Egbin Power Plc, Lagos is one of the biggest additions to the electricity industry in Nigeria. Often seen as the biggest single generating power station in Black Africa, it was built to meet the every rising demand for electricity in Lagos and its environs.
- Coordinate and manage the accurate recording and reporting of Egbin’s revenue from the power generation.
- Provide Egbin Management with timely, complete and accurate financial information for business decision-making process.
- Oversee organization’s financial analysis and forecasting; cost and revenue management; and fixed asset accounting.
Key Duties and Responsibilities
- Develops annual Revenue Management (RM) goals and translate the goals into an annual RM plan
- Co-ordinate investigation, analysis/ evaluation and resolution of revenue related issues that arise during disputes on revenue recognition
- Periodically review and report on the status of billing with the Market Operator, Bulk Trader, Special Customers and the outsourced functions
- Review revenue impacting policies, processes and activities in line with realities of the Nigerian environment. Actively support in the provision of recommendations for modifications on such policies
- Perform monthly energy and capacity reconciliation in conjunction with the commercial and contracts unit for the purpose of revenue recognition for the plant.
- Provide relevant suggestions to the management and Board on potential revenue sources to be identified and explored
- Ensure timely and accurate recording of direct payment and cash receipts from Egbin’s power buyers.
- Conduct ageing analysis and compile reports on billing outstanding balances over 30, 60, 90 and 120 days especially in the period covered by the interim market rules.
- Monitor credit transactions to ensure that all agreements and laid down policies and procedures are fully complied with, and identify, investigate and report any contraventions, non-compliance and exceptional credit related cases to the Head, Finance & Accounts.
- Participate actively in the implementation of appropriate recovery strategies to ensure timely collection of market areas.
- Oversee and ensure timely reconciliation of EGBIN’s bank statements and the clearing of identified exceptions.
- Collate inputs and translate into agreed format for management reporting.
- Ensure month end balances and financial statements are prepared in a timely manner.
- Ensure timely generation and rendition of monthly, quarterly and annual financial statements (profit and loss, cash flow and balance sheet).
- Prepare the unit’s budget inputs and contribute in the preparation of the budget firm-wide.
- Design and develop a unit plan that details how the unit will deliver on organizational requirements
- Coach, mentor and conduct performance appraisal for subordinates on a timely basis
- Conduct performance review of subordinates.
- Prepare periodic report for the attention of the Head, Finance & Accounts.
- Approve expenditure within the limits of approval
- Perform any other duties as assigned by the Head, Finance & Accounts.
Education and Work Experience:
- Bachelor's degree or its equivalent in Accounting/ Finance/ Economics or other related discipline.
- Relevant professional certification (ACA, ACCA, CIMA, CFA).
- Minimum of eight (8) with at least three (3) in a managerial role.
Skills and Competencies:
- Good understanding of micro and macroeconomic indices and their impact on the business.
- Good understanding of trends, challenges, opportunities, regulations and legislations relating to the power sector and its impact on revenues
- Good knowledge of the wholesale electricity market and the relevant settlement mechanism.
- Working knowledge of the Multi-Year Tariff Order, cost assumptions, returns on investments etc.
- Deep understanding of foreign exchange operations and regulation.
- Advanced financial and accounting knowledge, including an understanding of finance best practices and IFRS/ international accounting and financial reporting standards.
- Knowledge of the Financial Reporting Council (FRC) and NERC requirements for financial reporting
- Very sound business acumen - financial and commercial knowledge.
- Excellent communication and interpersonal skills.
- Advanced leadership and people management skills, including the ability to manage teams effectively
- Excellent negotiation skills and influencing skills.
- Well-developed problem-solving skills.
- High ethical standards and integrity.
- Good knowledge of a standard ERP Solution.