Financial Controller in a CBN-licensed Microfinance Bank

Job Title: Financial Controller

Location: Victoria Island, Lagos
Employment Type: Full-time

Job Summary

• The Financial Controller will provide strategic financial leadership and oversee all financial, regulatory, risk management, and compliance functions of the microfinance bank.
• The FC will ensure CBN regulatory compliance, drives digital banking financial operations, manages enterprise-wide risks, optimize capital structure, and delivers accurate financial reporting to support informed decision-making and sustainable business growth.

Responsibilities
Strategic Financial Planning & Leadership:

• Develop and implement financial strategies, business plans, and financial models aligned with microfinance industry dynamics
• 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.
• Partner with CEO and Board to formulate and execute the bank's financial strategy and digital transformation initiatives
• Lead capital planning, budgeting processes, and financial forecasting
• Partner with CEO and Board to formulate and execute the bank's financial strategy and digital transformation initiatives
• Drive innStrategic Financial Planning & Leadership

Regulatory Compliance & CBN Reporting:

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

Financial Management & Operations:

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

Financial Risk Management:

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

Digital Banking Financial Oversight:

• Monitor transaction processing costs and digital channel economics
• Collaborate with technology leadership on digital infrastructure investments and ROI analysis
• Oversee financial controls embedded in digital platforms and payment systems
• 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
• Manage statutory reserve requirements with CBN.
• Manage relationships with DFIs, impact investors, and funding partners
• Ensure compliance with CBN single obligor limits and exposure limits
• Oversee treasury operations and investment of surplus funds in CBN-approved instruments

Governance & Board Relations:

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

Tax Planning & Compliance:

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

Finance Team Leadership:

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

Stakeholder Management:

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

Requirements
Academic Qualifications:

• Active membership/fellowship of Institute of Chartered Accountants of Nigeria (ICAN) - ACA/FCA, OR Association of Chartered Certified Accountants (ACCA) - ACCA/FCCA.
• 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)

Work Experience:

• Track record in financial inclusion initiatives or development finance (preferred).
• Experience managing CBN regulatory compliance and examinations
• 12-15 years of progressive financial management experience
• Experience with digital banking or fintech operations (advantageous)
• Proven experience in Nigerian banking, microfinance, or financial services sector
• At least 5-7 years in senior financial leadership roles (FC, CFO, Finance Director, Group Financial Controller, or equivalent)

Highly Desirable:

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

Skills and Competencies
Technical Skills:

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

Soft Skills:

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