The Chief Financial Officer (CFO) will prepare, develop and analyse key financial information to ensure that an organization’s management makes well-informed decisions to ensure future stability, growth and profitability.
He will establish financial policies and management information systems and maintain accurate and complete financial records.
He will also provide a high quality support service by liaising with management colleagues on all aspects of finance. The role combines accounting skills with business management skills
- Prepare periodic financial statements, including profit and loss accounts, budgets, cash flows, variance analysis and commentaries;
- Provide a support service by working with all departments and the management team to help make financial decisions;
- Review the financial data and information, update it, to identify inconsistencies and take remedial actions and to provide assistance to direct the operation of financial activities;
- Ensure timely reconciliation of all accounts, to verify its accuracy by tracking and monitoring the financial records, etc.;
- Monitor the debtors and ensure that collections are consistent within the given time limit;
- Prepare accurate monthly and yearly reports, to provide assistance in directing the coordination and preparation of annual budgets, and to ensure that the approved budget has been adhered to, to communicate the variations in budget to the management, and communicate inconsistencies in the budget;
- Ensure spending is kept in line with the budget;
- Inform key strategic decisions and formulate business strategies;
- Advise on the financial implications and consequences of business decisions;
- Analyze financial performance and so contributing to medium and long term business planning / forecasts;
- Negotiate on major projects, loans and grants;
- Offer professional judgement on financial matters and advise on ways of improving business performance;
- Interpret and communicate financial data to non-financial managers;
- Liaison with other function managers to put the finances and accounts in context;
- Monitor and evaluate financial information systems and suggest improvements where needed;
- Implement corporate governance procedures, risk management and internal controls;
- Delegate the tasks to the junior staff persons, to train and mentor them by identifying the skills and training gaps; to be involved in communicating the staffing needs, hiring, and terminating the staff members whenever there is a requirement;
- Collate all the relevant financial information like expenses, liabilities, revenues, assets, etc. and documentation that would ensure readiness and fast execution of the relevant financial activities;
- Recommend potential business acquisition proposals and assists the organization to make intelligent business and financial related decisions;
- Manage the day to day accounting activities by ensuring adherence to the organizational rules and regulations and statutory compliance;
- Coordinate with the technological department to ensure that a proper accounting system is selected by him that will help in delivering sound financial reports;
- Responsible for maintaining excellent relationship with the internal employees as well as with the insurance organizations, banks, audit and financial firms etc.;
- Develop and implement processes related to document control and management;
- Cash and treasury management;
- Manage all company taxes ensuring timely and accurate filing with tax authorities;
- Coordination of audits with external and internal auditors; follow-up and clearing of management letters
- All IT related activities ensuring at any time full operations.
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