Executive recruitment company Monroe Consulting Group Philippines is recruiting on behalf of a well-established organization that works towards elevating lives through a comprehensive approach that champions best practices in community development. This highly reputable organization is looking for CFO with a wealth of experience in strategic and tactical operations encompasses controllership, treasury, and procurement. A strong exposure either from NGO, microfinancing, banking, or financial service industries is highly desirable. This job is based in Cebu City, Philippines.

Job Summary
The Chief Financial Officer oversees the strategic and tactical operations of the controllership, treasury, and procurement departments of the organization. The CFO shall exercise administrative and functional oversight of these departments, including among others, talent management (hiring, appraisal, training, engagement, coaching, firing, etc.), team performance management, budget planning and review, financial transactions review and approval, risk management, compliance management, internal and external communications, administrative policies and procedures, etc. This includes ensuring alignment of the services, activities, projects, and engagements of these departments to a well-defined strategic direction.
The CFO works closely with the President and the Chief Executive Officer, and plays executive enterprise-wide roles as a member of the Management Committee, with contributions mainly in the areas of financial management, financial accounting and reporting, risk management, tax and regulatory compliance, financial systems and internal controls, fraud prevention and detection program, cash flows management, treasury and investment management, cost management, strategic planning, sourcing and procurement management, asset management, clients' micro-insurance management, payroll administration, etc. The CFO executes or participates in key management decisions and other special undertakings directed by the Board or Board Committees to the Management Committee.
As the primary professional liaison to the Investment Committee, the CFO facilitates the Committee in exercising oversight of significant investment transactions, investment policies and guidelines, review of the investment manager, establishment of investment benchmarks and objectives, review of investment performance, monitoring of exposures and investment risk management, and fund monitoring.

Key responsibilities include:

1. Enterprise and Cluster Roles

1. Corporate Governance - The CFO acts as the primary and direct professional liaison to the Investment Committee and Board Risk Committee, and where specifically required, to provide information to the Executive Committee, Board Audit Committee, and as such is responsible for integrated, timely, and adequate reporting of financial information and technical-professional advice
2. Enterprise Management- As member of the Management Committee, the CFO contributes to the overall management of the Foundation, ensuring that adequate and timely information will be given to financial management, financial accounting and reporting, risk management, tax and regulatory compliance, financial systems and internal controls, fraud prevention and detection program, cash flows management, treasury and investment management, cost management, strategic planning, sourcing and procurement management, asset management, clients' micro[1]insurance management, payroll administration, etc., in the decision-making activities of the Management Committee
3. Enterprise Financial Performance- The CFO maximizes the value of financial information, analysis, strategies, policies, recommendations and other mechanisms to facilitate the Program Units and Support Functions in achieving financial performance goals, including both revenue generating, profit centers.
4. Financial/Accounting Policies and Procedures- The CFO conducts technical and high-level review of financial policies and procedures, whether such policies and procedures apply to the cluster departments, or the Foundation, as a whole.
5. Cluster Administration and Leadership- Performs administrative oversight (directly coordinating with the TLs) of the Cluster, including talent management (hiring, compensation, appraisal, training, engagement, coaching, firing, succession, etc.), team performance management, budget planning, control and review, financial transactions review and approval, risk management (of cluster units), internal and external communication, administrative policies and procedures, etc.
6. Cluster Performance Management - The CFO reviews and initially approves the annual and strategic targets of the different units in the cluster, and is accountable for conducting short-interval controls (e.g., weekly, monthly, and quarterly reviews) for monitoring the progress of the units in achieving such goals.
7. Organizational Culture and Systems - Accountable for driving the Cluster (especially to the TLs) in building and maintaining organizational culture and systems pertaining to financial literacy and financial performance management, financial risk management, cost consciousness, compliance with internal financial policies, etc.

1. Technical Functional

2.1 Operational and Strategic

1. Operational and Strategic Planning - The CFO closely works with Senior Management and the Governing Board in the strategic thinking process to develop the strategic goals of the Foundation whilst closely works with Team Leaders and VPs in their annual operational planning, with focus on providing insights on financial performance targets and strategies.
2. Operational and Strategic Budgets - The CFO has overall accountability for the annual operational budget preparation, review, deliberation and approval of the various Program Units and Strategic Internal Partners. The CFO, together with Controllership, establishes a robust budgeting process, and spearheads the execution of such budget process. The CFO also has accountability for long-term financial planning and cash flows forecast when required for strategic planning purposes.
3. Strategy Management - The CFO closely works with the President, Vice Presidents and the Strategy Management Team (Operational Excellence) in monitoring the execution of the Foundation's strategy, with focus on financial-related strategies. The CFO participates in the periodic review of the strategy and its execution.

1. 1. Controllership and Financial Accounting
2. Transactions and Contracts Review - The CFO reviews and approves significant financial transactions of the Foundation, in accordance with the Approval Authority Matrix. The CFO remains accountable for the performance of the approval function of those Team Leaders in the cluster, as designated in the Approval Authority Matrix
3. Transactions Evaluation - For major financial transactions of the Foundation, the CFO facilitates in performing sufficient analysis and evaluation together with the transaction-owner (requestor) prior to approval or making recommendations to Senior Management and the Governing Board.
4. Budget Monitoring and Review- The CFO shall ensure that Controllership has a system for recording and monitoring of budget utilization of the different Program Units and Strategic Internal Partners, and take into account such information in the review and approval of financial transactions, and such information on budget variances shall be reported to Management and the Governing Board, as appropriate.
5. Transaction Accounting - The CFO is accountable in ensuring that Controllership develops and implements accounting policies and procedures so that all transactions of the Foundations are accounted for in accordance with the applicable Philippine Financial Reporting Standards (PFRS).
6. Financial Reporting - The CFO is primarily accountable for the timely preparation of a complete and reliable set of financial statements and notes (disclosure requirements), and submission of such to the External Auditor for an independent audit, as well as regulatory agencies (BIR, SEC, MCP, BSP) and stakeholders, among others. The CFO shall ensure that such financial statements and disclosures are in accordance with the Philippine Financial Reporting Standards (PFRS), and other applicable financial reporting frameworks for Nonprofit Organizations.
7. External Auditing - The CFO is accountable for ensuring the cluster's compliance with the Policy on the Foundation's External Audit, which among others, require that unrestricted access to records, information and people be provided to the External Audit. The CFO is also accountable for facilitating the audit, so that it is completed within an acceptable timeline.

1. 1. Management Accounting
2. Management Reporting - The CFO shall be accountable for the timely preparation of financial reports for Management and the Board, including such other relevant information as requested by the TLs in their monthly FPR
3. Financial Analysis - The CFO shall be accountable for timely providing Management and the Governing Board with relevant and meaningful financial analysis. The CFO shall provide TLs with insights and recommendations on areas for improvement in their financial performance. This includes analysis of budget variances and the development of recommendations for preventive and corrective actions.
4. Responsibility Accounting - The CFO shall be accountable for the establishment and implementation of a system for allocating costs to cost and profit centers, and ensuring that information resulting from responsibility accounting is available to the Foundation, especially to Management and Governing Board.
5. Product Pricing and Costing- The CFO shall work closely with TLs in determining appropriate pricing of their products (e.g., company's financial products) or establishing pricing policies (e.g. CGM products)
6. Project Cost Accounting - The CFO shall be accountable for providing information to Senior Management and the Governing Board cost information on significant projects
7. Financial Products Development- The CFO shall work closely with the various Program Heads in developing and reviewing its financial products and services.
8. Project Feasibility Study - The CFO works with Management in conducting feasibility studies of projects, programs, investments, etc., and ensures that finance-related matters are adequately considered.
9. Program Evaluation - The CFO participates in the evaluation of the Foundation's programs, especially contributing in the areas of financial evaluation.
10. Internal Auditing - The CFO is accountable for ensuring the cluster's compliance with the Foundation's policies and procedures for internal auditing, which among others, require that unrestricted access to records, information and cooperation be provided to Internal Auditors.

1. 1. Legal and Regulatory Compliance
2. Revenue Regulations/Tax Compliance - The CFO shall be accountable for ensuring that the Foundation is compliant with all relevant revenue regulations
3. Regulatory Compliance (SEC, BIR, BSP, MCP - The CFO shall be accountable for ensuring that the Foundation complies with the requirements of all relevant regulatory bodies, specifically those pertaining to finance and accounting. The CFO leads the Compliance and Risk Management teams in providing Management and the Board with assurance on the level of compliance with these regulatory requirements.
4. Contracts Review and Database - The CFO shall be accountable for reviewing contracts supporting the Foundation's financial transactions, and ensuring that the Foundation maintains a reliable contracts database.
5. External Liaison to Regulators (BIR, COA, PCNC) - The CFO, in close coordination with the President, shall act as the primary representative of the Foundation to regulatory bodies with respect to their regulatory requirements, including for example in cases of tax assessments, tax exemption accreditation, liquidation of public funds requirements, etc.

1. 1. Financial Risk Management

1. - The CFO, and in coordination with the Risk Management and Compliance teams shall be accountable for identifying, assessing, treating and monitoring risks of the Foundation.
2. Risk Finance (Insurance) - The CFO shall review risk financing strategies and policies of the Foundation, and ensure that Risk Management's role in processing insurance policies are performed.
3. Enterprise Risk Management - The CFO ensures that the cluster complies with and implements the Foundation's enterprise risk management policies and procedures, and contributes thereto, especially in its areas of expertise.
4. Operational Risk Committee - The CFO chairs the Operational Risk Committee and shall ensurefulfillment of the mandate of the Operational Risk Committee.
   1. Accounting Systems and Technology

1. Financial Policies and Procedures - The CFO shall be accountable for the development and implementation of sound financial policies and procedures of the Foundation, including for example, transaction documentary requirements, timing of liquidation, approval authority matrix, etc.
2. Financial Technology Adoption- The CFO shall participate in the committee that assesses the adoption of technology in the delivery of the Foundation's products and services.
3. Financial Internal Control - The CFO (together with Management) shall be accountable for the design and implementation of internal control systems necessary for the preparation of reliable financial statements. Such internal control shall provide reasonable assurance on (a) ensuring that the goals and objectives of the cluster and Foundation will be achieved, (b) reliability of financial and operational information, (c) efficiency and effectiveness of the cluster's operations, (d) safeguarding of assets, (e) compliance with laws, regulation and contracts.
4. Accounting Information System - The CFO shall be accountable for development/adoption and maintenance of a reliable accounting information system, and integrity of information therein.
5. Anti-Fraud Program and Fraud Investigations - The CFO shall champion the development and implementation of an Anti-Fraud Program of the organization, especially where such frauds and irregularities may be relevant to financial reporting and asset misappropriation.

1. 1. Financial Management

1. Investment Management - The CFO, as the primary professional liaison to the Investment Committee, shall be accountable for the overall management of the investments of the Foundation in short-term and long-term money market placement, equity instruments, and managed funds.
2. Investment Reporting - The CFO shall be accountable for the timely and reliable reporting of transactions and position of the investments of the Foundation to Senior Management, and the Investment Committee.
3. Fund Managers Monitoring - The CFO shall be accountable for conducting and/or facilitating the Investment Committee in the selection, coordination, performance monitoring, and replacement/termination of the Foundation's fund managers
4. Retirement Fund Management. - The CFO shall be accountable for the establishment and management of the retirement fund of the organization.
5. Employee Benefits Review - The CFO works with the President and the Human Resources Officer for the periodic evaluation of employee benefits, contributing on the evaluation of financial implications of new or revised employee benefits.
6. Cash Flows Management - The CFO shall establish a reliable system for closely monitoring (with the assistance of the Treasury Officers) the cash flows of the enterprise, and undertake necessary strategies to ensure optimally favorable cash positions.
7. Fund and Counterpart Generation - The CFO (and in close coordination with Program Unit TLs) shall be accountable for identifying, assessing and accessing sources of funding, including bank loans, government loans, international grants and funding, and counterparts from partner stakeholders, among others.
8. Portfolio and Credit Risk Management - The CFO shall be accountable for continually assessing (together with the organization's Management Committee) the risks of the loan portfolio of the organization (and other Program Units with credit sales), and provide recommendations on pragmatic strategies to mitigate credit risk.
9. Financial Sustainability and Liquidity Management -The CFO (together with the Program Unit TLs) shall be accountable for developing strategies for ensuring the financial sustainability of individual cost-center and profit-making Program Units, as well as the Foundation as a whole.
10. External Liaison to Banks and Financial Institutions- Where necessary, the CFO represents the Foundation in high-level transactions with banks and other financial institutions and is accountable for the Treasury Office's performance in terms of establishing and maintaining quality relationships with banks.

1. 1. Procurement and Asset Management
2. Procurement and Supplies Management- The CFO is accountable for establishing and maintaining a system for procurement and supplies management, and monitoring (together with Procurement Manager) the performance of procurement policies and procedures, and achievement of its objectives. For significant procurement contracts, the CFO shall be involved in the evaluation of the transaction.
3. Bids and Awards Committee - The CFO shall participate in the Bids and Awards Committee, and where deemed appropriate, may be appointed to chair the Committee.
4. Vendor Accreditation Committee - The CFO shall participate in the Vendor Accreditation Committee, and where deemed appropriate, may be appointed to chair the Committee.
5. Significant Property Acquisitions/Disposals - The CFO shall be involved in significant property acquisitions and disposals of the Foundation, contributing largely to the evaluation of the financial and operational implications of such acquisitions and disposals.
6. Inventory Management System - The CFO (together with the Program TLs) shall be accountable for establishing and maintaining a reliable inventory management system, and the related accounting system.
7. Fixed Assets Inventory Management - The CFO shall be accountable for ensuring that Controllership maintains an inventory system/accounting records for the fixed assets of the Foundation, and that the information therein is reliable.

1. 1. Organizational Capability Building
2. Culture building-The CFO shall be primarily accountable for developing a culture in the Foundation pertaining to financial literacy, financial management, compliance with financial policies, fraud deterrence and prevention, responsible resource utilization, etc.
3. Financial Training/Workshops - The CFO may be asked to conduct or organize financial trainings or workshops relevant to the improvement of competencies of TLs and TMs on financial management, financial analysis, etc.
4. Advocacy for Financial Management - The CFO shall act as the champion during meetings, discussions, trainings/workshops and other opportunities, for advocating finance-related competencies, insights, behavior, responsibilities, et
5. Advisory Role on Financial Matters - The CFO shall act as the primary advisor within the Foundation on financial matters, particularly at the Management level and the Governing Boar

Key requirements include :

• Graduate of a bachelor's degree in Management
• With at least 8 years of experience in managing a team with more than 25 team members.
• Five or more years of experience in non-profit management in an operational environment
• Three or more years of management or supervisory experience
• Experienced in financial planning and analysis, business development, and social entrepreneurship.
• Experienced with implementing systems, policies, and projects to achieve team' goals
• Experienced in building strategic partnerships with other stakeholders for the purpose of achieving the organization's goals