INTRODUCTION
The Caribbean Development Bank (CDB/the Bank) is seeking an experienced, strategic and mission-driven Chief Financial Officer (CFO) to lead all aspects of the finance and accounting functions of the Bank. They will lead a small team of dedicated accounting professionals and be a key CDB leadership team member. They will support the Bankโs leadership in providing key reporting to the Board of Directors and its Oversight Committee to ensure sound business decisions.
THE DEPARTMENT
The Finance Department is responsible for the Bank's financial position through effective planning and management of the functions of financing, investing, general and cost accounting, budgeting, cash flow analysis, financial analysis and reporting. The Department is also responsible for developing and administering financial policies and procedures and strengthening the Bankโs infrastructure and capability to mobilise resources to support its development agenda. The Department also has responsibility for corporate procurement and asset risk insurance.
THE ROLE
Reporting directly to the Vice President of Finance and Corporate Services (VPFCS), the CFO will lead all financial aspects of the Bank, including financial planning, financial reporting, budgeting, accounting, treasury, borrowings from the capital markets and investment activities, and asset liability management. The CFO is a senior management team member and will serve on several management committees. As a strategic thought partner, the CFO will work closely with the leadership team to drive financial performance and optimize resource mobilisation strategies.
KEY RESPONSIBILITIES
The responsibilities of the CFO include:
- Providing financial leadership in determining strategic business direction, financing, capital market, and longer-term strategies vital to the Bank's future performance.
- Maturing behaviours across the Bank to execute strategic and financial objectives while simultaneously creating a risk-intelligent culture.
- Protecting and preserving the critical assets of the Bank and accurately reporting on the financial position and operations to internal and external stakeholders.
- Advising on trends, financial risks and opportunities and making recommendations for strengthening the overall financial framework of the Bank.
- Assessing and advising the Bankโs leadership on the financial implications of business strategies, decisions and assumptions.
- Playing a leading role in mobilising resources for public and private interventions in coordination with the VPFCS.
- Optimising the utilization of the Bankโs risk-bearing capacity between non-core (treasury) and core (lending) activities.
- Developing financial policies that strengthen the Bankโs financial governance framework and monitoring compliance with policies, associated procedures and standards governing the management of all the Bankโs funds.
- Driving the timely completion and presentation of financial statements and the Bankโs compliance with financial reporting and control requirements.
- Monitoring compliance with corporate procurement and related guidelines, ensuring value for money in procurement activities across the Bank.
- Ensuring appropriate risk mitigation for key elements of the Bankโs risk profile.
- Leading the annual and multi-year budget planning and programming for the Bank.
SELECTION CRITERIA
The role requires a dynamic leader who can provide operational and strategic direction, identify opportunities and issues, and communicate proactively to drive effective solutions. They will be seen as a โhands-onโ CFO, providing leadership in all aspects of the Bankโs accounting, finance, treasury, resource mobilisation and administrative support functions. The CFO should have executive presence, high ethical standards and an uncompromising sense of integrity.
The ideal candidate should have:
- A graduate degree in finance and/or business administration or related disciplines.
- A professional finance or accounting qualification such as ACCA, CA, CFA, CPA, CIPFA, CMA or CGA.
- Current membership in a professional accounting or financial body.
- Significant experience and track record of success in progressive financial leadership positions, with experience working at the executive level with Boards and Finance and Audit Committees.
- Demonstrated record of successfully developing and executing financing and resource mobilisation strategies in a complex, multi-stakeholder organisation.
- Comprehensive knowledge of capital and money markets, including treasury and investment functions, especially in relation to fixed income instruments.
- Sound knowledge of the International Financial Reporting Standards, and a thorough understanding of risk operations within a financial environment.
- Demonstrated skills and experience working within an ERP environment.
- Good understanding of the operational environment of International Finance Institutions (IFIs).
Function-specific Competencies
The CFO should demonstrate ability to:
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- Represent the Bank in key discussions with various stakeholders (investors, borrowers, rating agencies, shareholders and other development financing partners) on financial matters.
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- Lead, motivate and guide reporting staff.
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- Represent the Bank in key discussions with various stakeholders (investors, borrowers, rating agencies, shareholders and other development financing partners) on financial matters.
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- Good understanding of the operational environment of International Finance Institutions (IFIs).
- Demonstrated skills and experience working within an ERP environment.
- Sound knowledge of the International Financial Reporting Standards, and a thorough understanding of risk operations within a financial environment.
- Comprehensive knowledge of capital and money markets, including treasury and investment functions, especially in relation to fixed income instruments.
- Demonstrated record of successfully developing and executing financing and resource mobilisation strategies in a complex, multi-stakeholder organisation.
- Significant experience and track record of success in progressive financial leadership positions, with experience working at the executive level with Boards and Finance and Audit Committees.
- Current membership in a professional accounting or financial body.
- A professional finance or accounting qualification such as ACCA, CA, CFA, CPA, CIPFA, CMA or CGA.
- A graduate degree in finance and/or business administration or related disciplines.
- Leading the annual and multi-year budget planning and programming for the Bank.
- Ensuring appropriate risk mitigation for key elements of the Bankโs risk profile.
- Monitoring compliance with corporate procurement and related guidelines, ensuring value for money in procurement activities across the Bank.
- Driving the timely completion and presentation of financial statements and the Bankโs compliance with financial reporting and control requirements.
- Developing financial policies that strengthen the Bankโs financial governance framework and monitoring compliance with policies, associated procedures and standards governing the management of all the Bankโs funds.
- Optimising the utilization of the Bankโs risk-bearing capacity between non-core (treasury) and core (lending) activities.
- Playing a leading role in mobilising resources for public and private interventions in coordination with the VPFCS.
- Assessing and advising the Bankโs leadership on the financial implications of business strategies, decisions and assumptions.
- Advising on trends, financial risks and opportunities and making recommendations for strengthening the overall financial framework of the Bank.
- Protecting and preserving the critical assets of the Bank and accurately reporting on the financial position and operations to internal and external stakeholders.
- Maturing behaviours across the Bank to execute strategic and financial objectives while simultaneously creating a risk-intelligent culture.