Role Purpose
The role holder has overall responsibility to the Chief Executive Officer in overseeing and managing the financial and commercial systems and operations of the company. This includes responsibility for financial operations, financial policies and processes, risk management, treasury management, financial regulatory and reporting, company commercials, financial internal controls & monitoring, budgeting, and forecasting of the business in accordance with the business strategy.
Key Responsibilities
Internal Controls
- Reviews and develops business procedures that ensure integrity of reporting.
- Lead the process in creating, developing, and/or proposing and implementing inventory management systems and controls.
- Facilitates sub ledger balancing processes and controls to ensure the integrity of recording at sub ledger level.
- Oversees and reviews monthly bank reconciliations of all balance sheet accounts.
- Actively participates and coordinates the activities in the department during audits and ensures timely resolution of all raised audit queries.
Cashflow Management & Short-Term Funding Requirements
- Prepares and shares with the CEO and Directors 12-month rolling cash forecasts to manage liquidity of the company.
- Monitors cashflow to determine any anticipated cashflow constraints so as to inform the CEO and Vertical Chief Financial Officer or designee.
- Coordinates working capital management initiatives to ensure cash flow targets are met for all business lines in the company including inventory.
Profitability & Margin Management
- Prepares regular monthly detailed analysis of company and/or business unit profitability, highlighting to the CEO and Directors areas that require focus and attention.
- Leads development of and drives implementation of initiatives and action plans to improve gross margin and business performance.
- Leads in preparation and presentation of detailed cost analysis including plant performance and productivity measures:
- Factory costs
- Discount Structures
- Warehousing and distribution
- Overheads
- Factory OEEs and/or other plant performance tracking measures
- Reviews and analyses warehousing and logistics costs with a view to proposing areas of cost improvement.
- Analyse, review, and prepare reports on product category and customer profitability for presentation to the CEO and Directors.
Product Costing & Capital Expenditure Planning
- Collecting and analyzing data about the company's operational costs with a view to ensuring accuracy of product costing.
- Review and coordinate with the CEO the capital expenditure budget for the company and/or business unit.
- Prepare business cases analysis on investments to enable Management make appropriate and informed decisions.
Inventory & Debtors Management
- Propose, develop, and implement procedures and controls to manage inventory and inventory movements.
- In liaison with the Stores Manager and Production Manager, review and determine the appropriate and ideal inventory level and range.
- In liaison with the Stores Manager and Materials procurement team, determine the optimal order quantity and re-order levels.
- Propose or develop and implement an inventory ageing analysis system and report for presentation to Management as and when required.
- Make provisions and recommend writing off of slow moving and obsolete stocks (Stock impairments) to the CEO and Directors.
- In liaison with the Group Credit Control team, coordinate debt collections and follow-ups to ensure collections are within agreed timeframes and credit terms.
- Review, monitor, and report on bad and doubtful debts to the CEO and Directors. Make recommendations and proposals on follow-up plans or closure of debts.
Costing & Month-End Reporting
- In liaison with vendors and suppliers, ensure raw material prices are updated on a monthly basis.
- Review the market and analyze to check on the validity of product costings.
- Put in place month-end procedures to meet reporting requirements based on agreed standards and timelines.
- Ensure a full and regular reconciliation of all balance sheet accounts.
- Review team's work and approve month-end entries and provisions.
- Ensure management accounts are completed accurately and presented as per agreed timelines.
Statutory Compliance, Budgeting & Fixed Assets
- Liaise with HO to track and ensure all statutory requirements (Tax/VAT) are delivered accurately and on time.
- Coordinate and compile the company's/Business Unit budgets, including capital expenditure budgets as well as financial statements.
- Maintain and oversee the fixed assets register, calculate depreciation entries, maintain records for deferred tax calculations, and lead annual physical assets verification exercises.
Commercial Management & Logistics
- Take lead on procurement function and liaise regularly with raw material and production planning teams.
- Place import orders every month for quantities required based on forecast review meetings with the CEO/GM, Production Manager, and sales team.
- Take responsibility in liaison with CEO/GM to approve purchase orders.
- Approve import purchase orders, IDFs, insurance applications, and import duty payments.
- Process and approve transporter quotes and freight invoice amounts.
- Check and review LC applications before approval.
Departmental HR, HSE & Financial Management
- Supervise, coach, and train finance department employees.
- Define employee performance objectives and conduct performance appraisal sessions.
- Identify departmental skills matrix and manpower planning requirements in liaison with HR.
- Supervise finance offices for health, safety, and environmental compliance.
- Provide strategic recommendations on business operations, revenue/expenditure trends, and financial commitments.
Essential Qualifications & Experience
- Degree in Finance, Economics, or related Accounting field, or Chartered Accountant / ACCA / CIMA qualification.
- Minimum 10 years' experience leading the finance function in a large multicultural organisation with a proven track record of financial strategy implementation and financial prudence.
- Must have knowledge in the use of business software / ERP systems (SAP is an added advantage).
- Practical working experience in setting up and overseeing internal controls.
- Knowledge of ISO Management systems is an added advantage.
Key Attributes
- Strong financial business acumen with C-suite and key stakeholder management experience.
- Adept at formulating strategies, concepts, and coping with pressure.
- Strong negotiation, clear communication, and persuasive skills.
- Results-driven with high integrity, ethical practice, and an eye for detail.
