VisionFund International (VFI) is the world’s largest Christian microfinance network. For more than a decade we have been improving the lives of children across the developing world, as we provide small loans and other financial services to families struggling in poverty.
As the microfinance subsidiary of World Vision, the world’s largest Christian relief, development and advocacy organisation, we work in 30+ countries through our network of affiliated microfinance institutions (MFIs) located across the globe in Africa, Asia, Latin America and Eastern Europe. We have an outstanding loan portfolio of nearly US$ 535 million, serve over 1.2 million active borrowers and impact the lives of over 4 million children each year.
Sharing the same vision as World Vision, VFI aims to provide ‘life in all its fullness’ to children as their parents receive small loans, improve their businesses and increase in ability to care for their children as family incomes multiply.
PURPOSE OF POSITION:
VisionFund International (VFI) is seeking a senior finance expert with good finance, accounting and regulatory experience and management skills. The Regional Finance Manager will work under the direction of the Regional Finance Director of Africa (RFD) to streamline all financial and accounting issues in VisionFund’s various Micro Finance Institutions (MFIs) in the region, guiding and coaching the CFOs and Finance Managers ensuring that they have proper internal controls, follow VFI financial policies and other standards, including regulatory requirements recognized by the external auditors.
He/she will support the planning process in the region to produced credible and high quality projections, support the preparation of reliable financial and operational reports as instructed by the RFD, monitor the financial risks affecting the MFIs ensuring that they have risk instruments in place and the Asset and Liability Committee (ALCO) and risk committees to react in good time to potential risks, in order to minimize their impact. Finally, he/she will provide training to finance staff in the MFIs and ensure that the finance staff in the MFIs are properly motivated, performance managed, developed and evaluated and that they have succession plans for key finance positions.
This position would ideally be based in East Africa and is likely to supervise five countries: Kenya, Uganda, Ethiopia, Tanzania and Rwanda, nevertheless candidates from other regions in Africa that are fluent in French and English are invited to apply as there is always the possibility to relocate this position to West Africa having someone else in charge of East Africa.
- Control Environment - Support the process of installation of electronic financial systems in the MFIs and train staff to make good use of it for the benefit of the business. Monitor the preparation of financial reports to ensure compliance with policies, standards and regulations. Supervise compliance with tax requirements. Ensure that basic internal controls (reconciliation, integration, segregation of duties, approval limits, etc) are in place and followed.
- Monitor the closing of financial issues reported by internal audit, external audit and regulator especially those considered as prudential norms. Support the updating of the financial manual and its implementation and compliance and when required help preparing exceptions to policies. Provide technical support to CFOs responding to complex questions about proper accounting records. Review MED financial report and other special reports prepared by MFIs to ensure quality and compliance with deadlines.
- MFI Planning and Budgeting - Support the planning process of MFIs providing training and coaching to the CFOs in the preparation of quality and realistic projections and helping them to cascade the projections to branch level within their MFI. Also helping them to implement budgetary control mechanisms in their branches. Help to conduct cost-volume-benefit analysis in the branches of MFIs to plan operations, reduce OCR and improve results.
- Funding - Monitor funding needs in the MFIs, supporting them with monthly cash flow projections that are aligned with approved funding plans. Organize monthly funding calls and monitor covenant compliance.
- Risk Management - Ensure that all MFIs have updated risk management tools in place (E.g. Risk appetite, Risk Register, ALM procedures) and they are making meaningful use of ALCO and Management Risk Committees to monitor and control financial and operational risks on a monthly basis. Track key financial risks in the MFIs and propose actions to mitigate them. Check for proper insurance coverage in the MFIs.
- Administration - Conduct regular visits to MFIs with a plan approved by RFD and prepare reports of the visits. Support preparation of performance plan and performance evaluation. Support the RFD in the preparation of operational and financial reports. Support the preparation of operational reports and provide information that is requested from VFI global centre colleagues. Support the preparation of annual surveys (insurance, our voice and others).
KNOWLEDGE, SKILLS AND ABILITIES:
- Degree in finance or accounting, CPA or ABBA certificate preferred.
- Good communication and relational skills in both oral and written forms, with cross cultural sensitivity as this role will work with colleagues from many areas of the world.
- Must be able to simultaneously manage multiple priorities and projects.
- Given the need to control financial risk within the MFI's, this position requires a deep financial analysis and accounting understanding, preferably with some audit background.
- Understanding of balance sheet, risk management including interest rate risk, liquidity risk and foreign exchange risk as well as bank funding processes and contracting.
- Must be experienced in use of database software systems and Excel.
- Advance knowledge of Excel can be of great advantage for the job.