Chief Finance Officer Vacancy at Tanzania Commercial Bank

Chief Finance Officer Vacancy at Tanzania Commercial Bank

Chief Finance Officer Vacancy at Tanzania Commercial Bank

Tanzania Commercial Bank

Dar es Salaam

Tanzania Commercial Bank, formerly known as TPB Bank Plc, is a commercial bank in Tanzania.

About TCB

Tanzania Commercial Bank (TCB) is one of the leading financial institutions in the country, providing first-class banking services and solutions to private individuals, enterprises, and the community at large. The bank has a team of highly qualified, experienced, and committed professionals who serve customers and contribute to the economic development and financial inclusion of the country. The Government of the United Republic of Tanzania is the majority shareholder, with minority stakes held by the Tanzania Posts Corporation, the Revolutionary Government of Zanzibar, Posta na Simu Savings and Credit Society, the Public Service Social Security Fund, and the Workers Compensation Fund. TCB has launched its new strategic plan for the years 2024-2028, with the primary focus of trying to transform its balance sheet to serve SMEs more. This will help to not only widen the customer base but also position TCB as the future leader in the industry and spearhead the country’s economic growth. TCB aims to incorporate technology into its five-year plans aimed at disrupting the market and leading to a better customer experi­ence.

If working in a dynamic environment such as this is something that is of interest to you, then the Tanzania Commercial Bank is the place to be.

Chief Finance Officer;

Are you ready to be part of a transformational journey in the banking sector and passionate about spearheading the financial agenda? Tanzanian Commercial Bank (TCB) is hiring for a dynamic and experienced Chief Finance Officer (CFO) to lead the Finance department and drive its strategy.

Reporting to the Chief Executive Officer, the CFO will be responsible for leading the finance function, overseeing financial planning and analysis, accounting, treasury management, and regulatory reporting activities, and providing strategic financial guidance to support TCB’s business objectives. The role requires strong leadership, analytical skills, and business acumen, as well as a deep understanding of financial management in the banking industry.

Working with a vibrant team of finance professionals, the CFO will be at the forefront of the bank’s financial strategy, driving performance, managing risk, and ensuring that TCB is sustainable over the foreseeable future.

Key Duties and Responsibilities

• Responsible for the bank’s books of accounts;
• Oversee asset liability management and fund management program for the Bank
• Review the institution’s financial conditions, financial position and recommend viable alternatives for cost effective operation
• Develop and expand the financial strategy of the bank management in order to develop and strengthen the financial capacity of the bank
• Participate in the strategic planning process, to lead the budgeting and forecasting of the bank and to build a strong financial discipline and accountability foundation for budgeting and forecasting.
• Ensure achievement of revenue targets on interest income and off-balance sheet earnings.
• Ensure adherence to policies for control of assets and expenses.
• Develop and oversee implementation and review of financial policies and guidelines;
• Responsible for tax matters of the bank by ensuring statutory compliance and timely filing of various tax returns;
• Prepare annual financial statements of the bank for audit purpose;
• Be responsible for periodic statutory accounts in line with acceptable regulatory requirements; BOT returns and financial statements of the bank;
• Oversee accounting as well as financial standards and regulatory reporting;
• Responsible for the preparations and oversight of annual budgets including expenditure tracking, budgets monitoring, conducting variance analysis and implementing corrective actions;
• Prepare periodic financial information and reports used by management, the Board of Directors, regulatory bodies and other stakeholders;
• In charge of Management Information Analytics of the bank responsible for designing, develop and enhancement of various data mining models that will help the business to improve its financial performance, customer metrics as well as other growth strategies (business units, branches and products performance);
• Prepare, present and interpret financial reports to the management. Board of Directors, shareholders and government authorities and to direct and supervise preparation of all fiscal reporting, such as cost accounting, budgets, regulatory authorities and government reports.
• Responsible for reconciliations of Head office bank accounts and suspense account;
• Carry out all payments to suppliers and staff of the bank and reconciliations of head office accounts; and
• Carry out any other related duties as assigned by the Supervisor.

Minimum requirements:

• Holder of a Bachelor’s Degree in one of the following fields; Accounting, Finance, Commerce or Business Administration (Majoring in Accounting, Finance and Banking) or equivalent qualifications from recognized institutions with;
• At least 7 years’ working experience in the banking industry or financial institution of which two (2) years should be in a managerial position
• Registered CPA (T), ACCA, ACA or equivalent professional qualifications;
• Registered with NBAA as a Certified Public Accountant.
  Possession of a Masters Degree in one of the fields mentioned above is an added advantage
• Strong leadership skills coupled with the composure required to thrive under pressure;
• Always willing to learn and grow as a leader and professional;
• Strong motivational skills to drive the team for self-motivation in challenging times;
• Excellent oral and written communication skills to create a message and lay out strategies that team can easily understand;
• A healthy level of diplomacy and discretion while dealing with customers and stakeholders at all levels;
• Strong commercial acumen

How to Apply:

Interested candidates are advised to apply for the stated position and send their email to [email protected] indicating on the subject of the email the reference number of the job and the name of the position on or before 3 July 2024.

The applicants should attach their Motivational letter, CV which should contain the applicant’s mobile number, email address, career background, and three referees. The applicants are also required to attach certified copies of their academic certificates.

Any form of canvassing will lead to automatic disqualification.
Only short-listed applicants will be contacted.