The Finance Manager is responsible for financial planning and management, forecasting and budgeting to drive business performance and the achievement of corporate goals. The jobholder provides support to the executive management team in the creation and execution of the organization’s business strategy. S/he leads the development and implementation of the organization’s financial strategy and provides periodic and ad-hoc reports on business performance to facilitate business planning and strategic decision making. The Finance Manager oversees accounting and finance activities and ensures timely and accurate financial reporting, the effectiveness of the accounting system, internal controls and compliance with regulatory and other applicable standards. S/he provides leadership, direction, and management of the finance team.
Financial planning & budgeting
- Develop finance strategies; lead budgeting and forecasting; support strategic and business planning and possible expansion.
- Develop financial business cases for proposed investments
- Oversee the investment of funds and manage associated risks.
- Manage budgetary processes to ensure all budgets adequately reflect periodic resource requirements and revenue estimates for the business.
- Ensure surplus funds are properly invested
- Liaise with external financial services organizations, and investors as may be required, to ensure the business remains adequately funded in terms of Debt, Equity, and Working Capital requirements.
- Develop long-range financial plans to support organizational objectives and decision-making
- Ensure all capital and operating expenditure are within budget and in line with relevant approvals
- Manage the budget, monitor budget implementation, highlight deviations and recommend appropriate interventions
- Keep abreast of changes in the industry, financial regulations and legislation; ascertain implications for the business and advice management accordingly
- Manage organizational cash flow and optimize financial resources
- Regularly monitor the company’s cash flow position to anticipate and provide operational liquidity requirements
- Identify and deploy cost-saving initiatives. Develop and implement cost control/ management strategies and system to ensure optimal utilization of available financial resources
- Assist with resource prioritization and allocation
- Monitor and manage financial and related risks
- Provide and interpret financial information for practical application, to guide operations across departments and the organization
- Oversee and advise management on investment activities; provide advice/recommendations relating to financial and tax considerations of investments, as well as other business transactions.
- Oversee credit and treasury management activities, or collaborate with responsible officers where applicable
- Establish and maintain good working relationships with banks and other financial institutions and tax institutions
- Prepare winning presentations and proposals to investors/financiers for debt/equity capital raising efforts
- Conduct financial analysis and risk assessment on existing investments and project proposals, including building and interpreting financial models
- Conduct due diligence on prospective investment opportunities
Accounting & Financial reporting
- Establish and maintain corporate accounting policies and procedures
- Develop and implement policies and procedures to identify, resolve and document accounting issues, as well as procedures to drive efficient, accurate closing and reporting
- Manage the company’s accounting systems and procedures, and ensure they are up-to-date and in compliance with all applicable statutory and regulatory requirements.
- Coordinate the preparation of financial statements; review and ensure accuracy of accounting records; ensure timely and accurate financial reporting
- Facilitate and coordinate the preparation of year-end closing and financial statements
- Review monthly accounting close process; conduct an analytical review of the monthly operating results
- Co-ordinate the periodic financial performance monitoring and reporting activities of the Company.
- Provide monthly and other periodic financial results including various analysis, highlighting financial and operating KPI performance versus target
- Review monthly financial statements and other informational reports.
- Participate in Board and Annual General Meetings as required; prepare management and other relevant reports for these meetings
- Supervise the upkeep and management of the company’s fixed assets and stock inventory
- Ensure ample and proper documentation of all financial information and documents by maintaining an orderly and easy retrieval filing system
- Maintain a robust system of accounting controls
- Develop strategies to defer, minimize the company’s tax liability within the confines of the laws
- Monitor and ensure complete and accurate tax accounting and compliance
- Advice and ensure that the company complies with periodic tax payment, information reporting, and other statutory and regulatory tax requirements
- Coordinate audits by various taxation authorities and negotiate with tax authorities over tax payment issues.
- Ensure all departments comply with all relevant tax laws: PAYE, VAT, WHT, CGT etc.
- Lead and manage the activities of the unit and others as assigned
- Manage performance; facilitate development; coach and supervise the team
- Perform other duties as assigned by the CE
- Minimum of a Bachelor’s degree or equivalent in Accounting, Finance or a Business discipline (Minimum of Second Class Lower)
- Professional accounting certification ACA or equivalent
- Certified Financial Analyst (CFA) is desired
- MBA or relevant Master’s degree would be an added advantage
- Minimum 10 years’ experience in accounting and finance with working knowledge of financial advisory, corporate finance, project finance or private equity with at least 5 years’ managerial experience
- Proven experience as CFO, Finance Manager or relevant role
- Working knowledge of SAGE ERP/Accounting application