Head, Finance at Nigerian Electricity Supply Corporation (Nigeria) Limited (NESCO)

Purpose of the Job

• Develop financial and operational strategies to achieve a cost-effective utilization of NESCO’s financial resources and maximize return on investment Provide overall guidance, leadership support and strategic direction in the execution of Finance department’s activities.
• The cited highly demanding vacant positions require persons who have demonstrable capacity to initiate innovations geared at making NESCO (Nigeria) Limited a rejuvenated, vibrant, and competitive power utility Company.

Key Duties and Responsibilities
The Head Finance shall therefore be responsible, but not limited, for the following:

• Drive the development and implementation of the finance function’s operational strategy, policies and procedures, in line with the overall corporate strategy
• Develop, update and implement finance and tax strategies, policies and processes 
• Engage Executive Management and the appropriate Board Committees to develop short-, medium-, and long-term financial plans and projections for NESCO 
• Develop and utilize financial models and activity-based financial analysis to provide a basis for investment decisions and business planning 
• Create long-term financial plans, ensuring that the company’s fiscal objectives are met
• Provide advice to NESCO on its liquidity, investment decisions and financial asset management 
• Oversee tax planning to optimise NESCO’s tax position and ensure tax compliance accordingly 
• Oversee the analysis and evaluation of projects, initiatives and business plans from a finance perspective to provide information to guide management’s decision-making
• Ensure collaboration/interface with other departments on financial assessment of projects
• Drive the corporate finance efforts of the business
• Coordinate NESCO’s annual budget preparation and approval process 
• Coordinate the preparation of departmental budget and approve departmental expenditure in line with approved authority limits 
• Raise funds as approved by the Board to finance company activities and strategic initiatives 
• Formulate and supervise the implementation of asset and liability management strategies 
• Foster a culture of safety, innovation, and continuous improvement within the strategy & business development department 
• Provide overall oversight for all financial risk management activities within NESCO, and ensure that the full spectrum of financial risks (such as interest rate and foreign exchange risk) is identified, measured, monitored and controlled
• Keep abreast of changes and updates in macroeconomic policies and advice the MD/ CEO on the implications for the business
• Manage NESCO’s financial position to achieve optimal sourcing, and growth of funds
• Develop and oversee the implementation of a sound accounting framework and a reliable financial reporting system in compliance with statutory provisions 
• Ensure effective utilization of financial resources to achieve cost efficiency; Drive a cost-saving culture across all areas of the business 
• Provide broad guidelines for the management of assets from an accounting perspective, ensuring that organizational policies with respect to accounting for assets are adhered to at all times
• Establish appropriate, sound standards, controls and procedures for internal and third-party payments across the business
• Approve payroll along with the HR department to facilitate payment to staff 
• Manage NESCO’s statutory reporting obligations, ensuring the accurate and timely production of Annual Reports and Accounts, Half-Year Reports and Quarterly Reports, Board Presentations and all banking obligations 
• Liaise with external and internal auditors; and ensures the annual and/or periodic audits are seamlessly carried out
• Ensure all exceptions raised by the auditors are adequately addressed
• Develop and manage key relationships with relevant external bodies /contacts e.g., regulatory organizations, auditors, solicitors, banks etc. to facilitate effective business operations
• Prepare periodic reports for the attention of the MD/CEO 
• Review and authorize key expenditures/transactions of the Department in line with approved budget 
• Perform any other tasks as assigned from time to time by the MD/CEO

Minimum Educational & Professional Qualifications, Experience and Knowledge

• Bachelor’s Degree or its equivalent qualification in Finance, Accounting, Economics, or any related discipline from a recognized tertiary institution
• MBA or a Masters’ Degree in Finance, Accounting, Economics, or any related discipline from a recognized tertiary institution 
• Relevant Professional Certifications, e.g., Chartered Financial Analyst (CFA), Institute of Chartered Accountants of Nigeria (ICAN), Association of Certified and Chartered Accountants (ACCA). Association of National Accountants of Nigeria (ANAN) or any other relevant professional qualification are required
• Minimum of 10 years relevant professional experience, with at least five (5) years in a Senior Management position in a similar environment

Attributes and Competencies:

• Good understanding of micro and macroeconomic indices and their impact on the business
• Proven experience in financial management and budget planning
• Strong/In-depth understanding of international and local tax laws and regulatory frameworks including investment regulation, data protection regulation, and financial reporting frameworks 
• Potential risk identification and management skills
• High ethical standards and integrity
• Knowledge of the Financial Reporting Council (FRC) and NERC requirements for financial reporting
• Good knowledge of a standard ERP Solution with respect to finance functions
• Good understanding of trends, challenges, opportunities, regulations and legislations relating to the power sector
• Good knowledge of the wholesale and retail electricity market and the relevant settlement mechanism
• Working knowledge of mechanisms for determination of Tariff, cost assumptions, returns on investments, etc.
• Deep understanding of foreign exchange operations and regulation
• Proficiency in technology use.