Chief Financial Officer.

Job Description

Our client, a CBN-licensed Microfinance Bank, is seeking to hire a Chief Financial Officer.

Job Summary:

The Chief Financial Officer provides strategic financial leadership and oversees all financial, regulatory, risk management, and compliance functions of the microfinance bank. The CFO ensures CBN regulatory compliance, drives digital banking financial operations, manages enterprise-wide risks, optimizes capital structure, and delivers accurate financial reporting to support informed decision-making and sustainable business growth.

Key Roles and Responsibilities:

Strategic Financial Planning & Leadership

• Partner with CEO and Board to formulate and execute the bank's financial strategy and digital transformation initiatives
• Develop and implement financial strategies, business plans, and financial models aligned with microfinance industry dynamics
• Lead capital planning, budgeting processes, and financial forecasting
• Drive innovation in digital financial services while maintaining prudent financial management

Regulatory Compliance & CBN Reporting

• Ensure full compliance with all CBN regulations, circulars, and prudential guidelines for microfinance banks
• Oversee timely submission of all regulatory returns (monthly, quarterly, annual prudential returns, FINSCOPE, NDIC, EFCC, FRC filings)
• Maintain active liaison with CBN examiners, NDIC, and other regulatory bodies
• Lead preparation for CBN examinations and regulatory audits
• Monitor and implement regulatory updates affecting microfinance operations

Financial Management & Operations

• Direct accounting, treasury, financial planning & analysis, taxation, and financial reporting functions
• Oversee preparation of IFRS-compliant audited financial statements
• Manage liquidity position, ensuring compliance with CBN liquidity ratios and capital adequacy requirements
• Monitor loan portfolio quality, provisioning, and NPL management 
• Optimize cost-to-income ratio and operational efficiency
• Oversee funds transfer pricing and profitability analysis across products and channels

Financial Risk Management

• Develop and implement financial risk management frameworks
• Monitor credit risk, market risk, and liquidity risk from a financial perspective
• Participate in Management Committee meetings and ALCO
• Ensure robust financial controls and fraud prevention mechanisms
• Monitor exposure limits and concentration risks

Digital Banking Financial Oversight

• Collaborate with technology leadership on digital infrastructure investments and ROI analysis 
• Oversee financial controls embedded in digital platforms and payment systems
• Monitor transaction processing costs and digital channel economics
• Drive automation of financial processes and reporting systems
• Evaluate fintech partnerships from financial viability and cost-benefit perspectives

Treasury & Funding Management

• Manage funding strategy including deposits mobilization, borrowings, and capital raises
• Oversee treasury operations and investment of surplus funds in CBN-approved instruments
• Manage relationships with DFIs, impact investors, and funding partners
• Ensure compliance with CBN single obligor limits and exposure limits
• Manage statutory reserve requirements with CBN

Governance & Board Relations

• Present financial reports and strategic recommendations to Board of Directors
• Serve on Audit, Risk Management, and Finance & Investment Committees
• Coordinate internal and external audit activities and ensure timely resolution of audit findings
• Drive corporate governance best practices across finance function
• Maintain relationships with external auditors

Tax Planning & Compliance

• Develop tax-efficient strategies within Nigerian tax laws
• Ensure timely filing and payment of all taxes (CIT, VAT, WHT, PAYE)
• Manage relationships with FIRS and State Internal Revenue Services
• Optimize tax position while ensuring full compliance

Finance Team Leadership 

• Build, develop and mentor high-performing finance team
• Drive succession planning and capacity building within finance function
• Foster a culture of accuracy, compliance, and continuous improvement
• Implement training programs to enhance technical and analytical capabilities

Stakeholder Management

• Represent the bank to investors, rating agencies, and investment community
• Maintain relationships with commercial banks, DFIs, and funding partners
• Participate in industry associations and microfinance forums
• Manage investor relations and fundraising activities.

Requirements

• Bachelor's degree in Accounting, Finance, Economics, Banking & Finance, or related field from a recognized university
• Master's degree in Business Administration (MBA - Finance), Accounting, or Finance (highly preferred)
• Active membership/fellowship of Institute of Chartered Accountants of Nigeria (ICAN) - ACA/FCA, OR Association of Chartered Certified Accountants (ACCA) - ACCA/FCCA
• Minimum 12-15 years of progressive financial management experience
• At least 5-7 years in senior financial leadership roles (CFO, Finance Director, Group Financial Controller, or equivalent)
• Proven experience in Nigerian banking, microfinance, or financial services sector
• Experience managing CBN regulatory compliance and examinations
• Experience with digital banking or fintech operations (advantageous)
• Track record in financial inclusion initiatives or development finance (preferred)

HIGHLY DESIRABLE:

• Chartered Financial Analyst (CFA)
• Certification in Risk Management (FRM, CIPM)
• Certification in Corporate Governance
• Member of Chartered Institute of Bankers of Nigeria (CIBN)
• Certification in AML/CFT compliance

Required Skills and Competence

Technical Skills:

• Expert knowledge of International Financial Reporting Standards (IFRS) and Nigerian GAAP
• Deep understanding of CBN prudential guidelines and regulations for microfinance banks
• Advanced financial modelling, analysis, and forecasting capabilities
• Proficiency in risk management frameworks (Basel, COSO, ISO 31000)
• Strong knowledge of core banking systems and digital banking platforms
• Expertise in treasury management and Asset-Liability Management (ALM)
• Comprehensive understanding of Nigerian tax laws and regulations
• Knowledge of audit methodologies and internal control frameworks
• Proficiency in financial management software and ERP systems
• Understanding of microfinance operations and development finance principles

Soft Skills:

• Strategic thinking and business acumen
• Strong leadership and people management capabilities
• Excellent stakeholder management and relationship building
• Outstanding written and oral communication skills
• High emotional intelligence and executive presence
• Problem-solving and analytical thinking
• Decision-making under pressure and in ambiguous situations
• Change management and digital transformation leadership
• Integrity, ethics, and professional conduct
• Collaboration and cross-functional team leadership
• Attention to detail and accuracy
• Proactive and solution-oriented mindset
• Crisis management capabilities
• Negotiation and influencing skills
• Adaptability and resilience

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