Chief Financial Officer (CFO) at ASA Microfinance (Rwanda) Limited

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ASA Microfinance (Rwanda) Plc. is a subsidiary of ASA International which is a Public Limited Company, had been establishing Microfinance Institutions (MFIs) in different countries of Asia and Africa by playing role in poverty alleviation and women empowering and has extensive microfinance programs globally.

Currently, ASA Rwanda is operating through 30 branches in different corners of the country and simultaneously executing the following objectives:

Creating opportunities which give access to credit to low-income entrepreneurs in rural areas of Rwanda;
Contribute to the acceleration of sustainable development of Microfinance in Rwanda;
Create employment opportunities and professional training for Rwandan Staffs.
In this regard, we are looking for competent, dynamic, self-motivated professional, highly-analytical and possess excellent written and verbal communication skills staff to fill up the position of Chief Financial Officer.


ASA International

Job Title

Chief Financial Officer (CFO)



Reporting to:

Managing Director with a dotted line to Group CFO




An integral part of the ASA International management team. In charge of managing day to day financial management process, as well as providing strategic direction to ASAI management team. Emphasis on Reporting, Financing, Budgeting, Group Reporting Cohesion, Development, and Timeliness.


• Financial Strategy, Risk Management, and Regulatory Requirements:

Plays a key role in the development of finance strategy for the Operation. Develop operating plans for Accounts, Payroll, Data Management and Budgeting in collaboration with local and group finance and accounts team. Sets performance objectives for the team and creates annual execution plans. Works closely in securing resources required to align department activities to overall organizational strategy. Actively identifies and manages financial risks by overseeing ALCO and ALM with effective controls. Correspond to local regulations, laws, and taxes.

• Financial Management: Lead the development of an annual budget process. Liaise strongly and regularly with group budgeting prepared by the Budget team. Monitor annual planning and budgeting exercise of core funds. Coordinate budgets and forecast preparation. Seeks approval and guidance on a budget plan from Country CEO/MD and Group CFO. Manage and supervise treasury functions and investment portfolios in the ASAI country level. Review lender documents, lender reporting.

• Financial Control and Reporting: Monitor teams for timely execution of process activities (e.g. processing vouchers, releasing payments, manage credits) and adherence to policy guidelines. Track progress against the execution plan and monitoring framework of each team. Review finance metrics, covenants and incident reports. Take corrective action with CEO/MD to minimize deviations from plans. Provide key financial and management reports on time. Reviews and Signs off on timely Reporting Packs sent to Group. Manage the Statutory and Group Audit and Review process. Introduce efficient measures in Reporting.

• IT System Management: Closely work with the IT team to ensure all financial reports are in order. Work to digitalize processes in the system and ensure a smooth transition into IT systems. Develop the system.

• Process Improvement and Knowledge Management: Periodically review and revise Finance Policies and Procedures to ensure consistency with standards and best practices. Collect feedback from team members and internal customers on the efficacy of activities. Identify opportunities to improve the effectiveness of processes across departments in order to continuously improve the quality of service. Apply internal control procedures to minimize risk. Participate in bi-weekly video conferencing with Group CFO on recent transactions, updates, progress, ideas, and issues.

• People Management: Identity, prioritize and deploy action items for competency development of team members; Cascade department goals to individuals, allocate resources and appraise performance against set targets. Guide on-the-job training for team members. Work closely with other departments. Identify, develop and promote high performers in a team in order to build an efficient team.


Need to work under constant time pressure to ensure all deadlines are met.
Working with a different group of stakeholders and manage expectations.
Manage dotted relations at the Group level.


Maintain and Strengthen financial control in ASAI Countries
Ensure flawless and timely audit completion at both statutory and group level
Ensure on time high quality reporting for Statutory and Group level.
Diversify funding sources in country level and manage investor/lender relations
Effectively comply with all fiscal stipulations
Create or work towards new funding sources for business
Preparation and Submission of Board and Audit committee documents on time
Local Board reporting, presentations, and board pack


Decision taken independently:
Day to day operational issues on managing finance and accounts department of the respective operation

Decision referred to the Supervisor:
On major strategic issues impacting on country and group profitability


Managing Director in consultation with Group CFO


• Special assignments by Board Chair/Executive Directors/Group Chief Financial Officer/Directors


Direct: (Accounts Officer and Assistant Accounts Officer)

Indirect: (Branch Heads)


Graduated in Finance or Accounting (Bachelor’s Degree) but a Post-graduate Degree is preferred.

Being a Certified Public Accountant (CPA) or fully completed ACCA with proofs.


Proven working experience in similar positions not below five (5) years;
Solid experience and having a certificate of Modern Applied Banking Software and MS Office particularly MS Excel;
The ability of implementation of the group policy for the group reporting;
Demonstrable ability to communicate, present and influence key stakeholders at all levels of the company, including executive;
Proven ability to juggle multiple account management projects at a time, while maintaining sharp attention to details;
Excellent listening, negotiation and presentation skills;
Strong verbal and written communication skills;
Possess excellent understanding of MFI, banking and financial regulations;
Ability to work independently with minimal supervision, accept and discharge substantial responsibilities, prioritize work assignments, meet deadlines, and exercise professional judgment;
Be Rwandan by Nationality.

Cover Letter included the candidate’s expected salary; Detailed CV; Copy of Certificate, Diploma or Degree; Work certificates from previous employers; Any other document that may prove a candidate’s competency to the post; Copy of ID Card Applications should be addressed to the Managing Director of ASA MICROFINANCE (RWANDA) PLC located in KIGALI City, GASABO District, Plot No. – 95, NTORA Village, KG 784 St. RUHANGO Cell, Gisozi Sector, Kigali, Rwanda.

Only hard copy applications are accepted and submitted at the Head Office Reception not later Friday, 20th March 2020 at 5:30 PM. Only, shortlisted candidates to sit for written and verbal tests will be communicated within one week after.

“ASA International aims to attract and select a diverse workforce, ensuring equal opportunity to everyone, irrespective of race, age, gender, class, ethnicity, disability, location, and religion.

Qualified women are particularly encouraged to apply.”

Done at Kigali on 10th March 2020


Senior Human Resources Officer

ASA Microfinance (Rwanda) Plc