SCOPE OF THE ROLE:
Formulation of Financial Plans&Forecasts
Financial Accounting and Reporting
Budgeting
Relationship with Financial Institions& Outsources Services
Investor relations and investment Management
Inventory Control and Management: Assets and Stock
Managing Creditors & Debtors
Sustainability Reporting
Risk and Compliance Management
KEY RESPONSIBILITIES:
(Give task & the major end results the job is expected to achieve)
Assist in formulating the company’s future direction, performance measures and tactical initiatives that support the company’s strategic direction.
Producing and Interpreting accurate&Timely financial information i.e Annual/Quarterly/Monthly reports, statements, accounting records, Management Accounts and advice the Managing Director on the significance of the same as well as identifying, evaluating and presenting options for decision making
Researching and reporting on factors influencing business performance including analyzing competitors and market trends to formulate counter-strategies
Developing external relationships with appropriate contacts, e.g. auditors, bankers and statutory organizations such as the Kenya Revenue Authority
Keeping abreast of changes in financial regulations and legislation.
Analyze new and existing financial processes to ensure they are carried out in compliance with financial legislation, policies and procedures and adherence to terms
Liaising with auditors to ensure annual monitoring is carried out and responding to auditor’s comments concerning finances and operations and oversee required action to address deficiencies.
Coordinate banking services, reconciliation and custody of funds, securities and financial instruments as well as preparing reports which summarize and forecast financial position in areas of levy collections, expenditure and investments.
Coordinate and monitor the company’s investment of surplus funds, also devise and implement effective strategies for managing working capital and expenditure programmes.
Coordinate the preparation of tax returns to ensure compliance with periodic tax payments, information reporting and other statutory requirements as well providing advice to the Managing Director on effective strategies for minimizing tax liability.
Develop and manage accounting and financial systems and maintain full and accurate accounting records.
Managing and controlling budgets through monitoring the company’s expenditure trends and provide timely advice and explanation on potential over and under spends to senior management
Participate in key decisions as a member of the SeniorManagement team
Operations
·Support individual departments in the financial planning and implementation of plans, provide financial advice and guidance to senior management.
Oversee credit control
Manage the accounting, investor relations, legal, tax, and treasury functions and activities
Oversee the company’s transaction processing systemswhilst ensuring operational best practices
Oversee employee benefit plans, with particular emphasis on maximizing a cost-effective benefits package
Supervising staff and motivating staff under him/her
Risk Management
Understand and mitigate key elements of the company’s risk profile
developing financial management mechanisms that minimize financial risk including constructing and monitoring reliable control systems
Maintain appropriate insurance coverage
Ensure that the company complies with all legal and regulatory requirements
Ensure that record keeping meets the requirements of auditors and government agencies
Report risk issues to the audit & Finance committee of the board
Maintain relations with external auditors and investigate their findings and recommendations
Conducting reviews and evaluations for cost-reduction opportunities
Reports:
Issue timely and complete financial statements
Coordinate the preparation of the corporate annual report
Recommend benchmarks against which to measure the performance of company operations
Calculate and issue financial and operating metrics
Manage the production of the annual budget and forecasts
Calculate variances from the budget and report significant issues to management
Provide for a system of management cost reports
Provide financial analyses as needed, in particular for capital investments, pricing decisions, and contract negotiations
Supervisory Responsibilities:
Works with all departments in communicating and ensuring compliance of financial plans and budgets
Direct Supervision of: Finance Officer
DESIRED COMPETENCIES
Ability to compile finance reports, cash flows and financial statements
Good product costing knowledge
Excellent interpersonal and communication skills both written and verbal
Demonstrate Negotiation skills
Good Knowledge of (IFRS) International Financial Reporting Standards
Demonstrate knowledge and experience with an ERP and Financial InformationSystem
Risk management
Good Knowledge of Management systems (i.e. BSCI, ISO 22000)and prerequisite controls
EDUCATION AND EXPERIENCE:
University graduate in Commerce (Finance Option) or other related business degree, masters degree in accounting or business administration will be n added advantage
7+ Years of progressive experience in Financethree of which must be in a Chief Accountant/Senior Accountant role preferable in a busy Manufacturing or Production environment.
Certified Public Accountant of Kenya CPA (K) or equivalent, ACCA
Certified Member of ICAK or any other professional Body
