Chief Accountant at Domeo Resources International (DRI)

Main Functions

• The Chief Accountant is responsible for managing and overseeing the company’s financial operations, ensuring accurate record-keeping, financial reporting, cost analysis, and compliance with financial regulations.
• This role involves tracking and analyzing costs related to production, sales, and operational activities, while also providing strategic insights to optimize financial performance.
• As a key member of the finance team, the Accountant will contribute to the company’s decision-making processes by providing detailed cost reports, identifying cost-saving opportunities, and ensuring the company’s resources are being used efficiently.

Role Responsibilities
General Accounting Functions:

• Financial Record-Keeping: Accurately prepare and maintain comprehensive financial records, including journals, ledgers, and reconciliations, ensuring they comply with accounting standards.
• Financial Reporting: Prepare monthly, quarterly, and annual financial statements, providing management with clear, insightful reports to support decision-making.
• Transaction Management: Oversee the processing of payments, receipts, and invoices, ensuring accuracy and compliance with company policies.
• Regulatory Compliance: Ensure compliance with tax laws and financial regulations, including VAT, payroll taxes, and corporate tax obligations.
• Audit Support: Assist in the preparation for annual audits by providing necessary documentation and explanations for financial records.

Cost Accounting and Control:

• Cost Tracking and Reporting: Monitor, analyze, and report on costs associated with the company’s production, sales, and operational activities.
• Inventory Costing: Oversee the costing of inventory, ensuring that stock levels are maintained efficiently, and that costs are accurately allocated to products and services.
• Cost Optimization: Identify opportunities for cost savings across operations by conducting detailed cost analysis and proposing actionable strategies to reduce waste and improve efficiency.
• Budgeting and Forecasting: Collaborate with other departments to prepare annual budgets and forecasts, offering detailed cost projections and ensuring adherence to set financial targets.
• Variance Analysis: Regularly review budgeted versus actual costs, identifying significant variances and implementing corrective actions to align actual costs with budget expectations.

Financial Analysis and Strategic Support:

• Data-Driven Insights: Provide the leadership team with actionable financial insights based on cost trends, variances, and market conditions.
• Performance Metrics: Track key performance indicators (KPIs) related to financial performance, including profitability, operational efficiency, and cost ratios.
• Ad-hoc Reporting: Prepare financial analyses on an ad-hoc basis for specific projects or strategic initiatives to help guide operational decisions.
• Cost-Effectiveness: Work with department heads to identify areas where cost reductions can be made without sacrificing quality or operational performance.

Internal Controls and Risk Management:

• Process Improvement: Work to improve internal financial processes and controls, ensuring that financial transactions are recorded accurately and efficiently.
• Risk Assessment: Assess and identify potential risks in financial operations, implementing mitigation strategies to safeguard company assets.
• Compliance Assurance: Ensure that all financial transactions and accounting practices adhere to industry standards and legal requirements.

Tax and Regulatory Compliance:

• Tax Returns: Prepare and file tax returns in a timely and accurate manner, ensuring full compliance with local and national tax regulations.
• Tax Planning: Advise management on potential tax-saving strategies, ensuring that the company remains compliant while minimizing tax liabilities.
• Regulatory Reporting: Stay current with changes in financial regulations and ensure that the company’s accounting practices align with new compliance requirements.

Qualifications and Requirements
Education and Certifications:

• A university Degree in Accounting, Finance, or a related field.
• Professional certification such as ICAN (Institute of Chartered Accountants of Nigeria) or ACCA (Association of Chartered Certified Accountants) is highly preferred.

Experience:

• 3-5 years of experience in accounting, with significant exposure to cost accounting in a manufacturing or services environment.
• Proven track record in financial reporting, cost analysis, and financial forecasting.
• Experience in utilizing accounting software (e.g., QuickBooks, SAP, Microsoft Dynamics) and advanced proficiency in Microsoft Excel.