Dec 20, BRAC Chief Financial Officer – Microfinance Jobs in Rwanda

BRAC International (BI) is a leading non-profit organisation with a mission to empower people and communities in situations of poverty, illiteracy, disease, and social injustice. Founded in 1972, by Sir Fazle Hasan Abed, BRAC is the largest non-governmental development organisation in the world, and is present in 15 countries across Asia and Africa today.

BRAC designs proven, scalable solutions that equip people with the support and confidence they need to achieve their potential. BRAC’s institutional expertise on various programmes, including health, agriculture, microfinance, education, and youth empowerment, is touching the lives of over 100 million people in the Global South.

BRAC International Holdings B.V. (BIHBV) was set up in 2010 as a private limited liability company under the laws of the Netherlands and is a wholly-owned subsidiary of Stichting BRAC International (SBI). BIHBV is a socially responsible for-profit organisation, engaging people in sustainable economic and income-generating activities.

The core focus of BIHBV is to provide microfinance services to people, particularly women, living in poverty in rural and hard-to-reach areas to build their financial resilience and improve the quality of life for them and their families.

BRAC has been one of the pioneers of microfinance since it first started in 1974. BRAC first expanded its microfinance operations internationally in 2002 and now operates in seven countries outside of Bangladesh – Myanmar, Tanzania, Uganda, Rwanda, Sierra Leone, Liberia and Ghana. Together, these seven entities serve more than 800,000 clients, 96% of whom are women.

BRAC International Microfinance’s mission is to provide a range of financial services responsibly to people at the bottom of the pyramid. It particularly focuses on women living in poverty in rural and hard-to-reach areas, to create self-employment opportunities, build financial resilience, and harness women’s entrepreneurial spirit by empowering them economically.

BRAC Rwanda Microfinance Company PLC (BRMCP) was registered with the Rwanda Development Board in September 2018 and was granted a license from the National Bank of Rwanda to operate Microfinance and other financial services to people living in poverty, with a strong focus on women living in rural and hard-to-reach areas in Rwanda. BRMCP is seeking application from competent, dynamic and self-motivated individuals to fill the following position:

Chief Financial Officer (CFO)/ Head of Finance (HOF) – BRAC Rwanda Microfinance

The CFO/ HOF will be responsible for providing strategic financial leadership, managing financial risks, and ensuring the overall financial health of the organization.

This key executive role involves overseeing financial operations, implementing robust financial controls, and supporting business decisions to drive sustainable growth and financial stability. The person will be responsible for all operations in the country and will be reportable to the entity CEO with a dotted line with the Group Director of Finance.

Key Responsibilities:

Financial Planning and Analysis:

Develop and execute comprehensive financial plans aligned with the organization’s strategic goals.

Conduct financial analysis, forecasting, and modeling to support decision-making processes.

Provide timely and accurate financial reports to the executive team and board of directors.

Risk Management:

Implement and monitor effective financial risk management strategies to safeguard the financial assets of the organization.

Assess and mitigate financial, operational, and regulatory risks to ensure compliance with industry standards and regulations, lender covenants etc.

Budgeting and Cost Control:

Lead the budgeting process, working closely with department heads to set financial targets and allocate resources efficiently.

Implement cost control measures to optimize operational efficiency and improve overall financial performance.

Financial Reporting and Compliance:

Ensure accurate and timely financial reporting in compliance with regulatory requirements and accounting standards.

Collaborate with internal and external auditors to facilitate audits and ensure adherence to audit recommendations.

Treasury Management:

Oversee liquidity management, optimizing the use of funds to meet operational needs and regulatory requirements. Manage relationships with financial institutions and stakeholders to secure funding at competitive rates.

Capital Structure and Funding:

Assess the capital structure of the organization and recommend strategies to optimize the balance between debt and equity.

Explore and secure funding sources to support business expansion and capital requirements.

Liaise with the Group treasury team regularly on funding needs

Financial Systems and Controls:

Implement and maintain robust financial systems, policies, and controls to ensure the integrity of financial data.

Stay abreast of industry best practices and technological advancements to enhance financial processes.

Team Leadership and Development:

Lead and mentor the finance team, fostering a culture of excellence, collaboration, and continuous improvement.

Develop the skills and capabilities of the finance team to meet the evolving needs of the organization.

Grant Management

Manage grants received in the entity. Ensure full cost recovery budgets for development activities.

Safeguarding Responsibilities:

Ensure the safety of team members from any harm, abuse, neglect, harassment, and exploitation to achieve the programme’s goals on safeguarding implementation. Act as a key source of support, guidance and expertise on safeguarding for establishing a safe working environment.

Practice, promote and endorse the issues of safeguarding policy among team members and ensure the implementation of safeguarding standards in every course of action.

Follow the safeguarding reporting procedure in case any reportable incident takes place, and encourage others to do so.

Key performance indicators

Smooth financial management in assigned countries.

Holding capacity-building workshops for local accountants

On-time delivery of lender and Donor reports

Minimize cash shortages in all branches to improve the cash management system and minimize fraud.

Safeguarding of BRAC property & assets

Proper investment of funds and ensuring sustainability

Required Knowledge, Skills & Competencies:

Knowledge on IAS/IFRS, Accounting, Budgeting, Finance, Auditing, Tax, VAT, Fiscal laws and their application

In depth knowledge of international standards on Auditing and Finance

Should be sincere, polite, dynamic, hardworking and willing to work under pressure

Should have good communication and presentation skill in English

Sound knowledge on Computer Literacy.

Required Educational Qualifications:

Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. Professional certification (e.g., CPA, ACCA) is highly desirable.

Required Experience (Including sector/industry):

At least 5-8 years of managerial experience in Finance & Accounts in financial leadership role within the microfinance, banking, or financial services industry.

Proven experience in a senior financial leadership role within the microfinance, banking, or financial services industry.

In-depth knowledge of regulatory requirements for deposit-taking microfinance institutions.

Strong analytical, strategic thinking, and problem-solving skills.

Excellent communication and interpersonal skills, with the ability to engage effectively with internal and external stakeholders.

Demonstrated leadership experience in managing and developing high-performance finance teams.

How to Apply

If you feel you are the right match for the above-mentioned position, please follow the application instructions accordingly:

Candidates need to send a signed Cover letter in PDF format indicating the title of the position applied for an updated CV mentioning educational and professional qualifications, years of experience, and notarized scanned copies of academic qualifications. All those documents should be sent through email: [email protected]

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