Financial Manager at Olaolu Olabimtan and Company

Report to: Managing Director

Job Summary

• The Finance Manager is a critical role to the success of client’s value proposition delivery being responsible for all financial activities.
• The Finance Manager is responsible for performing and supervising daily, weekly, monthly, quarterly and yearly accounting and financial activities relating directly and indirectly with cash flow, inventory, compliance, budgeting, cost accounting, treasury, and financial reporting.

Key Responsibilities
Financial & Management Reporting:

• Develop, implement and supervise standard operating procedure (SOP) for all processes within the department including an accounting manual.
• Ensuring all accounting and financial records are kept according to established IFRS standards using an automation accounting system.
• Monthly reporting of financial ratios including but not limited to AR turnover, Inventory turnover, Accounts Payable Turnover and Inventory turnover in Days.
• Monthly reporting of financial statements including but not limited to Cash flow statement, Balance sheet and P&L statement to the CEO.

Treasury Management:

• Managing excess project cash flow to generate returns through yielding short-term investment portfolios.
• Diversifying cash investments to mitigate against risk of forex exchange loss due to unforeseen economic or financial activities.
• Develop financial/investment profiles required to secure funds required to finance investment for our company’s expansion/scaling projects whether equity or credit facility.

Performance Management:

• Product and Service costing including all associated cost to determine final selling price with a competitive profit margin.
• Quarterly product price review to establish gain/loss to operational, economical, and financial variations including but not limited to forex exchange fluctuation, logistic cost variance, supplier price changes & competitive landscape.
• Analyze cost behavior to establish and report break-even point, desired profit point and minimum monthly revenue threshold.

Supply Chain Management:

• Provide direction and supervision to supply chain management.

Accounts Receivable & Payables:

• Ensure all receivables are redeemed within 30 days of due date with redeemable penalties for defaulters.
• Promote a system that guarantees accounts payable fulfillment from accounts receivables and not working capital by matching APs with ARs.

Compliance:

• Adhere timely to governance compliance requirements including but not limited to PAYEE, Annual Returns, Pension, VAT and Company Tax.

Budgeting:

• Forecasting sales and departmental expenditure within the last quarter of each financial year against the new financial year planning, based on historical data and the strategic goals of our company.
• Approving and controlling project budget to generate increased cost savings and in turn higher profit margins.
• Implement innovation systems/processes aimed at driving down cost and increasing efficiency across all cost centers within the organization.

Revenue Management:

• Evaluate, monitor and report on established revenue streams for our company by identifying contribution per unit, key revenue contributors as well as declining revenue contributors, while initiating measures to enhance and unclog blocked revenue streams.
• Monthly analyzing our company’s business according to customer segment profile to determine revenue, cost, profitability, work in process, inventory, accounts receivables and accounts payables.

Profitability Analysis:

• Track profitability per revenue stream.
• Product/service pricing and control to guarantee minimum established profit margins.
• Adapting to economic, financial and operational activities by responding strategically to achieve profit target.

Educational/Professional Qualification

• Bachelor's Degree in accounting, quantity surveying or economics.
• A Master’s degree would be an added advantage.
• ACCA or ACA.

Experience:

• 5 - 7 year's  experience in finance, financial accounting and Auditing.
• Experience with operations process improvement and inventory management.

Skills/Competencies:

• Fundamental understanding of financial accounting and strategic management.
• Ability to extract cash from the value chain using innovative techniques and tactics.
• Must be able to manage multiple tasks simultaneously and work as a team with other people.
• Ability to coordinate both commercial and technical supplier representatives with technical support team for conflict/issues resolution.
• Proficiency with Microsoft office, AdvancePro inventory management and QuickBooks Accounting Software.
• Ability to generate timely, concise, and effective business correspondence both oral and written.
• Strong analytical skills including agility to respond to evolving financial and economic landscape.
• Ability to interact with employees, customers and colleagues in a professional and courteous manner.
• Attention to detail.
• General understanding of the AV and automation industry.
• Advanced time management and analytical skills
• Excellent client-facing communication skills.

Why You Should Join This Team

• The client understands that success depends on providing its people with an environment in which they can thrive. And that’s just what it’s doing. It’s an approach that makes the people a priority.
• They aim to make working an energising and fulfilling experience. They want people to be positive and enthusiastic about what they are doing, with a clear sense of purpose and pride in their individual contribution to the company’s success.

Specifically, the value proposition includes:

• Being part of a team to spearhead the development and integration of an automation technology that is foremost in Africa.
• Other Benefits, Health Insurance, Phone Communication Allowance, Frequent Industry and General Trainings, Certification Exam Fee Subsidy.
• Company also encourages and supports a healthy work-life balance, which is essential to the continued well-being of all its employees worldwide.