Opportunity Bank of Malawi , a licensed commercial
microfinance bank in Malawi, is focused on transforming the lives of the
economically marginalised through access to financial services.
Opportunity Bank Malawi is a member of the Opportunity international Network,
an International coalition of Christian organisations committed to serving the
poor.
Opportunity Bank Malawi is seeking an energetic, aggressive and self-motivated
individual to joint its team to work in the position of Chief Financial
Officer- CFO)
Will report to the Chief Executive officer (Dotted
lines to Global CFO).
To provide leadership and direction in finance management treasury and
accounting functions and activities and ensure that these are run effectively
and efficiently to provide a high service quality and finance management
expertise, To establish and enhance overall financial controls in order to
ensure profitability of OIBM while ensuring compliance with locally accepted accounting
principles, bank policies and procedures, tax and banking laws and regulations,
to manage the money market and foreign exchange functions in manner that
ensures a positive return, To promote OBM’s core value of stewardship
throughout the organisation and staff
To lead management in preparation and management of budgets (income and
expenditure and cash flow) and financial projections , Ensure budget control
policies, systems and procedures are properly implement and practiced, Provide
OBM management team with a standard format and tool for preparing and
controlling the annual budget that includes clear and appropriate lines of
authority to enable better decision-making, St and monitor capital and fixed
assets budgets including office equipment, building as an expansion project,
Set and monitor income forecasts for business including client volumes, pricing
etc, Set and monitor other departmental budgets including payroll, branches,
IT, marketing, stationery and printing telecommunications and transport,
Prepare annual budget projections based on input from OBM management and from
shareholder representatives, Oversee payroll processing function to ensure pay
and benefits are accurately calculated and proper
deductions are made
Ensure timely and accurate financial and management reports that assist in
monitoring and actual financial position of OBM as compared with projections,
Prepare timely, accurate and reliable consolidated financial and management
reports including balance sheet, profit and loss and cash flow statement on an
annual, quarterly and monthly basis, Provide timely and accurate monthly
variance analysis reports of actual expenditure against budget by Head Office
function and branches, Review expenditures to ensure compliance with budgets and
notify appropriate executive(s) in the event expenditures exceed budget, Work
with managers to understand source of excessive costs and to develop
cost-cutting measures to drive efficiencies in the bank, Coordinate and ensure
the availability of financial reports, statements and documentation to both
internal and external auditors, Prepare and present to OBM board and management
reports on OBM’s financial position,
Highlight critical areas of the financial reports and statement document
documentations for managements review and action
Ensure compliance with all central bank requirements – Prepare monthly capital
compliance reports, Review monthly submittals to central bank for completeness
and accuracy,
Ensure wise and prudent management of OBM funds – Develop appropriate
subsystems to manage and administer OBM funds, Manage OBM’s investment
portfolio and risk-taking activities including interest rate and liquidity
exposure, interbank exchange exposure and govt securities trading, Consult with
management in recommending a general risk parameters, overall trading position
limits and hedging/trading strategies, Plan and provide for OBM’s short-term
working capital and medium and long-term funding requirements, Review and
recommend investment of deposits and idle funds (stocks and high yielding
investments0, Keep abreast of the market deposit rates and negotiate best rates
with OBM depository banks, Receive and hold in authorised accounts all funds
due to OBM from authorised sources, Keep complete and accurate accounts of
receipts and disbursements, Monitor cash movement by ensuring timely and
accurate bank reconciliation and other reconciliations
against cash position report, Manage the reserve position of OBM as well as
other regulatory requirements related to funding operations, Approve invoices
and checks prior to signature to ensure security of bank funds, Money market
and foreign exchange dealing – manage the money market and foreign exchange
functions in a manner that ensures a positive return on investments and
achieves targets,
Obtain necessary financing for the bank – Build relationships with local banks
for lines of credit and term loans, build relationships with regional
investment funds
Act as OBM company secretary – Ensure all reports and papers for the OBM board
are prepared and distributed prior to each board meeting, Ensure board minutes
are prepared in an accurate and timely manner n distributed to the board,
Perform other tasks as needed in position of company secretary
Responsible for people management of the dept – Responsible together with Human
Resources Dept, for overall people management in the dept including
recruitment, induction, development and training, performance appraisals,
career progression, disciplinary action and staff morale and motivation,
develop performance standards for each individual and provide ongoing feedback
on performance, Effectively manage poor performance and disciplinary
management, Assist in training and development of department staff, Relay
training needs of staff to HR dept and work together with HR to develop
appropriate training programmes, Ensure that staff are motivated and
organised to exceed performance targets, and provide frequent feedback to human
resources regarding employee management, Ensure clear division of roles and
responsibilities amongst departmental staff, Communicate with Human Resources,
dept to develop clear and comprehensive job descriptions and performance
standards for all branch staff
Actively promote a positive cost-oriented management and staff attitude through
various education forums in line with OBM’s core value of stewardship, develop
and maintain own knowledge and expertise, Keep current on developments in
banking and financial institutions especially micro finance sector Take
opportunity for self-development in relevant subjects and topics, Perform other
duties as determined by the CEO and Board whenever asked to do so
Bachelors Degree or masters equivalent, Advanced knowledge of general
accounting, payroll, budgeting, and related accounting and record keeping
systems in a financial institution, Advanced knowledge of related statutory
banking compliance regulations, and bank accounting policies and procedures,
Intermediate skills related to the consolidation and reporting of bank
financial results, and formulation and implementation, Exceptional
organisations skills with the ability to provide leadership, supervision and
training for a team of employees using positive supervisory techniques to
ensure maximum productivity, Demonstrated ability in time management,
organisation and delegation skills, intermediate skills in computer terminal
and personal computer operation, mainframe computer system and word processing
and spreadsheet software programs, Intermediate typing skills to meet
production needs of the position, Excellent mathematical skills calculate
interest,
commissions, promotions and percentages balance accounts add,
subtract,(multiply and divide in all units of measure, using whole numbers,
common fractions and decimals, locate routine mathematical errors, computer
rate, ratio and percentage, including the drafting and interpretation of bar
graphs, Ability to set and monitor achievements of sustainability, efficiency,
profitability, portfolio quality and outreach activities, Advanced experience,
and knowledge and training in setting and monitoring profitability an
deficiency budgets based on profit and cost centre organisation framework
Result orientation – Has passion for excellence, Set and meet aggressive
commitments for self and others, Believe in stretch goals and motivate others
to achieve results beyond their own expectations, Overcomes obstacles, accepts,
responsibility, creates a results-oriented environment and follows through on
actions, Drive Innovation/change – Generate new ideas and improve existing
systems through new ways that challenge the status quo, Seek ways to ensure
banking at OBM’s is easy and empowering for OBM’s target market and creates a
sense of belonging for our customers, Customer orientation – Embodies a strong
customer orientation and seeks new and better ways to serve both the end
clients and internal clients, Possesses a solid understanding of the
microfinance market and target customers, Strategic perspective – Ability to
define longer terms goals that need to be achieved, Establish priorities,
challenging goals and measurements consistent
with these goals and organisational vision, Rises above the detail to see the
broader issue and implications, Critical judgement and decision-making – Define
issues and focus on achieving workable solutions to obstacles, Make sensible
decisions on the basis of analysis and experience,
Inspire commitment – Champion and live out the OIB network mission, corporate
values and Christian motivation, Actions and behaviour are consistent with
words, Committed o promoting and supporting gender equity and divert in the
workplace and in our programs,
Excellent communicator – Communicates well both verbally and in writing,
Effectively conveys and shares information with others, Listens carefully and
understands various viewpoints, presents ideas clearly and concisely and
understands relevant detail in presented information
Self development – Learns continuously, Pursues positive change in self and
organisation, Builds own personal development plan to acquire/advance
skills,
Servant leadership – recognised and acts on principles of servant leaderships
that the role of a leader is to empower an develop the potential of individuals
rather than telling people what to do
Leadership and interpersonal skills – Creates a culture of continuous
development where employees feel ownership in what they do and continually
improve themselves and the business Recognises and rewards individual and team
achievements
Interested applicant are asked to send an application letter and a CV via email
to recruitment@oibm.mw or
by post to the address below by Friday 10th July , Women are encouraged to
apply, The chief Human Resources Officer, Opportunity Bank Malawi,
Private Bag A71, Lilongwe.
