Finance Manager

The Group

IDT Services is part of a larger group of companies ultimately owned by IDT Corporation. Its sister entity, IDT Finance, is a leading issuing bank based in Gibraltar with over sixteen (16) years of experience in transforming the future of cross-border payments. IDT Finance is authorised by the Gibraltar Financial Services Commission and has offices in both London and Gibraltar. Meanwhile, IDT Corporation, a dynamic and innovative multinational company, is headquartered in the United States of America and publicly traded on the New York Stock Exchange. The corporation has a global presence, with offices worldwide.

The Company

Supported by IDT Finance, IDT Services Limited is poised to expand the group’s card issuance product offerings across the broader European market and already boasts a strong pipeline of clients ready to launch their card programs and deliver their services to customers across various European markets. In this respect, the Company is the final stages of being granted regulatory authorisation and focusing its efforts to become operational.

Our vision is to empower businesses of all sizes to manage payments more effectively and effortlessly, unlocking potential and inspiring growth. As we expand, we welcome forward-thinking individuals who share our passion for innovation and excellence to join us on this journey. Together, we will redefine card issuance and cross-border payments, by building trusted partnerships and ensuring that our clients have the tools necessary to thrive in an increasingly digital world.

The Department

The selected candidate will collaborate closely with the Company’s Senior Management Team to establish the Finance Department. Initially the Department will be supported by the broader group through outsourcing and resource sharing arrangements.

Role Outline

Reporting directly to the Managing Director, the Finance Manager will be responsible to oversee delivery of IDT Services’ Finance Framework, and the operating procedures and their ongoing implementation with respect to, amongst others, Financial Management and Reporting, Card Programme Financial Management, and Treasury Management.
This role entails:

1. overseeing and contributing towards:
i. the implementation, and enhancement the Finance department’s processes, controls, and documentation taking into consideration the Group’s objectives;
ii. the preparation of financial reports, including management accounts, financial statements, statutory audits, and regulatory filings;
iii. the financial management of the Clients’ card programmes, including safeguarding of payment services user funds, reconciliations, settlements with Card Scheme, and chargebacks;
iv. the Company’s treasury functions, including ensuring compliance with applicable regulatory standards and establishing and maintaining banking relationships;
v. the planning and budgetary processes, including the preparation of financial projections and budgets;
vi. the management and implementation of the Company’s operational financial functions, including cash flows management, accounts payable and accounts receivable, payroll;
vii. external audits and ensure compliance with regulatory requirements;
viii. the management of financial risks, liquidity, and capital adequacy, including stress testing and wind-down planning;
ix. ensuring that the Department’s outsourced functions and/or activities are delivered in line with the established contract/s and service-level agreement/s; and
x. provide support to other group entities as per established agreements

2. Liaise with internal and external stakeholders, including the board of directors, auditors, authorities, card schemes
and clients.

Competencies, Knowledge & Skills

We are looking for candidates with solid academic background in Accountancy, Auditing and/or Finance. The role calls for an academic qualification in a relevant field of study at National Qualification Framework Level 6 or better, duly certified by the Malta Qualifications Recognition Information Centre (MQRIC) or a widely recognised professional qualification at a comparable level in in Accountancy, Auditing and/or Finance. Knowledge in financial services, specifically, electronic money issuance and payment services, regulatory and supervisory reporting as well as proficiency in accounting software Kani, will be considered an asset.
The ideal candidate should also possess a minimum of three (3) years working experience in a senior level role. Candidates with longer working experience relevant to the role will be preferred. If you do not have the necessary academic or professional qualifications but you have at least six (6) years of relevant work experience in a senior role, we would still
be interested in speaking with you.

Other competencies required, include:
– Ability to work under pressure, plan and organise work independently, and meet deadlines.
– High standards of work output with strong analytical and investigative skills for resolving variances.
– Strong numeracy, attention to detail, and proficiency in MS Office, namely MS Word, MS Excel, and MS PowerPoint.
– Excellent verbal and written communication skills with a professional demeanour.
– Self-motivated, proactive, and able to work collaboratively to complete tasks efficiently.
– Adaptive and pragmatic in handling changes and assessing risks.
– Initiative and sound judgment in decision-making.

The holder of this position will be expected to pass the required background checks in line with the Company’s Recruitment Policy and subject to the approval of the Malta Financial Services Authority and any other relevant authority.

Disclaimer
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.