Head of Finance – BBS Limited

Company: BBS Limited
Reference # F00001
Contract Type: Contract 36 Months
Salary: Market Related
Location: Gaborone, South East, Botswana

Introduction

BBS Limited (BBSL) is a financial institution whose head office is in Gaborone Botswana, with the principal business of residential and commercial property finance. The business is however in the process of converting to commercial banking. BBSL requires an individual with a qualified accountant with background from a financial institution to assume the role of Head of Finance. The position is a senior executive management role reporting to the Managing Director.

Specification

Reporting to the Managing Director, the role provides leadership and oversight of the Company’s financial management. The person will formulate, position and drive the Finance operating model, strategy and implementation in alignment with the overall Company strategy. The incumbent oversees the bank’s financial management and reporting processes and ensures that there is robust internal reporting and compliance with regulatory, legislative and accounting standards. Duties

The duties of the Head of Finance will include the following –

 Drives financial management and financial processes that support the business needs of the Company in line with strategy.

 Translates the Bank’s strategic plan into a financial management strategy and guides implementation to ensure that the Bank achieves its business objectives through sound financial management

 Develops and manages finance strategies for balance sheet structuring and financial targets.

 Develops robust finance control procedures to support governance requirements.

 Supports and enables the various organisational departments through appropriate financial services such as planning and budgeting cycles, and ensures that robust financial controls are in place.

 Ensures and assist with the sourcing, collation, analysis and interpretation of financial information to enable the review of financial business performance.

 Prepares the Company’s financial statements and manages the process to financial statements publishing.

 Oversees the interim review and the annual audit by external auditors and resolution of management letter issues.

 Liaises with the Bank of Botswana, and external auditors for the Tri- lateral meetings and presents the bank’s financial statements at the meeting.

 Liaises with all regulators and stakeholders and prepares information for annual report preparation, financial analysis and forecasting, financial trend reporting tax accounting.

 Maintains compliance with the Companies Act and other applicable legislation, including the Banking Act and regulations.

 Ensures conformity with the legal and financial requirements and ensures organizational compliance efforts with all regulatory requirements.

 Reviews trial balance information to ensure completeness.

 Prepares quarterly management reports together with variances for the board to ensure that they are presented accurately and on time.

 Prepares the Company’s annual budget for presentation to the Board and to ensure that the bank’s financial targets are met and financial and statutory regulations complied with.

 Ensures that financial reporting is in compliance with International Financial Reporting Standards; budgeting; taxes and tax planning; cash management; banking; bank reconciliation and similar activities

 Oversees the Company’s fixed asset portfolio and prepares depreciation schedules and catalogues furniture, fixtures, and equipment.

 Oversees the verification, investigation and reporting of variances and implement recommendations to resolve discrepancies to ensure an updated asset register.

 Prepares regular reports and statements for management.

 Authorises payments and cheques to ensure the Company meets its obligations to stakeholders effectively. Checks and authorises journals both in the system and the journal books to ensure effective production of management accounts.

 Oversees and manages compliance with capital requirements structure and capital adequacy.

 Develops a departmental operating plan that contributes to the achievement of organisational results, sustainability and viability based on analysis, environmental scanning and industry trends.

 Directs, coordinates and administers all aspects of the Finance department’s operations through directive leadership.

 Supports the various departments through appropriate financial services and support with the planning and budgeting cycles, ensuring that robust financial controls are in place.

 Applies financial expertise to contribute to and advise on applicable asset selection strategies related to banking market transactions.

 Sits in or participates in various Management committees of the Company relating to the Finance department and the wider bank as required.

 Prepares monthly reports that will be used to monitor the progress made in the implementation of the strategic objectives.

Requirements

Education/Certification – Minimum ACCA, CA or CIMA or an equivalent combination of experience and training.

Required Experience – Minimum of ten years of finance, accounting and related experience preferred five of which must have been at Management and Executive Management level. Previous experience in a bank or financial institution preferred.

Required Knowledge and Competencies

Financial Management – Compiles and manages budgets, controls cash flow.
Strategic focus on planning tools that will assist with evaluating and monitoring future expenditure trends. Able to guide others in terms of budgeting guidelines for the organisation. Creates focus on partnerships and other avenues to achieve financial savings and improved service delivery. Expert knowledge of techniques to improve asset control. Able to evaluate financial impact of strategic decisions across the organisation. Expert knowledge in long-term plans, performance measures and budgets that are aligned with strategic objectives.

Financial Reporting – Ensures that the financial and operational performance of a department is clearly and effectively reported on to the relevant authorities.
Extensive knowledge of accounting reporting standards. Extensive knowledge of reporting requirements of risks relating to errors, omissions, and non-compliance . Able to evaluate and advise on financial reporting best
practices and linking financial reporting to business performance monitoring.

Compliance knowledge – Applies Compliance knowledge and skills within the parameters of prescribed regulatory and best practice framework for good corporate governance.
Demonstrates extensive knowledge and understanding of risk and compliance management methodologies, tools , governance structures and regulatory requirements for good corporate governance. Understands risk holistically across risk types, providing recommendations to mitigate risk. Knows how to drive compliance to legislation, regulations and industry codes of practice.

Strategic Capability – The ability to evaluate and redirect organisation strategy, value proposition, and business strategy aimed at conceptualising a desired future state that promotes the viability of the organisation.
Analyses and evaluates the commercial environment and business factors through systematic processes and incorporating these insights towards building a viable operational strategy at a multiple value chain level. Translates the enterprise strategy into targets & operational plans for a multiple value chain function. Pulls a variety of complex data and information (eg customer feedback, business indicators, industry trends) into a clear explanation as a basis for identifying opportunities or potential problems in advance.

Job Closing Date 19/02/2021

 

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