BrightLife Uganda—a FINCA International company—is a social enterprise which combines innovative financing, community networks, and the highest quality clean energy brands to improve lives for the BOP and unlock the productive potential of Ugandans. BrightLife actively seeks out the best-in-class renewable energy products from both proven and up-and-coming brands. Our product line includes a growing range of solar home systems, entry-level solar lights, solar appliances, and clean cookstoves, some of which can be purchased in pay-as-you-go (PAYGo) installments, and are sold through a network of direct sales agents, community networks, and strategically selected distribution partners. More than 150,000 Ugandans have already utilized BrightLife’s unique distribution and financing model to better their lives.
BrightLife is uniquely linked to the FINCA International family of social enterprises, which includes 20 financial institutions across four world regions and more than 30 years of experience in reaching underserved communities and individuals. FINCA’s financial service operations in Africa span DR Congo, Malawi, Nigeria, Tanzania, Uganda, and Zambia.
The Chief Financial Officer (CFO) is directly responsible for managing all finance and accounting activities of the company and supervising its finance staff. S/he will ensure that the finance and administration activities of the organization are in pursuit of its mission with minimum risk and maximum efficiency. Strategic emphasis is placed on managing credit risk of the company’s core business – PAYGo solar home system financing. Furthermore, raising both debt and equity funds for BrightLife will be one of the core responsibilities of this role. As a member of the Management Team, s/he shares responsibility for the overall performance and participate in making decisions on material issues.
S/he will spearhead the development and implementation of financial processes, manage financial reporting, accounts payable, accounts receivable, cash management, inventory management, tax management and budgeting. Special emphasis will be put on fundraising and credit risk management. The position requires strong accounting knowledge, analytical skills, a high-level of attention to detail and capability to make decisions and act independently.
Key Roles & Responsibilities
1. Management of the Finance and Administration Department
• Analyze and control existing policies, procedures, and standards to ensure they are effective and efficient in managing risk arising in the finance and admin function
• Liaise with the Operations department in the management of procurement, stock movement, and reconciliation of inventory against sales and bank in line with the stipulated financial controls
• Manage the flow, control, and accounting of transactions and payments (cash, mobile money, receivable from distributor, etc.)
• Prepare and lead debt fundraising for BrightLife including managing relationships with key stakeholders such as institutional lenders, equity partners and donors
• Support in the grant and other funding request application process by availing the requested financial documentation and reports
• Manage all financial transactions with creditors, banks, donor
3. Credit Risk Management
• Leading the credit portfolio management by developing KPIs and providing business intelligence to other departments
• Computation of monthly debt provisional reports and continuous monitoring of portfolio at risk metrics
• Develop, implement and monitor loan write-off procedures
• Periodical updates on portfolio performance
• Liaison with the data specialist and CEO on the development of loan portfolio reporting
4. Accounting and Treasury Activities
• Maintain accurate invoice tracking and ensures that invoices/expense reports are processed accurately and in a timely manner
• Review all requests for payments for accuracy, proper supporting documentation and compliance with established policies and process payments
• Create cash flow forecasts and ensure availability of sufficient resources for lending in the required currency
• Reduce risk of foreign exchange movements through hedging and other applicable means
5. Compliance and Audit
• Ensure compliance with the charter / bylaws of the subsidiary, policies of the parent organization, and any applicable regulation, and with Finance and Accounting standards (IFRS)
• Ensure compliance with financial covenants in agreements with creditors and donors
• Use possibilities of IT most efficiently; propose modifications to IT programs/procedures that increase efficiency and/or lower risk
• Facilitate internal and external audits in conformity with our parent organization and other government agencies as required. Prepare annual financial statements for the auditors
• Ensure compliance to the financial laws within the country’s jurisdiction (WHT, VAT, PAYE, LST, NSSF)
6. Financial Reporting and Analysis
• Prepare balance sheets, statements of profits and losses, statements of cash flows, assessment of financial performance, periodical management accounts
• Create/develop appropriate reports and analysis on topics like operational and financial efficiency, liquidity, credit, product costing, plan-fact comparison, historical performance, etc.
• Analyze financial data and develop financial analysis as a key management tool. Translate data into actionable measures that reduce risks, improve efficiency, reverse negative tendencies, or exploit new opportunities
• Develop, maintain, and continuously improve BrightLife’s financial modelling tool and forecasts in liaison with the Chief Executive Officer
The Chief Finance Officer will oversee all activities of the staff within that department. At present and in the near-term, the Chief Finance Officer will have 2 direct reports including finance manager and an accountant. Dotted line to the HR manager. As the organization develops, functional managers will be brought on board to oversee areas like accounting and administrative services.
To perform the job successfully, an individual should demonstrate the following competencies:
➢ Analytical. Synthesizes complex or diverse information; collects and researches data; uses intuition and experience to complement data; designs workflows and procedures
➢ Business Acumen. Demonstrates knowledge of working procedures; aligns work with strategic goals; understands implications of decisions; demonstrates knowledge of market and competition
➢ Teamwork. Open to others’ views; contributes to building a positive team spirit
➢ Interpersonal Skills – Focuses on solving conflict, not blaming; maintains confidentiality; listens to others without interrupting; keeps emotions under control; remains open to others’ ideas and tries new things
➢ Managing People – Includes staff in planning, decision-making, facilitating and process improvement; Takes responsibility for subordinates’ activities; makes self-available to staff; provides regular performance feedback; develops subordinates’ skills and encourages growth; solicits and applies customer feedback (internal and external);
➢ Quality Management. Looks for ways to improve and promote quality; demonstrates accuracy and thoroughness; fosters quality focus in subordinates; monitors own work to ensure quality.
➢ Ethics. Treats people with respect; keeps commitments; inspires the trust of others; works with integrity and ethically; upholds organizational values, policies and procedures
➢ Organizational Support. Follows policies and procedures; supports organization’s goals and values
➢ Adaptability. Adapts to changes in the work environment; Manages competing demands; changes approach or method to best fit the situation; able to deal with frequent change, delays, or unexpected events
➢ Professionalism. Approaches others in a tactful manner; reacts well under pressure; treats others with respect and consideration regardless of their status or position; accepts responsibility for own actions; follows through on commitments
➢ Cost Consciousness. Works within approved budget; develops and implements cost saving measures; contributes to profits and revenue; conserves organizational resources.
➢ Oral Communication. clear and persuasive speaker; listens and gets clarification; demonstrates group presentation skills; participates in meetings
➢ Written Communication. Writes clearly and informatively; presents numerical data effectively
Education and Experience
➢ Bachelor’s degree in accounting, business, or finance. Master’s degree in these areas is advantageous
➢ Certified accountant (ACCA, CPA, or chartered accountancy)
➢ At least 7 years in financial control or financial management, preferably within high-growth B2C (direct-to-consumer) sales and service companies or sectors such as in banking and insurance
➢ Highly conversant in IFRS standards
How To Apply
To apply, please send your CV to Laurynas.Vaiciulis@finca.org, cc: Nelson.Mugisha@finca.org and Martha.Kakima@finca.org