Job Purpose
- The Head of Department Finance is responsible for the efficient management of
the company’s financial resources, ensuring accuracy in financial
reporting and compliance with legal standards. The role involves
developing and maintaining accounting principles, practices and procedures
to support strategic decision making. The role collaborates with various
departments to establish budgets and forecast activities, monitor
financial performance, implement cost control measures and coordinate
year-end organizational audits.
Key
Responsibilities
Financial Reporting and Analysis
- Prepare accurate and timely annual financial
statements, including income statements, balance sheets, and cash flow
statements.
- Conduct financial analysis to identify trends,
variances, and opportunities for improvement.
- Assist the Financial Controller with statutory
reporting ensuring compliance with accounting standards and regulatory
requirements.
- Respond to inquiries made by the Financial
Controller and other managers regarding financial results and special
reporting requests.
- Produce, as required, any ad hoc financial
reports as requested by the Financial Controller
Budgeting and Forecasting
- Collaborating with other departments, develop,
implement and monitor budgets.
- Provide budget utilization and contribution
analysis reports to assist the various departments to manage and monitor
their performance in line with the allocated budgets.
- Analyze budget variances and recommend
corrective actions.
Cash flow Management.
- Provide short term and medium-term cash
forecasting and projections to guide the organization in planning.
- Manage organization cash requirements through a
13-week rolling cash flow analysis.
- Oversee weekly cash management.
- Supervise accounts receivable and payable
management and provide guidance relating to the collection process.
- Oversee the daily bank reconciliation and bank
position reports.
Internal Controls and Risk Management
- Work with Financial Controller and Heads of
Department across the whole organization to ensure financial risks are
identified.
- Develop and implement mitigation strategies of
the identified risks.
- Develop and implement policies and procedures
with emphasis on internal controls.
Taxation and Compliance
- Ensure compliance with all tax regulations and
timely submission of tax returns i.e. PAYE, VAT, Withholding tax etc.
- Working with Financial Controller and others,
coordinate organization annual audit and ensure a clean audit report.
- Develop and implement mitigation strategies of
the identified risks.
- Provide analysis and advice to the Financial
Controller on the potential implications of proposed changes in accounting
rules/policies and legislation/government rules.
Financial Systems and Processes
- Oversee the development and implementation of
new procedures and features to enhance the workflow of the department.
- Monitor and analyse department work to develop
more efficient procedures and use of resources while maintaining a high
level of accuracy.
- Ensure the integrity and reliability of
financial data.
Other
- Coach and mentor staff regarding the handling of
non-routine reporting transactions.
- Develop and implement financial policies and
procedures.
- Participate in the induction of new and existing
staff on financial processes as and when required
- Maintain a proper and well managed physical
filing system of all accounting documents
- Any other responsibility as delegated by
management.
Minimum
Knowledge, Qualifications and Experience required for this role
- Bachelor’s degree in accounting or finance
- Minimum of 8 years working experience
- Proficiency in computer skills
- Knowledge of Cargo wise system
Certification/Membership
- CPA (K)
- CISA (Certified Investment and Security Award)
is an added advantage
Role
Related Competencies (Behavioural Indicators):
- Creativity and innovation
- Multi-tasking
- Prioritization of different tasks
- Strong interpersonal and relationship management
skills
- Excellent communication skills (Verbal &
written)
- Excellent organizational and planning skills
- Ability to work as part of a team in a pressured
environment.
- Attention to detail and ability to maintain
confidentiality.
- Demonstrate problem solving skills.
- High level of integrity and work ethics
Key
Performance Indicators
- Efficiency of cash flow management
- Adherence to tax compliance and timely filing of
returns
- Effectiveness of the internal controls in
preventing errors and loss
- The accuracy and reliability of financial
reports prepared.
- Number of process improvements implemented.
- Budget implementation and monitoring
- Team management – efficiency and productivity of
the team
How to
Apply
