversees the development and execution of an effective financial strategy to achieve optimal returns on investment
· Provides strategic financial management and leadership support across the business, in line with the overall corporate strategy
· Develops, updates and implements finance and tax strategies, policies and processes
Finance Planning and Budget Preparation
· Initiates and co-ordinates the formulation of business plans and annual budgets, and monitors progress towards their achievement
· Engages Executive Management and the appropriate Board Committees to develop short, medium, and long-term financial plans and projections for DBG
· Develops and utilises financial models and activity-based financial analysis to provide a basis for investment decisions and business planning
· Provides advice on liquidity, investment and financial asset management
· Ensures appropriate investment policies for the optimal investment of the DBG’s investible funds
· Manages DBG’s treasury assets to achieve optimal sourcing, application and growth of funds
Finance Operations
· Develops and implements a sound accounting framework in compliance with statutory provisions
· Develops and implements a robust and reliable financial reporting system in compliance with statutory requirements
· Ensures proper maintenance of the financial records/Books of Accounts of DBG
· Ensures that the annual financial statements and statutory reports are prepared timely, accurately and in accordance with standards and regulations
· Ensures DBG’s statutory obligations are fulfilled in an efficient and effective manner
· Provides management information of a financial nature and its interpretation for effective decision making to maximise returns on business
· Monitors and controls revenue and expenses (opex and capex) to ensure operational and financial efficiency
· Approves payrolls along with the Human Resources Department to facilitate payment to staff
· Drives a cost-saving culture across all areas of DBG
Stakeholder and External Relations
· Maintains effective engagement with shareholders of DBG
· Liaises with external and internal auditors; and ensures the annual and/or periodic audits are seamlessly carried out
· Develops and manages key relationships with relevant external bodies/contacts e.g. regulatory organisations, auditors, solicitors, banks etc. to facilitate effective DBG’s operations
· Liaises with investors to ensure value is maximized
· Works with the Investment Teams to identify opportunities and manage the investment cycle with investee organisations.
People Management
· Oversees the activities of all units within the Finance Team, including Corporate Finance, Financial Reporting, Treasury Management and Investor Relations
· Develops capability of subordinates towards the achievement of their own performance targets
Education and Experience Required:
· Extensive post-graduation experience in the Development Finance or Financial Services sector, with at least 8 years’ experience in an Executive Management role
· A degree in Accounting, Finance, financial management or related discipline from a reputable institution
· Relevant professional certifications & membership professional associations in Ghana or abroad is required (e.g. ACCA, CA, CFA, etc.)
· Experience in Development Finance or Banking sector within Africa is an advantage
· Evidence of strong industry/sector participation
· Evidence of excellent leadership, goal achievement, stakeholder engagement, professionalism, networking, and collaborative skills.
Our client is a financial services institution with the objective of increasing access to finance for Ghanaian enterprises, particularly small and medium enterprises (SMEs). Our client also provides wholesale financing/lines of credit and partial credit guarantees to eligible financial institutions.