Finance Manager

JOB PURPOSE/SUMMARY:

The Finance Manager is responsible for overseeing and managing the financial operations of the company, ensuring financial targets are met, and financial risks are minimized. This role includes managing books and accounts, compliance with financial regulations, and maintaining relationships with external stakeholders such as auditors, investors, and lenders. The Finance Manager plays a leadership role within the Finance function and requires strong technical knowledge, business acumen, and a commitment to ethics and organizational values.y

KEY RESPONSIBILITIES AND ACCOUNTABILITIES

1. Team Leadership (10% of time

• Define key performance indicators (KPIs) for the finance team in alignment with company objectives
• Develop individual development plans for team members, including succession planning
• Monitor team performance against objectives and provide guidance and intervention as needed
• Encourage open communication and feedback within the team

2.Bookkeeping and Compliance (35% of time)

• Maintain accurate books of accounts
• Ensure adherence to International Financial Reporting Standards (IFRS)
• Ensure COSO compliance across the organization
• Oversee VAT and corporate tax compliance
• Manage ESG/ESR and TP compliance where applicable
• Ensure timely and smooth closure of internal and external audits, aiming for unqualified audit opinions

3.Financial Planning and Analysis & Reporting (15% of time)

• Facilitate budgeting and forecasting processes, leading accounting functions workstreams and creating decision support systems
• Monitor financial performance and provide monthly reporting to stakeholders as required
• Analyze performance against the budget, identify key drivers, and create initiatives to preserve shareholder value
• Evaluate recommendations and lead process and system optimization efforts
• Evaluate and oversee the implementation of financial planning tools and reporting systems (e.g., Hyperion or equivalent)

4.Treasury (10% of time)

• Maintain appropriate credit lines to support operations and growth
• Manage the optimal debt structure
• Manage shareholders expectations on PCR (Profit-Cash Ratio)
• Ensure timely settlement of debt obligations
• Monitor and manage financial covenants
• Effectively manage working capital

5.Financial Operations (20% of time)

• Manage accounts payable and receivable functions, ensuring timely invoicing and collections
• Ensure efficient and compliant procurement processes
• Review and oversee monthly bookkeeping and closure activities
• Monitor and meet financial KPI targets
• Oversee Inventory and Fixed Assets processes
• Maintain accurate financial records and documentation

6.Business Partnerships (10% of time)

• Collaborate with key leaders across functions to drive excellence in operational performance, commercial tenders and proposals, systems optimization, cost management, strategic & growth initiatives, learning & development, and decision support

QUALIFICATIONS, EXPERIENCE AND COMPETENCIEES

Minimum Qualifications: (Education/Certification/Licensure/Professional Membership)

• Bachelor's degree in Accountancy, Finance, or an equivalent discipline.
• Relevant professional membership/certification/license, such as Certified Public Accountant (CPA), Chartered Accountant (CA), Certified Management Accountant (CMA), or Association of Chartered Certified Accountants (ACCA)

Minimum Experience:

• 8 to 10 years of progressive experience in finance.
• 3 to 5 years of experience in leading the finance function with a team size of 5 or more staff members.

Job Specific Competencies.

1.Qualified Accountant: This competency signifies that the Finance Manager holds a recognized accounting qualification, such as CPA, CA, ACCA, or CFA. He/she should have a deep understanding of accounting principles, practices, and regulations. This competency also entails staying up-to-date with evolving accounting standards, ensuring accurate financial reporting, and compliance with relevant regulations. The Finance Manager should be able to interpret and apply accounting standards effectively, especially in complex financial transactions.

2.In-depth Knowledge of IFRS: International Financial Reporting Standards (IFRS) are a crucial aspect of financial reporting for many organizations, particularly those with international operations. The Finance Manager must demonstrate expertise in IFRS, understanding the intricacies and nuances of these standards. This includes the ability to navigate complex financial transactions, mergers and acquisitions, and reporting requirements under IFRS. Staying current with updates and changes to IFRS is essential to maintain compliance.

3.ERP Experience: Enterprise Resource Planning (ERP) systems are integral to managing financial operations efficiently. This competency implies that the Finance Manager should be well-versed in utilizing ERP software to manage accounting, financial reporting, and financial planning and analysis. Proficiency in ERP systems helps streamline financial processes, maintain accurate records, and generate meaningful financial reports for decision-making.

4.Ability to Partner with Leadership and Other Functions: Collaboration is key in the modern business landscape. The Finance Manager should have strong interpersonal and communication skills to effectively collaborate with leaders from various departments. This competency involves building relationships, understanding the needs and goals of other functions, and aligning financial strategies to support broader organizational objectives. The Finance Manager should be able to contribute to cross-functional projects and initiatives, offering financial insights and guidance.

5. Financial Analysis and Decision Support: Financial analysis is a core competency for a Finance Manager. This involves the ability to analyze financial data, identify trends, and extract meaningful insights. The Finance Manager should be adept at providing decision support by translating complex financial information into actionable recommendations for senior leadership. This includes evaluating the financial impact of different courses of action and making data-driven recommendations.

6.Strategic Thinking: Finance Manager plays a pivotal role in shaping the financial strategy of an organization. This competency involves the ability to think strategically, assess long-term financial implications, and align financial plans with the organization's strategic goals. Strategic thinking encompasses risk assessment, capital allocation, and evaluating investment opportunities to maximize shareholder value.

7.Leadership and Team Development: As a leader within the finance function, the Finance Manager should possess strong leadership skills. This competency entails guiding and developing the finance team, setting performance expectations, and providing coaching and feedback. Effective leadership promotes a motivated and high-performing finance team that can contribute effectively to the organizations success.

8.Regulatory Compliance: Financial regulations are ever-evolving, and compliance is crucial to avoid legal issues and financial penalties. The Finance Manager should have a deep understanding of financial regulations relevant to the industry and geographic region in which the organization operates. This competency involves ensuring that the organization complies with tax laws, ESG (Environmental, Social, and Governance) reporting requirements, transfer pricing regulations, and other relevant financial regulations.

9.Ethical Judgment: Upholding ethical standards is paramount in finance. The Finance Manager should possess unwavering commitment to ethical conduct and integrity. This includes promoting ethical behavior within the finance team and across the organization, making ethically sound financial decisions, and ensuring compliance with ethical guidelines and codes of conduct.

10.Risk Management: Given the role's responsibility for financial operations and compliance, a strong understanding of risk management is critical. This includes identifying financial risks, implementing risk mitigation strategies, and maintaining a robust internal control framework to safeguard the organization's assets and financial integrity.

11.Communication and Presentation Skills: Effective communication, both written and verbal, is essential for conveying complex financial information to diverse audiences, including senior leadership, board members, and external stakeholders. The ability to present financial data in a clear, concise, and persuasive manner is vital.

12.Crisis Management: Financial Manager should be prepared to respond to financial crises or economic downturns. Competency in crisis management involves developing contingency plans, assessing financial resilience, and making prudent financial decisions during challenging times.

13.Data Security and Privacy: With the increasing importance of data security and privacy, Finance Manager should be aware of data protection regulations and best practices for safeguarding financial information. This includes ensuring compliance with data privacy laws and implementing security measures to protect financial data.