The Head of Finance will be in charge of the overall financial health of the company. Reporting to the VP Operations and Finance, the position will offer support, to both Paygo Energy Limited and Paygo Inc., by creating capital structures for both equity and debt, as PayGo prepares to scale into Series B and to ensure all financial controlling activities carried out by the finance department are executed in a timely and accurate manner to the expectations of PayGo Energy’s Senior Management Team and Board.
In detail the scope for this position will involve:
Financial Planning and Analysis
Maximizing shareholder value through long and short term financial planning and the implementation of various financing strategies.
Develop and implement robust budget and rolling forecasting processes for all operations that drive business performance.
Oversee the implementation of the analysis of strategic financial business planning and tax strategies in order to control impact across the company.
Develop, measure, and maintain key financial metrics.
Ensure that the budgeting process delivers well-defined operational plans to meet business objectives.
Enhance financial controls, policies, procedures and processes that support strategic business plans.
Continued development of financial systems and participation in the corporate policy development process.
Budget and Expenditure Management including Variance Analysis
Financial Reporting
Using financial data and modelling to support and inform financial decision making.
Management and financial reporting to the VP – Finance and Operations and to the Board of Directors, when required.
Periodic (monthly, quarterly & annual) Financial Reporting to Senior Management and financial performance content for the Board Decks
Monitor financial performance against budget plans, preparing periodic reports, explaining variations, highlighting risks and upsides and recommending and implementing appropriate actions to reflect changing circumstances.
Timely and accurate preparation of financial reports and meeting of reporting deadlines for all entities under the organisation
Compliance with taxation, capital, regulatory and statutory accounting requirements.
Management Accounts and Reporting
Financial Operations
Lead the Finance function and be responsible for all aspects including tax, treasury, financial planning and analysis and compliance to regulatory and statutory reporting requirements.
Working Capital and Operating Cash Flow Management.
Manage all the organisation’s accounts in the US and Kenya and their respective currencies to ensure adequate, accurate and efficient deployment and allocation of funds
Review and approve expenditure documents received from all departments.
Manage the day-to-day operations of the finance department that include the management of the finance departments’ staff, performance evaluation, skills gap analysis and recommendation of their developmental needs.
Produce monthly & yearly P&L, balance sheets and cash flow, and forecasts of the same.
Liaison and maintain relations with Bank/lender and other authority/public contacts, including Kenya Revenue Authority, the Energy Regulatory Authority and Ministry of Energy when required.
Ensure the organisation discharges its financial commitments promptly and efficiently and has adequate cash flow to do so.
Appraise and evaluate proposals affecting the business that have significant financial implications.
Work with the auditors to accomplish year-end audit and quarterly interim audits in a timely and efficient fashion.
Enterprise Resource Planning
Oversee the current ERP system and propose process enhancements to transition into a top of the range ERP system.
Fund Raising and Business Development
Supporting the VP in negotiations to scale B2B commercial agreements.
Supporting the CEO and VP Finance and Operations in sourcing capital in the form of debt or equity
Overseeing loan negotiations
Determining the companies borrowing base and needs
Cost of Capital Management (Fund Raising)
Oversight on Data room preparations prior to capital raises
Oversight on Due Diligence Questionnaires responses
Prefered Skills and Qualifications.
Masters Degree is always an added advantage but not mandatory, otherwise a first degree in a relevant field is a must.
CPA(K); ACCA or its equivalent.
Registered and certified member of ICPAK
Eight or more years’ experience in corporate finance, or a blend of financial control and corporate finance
This description is not exhaustive and it is expected that the Head of Finance will be able to adequately carry out functions that may not necessary be listed here when called upon to do so as they present themselves.
