Finance Manager at WTS Energy

JOB SUMMARY:

The Finance Manager will report directly to the MD. He/She will manage and develop the Finance & Accounts Department following the company’s vision and objectives, delivering excellent services to clients, suppliers, management, and shareholders. He/She will be in charge of the company’s budget preparation and update, bookkeeping, and maintenance of the general ledger and related accounting practices, including payables, receivables, inventories, fixed assets, taxes, and payroll.

Primary Responsibilities:

• Drive the company’s financial strategy and provide timely information for decision-making processes
• Adopt the company’s vision, inspire, and lead own departmental vision to achieve desired outcomes.
• Plan, develop, and execute strategies for the department that supports and enables the achievement of overall Company objectives.
• Set and achieve short-term and long-term direction for the department’s objectives and KPIs by communicating it across team members, giving continuous feedback and support where needed.
• Organize, delegate, and follow up assertively on departmental tasks.
• Develop and motivate team members by molding, training, and coaching them into star performers and cooperative teams.
• Build strong relationships and effectively communicate with management, peers, and star Continuous improve the department’s processes and quality to respect the company’s value of Excellence.
• Control data integrity on all the company’s systems, forms, and reports submitted by Finances and Accounting team members.

Budgeting and Reporting

• Coordinate and direct the timely preparation of the budget and financial forecasts, reporting any variances monthly.
• Monitor all company business units’ actual expenses versus budget and take corrective action timely and accordingly.
• Prepare all accounting and financial reports.
• Prepare monthly and annual financial statements and budget variation analysis report to advise management on financial matters monthly.
• Identifying financial performance trends and financial risk, and making recommendations promptly.
• Providing financial models and making financial forecasts.
• Present reports to senior executives, stakeholders, and board members.

General Ledger and Payroll

• Supervise, examine, and analyze daily accounting records, financial statements, or other financial reports to assess accuracy, completeness, and conformance to internal and external standards.
• Ensure a proper monthly closing process and reconciliation of general ledger accounts to create the final trial balance.
• Ensure timely costing of imported items, set control of all inventory items, and re-order limits.
• Oversee payroll preparation and disbursement, payments, and all needed documentation.

Control

• Review, investigate, and correct errors and inconsistencies in financial entries, documents, and reports.
• Closely maintain and monitor the fixed assets system.
• Enhance and implement cost reduction initiatives.
• Ensure the finance and accounting teams maintain files and documentation, systematically and accurately, in accordance with the filing policies and procedures.
• Oversee the monthly physical inventory and the adjustment of discrepancies and variances.
• Control warehouse and inventory management.
• Oversee the monthly reconciliation of bank accounts.

Receivables

• Oversee the extension of credit to customers.
• Forecast and allocate the monthly collection target.
• Oversee and revise the achieved collection target and take corrective actions if needed.
• Assume responsibility for critical collection problems.
• Deal with doubtful clients appropriately and promptly.
• Maintain a healthy Daily Sales Outstanding (DSO) and Collection Efficiency Index (CEl) in line with management’s recommendations.

Payables

• Prioritize monthly payments according to the company’s financial capacity by respecting the company’s solvency reputation
• Control the accuracy and compliance of due payments.

Treasury and Cash Management

• Forecast weekly and monthly cash flow positions to meet ongoing operational and capital investment requirements.
• Maintain banking relationships.
• Arrange for equity and debt financing
• Oversee petty cash management.

Taxation

• Manage and control the preparation and payment of governmental taxes.
• Coordinate with external auditors to ensure the accuracy of reports and timely delivery.
• Share the taxation report with the MD/CEO.
• Arrange documents, statements, and audit requirements for the annual financial review and audits.

Qualifications/Skills Required:

• Master’s degree in accounting, Finance or equivalent Relevant professional certification up to Fellow level e.g. Fellow of the Institute of Chartered Accountants (FCA), Fellow of Chartered Certified Accountants (FCCA) etc.
• 12 – 15 years proven experience in Finance Management in the Oil & Gas industry