Financial and Cost Accounting Manager at Lagos Business School

PURPOSE OF POSITION: 

The role oversees financial reporting, cost management, and compliance with financial regulations. This role is critical in budgeting, financial planning, and cost control, providing insights that drive business decisions.

ESSENTIAL DUTIES/KEY JOB ROLES AND RESPONSIBILITIES include but are not limited to the following:

• Oversee the preparation of financial statements and reports in compliance with accounting standards.
• Develop and maintain cost accounting systems to track expenses and optimise financial performance.
• Ensure accurate and timely recording of financial transactions.
• Conduct variance analysis to identify cost-saving opportunities and efficiency improvements.
• Prepare budgets, forecasts, and financial projections to support strategic decision-making.
• Implement internal controls and ensure compliance with regulatory and financial policies.
• Monitor and analyse cost structures to recommend improvements in financial efficiency.
• Work closely with auditors to facilitate external and internal audits.
• Provide financial insights and recommendations to senior management.
• Supervise and mentor finance team members, ensuring accuracy and efficiency in financial operations.

KEY PERFORMANCE INDICATORS (KPIS)

• Accuracy and timeliness of financial reporting.
• Compliance with accounting standards and financial regulations.
• Effectiveness of cost control and financial planning strategies.
• Efficiency in budget preparation and financial forecasting.
• Reduction in financial discrepancies and errors.
• Implementation and adherence to internal financial controls.
• Effective collaboration with auditors and regulatory authorities.
• Development and training of finance team members.

COMPETENCIES REQUIRED. To be successful in this role, the role holder should possess the following:

• Financial Analysis & Reporting: Strong ability to analyse financial data and generate reports.
• Cost Management & Optimisation: Expertise in cost accounting and financial efficiency strategies.
• Regulatory Compliance: Knowledge of financial laws, regulations, and standards.
• Budgeting & Forecasting: Ability to develop and manage budgets effectively.
• Attention to Detail: High accuracy in financial reporting and analysis.
• Problem-solving skills: Ability to identify financial challenges and implement solutions.
• IT & Financial Software Proficiency: Proficiency in MS Office, accounting software, and ERP systems.
• Leadership & People Management: Strong skills in team supervision and development.
• Strategic Thinking: Ability to align financial planning with business goals.
• Communication & Interpersonal Skills: Ability to communicate financial insights clearly to stakeholders.

EDUCATION

• Bachelor’s degree in Accounting, Finance, or a related discipline from a reputable institution.
• Professional certification (e.g., ICAN, ACCA, CPA) is required.

EXPERIENCE        

• Minimum of five years of experience in financial and cost accounting, with at least two years in a managerial role.

SALARY GRADE

Managerial