Finance Manager

Job Title: Head of Finance

Location: Lilongwe, Malawi

Department: Finance

Reports To: Country Manager

Employment Type: Full-time

Job Overview

Elephant Bet Malawi seeks a dynamic Head of Finance to spearhead its financial operations. This pivotal role involves ensuring meticulous reporting, robust financial controls, strict regulatory adherence, efficient cash management, and dependable oversight of all betting transactions. The ideal candidate will furnish timely financial analyses crucial for informed business strategies and sustained expansion.

Primary Responsibilities

Financial Management & Reporting

• Oversee daily accounting functions and financial management, producing comprehensive monthly, quarterly, and annual reports, alongside management accounts.


• Scrutinize revenue, expenditures, profitability, and cash flow, analyzing deviations and presenting actionable financial insights to leadership.


• Uphold the integrity of accounting records and ensure prompt month-end and year-end closing procedures.

Betting Revenue & Transaction Reconciliation

• Supervise the daily reconciliation of the betting platform, payment gateways, bank statements, and accounting records.


• Reconcile all deposits, withdrawals, winnings, stakes, voided bets, bonuses, and promotional credits, diligently investigating and resolving any discrepancies.


• Collaborate with Operations and Technology teams to maintain transaction accuracy and report on betting revenue, payouts, and liabilities.

Treasury, Cash & Payments

• Monitor daily liquidity and cash flow needs, ensuring adequate funds for operational expenses and timely customer payouts.


• Manage bank and payment provider reconciliations, payment settlements, and the processing of customer withdrawals and winnings.


• Cultivate strong relationships with banking institutions, mobile money providers, and payment processors, enforcing proper payment authorization and controls.

Tax, Statutory & Gaming Compliance

• Ensure the timely preparation and submission of all tax and statutory returns, coupled with the accurate application of betting/gaming taxes, levies, and withholding tax.


• Maintain precise records for regulatory reporting and inspections, working collaboratively with Compliance and management to rectify any financial control deficiencies.

Budgeting & Financial Planning

• Lead the annual budgeting process and financial forecasting, closely monitoring actual performance against the budget and identifying opportunities for cost optimization.


• Develop financial models and analyses for new products, marketing campaigns, expansion initiatives, and other strategic business decisions.

Internal Controls, Risk & Audit

• Establish and maintain robust financial policies, procedures, and internal controls, including clear segregation of duties.


• Identify potential financial and fraud risks, monitor unusual transaction patterns, provide support for internal and external audits, and ensure prompt resolution of audit findings.

Business Partnership

• Act as a key financial advisor to the Managing Director, Operations, Technology, Compliance, Marketing, and Customer Support departments on financial and commercial matters.


• Evaluate the financial implications of promotions, bonuses, and marketing campaigns, seeking avenues to enhance revenue and operational efficiency.

Qualifications & Experience

• Possess a Bachelor’s degree in Accounting, Finance, Economics, or a closely related field.


• A professional accounting qualification such as ACCA, CIMA, CPA, or its equivalent is highly desirable.


• A minimum of 5 years of progressive experience in finance and accounting, including demonstrable supervisory or managerial responsibilities.


• Proven expertise in financial reporting, budgeting, cash-flow management, reconciliations, and the implementation of internal controls.


• Proficiency in accounting software/ERP systems and advanced Microsoft Excel skills are essential.


• Prior experience within the betting, fintech, financial services, or high-volume retail sectors will be considered a significant asset.

Core Competencies

Financial accounting & reporting • Management accounting • Budgeting & forecasting • Treasury & cash-flow management • Bank & transaction reconciliation • Tax compliance • Internal controls & audit • Financial analysis/modelling • ERP/accounting systems • Advanced Excel • Digital payment reconciliation • Integrity • Analytical ability • Commercial awareness • Problem-solving • Communication • Leadership

Key Performance Indicators

• Precision and timeliness in financial reporting and forecasts.


• Accuracy in daily betting, bank, and payment gateway reconciliations.


• Effective management of liquidity, cash flow, and customer payouts.


• Punctuality in tax, statutory, and regulatory submissions.


• Reduction in transaction discrepancies and swift resolution.


• Adherence to budget, efficient cost management, and robust internal controls.


• Prompt closure of audit findings and overall financial integrity of betting operations.

Key Working Relationships

• Internal: Managing Director/CEO, Operations, Compliance, Technology/Product, Marketing, Customer Support, Human Resources, and Finance teams.


• External: Banks and financial institutions, payment service providers, tax and gaming regulatory authorities, external auditors, suppliers, and business partners.

To Apply: Please forward your application to elephantbetmalawi@gmail.com.