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CFO Money Services Segment (Grace Kennedy Money Services)

ACCA Consulting

This is a Contract position in Toronto, ON posted January 23, 2023.

Chief Financial Officer
– Grace Kennedy Money Services Segment Our client, Grace Kennedy Money Services is looking for an astute Chief Financial Officer (CFO) to lead the finance function of the GK Money Services Group.

Reporting to the Chief Financial Officer
– GraceKennedy Financial Group, the Chief Financial Officer
– Money Services Segment is a crucial team member of GKMS Group management team and is responsible for leading the GKMS finance organization, including financial reporting and analysis, budgeting and forecasting, tax, treasury and cash management, internal audit and controls, banking relationships, assisting with strategic planning and deal analysis and negotiation.

The CFO-MSS provides decision making support to the GKMS CEO and the COO and implements strategies that will enhance the Group’s overall performance.

GKMS vision is to be the leader in money services, delivering borderless solutions with first class customer experience.

If you are a compelling leader with proven successes as a CFO, in a growing and dynamic business context, we encourage you to apply for this exciting role About the role The Chief Financial Officer
– Money Services Segment is responsible for providing oversight of the Finance Function for all companies in the Money Services Group currently: GraceKennedy Remittance Services Limited GraceKennedy Currency Traders Limited GraceKennedy Payment Services Limited GraceKennedy Trinidad GraceKennedy Guyana GKMS Entities in Cayman, Bahamas, Turks and Caicos British Virgin Islands and Eastern Caribbean About the Company GraceKennedy Money Services (GKMS) is the umbrella entity which encompasses FX Trader
– The Foreign Exchange Place from GraceKennedy Money Services; Bill Express
– The Bill Payment Place from GraceKennedy Money Services and Western Union
– Moving Money for Better.

Some or all of these services may be found in Jamaica, Trinidad and Tobago, Guyana, Anguilla, St.

Kitts and Nevis, St.

Vincent and the Grenadines, British Virgin Islands, Montserrat, the Cayman Islands and the Turks and Caicos, and now The Bahamas.

The company’s mission is to connect communities and improve lives by fostering financial inclusion, whilst providing convenient and efficient money solutions.

The successful CFO will: Provide Executive responsibility for the financial operations of the Money Services group which includes, timely and accurate financial reporting to meet legal, internal management and Board requirements, working capital and cashflow management, capital expenditure and taxation management.

Coordinate the development of GKMS Group financial plans by directing the preparation of high level budgets and forecasts for the group; providing support to the CEO and COO in the preparation and negotiation of the Annual Budget.

Review of consolidated and individual company’s actual performance against budget making recommendations for changes, as necessary, to achieve the budget including treasury/cash flow management, foreign exchange hedging strategy, expense management.

Develop and implement accounting policies and procedures that are consistent and compliant with International Financial Reporting Standards.

Develop and manage the financial control system by ensuring expenses are authentic; monitoring variance reports and ensuring strong internal control procedures are in place for Reconciliations, Settlement, Cash and Receivables management.

Safeguard the company’s asset by ensuring proper procedures are followed for procurement, maintenance and sale; Ensure adequate insurance coverage is maintained.

Design and implement an effective process to evaluate the profitability of products, segments, and operations within the Group Design and implement effective costing and accounting systems for new products/services and formulate and implement accurate and effective cost allocation processes.

Evaluate the finance function for continuous improvement in efficiency and effectiveness.

Represent the Finance function at Board and Committee meetings (both internal and external committees) and financial forums; liaise with the Bank of Jamaica and other regulatory Commissions and government agencies on legal and financial issues affecting the Money Services Group Contribute to the performance and development of subordinate staff by providing strong leadership to motivate both individual and team excellence; exhibiting an ability to listen, negotiate and communicate goals and expectations.

Preferred Candidate Profile A Graduate degree in Finance or Accounting and an Accounting designation (ACCA/CPA) At least 10 years’ work experience at a senior level in the Financial Services sector preferably in the Banking industry Sound technical knowledge of Financial Services companies policies, operations, organization, accounting procedures and financial reporting systems; An excellent understanding of the local economic, political, social, investment and business environment; Strong organizational skills and managerial abilities to direct and co-ordinate staff workloads, to prioritize tasks and to elicit a high level of productivity from staff to meet objectives which often include tight time frames; Strong written and verbal presentation skills, including the ability to express findings concisely while retaining accuracy and clarity; Strong analytical, forecasting and modelling skills, as well as strong interpersonal skills, professional judgment and tact in dealing with contacts inside and outside the financial areas of the group; The ability to develop and maintain effective working relationships with, inter alia, senior officers within the GraceKennedy Group of Companies, The Bank of Jamaica, Other Regulatory bodies in the countries we operate, Banks, and Auditors Ability to maintain a broad perspective of the long-term objectives of the Group.

Excellent interpersonal and communication skills Required Competencies Excellent analytical and problem solving skills Strong leadership and people management skills Good negotiation and relationship building skills Good communication skills both oral and written Good understanding of the macro-economic climate and how it impacts the Money Services segment Working knowledge of Banking and/or Money Services products and services Advanced proficiency in the Microsoft Office Suite of applications If you fulfill the requirements for this position and are highly motivated to lead Finance in this growing business, we invite you to apply by February 18, 2023.

We thank all applicants for their interest, however only short-listed candidates will be contacted for interviews.

To see the full job description please click apply.