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Financial Controller

Posted on: 20th January 2021

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Financial Controller


Enhancing Financial Innovation & Access (EFInA) is a leading financial sector development organisation working to promote financial inclusion in Nigeria. Established in late 2007, EFInA’s vision is to be the leader in facilitating an all-inclusive and growth-promoting financial system. EFInA is funded by the UK Government’s Department for International Development (DFID) and the Bill & Melinda Gates Foundation.

EFInA is well renowned within Nigeria’s financial sector for providing thought leadership in financial inclusion and championing the unbanked. Through funding and catalysing innovation, providing cutting-edge research, advocating for enabling inclusive policies and building capacity, EFInA has built a reputation as an ‘honest broker’ amongst both the private and public sectors.  Data from the EFInA Access to Financial Services in Nigeria surveys was a key source of information in the development of the Central Bank of Nigeria’s National Financial Inclusion Strategy; and is also widely used by a diverse range of stakeholders, including regulators, as a benchmark for financial inclusion in Nigeria. Furthermore, financial services providers use EFInA’s research to develop a range of relevant financial products through gaining insights and understanding of consumers’ needs.

EFInA aims to achieve its goals through four pillars namely: Research, Innovation, Advocacy and Capacity Building.

Primary Relationships

Reports to:                          Chief Operating Officer

Supervises:                         Finance Officer, Senior Finance Officer – Treasury, Financial Accountant

External Relationships:  External and donor Auditors, Finance Consultants, Donor Officers and Representatives, Financial regulators, Tax Authorities

Job Objectives

  • Ensure the Finance Policy Processes and Procedure is adequate and fully implemented in EFInA
  • Ensure accuracy and adequacy of all financial data and reports
  • Ensure the budget supports EFInA’s business plan and strategy
  • Ensures efficient and effective management of the accounting and finance function, accuracy and reliability of financial information, and the overall sound management of EFInA’s funding and expenditure
  • Ensure timely reporting of information to allow for an adequate response to issues/queries.

Job Responsibilities


Budgeting and Planning

  • Coordinate budgeting process and ensure compliance with the budget timelines.
  • Prepares comprehensive annual budgets for the COO’s approval, working with the operations and programme teams to prepare costed schedules, budget estimates and the detailed annual budget.
  • Review, challenge and finalise financial plans and budgets for the operations and programme team to ensure realistic and achievable targets in line with business objectives.
  • Prepare a quarterly forecast in order to review and adjust EFInA’s budgets as new business information emerges and to cater for the changing business context.
  • Prepare, analyse and investigate periodic budget/forecast variances, and manage budget/forecast performance through proactive engagement with budget holders.
  • Ensure that budget/forecast variances are kept to the range specified by EFInA’s funders.
  • Submit periodic variance analysis report to the Chief Operating Officer and to other stakeholders as may be required.

Monthly/Quarterly management reporting

  • Ensure all postings have occurred during the month.
  • Review monthly management reports prepared by the Financial Accountant, which include income statement, balance sheet, cash flow statements and explanation on variances.
  • Prepare financial input to the quarterly board reports.
  • Review and agree all financial schedules, reconciliations and presentation ensuring accuracy, completeness and compliance with finance policies.

Yearly statutory reporting

  • Review year end journals including but not limited to prepayment, accrual and bank schedules prepared by the Finance Officer for accuracy, correctness and completeness and ensure that the yearend General Ledger is correct, complete and accurate.
  • Prepare draft annual financial reports; including but not limited to; statement of receipts and payments, statement of income and expenditure, statement of financial position, cash flow statements, related disclosures and management discussions and analyses at year end.
  • Ensure all renditions, audits and statutory compliance activities are carried out on time, in line with global best practice.

Donor Reporting

  • Prepare quarterly reports for the COO’s review.
  • Review donor reporting narratives for consistency with financial reports.

EFInA Policy, Processes and Procedures

  • Responsibility for updating the Finance manual and ensure it is up to date and submit to COO for review
  • Responsibility for ensuring compliance with Finance policies, processes and procedures.
  • Ensure that PPPs are in place and are being adhered to.
  • Maintains internal control systems for monitoring and ensuring the accuracy of all financial data. Prepares monthly reports on any discrepancies for the Chief Operating Officer.

Tax Management

  • Ensure compliance with all regulatory and statutory tax requirements.
  • Ensure accuracy and adequacy with VAT, WHT and other tax deductions.
  • Ensure VAT, WHT tax deductions are done and paid within statutory timelines.
  • Ensures statutory compliance under the Income Tax Act and the Companies Act and provide advice and assistance to the Chief Operating Officer on all financial regulatory issues.

Sub-Grantee Financial Management

  • Reviews all grant disbursement requests, grant agreements and contracts for sign off by the Chief Operating Officer.

Business Planning

  • Provide updates and inputs to the business plan in line with the EFInA strategy and work-plan.

Other Responsibilities

  • Supervise the operational performance and efficiency of the finance team.
  • Ensure that finance requests are resolved and communicated in a timely manner to internal and external stakeholders.
  • Oversee the relationships with EFInA’s bankers, financial auditors, and tax and revenue authorities.
  • Prepare quarterly vendor performance reports for the COO.
  • Take responsibility for own continuous professional development by proactively identifying and participating in formal/informal learning opportunities
  • Execute other tasks as may be assigned by the COO.

Job Competencies and Capabilities

Qualifications & Experience


  • Bachelor’s Degree in Finance or a related discipline.
  • ACA/ACCA/CIMA is a requirement
  • Minimum of 7 years’ experience of combined finance and accounting experience, with at least 3 years as a Finance manager or Finance Controller
  • Minimum of of 5 years’ experience in a Senior Finance position
  • Experience in the financial management of international donor funds will be an added advantage
  • Proficient use of Sage Evolution software will be an added advantage



  • Advanced Excel skills
  • Business development
  • Relationship management
  • Be up to date on all accounting standards
  • Personal Effectiveness
  • High level of initiative
  • Good working ethics
  • Strong analytical skills
  • Result driven and works to deadlines
  • Attention to detail and accuracy


Personal Qualities

  • Consistently maintains high standards that ensure minimal errors
  • Resourceful with an enterprising attitude that is quick to search out alternative solutions to needs or problems
  • Integrity and high personal ethical standards
  • Team player
  • Discreet and respects confidentiality
  • Results-focused; able to work well under pressure and meet deadlines
  • Proactive with high levels of initiative
  • Positive, flexible, supportive attitude to work

Resilient & Confident

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