ABOUT THE ORGANIZATION:
Fonkoze is a family of organizations that work together to provide the financial and non-financial services to empower Haitians—primarily women—to lift their families out of poverty.
ABOUT THE JOB:
The Chief Financial Officer (CFO) is responsible for developing the vision for the long-term financial strategy of Sèvis Finansye Fonkoze, S.A. (SFF). This includes and is not limited to leading and directing SFF’s financial and fiscal functions. This incumbent leads and oversees: capital planning; management and asset/liability management; financial/regulatory and other stakeholder reporting; management reporting; financial analysis; planning and budgeting. The CFO manages the staffing and training of financial personnel to ensure maximum efficiency and high quality performance of the department. The CFO is a member of the Executive Management Team and supports the overall strategic development of the Institution. This position reports directly to the CEO.
Tasks and Responsibilities:
- Strategic Business Advisory
- Advises in the development of the Company’s strategic plans, programs and long-term financial strategy;
- Evaluates and advises on the impact of long-range planning; introduction of new products and services; legal, tax and regulatory action;
- Provides strategic financial input and leadership on decision-making issues affecting the organization in close collaboration with other members of the Executive Management Team;
- Communicates and interacts with other departments across the organization including Internal Control, Operations, and IT to resolve issues pertaining to financial and operational performance;
- Monitors the development of the legal and regulatory requirements on banks and microfinance institutions in Haiti and advises the CEO/Board.
- Capital, Liquidity, Asset/Liability Management
- Drives SFF’s capital planning process and ensures efficient allocation of capital;
- Develops a reliable cash flow projection process and reporting mechanisms that ensure minimum cash thresholds to meet operating needs;
- Establishes and executes programs for the provision of financing (debt and equity) required by the businesses, including negotiating the procurement of financing (debt and equity) and maintaining the required financial arrangements;
- Efficiently allocates liquidity throughout SFF’s operations;
- Monitors interest rate, liquidity, and foreign exchange risks and advises CEO/Board accordingly;
- Champions and leads the Asset/Liability Committee (ALCO).
- Financial, Regulatory, and Management Reporting
- Ensures SFF’s monthly, quarterly, and annual financial statements are issued in a timely manner and accurately reflect the financial performance of SFF for the period;
- Communicates with the external auditor in preparation of annual audited financial statements;
- Prepares reports and communications with BRH and other external stakeholders as required;
- Delivers detailed management information and analysis on the profitability/sustainability, portfolio quality, productivity/efficiency of the overall organization as well as for every branch/business line;
- Contributes to the effective improvement of key business processes and systems for internal management reporting in close cooperation with the IT department;
- Supports the communication process with the branches on their performance in close cooperation with the CEO and COO.
- Budgeting
- Supervises and drives the production of SFF’s annual budgets; refines and implements the system for the strict control of and adherence to the budget, and reports monthly on the outcome of the budget to the Boards through the Chief Executive Officer;
- Develops credibility for the finance group by providing timely and accurate analysis of budgets, financial reports, and financial trends in order to assist the CEO, the Board and other senior management in performing their responsibilities;
- Examines the corporate expenditure structure and suggests areas where cost reduction can be made without adversely affecting operations;
- Continues to develop and implement budgeting tools to foster consistency over time;
- Continually improves the budgeting process through education of department managers on financial issues impacting department budgets.
- Performance Management, Training, Development, & Coaching
- Enables the employees of the Finance department to fulfill their job requirements;
- Actively grows the abilities and skills of the department members through formal training programs, mentorship and hands-on learning;
- Fosters an environment that encourages personal and professional growth to encourage loyalty, openness of opinion, and constant curiosity;
- Motivates team members to ongoing learning and supports them to work towards internationally recognized certifications;
- Communicates departmental objectives to staff members by:
- Developing guidelines;
- Setting strategies;
- Developing training programs;
- Leading employees’ communications;
- Establishing metrics for sustainability.
- Evaluates the finance division structure and team plan for continual improvement of the efficiency and effectiveness of the group by participating in their Individual Operating Plan.
Qualifications:
- Holder of a recognized Accounting designation, preferable (CPA);
- Member of « OCPAH »: Ordre des Comptables Professionnels Agréés d’Haïti;
- University degree in Finance, preferably with major in Banking;
- 10+ years of experience in a position of increasing responsibility within Finance;
- More than five years of experience in working in the financial services industry;
- Outstanding interpersonal skills with the ability to build collaborative relationships with senior management, business heads, internal and external stakeholders;
- Proven professional with strong leadership skills;
- Ability to work, influence and engage across the organization;
- Strong understanding of and direct experience with Financial and Managerial Accounting, in addition to having broad knowledge in the budget planning and monitoring of operational expenses and fixed items;
- Proven professional experience in running an ALCO and Treasury function of a financial institution;
- Profound knowledge in the preparation of financial statements according to IFRS;
- Profound knowledge on processes in the finance department of a financial institution;
- Profound knowledge and understanding of banking regulations and external reporting requirements for banks and microfinance institutions in Haiti;
- Demonstrated desire to add significant value within an environment with great growth potential;
- Language: Haitian Creole, French, and English;
- Key Competencies/Skills: leadership, analysis, communicating clearly/concisely, interpersonal/coaching, decision-making, maintaining confidentiality, motivational, networking, structured, organized, problem analysis, problem solving.
HOW TO APPLY:
Interested candidates should submit their resume, cover letter and diploma by email with “Application for Chief Financial Officer” as the subject, to: recruitment@fonkoze.org and ymorgan@fonkoze.org
