JOB TITLE:                                   Chief Financial Officer

DEPARTMENT:                              Finance

REPORTING TO:                           Chief Executive Officer (CEO)

SCOPE OF JOB 

• Direct the preparation of current financial reports and summaries, and create forecasts predicting future growth.
• To protect the company's financial resources, and be responsible for planning, implementing, managing, and controlling all financial-related activities of the company.
• To analyse and monitor the company’s financial position, and issue periodic financial and operating reports, as required by the CEO and the Company’s Directors.
• To  analyse  financial  systems,  information  and  monitor   all  costs  and  other financial  data and to propose policies for improving the financial performance  of the company.
• To provide oversight of the accounting control functions.
• To ensure financial resources are utilised in the most effective manner to provide adequate rewards for risk, and in alignment with strategic goals.

DUTIES

Planning and Control

• Monitor progress of the Company’s development projects to ensure their profitability, especially with regard to budget overruns and Cost-to-Complete (CTC) studies.
• Develop and implement policies and procedures to safeguard the assets of the company.
• Supervise and maintain adequate insurance on the Company's assets and liabilities.
• Administration of approved accounting procedures.
• Ensure cash flow is appropriate for the organization’s operations.
• Maintain the automated General Ledger and other client & homeowner information systems on the company's in-house computer systems.
• Co-ordinate the formulation of the annual budget and monitor performance versus budget on a monthly basis.
• Develop and implement adequate procedures and systems to maintain proper records, sound accounting, audit controls and timely accurate management of information.
• Produce accurate, insightful and timely financial statements in accordance with accounting standards and regulations.
• Probe internal systems for weaknesses/flaws and develop controls particularly with regard to inventory management and material/labour costs.
• Analyse and monitor all costs and financial data in an effort to propose policies for improving the economic performance of the company.
• Oversee management of the company's investable funds to ensure maximum returns and availability.
• Plan and strategize in conjunction with senior management to ensure that the financial goals are achieved.
• Have a full comprehension of the Company’s financial data and its impact on the strategic goals and communicate same to the rest of the organisation. 

Accounting and Administration

• Prepare monthly financial statements including balance sheets, income statements, cash flows and relevant notes to the accounts.
• Ensure that payments are made to suppliers’ accounts on a timely basis.
• Prepare Annual Financial statements in accordance with International Accounting Standards as per the ICAJ and Company’s Act requirements.
• Supervise the preparation of year-end schedules and other particulars stipulated by the Auditors of the company and the major shareholders' consolidated requirements.
• Ensure the business has the money it needs to manage its day-to-day business obligations and enough cash available to meet future liabilities.
• Develop and provide analysis of budgets, financial reports and financial trends in order to assist senior management in performing their duties.
• Develop the required analysis needed to determine performance of the various construction projects of the Company.

Financial Management

• Studies long-range economic trends and project their impact on the Company, including borrowing rates and market liquidity.
• Negotiate long term and project related loans and working capital requirements with the Company’s bankers and/or other financial institutions.

 Commercial Project Management

• Collaborate with the Project Managers and CEO to prepare project budgets for the various contracts of the Company.
• Prepare and submit revenue invoices of the Company in collaboration with the Project Managers and CEO.
• Prepare the necessary commercial and/or financial analysis required to discuss and negotiate revenues and amounts claimable on various contracting projects
• Oversee the sales collection process for the Company’s development projects including maintaining a current list of receivables and cash receipts.
• Preparation of analysis of the payables of the Company.

 Cost Management

• Develop scenario analysis and costs to complete analysis of the various projects.
• Prepare and maintain profit and loss analysis of the various projects of the Company, including analysis showing projected revenues, costs and margins.
• Discuss (with Project Managers) and implement cost management strategies to reduce and /or contain construction and equipment costs.
• Develop and implement strict internal controls over the use of the Company’s assets.

 Human Resource Development

• Ensure an effective Performance Management and Appraisal system is maintained within the department.
• Strict adherence to the guidelines in the Labour Relations and Industrial Dispute Act.
• Facilitate training and development activity, which will enable the members of your team to achieve quality standards.
• Continuous training of staff to ensure the development of a cadre of skilled, highly motivated and productive employees whose performance is formally appraised annually.
• Evaluate and oversee the Finance Department for continual improvement of efficiency and effectiveness as well as encourage personal and professional development.
• Participate in interviewing and selection of staff for the Finance Department.

 Standards:

• Mitigate against losses (including fraud), or due to negligence/inadequate systems and procedures.
• Mitigate against prosecutions, penalties or additional cost imposed for non-compliance with government regulations as outlined in the Companies Income Tax Act, General Consumption Tax Act, National Insurance Act and any other applicable enactment of the state.
• Generation of timely and accurate information to conduct the affairs of the company.
• Compliance with procedures and controls required by the company's auditors.
•  Adherence to modern and sound accounting conventions in maintaining records which should be updated and balanced at specified intervals.

JOB REQUIREMENTS

Qualification & Experience

• ACCA/CA/CPA or equivalent designation
• Minimum of 10 years’ Financial Management experience in a comparable accounting environment at the management level
• Exposure to International Financial Reporting Standards (IFRS)
• Strong organizational and leadership skills
• Excellent written and verbal skills
• Strong analytical, forecasting and modeling skills, as well as strong interpersonal skills, professional judgment in dealing with internal and external stakeholders
• Management Practices
• Audit Procedures
• Taxation
• Computer Applications
• Excellent management and supervisory skills
• Proficient in database and accounting computer application systems