Financial Control Specialist at Ikeja Electricity Distribution Company

Key Opportunities & Contributions;

• Financial Strategy & Planning: Shaping longterm financial goals, identifying investment opportunities (e.g., grid upgrades), and supporting major capital expenditure decisions.

Risk Management & Asset

• Protection: Implementing internal controls to safeguard significant assets, managing cash flow, and ensuring robust systems against fraud and mismanagement.
• Regulatory Compliance & Reporting: Acting as a key liaison with energy regulators and tax authorities, ensuring adherence to strict industry standards, and managing complex financial reporting for external bodies.
• Performance Analysis & Cost Control: Deep diving into operational costs, analyzing profitability of different service areas, and finding efficiencies in large-scale operations.
• Audit & Assurance: Managing internal and external audits, implementing audit recommendations, and ensuring financial data integrity. Strategic Decision Support: Providing insights to senior management on financial performance, market realities, and potential financial impacts of strategic initiatives.
• The Financial Control Specialist will strengthen the organization’s financial integrity by evaluating, monitoring, and improving internal control systems within the finance function.
• The role ensures that financial operations comply with established policies, regulatory standards, and investor requirements, while also driving efficiency and mitigating risks across key finance processes.

Your Role Accountabilities are:

• Evaluate the adequacy and effectiveness of internal controls around finance processes such as general accounting, treasury, fixed assets, payroll, revenue, and procurement.
• Review journal entries, payment vouchers, reconciliations, and other financial documents to confirm compliance with policies and approval limits.
• Verify that financial transactions are accurately recorded, supported by valid documentation, and in line with IFRS and company accounting policies.
• Conduct periodic reviews of bank reconciliations, cash advances, and expense retirements to ensure timely resolution of discrepancies.
• Identify financial control weaknesses and propose pragmatic recommendations to address them.
• Support the development, update, and communication of Standard Operating
• Procedures (SOPs) for finance-related activities.
• Monitor compliance with regulatory requirements from NERC, FIRS, and other relevant authorities.
• Prepare periodic internal control reports on finance activities, highlighting exceptions, risks, and recommendations.
• Track status of control remediation and report progress to management.
• Review all activities on treasury operations- bank reconciliations, FX reconciliations, investment activities, cash flow forecasts, and fund utilization reports.

Skills & Competencies

• The role affords you to develop technical and behavioral competencies, that is, skills, knowledge, and behaviors required to successfully perform in the role and contribute to the organization's goals.

Technical Competencies:

• Proficiency in financial analysis, internal controls, and financial risk management.
• Excellent analytical, problem-solving, and communication skills.
• Ability to work independently and collaboratively.
• Experience with budgeting, forecasting, and financial statement preparation.
• Proficiency in Microsoft Excel and data analysis tools.
• Ability to work independently and collaboratively with cross-functional teams

Behavioral Competencies:

• Customer Centricity: Demonstrates diligence and responsiveness in financial control activities to ensure accurate, transparent, and timely financial information that supports internal and external stakeholder confidence.
• Risk Management: Proactively identifies financial control gaps, compliance risks, and regulatory exposures, and applies strong judgement to mitigate risks in line with IFRS, company policies, and regulatory requirements.
• People Leadership: Provides guidance and support to finance teams and stakeholders on control standards, SOPs, and compliance expectations, fostering accountability and adherence to best practices.
• Entrepreneurship: Drives value-focused control improvements by recommending practical, efficient solutions that strengthen controls,
• optimize processes, and support sustainable financial performance.
• Organizational Learning: Continuously updates knowledge of financial regulations, internal control frameworks, and audit requirements, applying insights to improve financial governance and control effectiveness.
• Change Management: Supports and enables improvements in financial processes, including automation and control enhancements, ensuring smooth adoption of new controls, systems, and regulatory changes.

Minimum Requirement

• B.Sc. / HND in Accounting, Finance, or related field.
• Professional certification: ACA, ACCA, CFA or CIA (required).
• Minimum of 5–8 years relevant experience in internal control, audit, or financial management, preferably within the power or utilities sector.
• Good knowledge of IFRS, internal control frameworks (COSO), and risk management principles.
• Familiarity with NERC regulations, and ERP platforms such as SAP, Oracle, or Microsoft