Chief Finance & Administration Officer (CFAO) - Finaance Services at MAL Consultancy

INTRODUCTION

Our client, a real-time payment services company established in 2015 under the National Payment System (NPS) Act, to address the challenge of inter-bank money transfers in the country is seeking to onboard a People & Culture Leader to drive its people strategy. Our client provides real time, secure and instant money transfer rails 24 x 7 x 365 payment services for the banking industry in Kenya. Her ecosystem today consists of banks, payment service providers (PSPs) and savings and credit cooperative societies (SACCOs) and a Telco. Our client continues to provide a compelling proposition to bank and non-bank financial institutions, consumers, merchants and businesses for real-time transfer, within seconds, enabling immediate value, with same-day settlement capabilities. This has continued to be an exciting reality for consumers across banks with access through various digital banking platforms.

JOB SUMMARY

The Chief Finance & Administration Officer (CFAO) will be a key member of the executive leadership team with shared accountability for enterprise strategy formulation, execution, and long-term business performance. S/he will provide strategic, financial, and operational leadership to ensure the organization achieves its mission, remains financially sustainable, and delivers measurable business outcomes. The CFAO will manage key functions including strategic planning, financial reporting, risk management, and treasury functions. S/he will play a key role as business partner and business advisor on financial strategies to the Board, the CEO and the entire leadership team, while driving profitability discussions and actions, oversight accounting teams, and managing capital allocation to meet business goals. The CFAO will lead the development and execution of the organization’s financial strategies, translating business strategic priorities into financial plans and performance targets. S/he will oversee execution discipline, while providing enterprise-level insights and stewardship to support financial prudence and sound financial decision-making, to spur growth, resilience and overall financial success.

DUTIES & RESPONSIBILITIES

Strategy Formulation and Execution

• Together with the CEO and senior leadership team, participate in the formulation of the business strategy, ensuring alignment between strategic ambition, financial capacity, and risk appetite
• Translate organization strategy into clear financial, operational, and performance frameworks that enable execution and accountability
• Lead the development of multi-year business and financial plans that support strategic priorities and growth objectives
• Monitor and evaluate strategy execution through performance data, financial results, and leading indicators, recommending course corrections where required
• Provide rigorous strategic challenge and insight to executive and Board discussions, grounded in financial, market, and operational analysis
• Ensure strategic initiatives are appropriately funded, sequenced, and governed to deliver intended outcomes.

Planning, Financial Strategy, and Business Leadership

• Lead the organization’s financial strategy in alignment with overall business objectives and strategic priorities
• Plan for appropriate investment opportunities for excess funds in line with risk and return expectations
• Support the CEO and senior leadership team in developing short, medium and long-term financial plans that enable strategy execution
• Provide data-driven financial advice to senior management on profitability, sustainability, and growth opportunities
• Control and evaluate the organization’s fundraising plans and capital structure to support strategic flexibility and resilience
• Lead budget planning, monitoring, and control processes across the organization, ensuring budgets are strategy-driven rather than purely cost-based
• Set up, oversee, and continuously improve the organization’s finance IT and financial management systems to support decision-making and execution
• Review, develop, and update finance policies to support effective governance, accountability, and strategic agility.

Financial Analysis and Performance Management

• Lead enterprise-wide financial and performance analysis to assess progress against strategic objectives
• Analyze financial performance, trends, and variances to identify strategic risks, opportunities, and value creation levers
• Assess financial strengths and weaknesses of the organization and recommend corrective actions or strategic enhancements
• Provide regular management and Board reporting with clear, decision-oriented insights, implications, and recommendations
• Support revenue growth, margin improvement, and cost-efficiency initiatives through robust financial and commercial analysis
• Act as a thought partner to the CEO and executive team on performance trade-offs and prioritization.

Data Analytics and Decision Support

• Lead the use of financial and operational data as a strategic asset for enterprise decision-making
• Ensure availability, integrity, and relevance of financial and performance data across the organization
• Strengthen analytics capability within the finance function to move from reporting to insight and prediction
• Integrate financial and non-financial data to provide a holistic view of organizational performance
• Translate complex data into clear, actionable insights for the CEO, Board, and non-financial leaders.

Cost and Resource Management

• Conduct annual and ad-hoc reviews of contracts and expenditure to ensure value for money and strategic alignment
• Lead cost optimization initiatives that balance financial discipline with strategic delivery and growth
• Ensure resources are allocated in line with organizational priorities and strategic outcomes
• Determine current and future resource requirements to support sustainability, scalability, and execution capacity.

Legal, Regulatory, and Governance Compliance

• Provide executive oversight of tax compliance and regulatory obligations
• Ensure full compliance with all statutory, regulatory, and governance requirements
• Oversee preparation and presentation of statutory, regulatory, and management reports
• Approve significant financial commitments, LPOs, payments, and purchase requisitions in line with policy and delegated authority
• Lead annual audit planning, coordination, and resolution of audit findings
• Act as a key assurance provider to the CEO and Board on financial governance and control.

Cash Flow and Financial Resilience Management

• Lead cash flow forecasting, monitoring, and control to ensure financial resilience
• Hold regular financial and performance review meetings with the CEO
• Ensure sufficient liquidity to meet obligations, manage volatility, and maintain appropriate cash buffers
• Oversee billing, collections, and debt management to protect cash flow and reduce financial risk
• Anticipate and manage cash-related risks arising from strategic initiatives or external factors.

Administration Support Oversight

• Provide executive oversight of the organization’s administrative function to ensure operational efficiency and service excellence
• Supervise and guide the Administrative Officer and office support staff to ensure effective office management and service delivery
• Ensure administrative systems, policies, and procedures support governance, accountability, and smooth day-to-day operations
• Oversee procurement administration and general office controls to ensure value for money and compliance with approved policies.

Professionalism, Ethics, and Executive Effectiveness

• Communicate clearly and credibly with staff, senior leadership, and the Board on performance, risks, and trends
• Manage key financial and strategic stakeholders including banks, vendors, shareholders, regulators, and partners
• Build a high-performing finance and administration function aligned to organizational values and strategy
• Uphold the highest standards of professional ethics, integrity, and judgment
• Leverage technology and digital tools to enhance productivity, insight, and reporting quality.

Finance Policy Formulation, Implementation and Maintenance

• Develop Finance policies and procedures within company guidelines, and provide guidance to management and staff on the interpretation and implementation of the same 
• Act as a liaison for feedback and communication between business functions and the Finance Division in order to play an integral role in the coordination of financial management activities within the business 
• Brief new managers and employees about finance policies and procedures
• Provide sound and effective advice on all financial issues and support managers on issues related to financial reporting, budgeting, adherence to reporting standards and regulatory requirements
• Provide technical advice and knowledge to others within the Finance Division
• Maintain awareness and knowledge of financial practices and reporting and accounting standards (IFRS/IAS/SIC/IFIRC) and provide suitable interpretation to all relevant stakeholders.

Financial Risk Management

• Champion the analysis of the organization’s liabilities and investments
• Decide on investment strategies by considering cash and liquidity risks
• Understand and mitigate key elements of the company's financial risk profile
• Monitor all open financial legal issues involving the company, and legal issues affecting the industry
• Construct and monitor reliable financial control systems
• Maintain appropriate insurance coverage
• Ensure that the company complies with all financial legal and regulatory requirements and that all relevant licenses, legal and regulatory requirements are procured, valid and publicly appropriately displayed as required
• Ensure that financial record keeping meets the requirements of auditors and government agencies.

Operational Excellence

• Maintain knowledge in the department, keeping it up to date with the latest training practices, trends, and technologies
• Model best practices in technology and operations activities in order to ensure maintenance of top-notch performance
• Update job knowledge by participating in conferences and educational opportunities; reading professional publications; maintaining personal networks; participating in relevant professional associations
• Maintain quality service by establishing and enforcing company policies, procedures, standards and values
• Put in places proper quality control checks and balances within each project and operations activity assigned to the function. 
• Regularly report on key performance indicators (KPIs) for all technology led projects and operations, demonstrating progress towards established goals and identifying areas for improvement.

Any other duties as required by the CEO and the Board.

EDUCATION SKILS KNOWLEDGE & EXPERIENCE REQUIRED

• Bachelor’s Degree in a Business related field such as Commerce, Economics, Accounting, Finance, Business Management or any other relevant field from a recognized university
• Master’s Degree in Business Administration of Financial Management from a recognized university an added advantage
• Current member - Institute of Certified Public Accountants (Kenya) or equivalent professional membership in good standing
• A qualified Chartered Public Accountant of Kenya (CPAK) or any other equivalent qualification as applicable
• At least ten (10) years of financial management experience, 5 of which must be at senior management level focused on leading a Finance & Strategy function within the financial services environment with demonstrable experience in managing a diverse range of stakeholders within business
• High emotional intelligence, negotiation prowess, and the ability to communicate complex financial concepts to non-financial stakeholders
• Deep understanding of and the ability to interpret financial and business strategy models
• Demonstrated ability in setting strategy, driving performance, consistently producing superior results, cultivating ownership while enforcing company policies and applicable laws
• Ability to develop innovative financial solutions to complicated process issues in a fast-paced and demanding environment
• A collaborative management style and a strong business partnering orientation
• Knowledge of applicable laws and regulations within the field of finance with a strong understanding of business issues and opportunities
• Demonstrated success in developing strategy, driving process improvement and effective partnering to lead critical and significant business change and transformation preferably with a component speaking to a digital path and agile capability, and created and/or implemented supporting Finance and business strategies
• High level of integrity, confidentiality, trust and dependability with a strong sense of urgency 
• Results-oriented, entrepreneurial, self-motivated, self-starter, who is flexible and adaptable to rapid change and has the ability to work in a fast-paced, high demand environment
• Experience translating KPIs to teams to get buy in and results
• Supervisory/team management experience – led a team of at least 5+ people
• Strong interpersonal, communication and presentation skills with a good focus on organization, and enhanced multitasking abilities
• Tech-savvy with the ability to leverage financial systems and tools with a good grasp of financial and procurement management systems
• Ability to communicate information, whether technical or non-technical to stakeholders in a clear and concise manner
• Influential within the Finance sphere with the ability to bring together stakeholders
• Strong financial and accounting knowledge
• Highly analytical with strong problem-solving skills
• Strong leadership with ability to delegate, motivate, and inspire teams. Collaborative team player.