Finance Vacancies at the Ikeja Electricity Distribution Company (IKEDC)

Reporting To: Head, Management Accounting, Tariff and Taxation

Role Purpose

• Will be responsible for overseeing all tax related activities

Responsibilities

• Pay-As-You-Earn (PAYE)
• Liaise with the Human Resource department to ensure correctness of PAYE computation.
• Liaise with the Treasury unit to ensure timely remittance of PAYE.
• Follow up with the relevant tax authorities on the collection of PAYE receipts.
• Ensure timely filing of annual PAYE returns.
• Follow up on the collection of E-tcc cards for the staff.

Withholding Tax (WHT):

• Liaise with the treasury and other business units to ensure correctness of WHT deductions
• Ensure timely remittances of WHT deductions.
• Follow up on collection and disbursement of credit notes.

Value Added Tax (VAT):

• Ensure correct computation of VAT.
• Ensure timely remittance of VAT.
• Ensure timely filing of VAT returns

Company Income Tax (CIT):

• Ensure correctness of annual tax computation.
• Ensure timeliness of CIT filing.

Tax Audits:

• Participating in the various tax audits
• Ensure timely provision of information required for the tax audits.
• Attending to various issues arising from the tax audit.

Others:

• Be up to date on all tax laws, enactments and advising the company on the implications.
• Carry out any other duty as requested by Head Management accounting, tariffs & taxation and Head of Department

Minimum Qualifications

• This role requires a first degree or its equivalent diploma qualification in Finance & Accounts
• Requires between 4-6 years relevant work experience in an audit/tax firm

Technical Competencies:

• Excellent knowledge of tax laws, tax accounting, tax compliance and all types of tax returns
• Knowledge and experiences in accounting.
• Have strong and flexible mentoring skills
• Ability to organize and analyse financial information.
• Good computer skills.
• Ability to present a professional business image to customers, employees and vendors.

Behavioral Competencies:

• Ability to work under pressure and multi task effectively
• Meticulous attention to detail.
• Flexible to learn.
• Good written & spoken English communication skills.
• Problem Solving & Decision Making.
• Innovative Thinking

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Reporting To: Chief Finance Officer

Role Purpose

• Shall be responsible for effective General Accounting, External Reporting, Treasury Management and Account Payables, including development of operational policies & procedures to ensure financial discipline, preparation and reporting of financial performance of the IE, Coordination of Business Units Finance, effective management of funds and optimizing financing costs, etc.

Responsibilities
General Financial Accounting:

• Ensure that Accounting policies, guidelines for recording financial transaction, prudent accounting
• Principles (in consultation with the CFO) and accounting standards applicable as per statutory requirements of company law are framed and followed
• Conduct periodic reviews of the organisation’s accounting policies & procedures and update where necessary
• Responsible for periodic book keeping review
• Supervise the reconciliation activities and financial close activities
• Oversees the preparation of Final Accounts, other regular review reports
• Ensures proper maintenance of General Ledger accounts
• Ensure the maintenance of accounting controls

Treasury Management:

• Bank and Cash management
• Liquidity management
• Funding
• Exchange rate risk management
• Interest rate risk management
• Develop policies and strategies for evaluating different investment opportunities.
• Review investment proposals prepared and forward to CFO for investment decisions.

Investments and Fixed Assets Accounting:

• Review the proposals for capital expenditure as per  delegation of power (DOP)
• Maintain Fixed Assets records and reconciliations

Inventory Accounting:

• Ensure correct and accounting for inventory

Training and Development:

• Conduct Performance appraisal of employees under him and identifying specific training and skill requirements for officers directly reporting to him
• Perform any other task assigned by CFO/Director from time to time
• Other Administrative responsibilities
• Monitor department’s performance through Key Performance Measures.
• Ensure provision of adequate resources for various activities of the department
• Identify training needs of officials and arrange to provide the same.

BU Finance Coordination:

• Management of BU financial risks, treasury operations and process management.

External Financial Reporting:

• Statutory reporting
• Regulatory Reporting
• Reporting to Lenders and other stakeholders

Others:

• Carry out any other duties as requested by the CFO/ CEO of the company

Minimum Qualifications/Requirements

• Chartered Accountant, MBA will be an advantage, with 9- 12 years of experience in the field of Finance & Accounting and Financial Management, Banking operations Treasury management etc, and at least 5 years in management position

Technical Competencies:

• Advance Accounting and Financial Techniques

Behavioral Competencies:

• Strategic thinking skills
• Excellent interpersonal skills