Network Finance Director, VisionFund International

at  World Vision International

VisionFund’s work seeks to end intergenerational poverty through financial products and services. We’re about the long-term change that ensures children can break free of the poverty cycle, for good.
By supporting people and communities living in poverty to develop and grow their livelihoods, VisionFund is catalysing sustainable economic growth to break the cycle of poverty, so that children can reach their potential as communities thrive.
Learn more about us:
visionfund.org
VisionFund is World Vision’s microfinance provider serving vulnerable clients through loans, savings, and insurance. We enable families to grow their livelihoods in hard to reach, rural locations in 25 countries so that caregivers can create secure futures for their children. We believe in brighter futures for children; empowering families to create incomes and jobs; unlocking economic potential for communities to thrive.
VisionFund is committed to forging a new path that will help us achieve our goal of positively impacting the lives of 30 million children through our strategy, Our Livelihood Promise. Based on the results trend so far, we have realized we are not going to be able to achieve that goal with our current structure and operating model. This will requires us to reposition the Global Centre.
In light of the above, VisionFund International has a Network of 25 Microfinance Institutions which will be managed in a new structure of 6 regions of 3-5 MFIs, usually within the same geographic region. There will be a Regional Director for each region, each of whom will report to the VFI Chief Operations Officer (COO), and a Region Finance Director (RFD) for each region, each of whom will report to the Network Finance Director (NFD), who in turn will report to the VFI Chief Financial Officer (CFO).

The NFD will line manage the RFDs (who each also have a matrix reporting line to a Regional Director) with the purpose of ensuring:

• Robust oversight of the financial performance of the Network
• Effective processes, internal controls and systems are in place in all MFIs
• Compliance issues in relation to internal VFI finance policies and external regulatory, legal and tax requirements across the Network are followed up and addressed and overall levels of compliance improve
• Capable, competent and trained finance staff are in post across the Network and resourcing gaps are addressed (including to support crisis situations and transactions)
• Process improvements are identified and best practice is shared across the Network

Requests for debt and equity funding are well analysed and motivated to the Impact Investment Committee (IIC) and portfolio recommendations are made (such as changes in legal or ownership structure, or need to consider wind downs, portfolio sales, exits etc.).
Key Responsibilities

Oversight of Network financial performance

• Monthly review of MFI financial performance, rolling reforecasts and accompanying RFD narrative.
• Convene monthly performance review calls for each region (or region) with VFI GC attendees and ensure all key performance issues, areas of non-compliance and risks are highlighted.
• Ensure actions from monthly meetings are followed up promptly by RFDs and MFI CFOs.
• Make recommendations to improve monthly reports so that financial performance can be fully assessed.
• Ensure any material issues arising between calls are promptly escalated to the VFI CFO and COO.

Effective MFI finance processes, internal controls, systems and compliance

• Review monthly reports by the Finance Compliance Manager (or the RFDs or other project managers where applicable) in relation to:
• the status and progress of finance manual implementation
• compliance with other finance and risk policies and frameworks and rolling requirements (such as tax health checks by MFIs)
• timeliness of MFI reporting (MED, annual insurance survey etc.)
• the status of system implementation and upgrade projects
• the status of MFIs addressing and clearing internal and external audit findings.
• Discuss and review with the Finance Compliance Manager and RFDs regularly MFI compliance status and local regulatory, legal and tax tracking.

Strategic reviews, crisis response and ad hoc projects

• Review with RFDs all issues which arise in MFIs where the risk of financial loss is high (e.g. market changes, regulatory intervention, tax claims, freezing of bank accounts).
• Assess with RFDs, Regional Directors, VFI CFO and VFI COO plans to address these issues.
• Ensure that internal staff or external contractors with the required skills and experience are engaged as required.
• Approve the appointment of professional advisers.

Leadership, capacity building, performance management and training

• Model Christian leadership and VFI Core Values in all interactions.
• Participate in the leadership of the VFI GC Finance team along with the CFO, Finance Operations and Transformation Director, Global Asset Management Director and the Corporate Finance Director and contribute to the success of annual Finance team goals.

Knowledge, skills and experience

Preferred

• MBA or CPA or equivalent accounting qualification preferred.
• Audit or consulting experience is desirable.
• Experience working in a multinational and multicultural environment with proven cross-cultural effectiveness

Required

• Masters or advanced degree in finance or related subject
• Deep financial performance management and analysis experience with knowledge and skills developed over a minimum 10 years.
• Thorough knowledge and extensive experience (minimum 10 years) in the microfinance and/or banking sectors.
• Understanding of balance sheet risk management including interest rate risk, liquidity risk and foreign exchange risk as well as bank funding processes, regulatory compliance and contracting.
• Investment analysis and appraisal skills with experience of recommending investment decisions to senior leaders.
• Minimum 5 years’ experience of managing people at a senior level.
• Cross cultural sensitivity to engage with MFI staff and stakeholders across VFI global departments.
• Flexibility with working hours to contact people within wide time zones.
• Able to balance Christian values with commercial practices.
• Good project management and organisation skills.
• Able to simultaneously manage multiple priorities, projects and stakeholders
• Strong communication and influencing skills in written and oral forms.
• Able to lead and manage a virtual team.

Languages and Travel

• English is required and fluency in Spanish and/or French in addition
• Travel up to 25% of the time.

Applicant Types Accepted:
Local Applicants Onl

• Robust oversight of the financial performance of the Network
• Effective processes, internal controls and systems are in place in all MFIs
• Compliance issues in relation to internal VFI finance policies and external regulatory, legal and tax requirements across the Network are followed up and addressed and overall levels of compliance improve
• Capable, competent and trained finance staff are in post across the Network and resourcing gaps are addressed (including to support crisis situations and transactions)
• Process improvements are identified and best practice is shared across the Networ