Financial Controller

The Financial Controller is responsible for the development and implementation of financial and accounting policies, for the maintenance of internal control, procurement and financial management systems.

JOB OBJECTIVES

The Financial Controller is responsible for the development and implementation of financial and accounting policies, for the maintenance of internal control, procurement and financial management systems. This will lead to the proper functioning of the financial and accounting operations and facilitates the efficient and effective monitoring of the company’s financial affairs.

KEY OUTPUTS

• Prepare and execute Financial Plans and Budgets of DHDL
• Formulate and implement Operational and Work Plans for the Finance and Accounts Unit
• Reports submitted to Executive Director, Board of Directors and Government Bodies:
  • Financial Management Reports
  • Quarterly Review Reports on Operations – Ministry of Tourism
  • Quarterly Contract Body Report – Office of Contractor’s General
  • Other Financial Reports as requested by the relevant Ministries
• Audited Financial Statements prepared and distributed

KEY RESPONSIBILITY AREAS

Management /Administrative Responsibilities

• Ensuring that he/she and the staff of the Finance and Accounts Unit are conversant with DHDL policies and objectives
• Assisting in the development of DHDL’s Corporate Plans and Operational Plans
• Responsible for the development of the Unit’s financial reporting and information systems
• Ensuring that staff is in place and the required functions are being performed efficiently
• Ensuring that staff possess working knowledge of all accounting standards, audit standards, procurement procedures and all relevant legislation and agreements affecting the operation of the company
• Assigning responsibilities, setting targets and reviewing staff performance
• Liaising with external entities that impact the proper running of the affairs of the Finance and Accounts Unit and ensuring compliance with the legal obligations – (Ministry of Finance and Planning, Revenue Agencies, financial institutions, Ministry of Tourism, etc.)

Technical/ Professional Responsibilities

• Ensuring that the appropriate practices and procedures are in place in respect of the internal controls and financial reporting systems, related manuals are updated periodically and operating staff are kept abreast of changes
• Following the guidelines of the FAA Act   and the Public Body Management & Accountability Act for safeguarding and maintaining assets
• Preparing the Finance and Accounts Unit’s medium strategic plans, annual work plans, financial plans and budgets
• Managing the company’s budget and cash flow resources to adequately meet operational expenses as well as capital commitments
• Establishing and managing the procedures for the processing of disbursements
• Reporting to the Executive Director and Board of Directors on the financial status and operating efficiencies achieved and any important trends and changes that would influence the decision making planning processes
• Establishing and managing the payroll system to ensure accuracy, confidentiality and timeliness and that all statutory payments are remitted to relevant authorities within the required time frame
• Liaising with the external auditor to ensure the audit of accounts on a timely basis
• Ensuring the conduct of periodic systems audit
• Ensuring that adequate backup systems are maintained
• Monitoring the performance of the external Fund Managers to ensure that the investment portfolios secure and earning  optimal yields in accordance with the guidelines
• Verifying the accuracy of billing data and invoices prepared by Senior Accountant
• Reviewing and making recommendations regarding the investment portfolio.

Projects

• Liaising with the Property Manager to agree/review periodically suitable criteria for projects appraisal and approval
• Having responsibility for the development of an appropriate disbursement policy
• Undertaking financial analyses of projects in DHDL and where necessary, the client/beneficiary entities
• Participating in the decision making process for the approval projects and award of contracts
• Where necessary recommending or initiating audits of beneficiary entities

Human Resources Responsibilities 

• Liaising with the Administrative/HR Manager regarding the recruitment, training and appropriate personal development of staff assigned to the Finance and Accounts Unit
• Participating in interview and selection of staff for the Finance and Accounts Unit
• Ensuring that the Employee Performance Evaluation System is executed
• Agreeing performance targets with individuals directly supervised
• Agreeing performance targets for this position with the Executive Director

Other Responsibilities

• Perform Executive Director’s role when he/she is out of office
• Administrative and Technical Support given to all departments, in association with the Executive Director

• Undertaking such other functions as may be reasonable assigned by the Executive Director or the Board of Directors

PERFORMANCE INDICATORS/STANDARDS

• A high level of professionalism and integrity in keeping with established standards
• Prudent financial management is practiced for the benefit of the organization
• The unit’s objectives are met, within budget and on schedule
• All key deliverables are produced within the agreed timeframes and are of the required standard
• Adequate controls and tracking systems are developed and implemented
• Internal control systems are in place and are effective
• Follow up mechanisms are developed and implemented
• Problems are recognized and corrective action taken timely

AUTHORITIES OF THE JOB

• Final responsibility for financial approval of transactions originating within DHDL
• Commissioning of annual/periodic audits
• Preparation of Budgets and presentation to the Board of Directors, Ministry of Tourism and Ministry of Finance
• Approval of Purchase orders and expenditure for goods and services
• Recommending financial policies and procedures

SPECIAL REQUIREMENTS/WORKING CONDITIONS

• Irregular working hours
• Possible interface with a wide cross section of personalities including the political directorate, public officers, contractors, regulators  and interest groups

MINIMUM EDUCATIONAL REQUIREMENTS AND EXPERIENCE

• Msc. Accounting, MBA (Finance major) and or a Chartered Accountant designation

• At least eight (8) years working experience in finance and accounting environment at a comparable level.
• Experience in financial management
• Knowledge of public sector accounting procedures
• Supervisory and negotiation skills
• Effective oral and written presentation skills
• Analytical and report writing skills
• Ability to develop and assess internal control systems
• Ability to develop and comply with financial, administrative and procurement policies and procedures
• Ability to use computerized accounting/financial management systems including the development of a structured chart of accounts and reporting formats.
• Ability to plan and meet deadlines
• Ability to perform effective under pressure
• Strong human relations skills
• Effective decision making skills
• Innovative think