Chief Finance Officer – Jobsplus Permit Number 908/2025

The Chief Finance Officer (CFO) is responsible for all areas relating to financial management, accounting, and reporting within the Malta Development Bank (MDB). This position is responsible to establish and maintain accounting standards, practices, policies and procedures to ensure accurate and timely external and internal financial statements. The Chief Finance Officer will also ensure the Bank’s obligations to comply with the MDB Act 2017 and national and international reporting standards. The Chief Finance Officer shall be an active member of management and is expected to contribute expertise to develop financial plans and forecasts to support the evaluation and formulation of the Bank’s strategic and operational programmes.

This role reports to the Chief Executive Officer (CEO) of the Bank.

Principal Responsibilities
The Chief Finance Officer is required to manage financial and accounting functions on behalf of the MDB including:
• Accounting, budgeting, financial forecasting, and financial planning
• Capital adequacy calculations
• Developing and maintaining financial and accounting policies and procedures
• External and internal audit preparatory work and support
• Assisting Treasury with cash management
• Developing and establishing internal controls
• Payroll
• External financial reporting
• Management reporting
• Cost control
• Managing outsourced financial activities, and selection and maintenance of financial software

Essential Functions
The key functions of the Chief Finance Officer include:
• Responsibility to establish, document, and implement accounting principles, policies, methods, and procedures for MDB according to national and international standards
• Maintain and manage the accounting function for the MDB according to sound financial and accounting principles and practices, including responsibility for:
- General ledger
- Month and year-end closing processes
- Accounts payable and receivable
- Clearing accounts
- Payroll and utilities
- Bank accounts and cheque runs
- Reconciliation of balance sheet and other accounts, and
- Assisting Treasury with cash management
• Prepare, analyse and report on budgets, cash flow forecasts, variances, and financial models
• Participate in the development of the Bank’s strategy and its operational programmes by evaluating and analysing financial and other data and by formulating and reporting on financial plans
• Actively participate in meeting the financial and other objectives and standards required by EU and other international programmes in which MDB is involved
• Establish, maintain and report on internal controls over revenues and expenditure
• Develop, manage and support asset stewardship functions
• Verify and report on the payroll as appropriate
• Establish and maintain tax and other fiscal files, compute taxes and prepare tax filings and VAT returns for MDB
• Coordinate and support as required external and internal auditing processes including the drafting of responses to the audit management letter and ensure the closure and resolution of audit findings
• Produce, monitor and analyse accounting and other financial data and produce financial reports and internal management accounts and reports as required
• Advise management on financial and accounting matters
• Assist management in the procurement process as directed
• Ensure compliance with the financial procedures of the organization
• Co-ordinate with and support other departments at MDB
• Report to management and Board committees
• Participate in the evaluation, selection, application, monitoring and maintenance of relevant financial, management information, and accounting software
• Assist in the recruitment, training, and management of financial and accounting staff
• Provide relevant training to the general staff as required; and,
• Monitor, direct, and report on outsourced financial and accounting work and activities

Data Protection
The MDB shall process information provided by candidates solely for the purpose of this vacancy. In the event of unsuccessful applications, the Bank may keep applicants’ personal data on file for a period up to six months following the date that the post applied for was filled. Applicants’ information will only be used to identify any future employment opportunities within the MDB for which applicants may be suited. Applicants are free to withdraw their application and their consent to the retention of their personal data, at any time. For further information, please read the MDB’s privacy notice which can be found on the Bank’s website (Privacy Notice).