COO - Bureau De Change

Job Title: Chief Operating Officer (COO) - Bureau De Change

Location: Lagos, Nigeria

Sector: Financial Services

Work Structure: Onsite

About the Client

Our client is an emerging, innovative financial services startup focused on foreign exchange and bureau de change operations. As a growth-oriented organization, the company is committed to providing reliable, efficient, and customer-centric currency exchange services. With ambitious plans to establish a strong market presence and sustainable operations, the organization is seeking a senior executive to lead operations, drive profitability, and ensure long-term business sustainability.

About the Job

You will operate in the capacity of the Managing Director, responsible for overseeing the day-to-day operations, strategic planning, and financial performance of the bureau de change. This role will ensure profitability, operational efficiency, regulatory compliance, and business growth. You will define the strategic framework for the business, presenting plans to the Board of Directors, and lead all initiatives to achieve break-even or profitability within the first year.

Principle Duties/Responsibilities

Strategic Leadership & Business Development

• Develop and implement the strategic business framework, aligned with the Boards objectives and market opportunities.
• Identify growth opportunities, revenue streams, and innovative products to enhance profitability.
• Lead market analysis and competitive intelligence to inform business decisions and expansion plans.
• Establish key performance indicators (KPIs) to measure operational success, financial performance, and market penetration.

 Financial Management & Profitability Oversight

• Ensure strong financial discipline and monitor the bureaus financial performance against budgets and targets.
• Oversee cash flow, treasury operations, and currency management to optimize profitability.
• Develop strategies to achieve break-even and sustainable profits within the first year of operation.
• Provide financial reporting, analysis, and recommendations to the Board on business performance and strategic decisions.

Operations & Risk Management

• Oversee daily operations, ensuring efficiency, accuracy, and compliance with regulatory requirements.
• Ensure the bureau operates within all applicable financial, banking, and foreign exchange regulations.
• Implement robust operational controls and risk management practices to safeguard assets and business integrity.
• Lead the establishment of standard operating procedures across finance, treasury, compliance, and customer service functions. 

Regulatory Compliance & Governance

• Ensure full compliance with CBN regulations, anti-money laundering (AML) standards, and other relevant statutory requirements.
• Act as the primary point of contact with regulators, auditors, and other external stakeholders.
• Maintain a culture of integrity, transparency, and accountability across the organization.

Team Leadership & Stakeholder Management

• Build, lead, and mentor a high-performing executive team, fostering collaboration, accountability, and operational excellence.
• Represent the organization to investors, partners, and stakeholders, ensuring strong professional relationships.
• Cultivate a performance-driven culture aligned with organizational values and goals.

Job Requirements

• Bachelors degree in Accounting, Finance, Economics, or related discipline.

• Must be a chartered Accountant (ACA, ICAN, ACCA) or Chartered with CIBN.
• Professional certifications in financial management, risk management, or business leadership are an advantage.

• Minimum 10–15 years of senior management experience within the financial services sector, banking, or related industries.
• Proven experience in managing bureau de change, foreign exchange, or treasury operations.
• Track record of driving profitability and operational excellence in startup or growth-stage financial organizations.
• Experience working with Boards and managing multi-functional teams in high-stakes environments.

• Deep understanding of the financial industry, banking operations, currency markets, and bureau de change regulations.
• Financial planning, treasury management, and risk mitigation strategies.
• Regulatory compliance requirements for BDC operations, including CBN and AML standards.