Financial Control Officer Job at Bosak Microfinance Bank Limited

Bosak Microfinance Bank Limited was incorporated in December 2009 with the business objective of providing financial service to micro clients who were excluded from the mainstream financial system. It commenced operations in June 2010 upon obtaining a Unit Microfinance Banking License from the Central Bank of Nigeria. It later obtained a State Microfinance Banking License in 2016.

Bosak Microfinance Bank Limited’s financial inclusion effort focuses on promoting savings culture, access to credit facilities for income-generation purposes and reducing vulnerability to risk through micro insurance. The Bank’s major strategic focus employs the group lending methodology in its operations with a leaning towards women. It believes in the commitment of women folk to work hard and help their families conquer poverty. As such, more than 95% of the Bank’s lending activities focuses on women. The success of the bank’s group lending activities largely depends on group solidarity and cohesion.

We are recruiting to fill the position below:

Job Position: Financial Control Officer

Job Location: Ikeja, Lagos
Employment Type: Full-time

Role Description

• This is a full-time on-site role for a Financial Control Officer.
• The Financial Control Officer is responsible for ensuring financial reporting accuracy and compliance with financial regulations.
• The officer will also be responsible for analyzing financial data, preparing financial statements, and ensuring the bank's resources are optimized for maximum profitability.

Responsibilities

• Cash and Liquidity Management.
• Cash forecasting and budgeting
• Working capital monitoring
• Cash concentration: Create a system for funneling cash into a centralized investment account, from which cash can be most effectively invested.
• Investments: Use the corporate investment policy for allocating excess cash to various types of investments, depending on their rates of return and how quickly they can be converted into cash.
• Fund raising: Determine when additional cash is needed, and raise funds through the acquisition of debt, sale of stock, or changes in company policies that impact the amount of working capital required to run the business.
• Risk management: Use various hedging and netting strategies to reduce risk related to changes in asset values, interest rates, and foreign currency holdings.
• Bank relations: Manage relationship with Correspondent Banks
• Reporting: Providing the senior management team with reports concerning market conditions, funding issues, returns on investment, cash-related risks, and similar topics.

Qualifications / Requirements

• Bachelor's Degree in Accounting or Finance related courses
• Proven work experience with a minimum of 1-2 years of Banking experience
• Strong knowledge of accounting regulations and procedures, including Generally Accepted Accounting Principles (GAAP).
• Professional certification in Accounting, such as ICAN or ACCA will be an added advantage
• Experience in the banking or microfinance industry
• Proficiency in Microsoft Office Suite and accounting software.
• Strong organizational and multitasking skills.
• Excellent communication and interpersonal skills.
• High level of accuracy and attention to detail.
• Ability to work effectively in a fast-paced, tech-oriented environment.

Skills:

• Strong understanding of accounting principles and finance
• Excellent analytical skills for interpreting financial data
• Income Statement and Balance Sheet Review
• Weekly/Monthly Bank Reconciliations
• Preparing General Ledger Reconciliation
• Experience with financial reporting and creating financial statements
• Attention to detail and accuracy in financial analysis
• Promptness in Posting of Transactions
• Monthly Update of Fixed Asset Register
• Preparing Monthly Journals
• PAYE/WHT Remittances, Receipts documentation
• Raising Internal Memos
• Preparing Monthly Management Account
• Raising Monthly Journals.

Salary
N89,000 - N180,000 Monthly.

Method of Application
Interested and qualified candidates should send their CV to: recruitment@bosakmfb.com or jimohoriyomi@bosakmfb.com using the Job Position as the subject of the mail.