25 May 2023
30 June 2023
The Finance Director will be a qualified accountant with experience in managing risk, finance and treasury duties to a high level with relevant experience working in financial services throughout their career. The Finance Director will possess extensive experience driving growth with a key focus on P&L management, financial strategy, funding to deliver targets. The Finance Director has a strong background working in fast paced and complex financial services organisations with high levels of foreign currency exposure and ensuring robust reporting, treasury, compliance and controls are in place.
The Finance Director provides leadership and direction to GMC and GuarantCo’s (“GCo” or “GCo’s”) financial strategy and agenda. The scope of the work is designed to be flexible and not fully predefined to allow for the content to evolve and be adjustable. The Finance Director will actively work to achieve the core financial deliverables, which will be predefined by the Board’s of GMC, GCo and PIDG.
The role holder will also be a member of GMC’s Portfolio Committee, Risk & Finance Committee, PIDG Assets and Liabilities Committee (ALCO) and Senior Management Team (SMT).
GuarantCo mobilises private sector local currency investment for sustainable infrastructure projects and supports the development of capital markets in lower income countries across Africa and Asia. GuarantCo is part of the Private Infrastructure Development Group (PIDG) and is funded by the governments of the United Kingdom, Switzerland, Australia and Sweden, through the PIDG Trust, the Netherlands, through FMO and the PIDG Trust, France through a stand-by facility and Global Affairs Canada through a repayable facility.
GuarantCo is rated AA- by Fitch and A1 by Moody’s. The company’s vision is to become a centre of excellence for local currency credit solutions for infrastructure finance in lower income countries thereby assisting with the alleviation of poverty.
GuarantCo’s portfolio and the investment strategy, set by PIDG, are managed and executed by the outsourced fund manager, Cardano Development, through GuarantCo Management Company (GMC). GuarantCo is head-quartered in the City of London, with regional hubs in Nairobi and Singapore.
The GMC team is small, diverse, focused, collaborative and action orientated. We are looking for candidates who have the experience to deliver against the responsibilities of the role and who are passionate about making a difference whilst working in an entrepreneurial and innovative environment.
- Provide leadership to GMC and GCo Board’s finance and accounting strategy, to optimise GMC and GCo’s financial performance and strategic position.
- Lead the GMC and GCo strategic business planning and budgetary processes, leading a process that fully engages all areas of the business, challenging assumptions and decision making as appropriate and providing financial analysis and guidance on all activities, plans, targets and business drivers.
- Lead on the development of financial plans to align with GMC and GCo’s long term strategic goals.
- Lead on in-year forecasting to ensure that budgets are being met, and that the management team are able to make decisions that drive the direction of the business with the provision of timely information.
- Provide and present informative Board and Committee papers for GMC and GCo, as required.
- Lead/contribute on strategic projects/plans in areas such as liquidity management, capital requirements and fair value methodology.
- Collaborate with the Investment and Portfolio teams, and with PIDG, to ensure financial sustainability is a key consideration on transactions, through considering pricing, return on equity and P&L impact, alongside strategic and developmental objectives.
- Contributes to and delivers against the GuarantCo Business Plan.
- Leads and manages the Finance Team to deliver high-quality results, taking full ownership of complex issues and outcomes, effectively managing pressure situations, while ensuring GMC’s values and PIDG standards are maintained.
- Always leads by example and sets the tone for the culture of the organisation. Demonstrates accountability and actively encourages everyone to operate with the highest level of integrity. Promotes exemplary working behaviors with a strong focus on collaboration. Identifies and resolves potential barriers to collaboration among teams and functions.
- Promotes a learning organisation and demonstrates a commitment to the professional development of self and of the Finance Team.
- Seeks and exploits opportunities to introduce improvements in the way we work.
- Seeks to influence at the highest level across the business. Develops relationships with GMC and PIDG leaders and/or experts to support the vision of the organisation, and delivery of the Business Plan.
- Promotes strong governance through actively inviting feedback and constructive criticism of deliverables and decisions by peers and PIDG to ensure quality and best practice is being met.
- Is viewed by the GMC team, PIDG and the market as a trusted Finance leader and partner.
Statutory and internal reporting
- Oversee completion of the GCo quarterly management accounts and Annual Statutory Accounts under IFRS
- Oversee completion of the GMC quarterly management accounts and Annual Statutory Accounts under FRS 102 and branch accounts under local requirements.
- Lead on the relationship with the external auditors, ensuring satisfactory interim and final audit processes, that complete and accurate audit files are provided, and that all areas of concern are addressed on a timely basis.
- Working with the Co-Heads of Legal, ensure that GMC and GCo meet the regulatory requirements of all statutory bodies in any of the jurisdictions that they operate.
- Lead on the provision of informative and timely financial management information, providing the management team with key information to support business decisions, including assessment of performance against targets and recommendations for changes to strategy as required.
- Oversee all external reporting, ensuring timely and accurate reporting to GMC and GCo stakeholders, including funders, debt providers and PIDG.
- Monthly reporting
- Full ownership of GMC and GCo’s accounting function, policies, systems, and processes.
- Ensure that GMC and GCo’s financial systems are robust, compliant and support current activities and future growth.
- Develop and enhance existing finance and operating processes, ensuring they are fully documented and adhered to.
- Supporting HR with the payroll function, including payroll taxes.
Treasury management and foreign exchange
- Responsible for GMC and GCo treasury management and lead on defining GCo’s cash management policies to optimise the position.
- Provide input and advice to the Investment and Portfolio teams on the accounting, tax and treasury aspects of the deals within the GCo pipeline and portfolio.
- Lead on the relationship with rating agencies, including the annual review process.
- Liaising with Owners, especially FCDO, in partnership with PIDG
- Being part of the PIDG finance leadership team and supporting group wide finance initiatives
- Manage relationship with GMC and GCo’s tax and accounting advisors, investment management companies, custodians and bankers. Oversee the annual review of key suppliers and lead on quarterly review meetings with DLM (Trade Manager System provider).
- Support the HR and Office Management team to manage GMC’s insurance policies including, but not limited to, D&O, employer liability, kidnapping and ransom, professional indemnity, office contents and personnel insurances.
- The Finance Director has a responsibility to foster and maintain a culture that encourages a collaborative approach between all stakeholders involved to deliver GMC and GCo’s financial and accounting strategy.
- Any other reasonable duties as may be assigned by GMC from time to time.
This role requires knowledge of accounting principles, financial products and services, financial systems, frontier markets, stakeholder engagement processes, as well as persuasion and patience to deal with the setbacks that are characteristic for funds that operate in emerging markets.
- Degree educated or equivalent with formal accounting qualifications; ACA, ACCA or equivalent
- Experience in Finance Director role in a small to medium sized business – ideally development finance experience or working in financial services.
- Experience with IFRS and FRS102
- Proficient in the use of desktop programmes including Microsoft Excel, Outlook, and Word
- Experience using finance systems and ability to pick up new systems quickly
- Exceptional communication skills, with an ability to express complex issues succinctly and clearly
- Experience of overseeing, motivating and mentoring team members
- Personable and professional, adept at building relationships
- Fast-paced, flexible and resilient
- Passion for complex business challenges
- Self-starter, able to collaborate closely with colleagues.
- Organised and able to manage competing priorities.
- Entrepreneurial, but with a strong ethical foundation.
- Resilient, not put off by set-backs.
- Demonstrable cultural awareness – ideally experience of working in an international environment.
- Passion to make a difference in frontier markets.
- Familiarity and experience with IFRS 9
- Treasury management
- FX exposure
Don’t meet every single requirement? Studies have shown that women and people of colour are less likely to apply to jobs unless they meet every single qualification. At GMC, we are dedicated to building a diverse and inclusive workplace and culture, so if you’re excited about this role but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyway. You may be just the right candidate for this or other roles.
Valuing diversity is essential to our work. We aim to act in accordance with and promote equality legislation by avoiding unjustified discrimination and recognising discrimination as a barrier to equality of opportunity, inclusion and human rights. All GMC employees are required to ensure their behaviour is consistent with our policies. GMC is committed to a policy of equal opportunity and is keen to reflect diversity at every level within the organisation.
Interested in applying for this role? Please submit your CV and cover letter below: