Financial Controller at IO Furniture

Job Summary

• We need a Chief Financial Officer to lead the company from a financial perspective (financial stewardship, strategy, operational execution and business partnership).
• The Chief Financial Officer will work with the leadership team and take ownership of all company fiscal and regulatory matters and ensure strategy execution, control, performance and efficiency.

Task Complexities
General Business:

• Oversee the smooth and efficient running of the Finance Department
• Ensure compliance with statutory authorities, audit requirements and relevant accounting standard
• Maintain integrity of Accounting system (software), ensuring it remains effective and operational at all times
• Ensure all taxation requirements are complied with at all times by designing and implementing efficient

Tax Management Strategy:

• Establishing and maintaining cordial relationship that will be of immense benefit to the company with bankers/financiers
• Designing and implementing all necessary Policies and Procedures to ensure standardized flow of works and transactions
• Involved in planning and execution of financial goal and being abreast of developments in FX market for ultimate benefit of the company
• Reviewing of Government policy with their respective impact on the business and supporting other departments in moving the business forward

Finance Administration:

• Ensuring monthly reconciliation of all ledgers and sub-ledgers
• Analyzing the business performance/ results, providing feedback to Senior Management
• Tracking and monitoring revenue/cost for accuracy, verifying it against sub ledger report on a monthly basis
• Ensuring that revenue and cost are allocated correctly, taking corrective action where inconsistencies arise
• Ensuring monthly accruals are adjusted to meet demands of the business
• Negotiating competitive rates with insurers and in conjunction with relevant personnel tracking, monitoring as well as managing insurance claims
• Ensuring that debtors are monitored and collections are consistent with set company time frames in conjunction with Directors sourcing and identifying financial providers.
• Collating all relevant information to produce end of year statutory accounts for the company
• Ensuring that end-of-year statutory accounts and report are finalized by specified date and presented to Directors for review
• Managing Petty Cash payments and re-imbursement system
• Ensuring timely stock counting in line with company and audit requirement
• Instituting Internal Control to safe guard the company assets
• Ensuring timely reconciliation of Bank Statement against the General ledger for prompt discovering of errors or misstatement
• Ensuring effective and efficient payroll system in conjunction with HR department
• Verifying on monthly basis the bank charges debited by banks
• Amortizing the prepayments like rent, advertisement and any other advance payments
• Managing the company general ledger i.e. Chart of Accounts

Budgeting/Forecasting & Reporting:

• Coordinating and preparing annual budgets, including operating and capital expenditure budgets, ensuring the accurate preparation / reporting of monthly financial results
• Providing assistance/direction to managers with regards to the preparation of budgets
• In conjunction with the Managing Director, ensure that business cash flow adequately supports company work activities and produces optimal results
• Ensure approved capital expenditure budgets are adhered to at all times
• Ensure any variations to budgets and forecasts are explained in management reports, including any future/potential exposures to the organization
• Preparing “budget reports” on an annual basis for review by Directors
• On a monthly basis, track and review expenditure against set budgets, providing Directors with a “budget inconsistencies report”

Asset Management:

• Ensuring all company assets are monitored, insured and accounted for
• Ensuring company motor vehicles and property are effectively managed
• Ensuring the fixed assets register is managed and maintained with strict adherence to “fixed assets register procedure”
• On a monthly basis ensuring the general ledger is reconciled to the assets register.
• Preparing on monthly basis, the Fixed Assets Movement Schedules
• Ensuring timely capitalization and disposal of Fixed Assets in line with company policy.
• Ensuring accurate depreciation is charged to P & L monthly
• Ensuring proper tagging of Fixed Assets
• Ensuring Tax Acceptance Certificate is obtained from relevant authority for capital allowance purposes where applicable

Regulations & Statutory Compliance:

• Ensuring there is proper documentation and annual reconciliation of gross wages, payroll tax and workers compensation against general ledger
• On an ongoing basis, reviewing company expenditure to ensure compliance with Loan Covenants with banks, reporting violation immediately to the Managing director
• Collecting and collating all necessary documentation in readiness and preparation of company income tax returns
• Ensuring prompt remittance of pension contributions
• Assisting in formulating and implementing policy on Corporate Governance

People Management:

• Providing leadership direction for the Finance team
• Making self-available as coach / mentor to team for capacity building
• Ensuring that relevant information is communicated to the team for effectiveness
• Delegating tasks to the team in line with skill, knowledge and ability and where necessary, identifying skill gaps and training requirements
• Involved in relevant personnel matters including recruitment, termination and counseling
• Completing KPI assessment of direct reports within Company as required from time to time
• Any other tasks that may be assigned by the MD from time to time

Key Job Attributes
Generic:

• Leadership and Motivation
• Analytical and quantitative decision making skill
• Oral and written communication skills
• Problem-solving, creativity
• Ability to Multitask
• Ability to work with a team
• Ability to work independently
• Ability to be proactive and deliver results
• Integrity/Discipline
• Excellent interpersonal skills

Technical:

• Strong financial and accounting background, including understanding of profit and loss, balance sheet and cash flow management and general finance and budgeting.
• Experience with corporate governance.
• Proven negotiation skills.
• Ability to understand new issues quickly and make wise decisions
• Ability to inspire confidence and create trust
• Ability to work under pressure, plan personal workload effectively and delegate
• ACA qualification
• Ability to use Microsoft office package effectively
• Ability to use the Sage financial software

Education & Experience

• First Degree in Accounting, Finance, Economics or a related field.
• ACA or ACCA certification
• Experience with ERP systems; Microsoft Navision experience is a plus
• Minimum of 4 years' related work experience.