Chief Financial Officer (CFO) at Oceanic Health Management Limited

Job Duties/ Responsibilities/ Accountabilities:

• Oversee the smooth running of the department.
• Ensure proper job description
• Re-organization of job flow.
• Ensure continuity of process.
• Supervising the performance of each unit
• Liquidity monitoring & cash management.
• Ensure adequate cash balance to meet obligations as at when due
• Cross check the deposits in bank.
• Ensure Account Receivables are collected as at when due
• Proper structuring of payment
• Management of investment portfolio.
• Ensure High Investment yield
• Invest in near cash investment to forestall illiquidity
• Ensure safety of funds
• Prepare performance report to board
• Advise on other areas of Investment.

Budget & budgetary controls

• Prepare Annual Estimate for the company
• Circulate approved budget to concerned staff
• Ensure Budget discipline
• Prepare variance analysis report
• Investigate adverse variance on budget
• Budget variance report on Income & Expenditure Credit control.
• Review Circularize debtors.
• Follow up on debtor.
• Ensure up to date debtors’ position
• Analyze debtor according to age
• Make Recommendation to Management on bad and doubtful debt
• Debtors Performance

Monitoring & Review

• Monitor and review of all Postings before approval on ERP
• Final review of reconciliation of all accounts on Monthly basis
• Review of Claims and capitation before payment
• Reviewing Ledger and journal posting in ERP

Tax Administration

• Ensure compliance with relevant tax law (State & Federal)
• Ensure PAYE, WHT, VAT are remitted monthly
• Ensure PAYE Tax filling is done annually
• Ensure the payment of CIT & EDU Tax by June each year
• Ensure Adequate provisions are made to cover tax liabilities
• Obtain update on tax legislation.
• Engage the tax authority for annual tax audit.
• Engage tax consultant on difficult tax issue

Statutory Audit

• Engage the External Auditor for annual audit.
• Submit the annual Financial to the External auditor
• Provide All relevant Schedule to the auditor
• Ensure audit is carried out within the 1st three month of preceding year.
• Review Management Letters and Provide Response to issues raised

Daily Payment

• Ensure all approved payment are paid
• Ensure that reconciliation of all payment are carried out on daily basis

Statutory Returns

• Ensure the remittance of 1% levy to NHIS by June each year
• Ensure the submission of audited financial to NHIS by June each year
• Ensure the filling of CAC 10a by June each year
• Ensure the submission of evidence of pension remittances by January of the year preceding
• Ensure the payment of NSITF by January of the year preceding
• Ensure the payment of ITF by January of the year preceding

Management Reporting

• Preparation of account in line with regulatory framework and compliance with the statement of accounting standard
• Aligning with the chart of account
• Reviewing of journals.
• Reviewing ledger posting
• Reviewing trial balance.
• Review all relevant schedule
• Provide accurate and timely report to management

Business Ratios Analysis

• Generate Business Intelligence ratio to assist management.
• Advising management on financial matters.
• Providing timely advice on all financial matters
• Assist other line managers in their financial obligation
• Support the HR in remuneration fixing and review
• Be the financial spokesman of the organization

Business Performance Reporting

• Weekly Strategic Meeting
• Credit risk analysis
• Ad hoc reports

REQUIREMENTS

• Minimum of Bsc/HND in Accounting.  
• Preferably with at least 7 to 10 years’ experience in HMO.
• Active member of relevant professional bodies.

Salary range: Negotiable.