JOB PURPOSE:

The Chief Financial Officer (CFO) is a key Principal Officer responsible for directing the university’s financial and accounting functions. Reporting to the Registrar, the CFO ensures financial sustainability, compliance, and optimal resource utilization. This role requires strategic leadership in financial planning, implementation, risk management, policy development, and regulatory adherence to support the university’s mission and long-term goals.

KEY RESPONSIBILITIES:

1.Strategic Financial Leadership and Planning:

1. Provide strategic financial advice and recommendations to the Vice-Chancellor and Executive Management and provide relevant financial information to the University Council to support informed decision-making and institutional sustainability;
2. Develop, implement and periodically review the University’s financial strategy, long-term financial plans, annual budgets and rolling forecasts in alignment with the University’s Strategic Plan;
3. Provide financial modelling and scenario analyses to support major institutional initiatives, capital projects, academic expansion and investment decisions;
4. Promote financial sustainability by identifying new revenue streams, improving financial performance and strengthening institutional resilience;
5. Ensure compliance with International Financial Reporting Standards (IFRS), Generally Accepted Accounting Principles (GAAP), International Public Sector Accounting Standards (IPSAS) applicable legislation, taxation requirements, and the regulatory standards of the Zambia Institute of Chartered Accountants (ZICA) and other relevant statutory bodies; and
6. Continue with the implementation of the Sustainability Plan with Government and CBU.

2.Financial Reporting, Governance and Regulatory Compliance:

1. Oversee the preparation and timely submission of accurate monthly, quarterly and annual financial statements and management reports;
2. Ensure compliance with statutory reporting obligations, donor requirements, taxation laws and other regulatory frameworks;
3. Provide high-quality financial information, analyses and performance reports to facilitate evidence-based decision-making by Management and the University Council; and
4. Promote transparency, accountability and good corporate governance through effective financial reporting practices.

3.Budgeting, Financial Planning and Cost Optimisation:

1. Lead the University’s annual budgeting process and medium-term expenditure planning in consultation with academic and administrative units;
2. Monitor budget implementation and financial performance against approved plans, recommending corrective measures where necessary;
3. Develop and implement cost optimisation strategies and procedures that enhance operational efficiency while safeguarding the quality of teaching, research and service delivery; and
4. Ensure effective allocation and utilisation of financial resources in line with institutional priorities.

4.Treasury, Cash Flow and Investment Management:

1. Direct the University’s treasury function, including cash flow forecasting, banking relationships, debt management, liquidity management and investment portfolio oversight;
2. Ensure adequate liquidity to support operational and strategic priorities while maximising returns on surplus funds within approved investment policies, regulations and procedures;
3. Manage financial transactions and working capital efficiently to maintain the University’s financial stability;
4. Follow the Sustainability Plan with the Treasury to ensure that is succeeds; and
5. Advise Management on financing options for capital development projects and strategic investments.

5.Internal Controls, Enterprise Risk Management and Financial Stewardship:

1. Establish, maintain and continuously strengthen robust financial management systems, internal controls and governance frameworks;
2. Develop and oversee enterprise-wide financial risk management strategies that identify, assess and mitigate financial, operational and compliance risks;
3. Safeguard the University’s financial assets and ensure prudent utilisation of institutional resources; and
4. Promote a strong culture of accountability, ethical conduct and sound financial stewardship across the University.

6.Audit, Assurance and Regulatory Liaison:

1. Coordinate all internal and external audit activities and ensure timely implementation of audit recommendations;
2. Maintain productive relationships with auditors, regulatory authorities, government agencies, financial institutions, development partners and other external stakeholders;
3. Ensure continuous compliance with national and international financial regulations, accounting standards and governance requirements; and
4. Strengthen institutional accountability through effective audit follow-up and continuous process improvement.

7.Financial Policy Development and Business Process Improvement:

1. Lead the formulation, review and implementation of financial policies, procedures and governance frameworks that support the University’s strategic objectives;
2. Continuously review financial systems and business processes to improve operational effectiveness, service delivery and regulatory compliance;
3. Champion digital transformation initiatives within the Finance Directorate through the adoption of modern financial management systems and data analytics; and
4. Ensure policies remain responsive to changing economic, technological and regulatory environments.

8.Leadership, Human Capital Development and Stakeholder Management:

1. Provide visionary leadership and strategic direction to the Finance and Stores Department, fostering a culture of professionalism, innovation, integrity and accountability;
2. Mentor, coach and develop finance staff through structured performance management, succession planning and continuous professional development programmes;
3. Promote teamwork, collaboration and service excellence across the Department, Executive Management and the University Community; and
4. Build and maintain effective working relationships with internal and external stakeholders, including government agencies, funding partners, financial institutions, donors and development partners.

9.Financial Performance Monitoring, Business Intelligence and Decision Support:

1. Develop and monitor key financial performance indicators (KPIs), dashboards and management information systems to assess institutional financial performance;
2. Conduct financial analyses, forecasting and scenario planning to support strategic decision-making;
3. Prepare comprehensive financial performance reports and recommend strategies for improving operational efficiency, financial sustainability and institutional effectiveness; and
4. Drive a culture of performance management by ensuring financial accountability across all academic and administrative units.

10.Resource Mobilisation and Financial Sustainability:

1. Support the University in identifying and developing sustainable revenue generation opportunities, strategic partnerships and innovative financing mechanisms;
2. Provide financial leadership in grant management, donor-funded projects, commercial ventures and income-generating initiatives;
3. Advise Management on strategies to diversify revenue sources, strengthen financial resilience and enhance the University’s long-term sustainability; and
4. Revive and maintain a reserve account for the University.

QUALIFICATIONS & EXPERIENCE:

1. A Grade Twelve (12) School Certificate or equivalent with five (5) credit passes, including English Language;
2. Bachelor’s Degree in Accounting or Finance;
3. Full Professional qualification (ZICA, ACCA, CIMA or equivalent); or Master’s Degree in Finance, Accounting or Business Administration;
4. A minimum of ten (10) years’ progressive post-qualification experience in financial management, of which at least five (5) years must have been at Senior Management level in a university, public institution, multinational organisation, or large corporate entity. Strong knowledge of financial principles, regulatory frameworks, and best practices;
5. Membership in good standing with Zambia Institute of Chartered Accountants (ZICA) with minimum Associate membership;
6. Demonstrated experience in strategic financial planning, budgeting, investment management, financial reporting and organisational transformation;
7. Proven experience managing large institutional budgets and complex financial operations;
8. Sound knowledge of International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), public finance management, taxation, corporate governance and risk management and; and
9. Experience in higher education sector will be an added advantage.

COMPETENCIES & SKILLS:

1. Exceptional strategic leadership and business acumen;
2. High levels of integrity, professionalism and ethical conduct;
3. Outstanding analytical, financial and problem-solving skills;
4. Excellent communication, negotiation and interpersonal skills;
5. Strong decision-making and organisational abilities;
6. Proven ability to influence institutional strategy;
7. Excellent stakeholder engagement and relationship management skills;
8. Excellent knowledge in accounting software packages and Microsoft office;
9. Strong people leadership, coaching and succession planning capabilities;
10. Ability to drive innovation, digital transformation and continuous improvement;
11. High emotional intelligence and resilience;
12. Commitment to accountability, transparency and service excellence; and
13. Ability to respond to changing financial landscapes and apply creative solutions to strengthen sustainability.

TERMS OF APPOINTMENT

The position offers an attractive and competitive remuneration package commensurate with the successful candidate’s qualifications, experience and demonstrated competencies. The appointment shall be on a three (3)-year performance-based contract, renewable subject to satisfactory performance and the University’s operational requirements. The successful candidate will also enjoy a comprehensive benefits package, including gratuity, medical insurance, leave entitlements and other terms and conditions of service applicable to Principal Officers of the University.