Chief Finance Officer at a Property Development Company

Job Summary:

The CFO will be involved in every facet of the firm’s commercial real estate investment and management operations. The candidate must have substantial transactional experience with a focus on real estate acquisitions, financing, tax and compliance functions, and fiscal management of real estate assets including joint venture experience with institutional partners. The CFO must also have substantial asset management experience with a proven track record of managing accounting teams with minimal oversight

KEY RESPONSIBILITIES:

• Represents the organization to the public, key stakeholders and business partners.
• Develop and implement financial and tax strategies.
• Manage the financing request and budgeting processes.
• Advises the Board and Management on liquidity, investment and financial asset management.
• Ensure optimal cash flows in order to meet financing requirements.
• Manages key banking relationships to facilitate proper, timely and cost-effective funding of business operations and services.
• Coordinates the preparation and consolidation of statutory annual accounts while ensuring compliance with all accounting and reporting requirements in line with financial regulatory standards.
• Lead the development of continuous short and long-term strategic financial objectives for the firm’s properties and parent entities
• Motivate, lead, and manage the Accounting team with an emphasis on integrity, dedication, and achieving maximum performance
• Oversee all banking transactions and treasury management functions for the organization
• Develop and implement fiscal controls and cash management processes and procedures
• Ensure compliance with applicable state, federal, and local laws for accounting and tax reporting
• Effectively manage existing loans and lender-related obligations
• Actively participate in key stakeholder meetings and discussions, including substantial interaction investors, lenders etc
• Ensure that capital expenditures are made efficiently with emphasis on maximizing return on invested capital (ROIC) and minimizing tax exposure

PERFORMANCE METRICS

Performance Area

Key Performance Indicators (KPI)

• Measures
• Budget and Planning
• Turnaround time of budget preparation.
• Number and value of budget deviations.
• Budget ready one month before year end.
• Not more than 20% deviation from budget.
• Financial/Management Reporting
• Timelines of generating relevant financial reports.
• Accuracy of management and statutory reports.
• Sanctions from regulatory authorities arising from late or inaccurate statutory reports or non-compliance with laws.
• Not less than 80% accuracy of management and statutory reports.
• Submission of reports 72 (Seventy Two) hours before it is required.
• Zero sanctions in a year.
• Financial Controls
• Annual fraud levels.
• Frequency and impact of control gaps.
• Annual Compliance default.
• Not more than 5% fraud level annually.
• Not more than 1% default in compliance annually.
• Treasury Management
• Liquidity ratio.
• Month-on-month return on investment.
• Cost of raising funds.
• Achievement of fund raising targets.
• Not less than 60% liquidity.
• Not less than 80% of fund raising target achieved.

Tax Compliance

• Number of defaults recorded.
• Ratio of compliance cost to company’s revenue.
• Ratio of tax liability to company profits.
• Zero defaults of tax compliance recorded.
• Relationship Management
• Turnaround time for approval of fund requests by financiers.
• Number of complaints from financial partners.
• Approval for fund requests received one month to when it is required.
• Zero complaints from financial partners.
• Business Performance
• Percentage increase in profitability.
• Return on investment.
• Revenue growth.
• Minimum of 20% increase in revenue.

KEY SKILLS AND COMPETENCIES:

• Budgeting, financial forecasting and cost control.
• Investment planning and portfolio management.
• Financial reporting and Tax planning/management.
• Strong project management skills.
• Good customer relationship management skills.
• Excellent interpersonal and negotiation skills.
• Presentation and communication skills.

PERSON SPECIFICATIONS:

• A Bachelor’s Degree in Finance-related discipline.
• MBA with specialty in Finance would be an added advantage.
• Relevant professional certifications e.g. Chartered Financial Analyst, Institute of Chartered Accountants of Nigeria (ICAN), Association of Certified and Chartered Accountants (ACCA).
• At least 6 years’ experience in accounting/finance leadership roles in commercial real estate, property management, and/or real estate development
• Strong background in tax regulations including a strong working knowledge of tax return preparation
• Extensive experience interacting with institutional and agency lenders, JV equity partnerships, and property management firms
• Operate naturally with a strong sense of urgency in a results-based environment