Financial Controller at Olam Nigeria Limited

About Business

• Olam Caraway manufactures and markets a range of branded packaged food products to consumers across multiple African markets. Over the last decade the Caraway business has established regional brand and market leadership positions in multiple consumer categories across targeted markets in West Africa. Olam Caraway is present in 6 consumer categories: Tomato Paste, Instant Noodles, Food Ingredients, Biscuits, Confectionery and Beverages.

Key Performance Matrices

• Actively participate in the preparation of the annual budgets, comparison of actual performance against the budget, identifying and analyzing variance devise and monitor the implementation of necessary actions.
• Driving Business performance through analytics on Portfolio management / Category
• Development Reporting of Financials.
• Responsible for successful M&A of new businesses, transfer pricing etc. developing accounting & financial policies, systems controls for new & existing businesses.
• Financial reporting - Timely MIS and Financials ensuring compliance of statutory date lines.
• Legal, Regulatory & Statutory Compliance - ensure compliance with statutory authority and audit requirements
• Smooth operation of the MIS and computerized accounting system and take necessary actions for systems upgrading to cope with the changing requirements.
• Development and setting in place of an effective management accounting function within the organization, in order to provide leadership to organizational improvement initiatives.
• Identify and assess the relevant techniques to be adopted and supervise and guide the management accounting towards implementation.
• Efficient management of the treasury function including projection of future cash flows, arranging adequate funds to meet day to day requirements and ensure that the disbursements are within the approved operational cash flows. This includes liaising with banks, monitoring of daily cash balances and submission of cash flow statements.
• To initiate, review, assess and implement programs to continuously improve the productivity of all processes and systems within the organization and to advise and guide the operational managers in carrying out workflow analysis and other techniques for systems improvement and cost management.
• Prepare and present financial reports, forecasts, and analysis to support decision-making at Board and JV meetings. Offer insights into financial performance, business opportunities, and risk assessments to align with the organization’s goals and ensure seamless communication with stakeholders.

Key competencies

Business Financial Insights - Demonstrates in-depth knowledge on financial/ management accounting principles to be able to accurately reflect the business performance. Develops business appropriate financial insights to be able to provide timely and accurate financial advise in response to business priorities and stakeholder expectations.

• Financial & Management Accounting
• Financial Impact on Strategy Execution
• Business/ Country Economics & Regulations

Controls, Compliance & Assurance - Demonstrates ability to evaluate risks and business issues determining their impact on the management audit, developing and/or modifying audit procedures as required. Also, ensures compliance to legal and secretarial requirements as well as functioning within the norms of statutory audit regulations respective to country/ business.

• Internal Controls
• Compliance Measures
• Measure & Assurance

Reporting & Process Efficiencies - Demonstrates conceptual ability to ideate and implement robust systems and processes suited to business/ country. Also displays accuracy and efficiency in MIS reporting, budgeting, EOY forecasting by ensuring compliance to appropriate systems & processes.

• Budgeting/ EOY Forecasting
• Financial & Management Reporting
• Systems & Process Efficiencies

Business Partnering - Displays a combination of commercial, financial and analytical mindset that provides support central to overall business success. Demonstrates direct accountability –equal mandate with the business to support the rapid growth stepping up to new platforms

• Engaging with the Business
• Financial Planning/ Extracting Efficiencies
• Funds & Currency Management

Requirements

• Chartered accountant, ACCA with experience of 15 years, with minimum experience of 5 years as an FC or CFO managing end to end financials
• Key strengths would be team management, problem solving, decision making and value orientation
• Commercial Acumen to support businesses in their growth plans