Finance Business Partner – Technical at Promasidor

Job Objectives

• The primary purpose of the Finance Business Partner for Technical functions is to provide strategic financial guidance, analysis, and support to the Production, Engineering, Workshop, and Quality Assurance teams. This role ensures that financial considerations are integrated into the decision-making processes, driving operational efficiency, cost management, and overall business performance. This shall be executed through the following functional areas.

Key responsibilities

Management Accounting Functions:

• Provide leadership and quality supervision for the Business support team including Technical, Supply Chain and Commercial.
• Act as a financial advisor to business unit leaders, providing insights, hindsight and recommendations to drive cost and efficiency performance across the business
• Collaborate with cross-functional teams to provide financial support for key business initiatives and projects.
• Coordinating and preparation of the company’s operational master budget annually and involve in standard setting across the company.
• Coordinate and facilitate the preparation of the company’s quarterly and mid-year forecast and financial projections
• Ensure accurate and successful uploading of budget figures from excel model into the company’s ERP
• Ensure effective implementation of budgetary control and effective monitoring
• Undertake detailed analysis of variances, underscore the root cause and recommend necessary action points for cost improvement
• Liaising with budget holders to ensure all keep to the budget rules and agreed cost
• Ensure integrity of accounting entries in the company’s records through understanding of budget mapping
• Undertake detailed review of the P&L and Balance Sheet accounts and bring to the management noted areas of concern for corrective measures
• Preparation of ad hoc report for management use, including building business cases, scenarios planning, profit and cost simulations and sensitivity analysis for informed decision making. This is to support business cases for new product launches, market expansions, and other growth initiatives and perform post implementation appraisals
• Monitor adherence to the financial and accounting control procedures
• Preparation of management reports including product gross margin analysis
• Lead a team of FP&A professionals, providing mentorship and development opportunities.
• Prepare detailed financial reports and presentations for executive leadership and board meetings.
• Industry Analysis of related and competitors published accounts.

Accruals/provisions:

• Update monthly provisions and accruals in local books.
• Update monthly provisions in management reports.
• Ensure adequate provisions to avoid overstatement of our profit.

Analyze OPEX

• Deliver monthly OPEX analysis and reporting
• Advise on areas of OPEX improvement
• Drive cost saving initiatives

Business Support Functions:

• Sales/Revenue Management
• Prepare, Analyze and Report Monthly Revenue and Naked Margin
• Ensure Price compliance (Approved vs Actual price).
• Perform profitability appraisal – brands, customers, etc.
• Validate approval of all sales discounts and ensure all sales promotions are duly applied as approved.

Marketing:

• Assist in ensuring the accuracy and completeness of Marketing accruals and provisions and efficient and effective information on marketing spend.
• Analyzing Marketing cost (ATL/BTL) by brand.
• Advise Marketing team on marketing/Finance related issues.
• Monitor and approve marketing spend initiatives and evaluate post deployment appraisals
• Support management team and the Heads of Department with data-driven analysis
• Implement a business intelligence tool and dashboard reports.

Supply Chain:

• Develop and maintain financial models and forecasts for the supply chain function
• Monitor and analyze supply chain performance metrics (e.g., inventory turnover, procurement costs, logistics expenses)
• Provide financial insights and recommendations to support strategic decision- making
• Identify cost-saving opportunities and implement process improvements within the supply chain
• Analyze and control supply chain costs, including procurement, transportation, warehousing, and inventory holding costs.
• Identify cost reduction opportunities and implement cost-saving measures.
• Identify and assess supply chain risks (e.g., supply disruptions, price fluctuations,
• currency exchange risks)
• Participate in supply chain process improvement initiatives
• Implement best practices and technologies to enhance supply chain efficiency

Technical:

• Develop and maintain financial models and forecasts for the technical department
• Conduct cost-benefit analysis for technical projects and initiatives
• Monitor and analyze operational performance metrics (e.g., production costs, labor efficiency, quality costs)
• Identify cost-saving opportunities and implement process improvements within the technical department
• Provide financial insights and recommendations to support strategic decision- making
• Identify cost reduction opportunities and implement cost-saving measures
• Develop project budgets and track project performance against financial targets
• Develop mitigation strategies to minimize the impact of technical risks
• Leverage financial analysis to identify opportunities for process optimization

Project Management Office:

• Support PMO project appraisals, providing complete and accurate project and investment appraisals for timely delivery of required output.
• Advise Project managers on PMO/Finance related issues.
• Building business cases with proper calculation of NPV, IRR and payback periods for an informed decision making

Job Requirements

• HND/B.Sc in Accounting,
• Professional Qualification: ACA or ACCA. Computer literacy and advance user of excel is a must

Experience

• Minimum of 8 years of working experience in a structured organization

Knowledge & skills

• Sound Knowledge of the Nigerian Accounting Standard & IFRS
• Advance user of excel
• Advance analytical skills
• Advance financial modelling

Personal Attributes

• Good Communication skill
• Interpersonal Relationship
• Team Building Spirit
• Ability to work under pressure
• Ability to impact knowledge on subordinates
• Ability to use Excel, Word and PowerPoint applications
• Attention for details