Finance Manager Reporting job at True North

 Coordinate the budget preparation and expense management activities for assigned accounts.

Monitor expenditures, analyze revenues and determine budget variances and report the same to management; provide timely advice and explanations on potential over spent to management.

Coordinate and manage auditing activities by providing necessary information and preparing requested documentations.

Maximize resources to ensure that optimal value for money is attained for the company.

Clearly defining income /cost ratio, ensuring budget holders have appropriate finance skills and provide required training.

Treasury, Cash, and Inventory Management

Manage cash flow, working capital, and liquidity to ensure the company's financial stability.

They oversee banking relationships, manage debt and financing arrangements, and optimize the use of financial resources.

Review and approve of bank reconciliation statements for all bank accounts.

Coordinate the quarterly stock counts, surprise counts and end of year.

Coordinate and maintain a cash flow management and forecasting system whereby adequate funds are available for business needs.

Oversee and ensure financial systems and procedures that enable efficient and appropriate use of financial systems.

Monitor and record financial transactions according to company policies and regulations.

Development and review of accounting and financials polices procedures.

Approve payments within allocated Limit and all Payment Vouchers.

Ensure that changes in legislation or company structure are reflected without

delays in internal controls and systems.

Provide technical staff relevant trainings to ensure understanding and compliance with financial policies.

Reporting

Generate accurate and timely Management Accounts to the Shareholders, Board and Management monthly and Quarterly basis.

Continuous development of reporting dashboards to improve reporting for the Heads of Departments to support their reporting needs.

Ensure preparation of accurate and timely sales and finance reports (weekly/monthly) to the Exco team.

Prepare financial reports in line with financial reporting requirements and standards.

Ensure month-end accounting activities such as reconciliations and journal entries are undertaken on time.

Review of key account balances i.e. biological assets, Loans, Related parties, Inventory, Leases, etc.

External and Internal Audit

Coordinate the financial year audit, preparation of statutory accounts and subsequent annual reports for Management.

Support in the internal audit process.

Financial Management Systems

Provide support in procurement of the computerized accounting systems through evaluation of various suppliers and provide recommendations best applicable system.

Monitor the performance of the financial management system through identification of system challenges and recommendation of system of functions that need improvement.

Ensure all the finance team member understand and are in position to effectively utilize the financial system.

Continuous innovation and improvement in technology and development of dashboards that can improve reporting for different sections of the business.

Financial Analysis Process

Perform financial analysis and reporting to management as needed.

Analyze financial discrepancies and variances from all reconciliations and recommend effective resolutions.

Management Information

Respond to accounting inquiries from management in a timely fashion.

Respond to all queries from external stakeholders i.e. bankers, shareholders, etc. on finance related issues.

Participate in all strategic and management meetings and provide the required financial analysis or information.

Leading a continuous developing and improving team

Supervision and coordination of the finance teams (Payables, Stock and Sales) to complete the assigned tasks within the set deadlines.

Provide guidance and support to the accountants when needed.

Conduct regular performance appraisals, monitoring progress and setting objectives.

Review the roles and responsibilities of the finance departments to ensure needs and demands of the company; and efficient, effective, and flexible structures is desirable for the company.

Success Measures

Balanced and complete business budget

Successful annual and internal audit process

Effective budgets and cash flow management

Evidence of value for money in all business expenditures

Timely and accurate posting of financials to NAV system

Financial transactions adhere to company policies and procedures.

Adequate funding of company’s activities and accurate projections/reports to management

Account balances are timely reviewed.

Reduction in reclassification

Timely completion of accounting activities e.g. reconciliations and journal entries

Full compliance and statutory regulations

Accurate and detailed monthly management report approved by CFO.

Debtors and Creditors managed effectively.

Full compliance with statutory regulations

General reports and statements are presented and discussed with line manager timely.

Financial reports are prepared timely and presented to the board.

Timely and accurate Weekly/Monthly sales reports

Timely and accurate Weekly/Monthly stock/inventory reports

An efficient and effective computerized accounting system in place

Finance team is well trained and can effectively use the accounting system.

Reconciliations are analyzed and solutions to discrepancies are suggested and implemented.

Timely response to management and external shareholders

Annual team objectives achieved.

Annual performance review of each line report