Head of Finance at Mwalimu Commercial Bank

Head of Finance at Mwalimu Commercial Bank

Dar es Salaam

Mwalimu Commercial Bank

Mwalimu Community Bank Limited (MCB) is a commercial bank which is wholly-owned and promoted by an umbrella trade union of teachers in Tanzania.

Job Title: Head of Finance

Company: Mwalimu Commercial Bank Plc Location: Head Office, Dar es Salaam Type: Full-Time

Reports to: Chief Executive Officer (CEO)

About MCB Bank

Mwalimu Commercial Bank Plc (MCB plc) is a Public Company limited by shares serving both general public and SME’s with an extensive service network of branch­es and service centres across regions, agents (Mwalimu Wakala) and mobile banking( Mwalimu Mobile). In delivering its financial solutions to its esteemed custom­ers,MCB Bank is seeking for the experienced and dynamic Head of Finance to complement to the Bank’s long-term strategic goals.

Job Summary:

The Head of Finance has a primary responsibility in formulation and execution of bank strategy that will enable the bank to achieve its long-term financial perfor­mance, maximising shareholder returns and growth.S/he will oversee accounting operations and strategic decisions on resource allocation within business .S/he is accountable to provide accurate, timely and meaningful financial and management information that enables the Board of Directors and management to make informed decisions regarding the strategic direction of the Bank.

Key responsibilities:

• Plan, implement and manage the overall financial strategy of the Bank
• Develop,implement and abide to policies,proce­dures and standards ;
• Provide an accurate and timely financial services including setting and monitoring of budgets, forecasts, cash flow analysis, management and financial accounts and advice and support to inform decision making at all levels;
• Oversee and manage financial accounting and reporting systems that are in accordance to Interna­tional Financial Reporting Standards (IFRS), Coordinate, implement and ensure compliance with tax laws and regulations;
• Coordinate compliance with Bank of Tanzania reporting regulations;
• Coordinate statutory audits
• Manage the acquisition of capital assets and ensure that fixed assets are properly recorded and coded, amortized and disposed of as appropriate;
• Develop performance mechanism for finance team and monitor their performance through training and coaching;
• Prepare periodic reports on customer/product segment performance, regulatory returns and statutory accounts,
• Establish guidelines for budget and forecast prepa­ration, and prepare the annual budget in consultation with the rest of management team;
• Design and implement the necessary controls to protect the Bank’s assets and prevent any potential areas of fraud and advise the CEO on appropriate insurance coverage for the Bank; and Perform any other duties as assigned by the CEO from time to time.

Education/ Professional Qualifications:

• University Degree or equivalent qualifications in Accounting, Finance, Commerce, or Business Administration;
• Possession of Professional accounting qualification such as CPA (T) or ACCA
• Minimum seven (7) years of progressive financial responsibility at senior management level in a finan­cial institution.
• Experience in a risk function will be an added advantage.

Knowledge & Skills Required:

• Strategic mindest
• Analytical thinking
• Strong problem solving skills
• Strong formal presentation skills
• Strong leadership and teamwork skills
• Dynamic to change
• IT basic skills
• Commercial and entrepreneurial thinking

Mode of Application:

Interested candidates that meet the above qualifications should submit the Application cover letter together with a well filled curriculum vitae and addressed to: recruitment@mcb.co.tz. The deadline for the applica­tion is Friday, 8th December 2023