JOB SUMMARY:
A financial manager is responsible for providing Financial Projections, budgeting & cost reduction analysis for the company, to ensure prudence, discipline, and manage funds in such a manner as to maximize return on investment, minimize risk, while ensuring adequate control structure is in place overall financial decisions of the company.
Directly Reports to: MD/CEO
Department: Finance and Accounts
Location: Lagos /Abuja
Key Strategic Management Activities
Maintain a documented system of accounting systems, policies and procedures
Oversee the operations of the Finance & Account department, including the design of an organizational structure adequate for achieving the department’s goals and objectives
Funds Management
Forecast cash flow projections & positions, related borrowing needs, and available funds for investment for the company
Customers’ Orders/Contract award letters – Receive from Account managers and ascertain/provide financial requirement to successful execution of the order/contract (eg Bank reference, Bank guarantee, Performance bond, Payment milestones, etc
Prepare Purchase/Receive Inventory on receiving items from suppliers
Obtain CEO’s approval for all expenses
Review suppliers invoices and schedule for payment after approval
Review I.O.U retirements and request for additional payments and recommend approval or otherwise
Payroll: Review payrolls, make adjustments and advice banks on salaries payment
Liaise with External Auditors and Consultants to ensure that all statutory obligations are met
Reports: Weekly reports on turnover/LPOs received; collections; payments; receivables & Vendors
Reports: Monthly Profit & Loss accounts and Variance analysis
Reports: Quarterly Cash flow Statements and Balance Sheet
Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements
Use hedging to mitigate financial risks related to the interest rates on the company’s borrowings, as well as on its foreign exchange positions
Maintain banking relationships
Assist in determining the company’s proper capital structure
Arrange for equity and debt financing
Invest funds
Recommend appropriate dividend issuances, based on historical dividend patterns and expected cash flows
Budgeting
Manage the preparation of the company’s budget
Report to management on variances from the established budget, and the reasons for those variances
Assist management in the formulation of its overall strategic direction
Financial Analysis
Engage in ongoing cost reduction analyses in all areas of the company
Review the performance of competitors and report on key issues to management
Engage in benchmarking studies to establish areas of potential operational improvement
Interpret the company’s financial results to management and recommend improvement activities
Review company bottlenecks and recommend changes to improve the overall level of company throughput
Participate in target costing activities to create products that meeting predetermined price goals
Assist in the determination of product pricing in relation to features offered and competitor pricing
Compile key business metrics and report on them to management
Manage the capital budgeting process, based on constraint analysis and discounted cash flow analysis
Create additional analyses and reports as requested by management
Desired Qualifications:
The finance manager candidate should have a Bachelor’s degree in finance or accounting, or equivalent business experience and 10+ years of progressively responsible experience for a major company or division of a large corporation.
ICAN & IFRS compulsory, CITN
Preference will be given to candidates who understands accounting rudiments and be able to demonstrate applying them. Excellent communication skills are essential, particularly in regard to presenting the results of analyses to management. Should have an outstanding knowledge of electronic spreadsheets.
Working Conditions: Primarily in an office environment. Will be expected to travel as needed to company subsidiaries.
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