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  • Posted: Aug 9, 2022
    Deadline: Not specified
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    'CcHUB is Nigeria’s first open living lab and pre-incubation space designed to be a multi-functional, multi-purpose space where work to catalyze creative social tech ventures take place. The HUB is a place for technologists, social entrepreneurs, government, tech companies, impact investors and hackers in and around Lagos to co-create new solutions to ...
    Read more about this company

     

    Group Head of Finance

    Job Description

    • The Group Head of Finance (GHOF) is accountable for the company’s financial and risk management operations.
    • This includes developing a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve company’s assets and report accurate financial results.
    • The GHOF will provide leadership and coordination in the company’s business planning, accounting, financial analysis, financial reporting, and budgeting efforts. S/he will develop and institutionalize the Finance Department.

    Responsibilities
    Corporate Strategy:

    • Collaborating with the CEO and/or the Executive Management  to set strategic financial goals and make strategic business projections based on current trends and future expectations.
    • Work with the management team to ensure alignment on resource requirements and action plans to allow for company’s goals to be met.
    • Continuously monitor company performance and the external landscape to identify risks and opportunities and determine whether adjustments to the strategic approach is required.
    • Work with management to define and implement effective work processes and ways of working across the company to realize the strategic objectives

    Financial Leadership:

    • Financial Management: Oversee the duties of the company’s finance function to ensure compliance with regulatory and organizational requirements; increase efficiency and effectiveness of the finance team; accuracy and reliability of financial information and the overall management of the company’s funding and expenditure.
    • Develop forecasts, company financial models and work directly with management across the company to align on plans and measure results. This role requires a deep background in financial modelling and analysis, strong communication skills and a great deal of interaction and relationship building with key stakeholders across finance and the leadership team.
    • Oversee collaboration with other functions, benchmark performance internally to identify opportunities to adjust operating models with the aim of improving effectiveness and efficiency.
    • Treasury/Cash Management and manage the relationship with the company’s bankers.
    • Grants Accounting: Oversee preparation of budgets and financial reports for submission to granting agencies in cooperation with the Program Managers and grantees, as required.
    • Investment Management: Undertake the management of the Company’s assets and securities, including tracking investment performance and providing financial statement analysis to the CEO (and potentially  to the Board).

    Financial Reporting and Analysis:

    • Oversee the preparation of internal reports, including monthly, quarterly, and annual financial reports, including both operating reports and financial reports
    • Oversee the integrity of the General Ledger, transaction reporting, and the balance sheet on a real-time basis, ensuring that all reconciliations and accruals are accurate and reviewed on a timely basis
    • Oversee the preparation of financial reports and certificates, as required by the internal and external stakeholders.
    • Perform all financial reporting and analysis work for the group’s business operations.

    Planning and Budgeting:

    • Participate in strategic and business planning for the group.
    • Coordinate the setting and monitoring of performance against financial goals and objectives.
    • Provide overall leadership and management of the annual budgeting process and any interim re-evaluation processes; the budgeting processes should provide an accurate forecast of financial and cost accounting information based on historical analysis and teaming with other senior management.
    • Provide overall leadership and management to the capital budget and approval process.
    • Support ongoing re-forecasting efforts to ensure that the company maintains a current operating forecast on a real-time basis, which is integrated with the company’s medium term financial forecast and short-term cash forecast.

    Operations:

    • Implement operational best practices.
    • Assess and manage any third-party partners/vendors to which accounting or other finance functions have been outsourced.
    • Supervise the financial operations of subsidiary companies and operations.
    • Oversee the company's transaction processing systems.
    • Ensures that systems are in place to maximize revenue, minimize expenses, and meet capital requirements for all company property in accordance with industry best practices.
    • Maintain relationships with key CAPEX and OPEX suppliers.
    • Provide oversight to ensure compliance with local and international reporting requirements and ensure taxes are determined on a timely basis and paid in line with local regulation.
    • Work with Executive Management on periodical cost management and revenue growth decisions.
    • Lead the due diligence and acquisition process, where applicable.

    Internal Controls & Processes:

    • Ensure proper preparation for all audits.
    • Maintain, review and revise internal controls to ensure the safeguarding of assets and reliability of financial statements.
    • Establish and monitor systems and controls that verify the integrity of all systems, processes, and data, and enhance the company's value.
    • Maintain a documented system of accounting policies and procedures.
    • Enforce compliance with proper accounting procedures and company policies and escalate non-compliance issues to the CEO and/or Executive management when appropriate.
    • Oversee the coordination and activities of independent auditors, ensuring they are provided accurate and timely information as required, all audit inquiries are addressed, and all compliance standards are met
    • Challenge and streamline accounting processes for accuracy and efficiency wherever possible.
    • Direct initiatives focused on automation and efficiencies within the finance unit and in the rest of the Company.
    • Manage the preparation of the annual financial statements, federal and state requirements and preparation of any other required supplementary schedules and information.

    Risk Management:

    • Anticipate and mitigate key elements of the company's risk profile.
    • Assess and maintain appropriate internal control safeguards.
    • Ascertain that the company uses appropriate insurance coverage.
    • Make sure that the company complies with all legal and regulatory requirements.
    • Ensure that record keeping meets the requirements of auditors and government agencies.
    • Maintain relations with external auditors and investigate their findings and recommendations.

    Leadership and Management:

    • Lead and mentor the existing finance team.
    • Establish a system of accountability and monitor the performance and competency of direct reports, including conducting timely performance and salary reviews.
    • Develop structures to build and train an effective finance team.
    • Maintain in-depth relations with all other unit heads.
    • Participate in key decision-making processes as a member of the Management team.

    Qualifications

    • Bachelor’s Degree or postgraduate professional qualifications in Finance, Accounting, Business Administration and/or other relevant and appropriate discipline.
    • 8+ years of experience handling financial management, accounting, reporting, financial analysis and planning.
    • At least 5 years of progressively evolving management and leadership experience managing large complex employee groups.
    • Demonstrated experience and skill with budget preparation and analysis, financial reporting preparation and presentation, and the proven ability to translate technical, financial data into informative reports.
    • Experience in formulating, developing, and implementing financial strategies and plans.
    • Experience with managing and reporting on complex projects, managing risk, and ensuring value for money.
    • Track record of advising senior management and providing technical support concerning best practices in financial management, aiming to support strategic business goals.
    • Background in strategy and business planning with the proven ability to develop and manage business plans, processes, and controls to enhance efficiencies and mitigate risk.

    Knowledge:

    • Strong working knowledge of financial accounting, cash flow, donor, grant budgeting and investment management.
    • Strong working knowledge of audit and compliance of different jurisdictions.
    • Knowledge of accounting standards and consolidated financial reporting.
    • Knowledge of grant processes, procedures and auditing requirements.
    • Strong knowledge of the technology ecosystem and understanding of grant and program financing and management.
    • Demonstrate proven ability in organizational development, business transformation, fundraising, project management, asset, and property management.
    • Mission-focused, energetic, results-oriented and process-minded leader who is able to help others deliver measurable, cost-effective outcomes that make the company’s vision a reality.
    • A deep understanding of the African financial, legal & tax regulatory environments and experience dealing with international accounting frameworks.

    Benefits

    • A competitive salary, based on experience. 
    • Medical Insurance 
    • Work alongside world-class talent 
    • A culture of learning and innovation
    • Opportunities for career growth and training 
    • Interaction with industry leaders and forward-thinking people
    • A chance to make a social difference
    • Overall fun company.

    Method of Application

    Interested and qualified? Go to Co-Creation Hub (CcHUB) Nigeria on jobs.smartrecruiters.com to apply

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