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The microloan foundation

the microloan foundation

Job Description

Title: Chief Financial Officer

Salary and Benefits: Highly competitive (Possibly Tax free Pay in US Dollar)

Hours: 8.0 am to 5.00 pm with 1 hour for lunch

Location: Malawi

Closing Date: 31/10/2013

Reporting to: CEO – Malawi but with an indirect line to the Group Head of Finance in the UK

Interface to Malawi Board, Charity Secretary, Audit Committee and UK CEO and Head of Operations.

Deputise for the CEO as required

Indirect reports: Finance Department and IT and MIS Managers of Malawi Operations.

The Charity:

MicroLoan exists to reduce poverty and inequality in Africa. The organisation provides specialised microfinance services and training programmes to poor women in Malawi and Zambia and has ambitious plans to increase its outreach further across the continent. MicroLoan has pioneered an innovative and sustainable microfinance model suited to remote rural areas and for people most in need in the community.

The organisation enables women to work their way out of poverty by providing opportunities to develop lifelong skills, access vital financial services and establish sustainable small businesses. This integrated approach has the capability to improve the quality of life for women and their families. Crucially, MicroLoan works at the grassroots, (50% of clients are below the $1.25 poverty likelihood level). These women are largely ignored by other microfinance organisations because of their needs or location.

MLF Malawi currently serves over 26,000 women at any one time, a number which is set to double over the next 3 years.

Background: MicroLoan is a highly complex operation combining the need for sound business management with proven social impact. The organisation is a charity, consumer goods service operator whilst at the same time a financial services provider.

MLF Malawi was originally set up as a NGO; in order to meet the Malawi Reserve bank regulations, it is in the process of changing to a company limited by shares.

It is not a bank but is monitored in Malawi by the local Reserve Banks, so governance risk management requirements are high. The successful candidate must have the breadth of experience and interest to handle this complexity.


We are looking for a Chief Financial Officer who will be responsible for establishing robust processes, procedures, and internal controls to help the company develop in an efficient and as risk-free manner. S/he will also be actively participating in strategy development and its execution and deputise for the CEO as required.

Reporting to the CEO, the role is a key member of the senior management team, comprising the CEO and HR Manager. It role is multi – faceted with responsibility for managing and developing the financial management function of the Malawi Finance Operations – including responsibility for accounting, management information, IT, treasury, taxation, internal control and audit and to provide support to the Malawi CEO and Group Head of Finance in the UK.

To communicate clear and appropriate summary financial information on time to the Malawi CEO and Trustees, with a core focus of ensuring the local operations achieve sustainability.


and Responsibilities include:

Planning & Budgeting –Creation of long and short- term financial plans, including those that support the MicroLoan Group’s strategy. Preparation of the annual financial budget in Malawi and ensuring that appropriate financial information is provided for these exercises and deadlines are met.

Reporting – Manage, supervise and oversee day to day record keeping and accounting in the Malawi office. Ensure the appropriate, accurate and timely financial management monthly reporting, for the CEO Malawi, UK management, Malawi trustees and Malawi Reserve Bank.

Internal Controls – Ensure the development and operation of an effective internal controls framework throughout MicroLoan Malawi. To include cost control, bank reconciliations, safeguarding of assets.

Audits – Manage the annual audit process in Malawi and ensure that appropriate external and internal audit processes are implemented. Our auditors is KPMG Malawi.

Social Investment/Loans – Provide analysis to support the viability of all forms of social investment to MicroLoan Malawi. This will include reporting statistics for outside funding agencies and also in future “social investment” lenders

Treasury – Ensure the effective operation of treasury activities in Malawi, including cost effective international transfers and general systems for payments and receipts. Establish monthly cash flow updates and review the reserves policy at least annually.

Payroll and Pensions – Ensure that this is correctly managed in line with Malawi Revenue Authority and charity requirements.

Tax – Ensure that the charity has the appropriate tax advice and guidelines to minimise tax liability and to pay all due amounts on time.

IT – Develop, implement, and ensure the effective operation of an IT and MIS infrastructure in Malawi that is fit for purpose and appropriately supported.

Governance – Develop, implement and maintain a risk management process to ensure that risk is managed to a level agreed with the CEO and trustees.

Fundraising – Work with the UK Head of Fundraising, and team, supporting donor applications and relations and ensuring that the Fundraising reporting is accurate and fit for purpose.

Presentation – To represent the charity as appropriate to outside bodies (e.g. donors, partners, seminars).

Staff management– Recruit, manage and develop/restructure the finance team (5 permanent staff), ensuring regular supervision, support and training.

Any other task as delegated by the Malawi CEO and Group Head of Finance in the UK.

Person Specification:

ACCA/CIMA/Master's Degree in Accounting with a Successful track record of running the financial affairs of a charity or business.

At least 5 years of work experience in a senior management role in the microfinance, banking, financial services or related industries

Must be able to manage demanding workload and strict deadlines.

Clear demonstration of having shown initiative and having managed and led projects to a successful conclusion

Good eye for detail and strong written and verbal communication skills

Essentially good fun to work with and an ability to relate to and work with people at all levels in an international culture

Relate strongly to the vision and ideals of the charity

The client is happy to conduct telephone interviews for overseas candidates.

Category: Payday loans

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