Chief Finance Officer job at Britam
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Vacancy title:
Chief Finance Officer

[ Type: FULL TIME , Industry: Nonprofit, and NGO , Category: Accounting & Finance ]

Jobs at:


Deadline of this Job:
12 July 2022  

Duty Station:
Within Tanzania , Dar es Salaam , East Africa

Date Posted: Tuesday, June 28, 2022 , Base Salary: Not Disclosed

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The role holder’s core mandate is to direct and oversee all of the financial operations activities, financial controls, financial reporting, financial analysis and financial planning and forecasting. The CFO will be responsible for controlling the finance and accountancy functions to ensure that proper systems of financial controls and policies are in place. In addition, the incumbent will ensure compliance with Company and International Accounting Standards, regulatory requirements and financial and other policies. The incumbent will also oversee the procurement and administration units of the business.

Key responsibilities
• Responsible for the development and compliance to all finance policies and processes and continuous assessment of internal controls.
• Maintain the integrity of the Trial Balance at all times.
• Credit control and ensure compliance to approved policies.
• Ensure preparation of all reconciliations and timely resolution of all outstanding items
• Ensuring all Finance operations and controls initiatives are implemented within approved framework and timelines.
• Manage relationships with financial institutions and other stakeholders
• Fixed assets management
• Oversight and resolution of risk and internal audit issues within agreed timelines
• Development and monitoring of all Service Level Agreements
• Develop and implement risk management policies
• Recruit, manage performance and identify the training and development needs to enhance skills for the finance and administration team and have a good succession plan.
• Monitor the administrative activities in the department to ensure adequate control and cost-effectiveness in all areas such as, manpower, operational expenses and utilisation of materials
• Oversee and ensure speed and efficiency of service delivery at front office and back-office functions at the branches, including premium collection, customer service for all product lines; and efficient procurement service delivery to internal customers.
• Formulating annual budgets in close relation with heads of departments for Board approval
• Analysing and forecasting critical financial performance indicators such as cash flow, cost controls and actual figures against budgets / targets and conveying these analyses to the CEO, the EXCO, the Board Audit Committee and the Board and recommend on corrective actions where needed
• Analysing and reviewing aged accounts, accounts receivable and making recommendations for improvement
• Ensuring optimal investment of excess funds to maximize investment income
• Assessing the long-term financial trends and reviewing prospects for future growth of income and new product areas, and pin-point potential weak areas
• Providing financial updates, reports and equity/debt tracking
• Creating, coordinating and evaluating the financial programs and supporting information systems of the business unit to include budgeting and tax planning
• Delegated Authority: As per the approved Delegated Authority Matrix
• Perform any other duties as may be assigned from time to time
• Key Performance Measures
• Percentage cost savings from current year budget
• Debtor ratio
• Expense ratio (%of NEP)
• Investment return
• Intermediary/partner satisfaction index
• Compliance with key regulatory requirements
• Working Relationships
• Internal Relationships:
• Accountable to the Country CEO for supervision, progress and guidance
• Group Finance Director for consultations, reports, guidance and work progress (on dotted line)
• Directly responsible for staff working under this position
• Required to liaise and work closely with the other heads of department, internal audit and Group staff as may be necessary
• External Relationships:
• Tax and other regulatory Authorities
• Suppliers and customers
• External Auditors

Knowledge, experience and qualifications required
• Bachelor degree in Finance/Accounting/Economics. A bachelor degree in Actuarial Science will be an added advantage.
• Professional qualifications – Qualified accountant CPA (T)/ ACCA.
• A minimum of 10 years’ relevant experience in Finance with at least 5 years in senior management
• Thorough understanding of International Financial Reporting Standards (IFRS)
• Practical knowledge of the Insurance Act (2009)
• Proven experience in service industry
• Experience working in a fast growing environment
• Ability to analyse financial data and prepare financial reports, statements, and projections
• Excellent team leadership skills, communication, organization and presentation skills

Essential Competencies
• Leading and Supervising – Provides the business with a clear direction based on the overall strategic intent of the organisation; motivates and empowers others with a clear sense of purpose; creates a positive organisational climate that fosters learning and development; acknowledges high potential talent; sets and articulates the vision and values through own personal behaviour.
• Relating and Networking – Easily establishes, as well as assists others in building meaningful relationships with customers and staff across all areas of the business, inside and outside of the organisation; relates well to people at all levels; facilitates the resolutions of conflict and manages disagreements with tact and diplomacy.
• Persuading and Influencing – Gains clear agreement and commitment from others by persuading, convincing and negotiating to the benefit of the organisation; promotes the organisational strategy during conversations; makes effective use of political processes to influence and persuade others; promotes ideas on behalf of oneself, the department or the organisation; makes a strong personal impact on others; takes care to manage the organization’s impression and brand on others.
• Formulating Strategies and Concepts – Works strategically to realize organisational goals; sets and develops organisational strategies; identifies and develops positive and compelling visions of the organization’s future potential; takes account of a wide range of issues across, and related to the organisation; encourages others to take a strategic and long-term view in terms of the organization’s future; communicates the organisational strategy, vision and objectives effectively across all levels of the organisation.
• Entrepreneurial and Commercial Thinking- Keeps up to date with competitor information and market trends; identifies business opportunities for the organisation; maintains awareness of developments, changes, trends and possible risks in the organisational structure and politics; demonstrates financial awareness; ensures costs are monitored and controlled and thinks in terms of profit, loss and added value.
• Adapting and Responding to change – Anticipates and effectively adapts to changing circumstances and ambiguous situations; accepts and actively drives new ideas and change initiatives; adapts interpersonal style to suit different individuals and situations; adapts organisational strategy to take industry changes into consideration.
• Presenting and Communicating Information – Speaks fluently; expresses the organisational strategy, mission, vision, objectives as well as opinions, information and key points of an argument clearly;
• makes presentations and undertakes public speaking with skill and confidence; represents the organisational brand effectively, responds quickly to the needs of an audience and to their reactions and feedback; projects credibility and authority
• Creating and Innovating – Promotes organisational improvement; produces and encourages new ideas, approaches, or insights; creates the environment for innovative products or designs; produces a range of solutions to the strategic benefit of the organisation.
• Achieving Personal Work Goals and Objectives – Accepts and tackles demanding organisational and departmental goals with enthusiasm; lead by example by working hard and putting in longer hours in order to ensure successful implementation and completion of strategic projects; show self-insight in own development needs.
• Adhering to Principles and Values – Upholds and encourages ethical behaviour and organisational values; demonstrates integrity; promotes and defends equal opportunities, builds diverse teams; encourages organisational and individual responsibility towards the community and the environment; models the organisational values during every day interactions.
• Analysing – Strategically analyses sources of information, breaking them into component parts, patterns and relationships; makes rational judgements from the available, as well as missing information; demonstrates an understanding of how one issue may be part of a much larger system.

Work Hours: 8

Experience in Months: 120

Level of Education:
Bachelor Degree

Job application procedure
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Job Info
Job Category: Accounting/ Finance jobs in Tanzania
Job Type: Full-time
Deadline of this Job: 12 July 2022
Duty Station: Dar es Salaam
Posted: 28-06-2022
No of Jobs: 1
Start Publishing: 28-06-2022
Stop Publishing (Put date of 2030): 28-06-2066
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