Manages the company’s financial resources and activities in a manner that ensures profitability, solvency, going concern and growth.
MAIN DUTIES & RESPONSIBILITIES
BUDGET DEVELOPMENT AND CONTROL
Coordinates the business planning and financial forecasting cycles for company;
Receives section budgets and consolidates the same into overall company budgets;
Monitors budgets performance and variance and initiates corrective action;
Develops, implements and maintains a day – to – day cost management system that will help the company keep operating costs within approved budgets;
Executes financial investigations and evaluations of company projects or new business initiatives with the view to adequate forecast financial requirements and increase shareholder value;
Manages cash-flow and prepares periodic cash-flow statements;
Ensures all reconciliations are completed and cleared within stipulated times;
Develops and maintains adequate and effective financial and cost controls for the company;
Maintains accurate and complete books of accounts and properly accounts for all income, and expenses, assets and liabilities;
Reviews creditors, bank and general ledger reconciliations
Reviews and authorizes payments for processing;
Ensures the timely production of accurate and complete set of financial reports;
Designs, implements and maintains internal financial control systems;
Develops and maintains a reliable management and cost reporting system for the company to ensure accurate and on time reporting;
Ensures cost allocation codes are properly maintained;
Develops and maintains systems that facilitate benchmarking of the company‘s performance against similar operations in the industry with a view of reducing costs to the lower quarter of the industry cost curve;
Develops, implements and maintains adequate internal controls that will ensure correct asset valuations and reporting of inventories and stocks;
Produces and submits tax computations and returns for the company;
Ensures that all statutory returns are submitted within stipulated time;
AUDIT AND AUDIT PREPARATION
Liaises with internal and external auditors in completing audits;
Prepares draft financial statements in preparation for the financial audit;
Clear queries and facilitates the audit process;
Supervises staff in department and ensures staff discipline;
Manages staff performance and determines and recommends training needs and interventions;
Ensures the department is adequately staffed with people and skills at the right level.
Overall, decisions pertaining to the main duties and responsibilities of this job are guided and directed by company policy, strategy and the laws of the country. Where challenges are faced, the incumbent is expected to consult his/her immediate supervisor. Howbeit, the job incumbent can make the following decisions without necessarily consulting his/her supervisor:
Presentation and treatment of financials (in compliance with accounting standards);
Application of financial approval framework;
Allocation of financial resources and manages cashflow;
Approval of reservations and invoices to a limit;
Treatment and resolution of all finance issues and queries;
Schedules report generation and ensures deadlines are observed;
Manages staff in department.
Listed below are the typical work related problems that may be experienced in this position. The incumbent (and the immediate supervisor) are advised to refer the critical skills and competencies section of this job description for skills and competencies required to deal with some of these challenges:
The demands on the job are very dynamic. This may require someone who is more spontaneous that rigid – this is, who is able to effectively deal with random changes will maintaining the overall programme plan;
Compliance with stipulated tax requirements and dealing with regulatory authorities;
Coordinating people that may not understand the purpose of particular activities;
This job coordinates data supply from departments/ functions that do report to this position. This often results in a delay of supply of information that is critical for meeting the KPI’s of this job;
Cost control and achieving performance targets – profitability.
The planning horizon of this job ranges from 3 months to five years. Short term plans, medium term plans and long term plans are developed and implemented by the incumbent. Listed below are examples of plans (planning) that are made by this job:
Scheduling of work to meet predetermined deadlines;
Financial planning for projects;
Budgeting – operations;
Report preparation and submission;
Audits (internal and external);
Manpower planning in department.
ACADEMIC QUALIFICATION/TRAINING REQUIRED
Academic Qualification and Experience
Degree in Accounting/ Finance
The ideal candidate must be a qualified Chartered Accountant.
A masters' degree in MBA or any other relevant master's degree will have an added advantage.
4 years of experience in a senior managerial role.
Experience in FMCG is an added advantage
Additional Training Required
The incumbent may need the following on-going training in-order to perform this job effectively:
General Seminars And Workshops In Accounting, preferably around:
International Financial Reporting Standards and International Accounting Centre
Tax and Compliance;
CRITICAL OR TECHNICAL COMPETENCIES REQUIRED
Must have excellent process evaluation and analysis skills and understands the various finance and management related legislations;
Must have excellent technical and practical skills in financial management;
Must be able to develop, evaluate and interpret financial statements;
Must have good communication and negotiation skills;
Must have a thorough understanding of market trends and related dynamics and be able to advice management accordingly;
Must be able to formulate and implement effective and efficient cost management strategies;
Must have proven accountancy, budget formulation and budget control skills;
Must be an innovative and business oriented person with a thorough grounding in business management and dynamics;
Must have proven team leadership skills;
Advanced knowledge of the Microsoft Office suit of package;
Must have knowledge of relevant accounting packages.
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