Contribution to strategic direction and policy formulation
- Assist the Managing Director (MD) in the formulation of long and short-term strategy plans in line with the broad company objectives. The incumbent then presents these to relevant stakeholders for ratification and adoption.
- Ensure full understanding of the financial strategies by all business units and participate in the quarterly business unit reviews
Budgeting and cost control
- Facilitate the budget preparation, approval, and review process in order to match stipulated budget against expenditure.
- Review actual expenditure against budget and make recommendations for possible action as well as institutes budgetary control in the division and reports any deviations from budget.
- Verify the fixed asset register and coordinate asset verification to ensure that the company’s fixed assets are properly safeguarded to avoid any loses that will impact on the organisations balance sheet
- Review depreciation charges and subsequent policies and detail the value of the asset periodically and recommend assets to be disposed.
Financial internal controls and systems
- Ensure documentation of internal controls and systems to ensure compliance and financial discipline.
- Communicate to user departments on the requisite controls and systems to be adopted in the daily operations and ensure financial transaction are executed accordingly hence facilitating user departments to achieve their goals smoothly
- Understand the reporting requirements of departments and processes so as to provide accurate usable information specific to requirements as per division n
- Review the prepared periodic financial reports ensuring timely submission according to agreed schedules so as to provide information for decision makers
Management of Accounts
- The incumbent is responsible for the production of monthly management accounts. The position will thus be responsible for drawing up financial management systems, in accordance with the financial and administrative procedures as approved, to ensure sound management accounting
Cash Flow Management & Investments
- Manage general ledger and cash management processes ensuring that all processes are being carried out properly and accurately.
- Plan the cash flows so that the organization is able to meet its obligations without bottlenecks or situations of excess cash being created. The incumbent will be responsible for engaging the banks to find out information concerning current rates on the market and also negotiating rates
Risk and Compliance Management
- Oversee that the department has appropriate risk systems and managing all aspects of the corporation’s corporate, legal and compliance risks in accordance with agreed policies and timetable
- Ensure accurate risk records are maintained, and reporting on a regular basis to the MD and Board of Directors on such issues and recommend on improvement were gaps arise
The Finance Manger is responsible for supporting the Board by ensuring that all board matters are well arranged and well planned. This will be achieved through the following:
- Facilitating board induction. This among other issues will include providing the board members with detailed guidance as to how their responsibility should be properly discharged in the best interest of the organization
- Coordinate respective board meetings, in liaison with the board chairman and Committee chair, and ensure all have attended. This will include assisting the MD to schedule board and subcommittee meetings to ensure board members meet to deliberate on organisational issues.
- Ensure participation in the financial audit preparation and control to ensure the smooth and efficient running of the Audit.
- Meet deadlines on internal audited financial statements as well as providing reports on the audit showing the financial and risk status of the fund.
â€‹â€‹â€‹â€‹â€‹â€‹â€‹Accounting functions and supervision
- Attend to adhoc requests or queries from departments and address accordingly to facilitate smooth flow of business
- File and ensure safe custody of all financial information for future reference
â€‹â€‹â€‹â€‹â€‹â€‹â€‹Education and Qualifications
- Degree in Finance/Accounting or relevant
- Membership to a professional body
- 10 years relevant experience, of which 5 must have been in a managerial role
- 5 at senior management level