Chief Financial Officer at Teclab Management Services Limited

Responsible for

• Coordinating all financial aspects of the Group and subsidiary operations as well as implementing appropriate framework and controls for inbound and outbound financial transactions.

Job Purpose

• To provide seamless and effective management of the Group’s financial resources, business forecasting and financial guidance that strengthen the Group’s business operations and fosters superior financial performance and growth.

Key Accountabilities

• Responsible for overall finance and accounting activities of the Group and ensuring that all relevant financial records are maintained appropriately.
• Conducting business and financial strategy, planning, monitoring, management and coordination of the Group’s budgeting and business planning initiatives. Provide management information analyses of financial situations on a periodic and ongoing basis.
• Ensure best financial practices are implemented across the Group, whilst actively encouraging all internal stakeholders to consistently recommend enhancements and solutions as identified.
• Consistently produce accurate reports on Group and subsidiary financial status by collecting, interpreting, and reporting financial data in a timely manner.
• Develop, implement and enforce key finance and accounting processes and procedures (including budgeting, management & financial accounting/reporting) for approval by management and coordinate the preparation of financial statements in accordance with Nigerian accounting practices.
• Ensure the Group and subsidiaries’ finance team(s) operate with modern finance tools and spearhead the management and improvement of policies, systems and processes.
• Develop and implement modern cost-effective accounting systems which will meet the challenges and objectives of the Group.
• Actively support management to ensure efficient operations and growth of the Group as well as manage/control Group operating and capital expenditure within agreed budgets/limits.
• Anchor and coordinate monthly and/or periodic management performance review/reporting packages, as well as concomitant analyses:
  • Monthly, quarterly and annual budgeting and variation reporting to identify areas requiring attention and possible improvement.
  • Support budget objectives by scheduling operating and capital expenditure; analyzing variances; and initiating corrective action.
• Protect the Group’s assets by establishing and monitoring an up-to-date Assets Register for all subsidiaries as well as enforcing compliance with all Internal Control guidelines:
  • Ensure reconciliation of the Assets Register and Ledger with depreciation charge.
  • Ensure availability of capital allowance schedule recording/classification of fixed assets.
• Supervise and maintain output of staff of finance department, through coaching, counseling, disciplining; planning, monitoring, and performance appraisal
• Ensure completeness, accuracy and correctness of all treasury records and reports.
• Manage the bank and treasury processes of the Group and subsidiaries as well as oversee the management of liquidity and prepare reports on liquidity position.
• Implement all billing, payment and payroll processes and ensure robustness of the applicable internal controls covering these processes.
• Function as internal anchor for the capital raising activities of the Group.
• Provide financial analyses and evaluation to support contracting processes of the Group and subsidiaries as well supporting the negotiation of commercial terms with key vendors, contractors and third-party suppliers.
• Cultivate and maintain good relations with all relevant statutory agencies and ensure Group operations total compliance with regulations.
• Anchor periodic meetings with government/regulatory agencies e.g. FIRS, LIRS etc,, as and when required and consistently strive to ensure progressive and positive outcomes (from such meetings) for the Group, whilst promptly following-through with actionable steps - at all times.
• Ensure proper, comprehensive, prompt and timely reports and accounts rendition - as per statutory, regulatory and legal requirements and timelines (including but not limited to taxation, dividends, annual reports/accounts), management of financial communication strategy and liaison with various capital market stakeholders, business press and business analysis communities.
• Prepare and manage a prompt and efficient remittance timetable/plan for all types of taxes and statutory deductions (VAT, Company Income Tax. Withholding Tax. PAYE, pensions, Censors Board, Copyright Commission, Insurance Underwriters etc).
• Liaise with the Group’s and/or subsidiary external auditors, financial and tax consultants as necessary.

Person Specification

• Robust knowledge of internal control systems and implementation of such controls
• Expert level financial analysis skills
• 10 years of experience, with 5+ years of financial management experience
• Graduate degree and/or a recognized Finance/Accounting qualification (i.e. ACA/CPA, CMA or CFA) an MBA with Finance specialism will be an added advantage

Key Experiences:

• Business strategy
• Business partnering
• New business
• Team leadership
• Experience with launching new businesses and changing overall business strategy
• Extensive experience of pricing and negotiation
• Experience in both IFRS and local GAAP accounting standards