The CFO is responsible for financial strategy, financial condition and position of the Bank and drive financial discipline in banking operation. The role holder will be responsible for successful implementation of financial system as per international standards and Central Bank of Barbados guidelines.
The CFO is accountable for the financial and risk management operations including development of financial and operational strategy, metrics tied to that strategy and the ongoing development and monitoring of control systems designed to preserve the Bank’s assets and report accurate financial results. The responsibilities include Asset / Liability management, profitability, cost analysis and cost control. budgeting & forecasting, financial planning & Strategic business planning, revenue & capital expenditure management. designing & implementing effective management information system, risk based auditing, tax strategy & operation, financial reporting & control, financial management support for all departments, and internal / external financial reporting.
Tasks and Responsibilities:
STRATEGY PLANNING BUDGETING & FORECASTING
- Provides strategic recommendations to the CEO and members of the Board/ executive management team; Develop short term and long term plans, projections and budgets and advise on long-term business and financial planning, fiscal control and profitability; prepares, presents and interprets financial reports with the Board
- Financial Planning, MIS, Budgeting, Cash Flow Projections - Manages the processes for financial forecasting and budgets, and overseeing the preparation of all financial reporting
- Responsible for ensuring integrity, accuracy and completeness of financial data. Adheres to tax laws and regulatory compliance and prepare management and financial reports to properly reflect the financial position of the Bank.
- Manage cash flow planning process and ensure funds availability. Oversee cash, investments and asset management area. Explore new investment opportunities and provide recommendations on potential returns and risks.
- Utilize forward-looking models and activity-based analyses to provide financial insight into the organization’s plans and operating budgets.
FINANCIAL RELATIONS AND TEAM LEADERSHIP
- Represent company to banks, financial partners, institutions, investors, public auditors and officials. Supervise filing of statutory returns to regulatory authorities.
- Maintain outstanding banking relationships and strategic alliances with vendors and business partners.
- Remain current on audit best practices as well as local laws regarding the Bank’s operations
- Provides leadership, direction and management of the finance and accounting team, responsible for managing all matters pertaining to Finance
- Directs accounting department activities; provides leadership, training and supervision within the department; provides a high level of customer relations and service; and ensures compliance with Bank policies and procedures.
- Undertake the role of Board Member of the Bank and any other relevant roles, where necessary and required by the Management
- Undertake such duties, related to position as may from time to time be assigned the Management
Qualifications and Required Skills:
- A bachelor’s degree in Accounting or Finance, CPA required; with experience of around 15 years with at least 5 years leading the Finance Department (senior management) level in the banking sector, with proven leadership and management experience
- Competencies in relevant provisions & compliance (IFRS, GAAP), Strategic & financial planning,
budgeting and monitoring thereof.
- Decision maker, Problem solver, analytical ability & good numeric skills including use of
- Accountable & responsible, excellent interpersonal and communication skills with the executive
presence to work with the Board, investors and external stakeholders. Excellent verbal and
written communication skills.
- Must be able to engage with staff at all levels of the organization and exercise sound judgement