Finance and Accounts Officer at Domfas International Leadership Academy (Domfas ILA)

Position Summary

• The DAPS Finance and Accounts Officer is responsible for managing the school's financial operations, accounting processes, budgeting, financial reporting, and compliance activities. The Officer ensures accurate financial record-keeping, efficient management of financial resources, timely processing of transactions, and adherence to established financial policies and procedures.
• The role supports the financial sustainability and operational effectiveness of the school by providing reliable financial information, maintaining strong internal controls, and assisting management in making informed financial decisions. The Finance and Accounts Officer serves as a key custodian of the institution's financial integrity and accountability.

Key Responsibilities

Financial Management and Accounting

• Maintain accurate and up-to-date financial records.
• Process and record all financial transactions in accordance with approved accounting procedures.
• Manage accounts payable and accounts receivable activities.
• Prepare journal entries, ledgers, reconciliations, and financial statements.
• Ensure proper classification and documentation of financial transactions.
• Monitor cash flow and financial activities.
• Support the development and implementation of sound financial management practices.

Budgeting and Financial Planning

• Assist in the preparation of annual budgets and financial plans.
• Monitor budget implementation and expenditure levels.
• Track departmental spending and budget utilization.
• Prepare budget variance reports and analyses.
• Provide financial information to support strategic planning and decision-making.
• Recommend cost-saving and resource optimization initiatives.

Revenue Management and Fee Administration

• Manage student fee records and payment tracking systems.
• Monitor tuition fee collections and outstanding balances.
• Generate invoices, receipts, and payment confirmations.
• Prepare reports on student payments and receivables.
• Coordinate with the Admissions and Student Services team regarding enrollment-related financial matters.
• Support the implementation of effective revenue collection processes.

Payroll and Staff Financial Administration

• Support payroll preparation and salary administration processes.
• Maintain payroll records and staff financial documentation.
• Process staff reimbursements, allowances, and approved benefits.
• Ensure accuracy and confidentiality of payroll information.
• Assist with statutory deductions and remittances.
• Maintain records of employee financial transactions.

Financial Reporting and Analysis

• Prepare weekly, monthly, termly, and annual financial reports.
• Generate income and expenditure statements.
• Prepare bank reconciliation statements.
• Analyze financial performance and identify trends.
• Provide management with timely and accurate financial information.
• Support financial forecasting and planning activities.

Compliance, Audit, and Internal Controls

• Ensure compliance with financial policies, accounting standards, and regulatory requirements.
• Maintain effective internal control systems.
• Prepare documentation required for internal and external audits.
• Support audit processes and implementation of audit recommendations.
• Ensure compliance with applicable tax and statutory obligations.
• Maintain proper financial documentation and audit trails.

Procurement and Asset Management Support

• Support procurement processes and financial review of purchases.
• Verify purchase requests, invoices, and payment documentation.
• Maintain records of school assets and equipment.
• Monitor inventory records and expenditure on supplies.
• Assist in financial evaluation of vendor contracts and service agreements.
• Support asset verification and stock management exercises.

Banking and Cash Management

• Manage banking transactions and account reconciliations.
• Prepare bank deposits and monitor account activities.
• Maintain petty cash records and controls.
• Ensure proper cash handling and security procedures.
• Monitor cash balances and liquidity requirements.
• Coordinate with financial institutions as required.

Data Management and Record Keeping

• Maintain organized financial records and filing systems.
• Ensure secure storage and retrieval of financial information.
• Manage accounting databases and financial management systems.
• Prepare financial data for management reporting and regulatory compliance.
• Maintain confidentiality of financial information.

Administrative and Institutional Support

• Support school events, projects, and operational activities requiring financial oversight.
• Collaborate with administrative and academic departments on budget-related matters.
• Participate in management meetings and planning sessions when required.
• Provide financial guidance and support to departmental managers.
• Perform additional duties assigned by school leadership.

Qualifications and Experience

Education

Applicants must possess any of the following qualifications:

• Bachelor's Degree in Accounting, Finance, Banking and Finance, Economics, Business Administration, Financial Management, or a related field from a recognized institution.
• Higher National Diploma (HND) in Accounting, Finance, Banking and Finance, or a related discipline with relevant professional experience.
• Master's Degree in Accounting, Finance, Business Administration (MBA), Financial Management, or a related field is an added advantage.

Professional Certifications

Professional certifications are highly desirable, including:

• Chartered Accountant (ACA)
• Association of Chartered Certified Accountants (ACCA)
• Certified National Accountant (CNA)
• Institute of Chartered Accountants of Nigeria (ICAN)
• Association of Accounting Technicians (AAT)
• Chartered Institute of Taxation of Nigeria (CITN)
• Relevant financial management certifications

Experience

• Minimum of 3–5 years experience in accounting, finance, bookkeeping, auditing, or financial administration.
• Experience working in an educational institution, school, training center, NGO, or similar organization is highly desirable.
• Experience with budgeting, payroll administration, financial reporting, and regulatory compliance.
• Experience using accounting software and financial management systems.
• Demonstrated ability to manage financial records accurately and efficiently.

Required Skills and CompetenciesFinancial Management

• Strong knowledge of accounting principles and financial management practices.
• Ability to prepare and interpret financial statements and reports.
• Knowledge of budgeting, forecasting, and financial analysis.

Accounting and Compliance

• Understanding of accounting standards and regulatory requirements.
• Knowledge of taxation, payroll administration, and statutory remittances.
• Ability to maintain effective internal controls and audit readiness.

Technology

• Proficiency in Microsoft Office Suite, especially Microsoft Excel.
• Experience using accounting software such as QuickBooks, Sage, Tally, Zoho Books, or similar systems.
• Ability to manage financial databases and generate reports.

Communication

• Excellent written and verbal communication skills.
• Ability to present financial information clearly and accurately.
• Strong interpersonal and stakeholder management skills.

Organization and Administration

• Strong organizational and record-keeping skills.
• High attention to detail and accuracy.
• Ability to manage multiple financial responsibilities and deadlines.

Personal Attributes

• High level of integrity, honesty, and accountability.
• Strong analytical and problem-solving abilities.
• Professionalism and confidentiality.
• Detail-oriented and highly organized.
• Proactive and results-driven mindset.
• Ability to work independently and collaboratively.
• Commitment to excellence and continuous improvement.