Ended Finance Manager

The Job

Murooj Electronic Services has recently acquired a majority interest in Yemen Financial Services Company (YFSC), which operates Yemen’s National Switch interbank network. The acquisition is intended to kick-start a payment transformation in Yemen’s present economic turmoil. In light of this vision, Murooj triggered the creation of Yemen’s “National Mobile Wallet Company” (NWC) that will integrate the YFS, banks, the private sector, telcos, and government institutions (i.e. post authority).

Murooj was established in 2017 and is a partnership between Cornerstone Holdings, a regional investment company, and individuals from the Hayel Saeed Anam group, Yemen’s leading privately owned company and a diverse multinational corporation.

The company is based in Yemen with offices in Cairo. Murooj is focused on addressing Yemen’s severe financial challenges on the ground by introducing innovative mobile payment mechanisms that bypass currency shortages and meet the real needs of Yemen’s citizens and businesses.

Established in 2006, the YFSC is the Yemeni National Switch interbank network. In addition to connecting to international switches, the YFSC was created to enable such interbank operations as money transfers, card payments, and ATM operations. The YFSC member banks are Yemen Bank for Reconstruction and Development (YBRD); National Bank of Yemen (NBY); Yemen Gulf Bank (YGB); Yemen Islamic Bank (YIB); International Bank of Yemen (IBY); Tadhamon Islamic International Bank (TIIB); Cooperative and Agricultural Credit Bank (CAC); Yemen Kuwait Bank (YKB); Saba Islamic Bank (SIB); Shamil Bank of Yemen and Bahrain (SBYB); Arab Bank (AB).

Position Title: Finance Manager
Location: Sanaa, Yemen, Travel will be required to Cairo occasionally
Reporting Relationships: National Mobile Wallet CFO

Main Focus and Challenges

This role is to be part of the financial program of work for the National Mobile Money programme. The programme is an opportunity to accelerate a major new commercial electronic financial services project whilst delivering societal benefit through financial inclusion in Yemen. Reporting to CFO, the position will be responsible for managing and help lead and direct a finance team across the full spectrum of specialist functions. The team will drive this effort along with the overall progression of NMWC. He/she will create a streamlined and lean, best in class commercial finance operation to fully support the CFO and deliver robust governance, compliance and reporting. The Finance Manager will ensure that the company’s financial targets are met as efficiently and effectively as possible and to contribute to the development of the company’s strategic objectives.

Specific Responsibilities

  • Direct and control the staff of the Finance team to ensure that they are appropriately motivated and trained and carry out their responsibilities to the required standards.
  • Contribute to the development of the company’s corporate strategy and develop and implement the financial strategies to ensure the attainment and delivery of plans and objectives.
  • Provide information and advice on financial management, financial control and procedures, to the Board, directors and staff to ensure that the company’s mission and financial objectives are met.
  • Prepare and implement an annual budget and regular updates to ensure the sound management of the company’s finances and to ensure that financial objectives are met.
  • Develop and maintain all necessary financial systems and procedures to ensure the effective and efficient attainment of corporate objectives.
  • Develop, control and implement the internal audit to ensure that company operations are carried out efficiently and with probity that agreed recommendations  are implemented.
  • Maintain a close working relationship with the external auditors to ensure compliance and cooperation with their requirements and to provide an effective audit trail.
  • Develop and maintain appropriate arrangements for effective cash management, making payments, collecting receipts, securing banking arrangements, monitoring income and ensuring optimum value to the company.
  • Ensure timely and accurate production of:
    • monthly management reports
    • monthly statutory accounts
    • monthly balance sheet schedules, including (amongst other things):
      • Cash balances Revenues & Financial Performance
      • Commissions paid and received
      • Aged analysis of deposits
      • movement
      • Agent Deposits
      • Provision for Expenses, etc.
      • Daily MFS and bank reconciliations
  • Oversee the channels liquidity processes to ensure that all partners transactions are processed in line with the agreed SLA.
  • Oversee and manage the NWC finance team to execute key responsibilities including:
    • Ensuring that the cash held within the NWC bank account is accurately reflected within the NWC system
    • transferring and allocation of agent float and performing agent Electronic Funds Transfer (EFTs), float reconciliation
    • Payout of commissions and Processing internal business and partner biller payments
  • Oversee the preparation of the company’s financial accounts to ensure that these are presented accurately and on time.
  • Develop and direct financial plans in supporting the strategic business plan, company growth and market opportunities.
  • Develop and maintain all necessary systems, policies and procedures to ensure effective and efficient financial management within the company.
  • Recommend and implement arrangements for costing and appraising all proposals with resource implications, including those relating to the use of external contractors and consultants, and recommend appropriate qualitative and quantitative performance measures.
  • Devise and implement appropriate financial and administrative procedures for the company and ensure that these operate effectively and are communicated to all staff.
  • Carry out all necessary actions to ensure that the company meets its financial and legal obligations.

The Person
The successful candidate will ideally come from a best in class company, Telecom, NGO or multinational background with extensive experience in Finance. They will be a highly capable member to a senior team, used to operating as a finance manager or equivalent with regional responsibility. He/she will be a natural change agent who brings prior restructure and build experience, who is used to fixing and creating from scratch. The successful candidate will be driven by making a difference and therefore have the passion to drive growth. Demonstrating significant intellect and capability to operate in a very complex business operation, with multiple stakeholders, he/she will demonstrate strong attention to detail, exceptional integrity, and a hands-on, lean approach. If you are CREATIVE and PASSIONATE, you are the right candidate.

Qualifications & Experience

  • Bachelor’s degree in finance, accountancy, or related field.
  • Minimum of 8+ years of experience in finance, budget, audit working with a best-in-class company, NGO or Telecom company preferred; multinational companies are a plus.
  • Proven experience working in complex environment, with a strong understanding of consumer behavior and social requirements across the country.
  • Senior-level managerial experience.
  • Excellent interpersonal skills & the ability to communicate effectively at a professional level.
  • Demonstrates experience in building from scratch, complex Financial strategies.
  • Strategic thinking skills.
  • Membership in a professional body of accountants (e.g., Institute of Chartered Accountants, Institute of Certified Public Accountants Institute of Chartered Public Accountants.

Murooj is committed to the principles and practices of equal opportunities and to encouraging the establishment of a diverse workforce. It is our policy to employ individuals on the basis of their suitability for the work to be performed and their potential for development, regardless of age, sex, race, color, nationality, ethnic or national origin. This includes creating a culture that fully reflects our commitment to equal opportunities for all.

How to Apply

Qualified and Interested Candidates must submit their CVs to:


Kindly write the following in your Subject Line when sending the email: "Finance Manager - Murooj"

  • Employer: Murooj
  • Category: Accounting/Finance
  • Location: Sana'a
  • Posted on: 7 November 2018
  • Deadline: 14 November 2018