Job Purpose Oversees and co-ordinates the day to day activities of the Financial Control function to ensure alignment with the overall goals and objectives of the organization as well as ensure compliance with all statutory and regulatory requirements for which the Financial Control function is responsible.
Reports to: Regional Head of Finance and Supply Chain
DUTIES AND RESPONSIBILITIES
Serves as key adviser to the CFO on financial issues; interpretation of accounting and tax regulation matters
Works closely with and supports relevant group functions especially the Group Head of Financial Control and Group Head of Tax
Works directly with the CFO, Group Head of Financial Control and other senior regional and Group executives on major finance projects with a significant financial impact for example IFRS Conversion, Transfer Pricing, ERP implementation and Planning Tool implementation
Monitors all third-party payments to ensure that such payments are justified by the value of work successfully completed and are in alignment with the approved budget
Works with the CFO to prepare the functions annual budget and monitors its implementation
Authorises expenditure/transactions in line with the company’s approved financial authority limits
Oversees the preparation of periodic financial and management accounts in line with Group reporting requirements
Reviews the organisations financial performance and prepares the company’s financial reports in line with statutory reporting process
Manages effective relationship with banks ensuring timely response to requests/inquiries
Develops and maintains appropriate tax structures in compliance with statutory regulations and ensures prompt payment of tax, insurance premiums and other statutory fees
Manages accounting applications and filing systems and resolves any accounting entry discrepancies
Prepares draft financial statements to be audited, ensuring the statements reflect the company’s financial position and comply with statutory and regulatory requirements
Assesses financial adjustments proposed by auditors to be in line with IFRS and accounting standards
Responsible for the organisations’ Order To Cash cycle
Manages the accounts payable and accounts receivable portfolio
Reviews the reconciliation of all ledgers and puts in place adequate controls to reduce discrepancies. Uses insights gained for the preparation of year end trial balance and financial reports
Manages the company’s payroll system and ensures it remains fit for purpose
Builds and develops the Financial Control team. Assesses resourcing as well as training needs and ensures that these are adequately addressed to strengthen the Financial Control function
Manages risk and control within the function
KEY PERFORMANCE METRICS
Financial Reporting
Timeliness and accuracy of periodic financial reports
Relevance of reports to decision making
Sanctions from regulatory authorities arising from late or inaccurate statutory reports
Financial Performance
Account receivables in days
Percentage of overdue invoices
Percentage of bad debts against invoiced revenue
Tax Compliance
Timeliness in rendition of statutory payments
Number of defaults recorded
Ratio of compliance cost to company’s revenue
Ratio of tax liability to company profits
Accuracy of tax assessment and records
Portfolio Management
Accuracy of the books for accounts payable and receivable
Number of initiatives taken to retrieve funds hereby reducing the account receivable balance
Accounts Management
Integrity of physical and electronic accounting information
Timely resolution of accounts discrepancies
Timely reconciliation of accounts
Number of timely losses identified
EDUCATION AND EXPERIENCE
Academic Qualification(s):
Minimum of Bachelor’s Degree in a quantitative field.
MBA or Masters degree in related discipline would be desirable
Professional Qualification(s):
Should be a qualified accountant. Relevant professional certifications include CPA, ACCA, ICAEW
Experience (Number of relevant years):
Minimum of 8 years of relevant experience at least 3 of which should be at a managerial level. Experience with ERP systems would be desirable.
KEY SKILLS AND COMPETENCIES
1 Financial Strategy/Planning
2 Financial Management
3 Accounting Operations
4 Financial Performance Reporting
5 Tax Management
6 Asset Management
7 Management accounting
8 Business Valuation
Competencies Proficiency Level
People Development
Initiatives undertaken to resource and build the Financial Control team
Initiatives undertaken to develop the teams skills
Relationship Management
Turnaround time for approval of fund requests by financiers
1 Strategic perspective
2 Leadership
3 Problem solving and analytical thinking
4 Communication (written, verbal, presentation)
5 People development
6 Relationship management
7 Negotiation
8 Risk management
WORKING CONDITIONS
Work Cycle 8am – 5pm (May vary occasionally)
Work tools Internet Enabled Computer, Printer, Telephone, Internet enabled computer
Travel requirement Occasionally
Physical Exertion Limited
Work Exposure Corporate office environment
Staff Name Signature Date
Employee
