FSD Africa – Chief Financial Officer.

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We work to reduce poverty by strengthening Africa’s financial markets.

Established in 2012 and supported by UK aid, FSD Africa (including FSD Africa investments) is a specialist development agency working to build and strengthen financial markets across sub-Saharan Africa. We work to reduce poverty through a ‘market systems development’ approach, which means we aim to address the structural, underlying causes of poverty by improving how financial market systems function.

We believe that investing in building a financial system that is transparent, stable and accessible creates the conditions for a fair and sustainable future, where inequality is reduced, corruption is tackled, and where individuals, businesses and governments alike are able to prepare for future challenges, from climate change to political instability.

From our headquarters in Nairobi, our team of financial sector experts work alongside governments, business leaders, regulators and policy makers to design and build ambitious programmes that make financial markets work better for everyone.  Depending on the project, we can provide a combination of grants, investment capital, market insights or technical assistance to ensure we achieve our objectives.

We focus our work where the need is greatest, and where we believe the potential for impact is the most significant. We have a specific mandate to invest in breakthrough, innovative ideas that we believe can have a transformative impact. By sharing risk with our partners, we’re able to address more difficult, persistent, or higher-risk challenges, in more unstable or fragile geographies, than traditional development finance organizations.


Chief Financial Officer



CEO, FSD Africa

Finance, Audit & Risk Committee


Board of FSD Africa


Finance Team


The Chief Financial Officer (CFO) has overall responsibility for leading, managing and reporting FSD Africa’s finances, including investments made through its subsidiary, FSDA(I), and for risk management and compliance.  The CFO leads the development of financial and tax strategies, management of capital requests and financial planning for supporting the growth and sustainability of the organization. As a key member of the Executive Management, the CFO assumes a strategic role providing in-house expertise for any financial issues. The CFO is also in charge of building and maintaining strong relationships with stakeholders and overseeing all financial matters related to internal and external audits, statutory returns, including tax and reporting of financial results to FCDO and the Board of Directors. He/she will lead and advise on the company direction in all aspects of risk management and compliance, working in close liaison on this with the Finance Audit & Risk Committee.   


  • Provide leadership direct and oversee all aspects of the finance, audit, risk, and compliance functions of the organisation
  • Oversee the financial operations of the organization, its subsidiaries and foreign operations including the transaction processing systems, compliance with IFRS and all applicable laws and rules for financial and tax reporting while providing timely financial information, and reports to relevant stakeholders
  • Oversee overall capital and cash flow management, investment and planning with responsibility for managing the processes for forecasting, budgets, consolidation, and reporting of Group financial planning activities
  • Maintain and manage third party relationships related to finance, risk and compliance to achieve optimal results e.g.  banking relationships, auditors, statutory bodies etc.
  • Work with the management team (Exco) in formulating the company’s future strategic direction and supporting tactical initiatives, and monitor and direct the implementation of strategic business plans while providing leadership and continuous evaluation and achievement of strategic financial objectives
  • As a key member of Exco, maintain strong relationships with pillar heads, providing guidance and support on financial performance, business opportunities, service contracts, grant agreements, while leading the Finance team in meeting Service Level Agreement targets (e.g., timely and accurate reports, payment processing, tax, audit and compliance etc.)
  • Assume responsibility for, and oversee implementation of, the organisation’s Enterprise Risk Management system, reviewing periodic risk management reports, reporting on risk to the Board
  • Oversee the organisation’s compliance function, ensuring zero tolerance on key compliance matters such as safeguarding and monitoring compliance and actively promote a strong compliance culture. This includes the review and approval of all statutory financial returns made to appropriate Government agencies to ensure compliance
  • Support internal and external auditors on their periodic audits and facilitate timely and high-quality reporting on the same to the Board
  • Lead and develop staff in finance, risk, and compliance functions, managing the team by providing professional and technical guidance, developing a coherent resourcing strategy for the finance, compliance, and risk management functions
  • Carry out any other duties or special assignments as assigned by the FSD Africa Board and CEO

The desired location for this role is Nairobi due to the nature of the position’s responsibilities.


Qualifications and Education


  • A master’s degree in business, accounting or finance, or a relevant bachelor’s degree accompanied by   appropriate professional qualifications such as CPA, ACA, or ACCA. Preference will be given to candidates with an MBA in Finance and  a CPA or equivalent accounting qualification.

Experience, Knowledge, and Skills

Essential Experience

  • A successful track record as a senior financial executive with financial sector knowledge/experience prior to becoming a CFO. At least five years’ experience in Africa will be preferred
  • 10+ years of progressively responsible experience within an investment environment across multiple countries, institutions, and programmatic areas, with significant expertise in investment management (e.g. from the private equity industry) and/or investment or development banking, good commercial judgment to play a central role in making the strategic objectives of FSDAi become a reality.
  • Leadership and partnering with an executive team, with a high level of written and oral communication skills.
  • Experience of the impact investing industry and familiarity with current thinking around  impact measurement and reporting
  • Experience of financial reporting of investments, including developing and applying protocols for impairment and provision calculations under IFRS9
  • Financial risk management and an understanding of the growing financial risks that a significant increase in FSD Africa’s investment operations would entail 


  • Knowledge of donor reporting processes (ideally FCDO)
  • Knowledge of institutional management of investment strategies across various types of asset classes, trading approaches and techniques, and of factors affecting price trends
  • Knowledge of applicable regulatory frameworks and bodies, as well as policies and guidelines affecting business practices
  • Knowledge of and the ability to use methods, processes and tools for creating and maintaining accurate and thorough investment reports
  • Excellent skills in written and spoken English


  • Able to build relationships and gain commitment from others
  • Strong project management skills, able to focus on and deliver on multiple projects at any one time
  • Reliable with an ability to take responsibility and exercise it well
  • A flexible and “hands on” approach, prerequisite for a senior member of a small team
  • Strong communication skills; the ability to present ideas and financial processes with conviction


  • Exposure to multiple functions and products in investment banking
  • First-hand experience of working in/with a market building programme
  • Familiarity with major African players in the field of impact investing
  • Experience of working in a multi-cultural environment
  • Languages: local African languages

Qualities, Behaviors and Attributes

  • A strong work ethic with a high standard of attention to detail and quality; comfortable with working in a demanding and highly intellectually environment
  • An active and demonstrable interest in economic development and developing countries
  • Responsive to new ideas and innovations, adaptable to system and process improvements, open to change and able to adapt established methods for new uses
  • Acts professionally and upholds the good reputation of the organisation, abides by FSDA Code of Conduct
  • Communicates clearly, expresses ideas in simple terms, listens to the views of others and changes tone and style to match the needs of people listening
  • Self-motivated and keen to take initiative, seeking clarification when necessary and taking responsibility for own actions
  • Impact-oriented with a focus on completing projects and delivering results
  • Rigorous with respect for good governance and procedures, intolerant of poor quality
  • Demonstrates integrity, is fair, honest and trustworthy with respect for confidentiality

Leadership Qualities, Behaviours and Attributes

  • Strategic thinker, creates a strong vision for the team; inspires others to greater performance, professional standards, and results
  • Develops others and creates understanding through role clarity and supportive leadership
  • A team player who is supportive of other’s ideas and innovations, collaborates in a culture of knowledge sharing and team learning to strengthen the organisation’s work
  • Presents new challenges and opportunities to the team to enable them to demonstrate and achieve their full potential; encourages and inspires team learning
  • Encourages a high-performing culture in the team, by leadership style and behaviour


Internal Relationships

  • FSD Africa Board of Directors, including Finance Audit & Risk Committee
  • Management team
  • Staff
  • Peer departments

External Relationships

  • FCDO
  • Peers in professional services
  • Delivery contractors and partners


Direct Control

  • Overall responsibility for disbursing approx. £20m annually of grant funding, approx. £30m annually of capital investment

Indirect Influence

  • Over a portfolio of investments of c£50m currently with at least a further £50m committed from FCDO


To apply for this role, submit your detailed CV and cover letter by close of business Friday, 05 August 2022. 




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