Senior Financial Controller-Manufacturing

JOB TITLE: Senior Financial Controller-Multinational Manufacturing Group

INDUSTRY: Agro-Allied/Manufacturing

DEPARTMENT: Finance/IT

LOCATION: Benin, Edo State.

REPORT TO: Chief Financial Officer

Direct Reports/ Subordinates Cost Accountant, Accounting Supervisor

ABOUT CLIENT: Our client, client, a fully-integrated Agro-industrial establishment with oil palm plantations, palm oil mill, palm kernel crushing plant, vegetable oil refining and fractionation plant, with subsidiaries In Nigeria is currently seeking an ‘ Senior Finance Controller’ to join their team

.Job Summary:

• Ensure accuracy of financial records and compliance with best practice financial management principles and regulatory requirements.
• Perform financial analysis and reporting to management as needed.
• Monitor and record financial transactions according to company policies and regulations.
• Review and recommend changes to existing accounting procedures.
• Manage and coordinate budgeting and management reporting procedures for the company and ensure availability of up-to-date and accurate information on budgeted and actual financial activities, for management to make informed decision-making.
• Preparation of consolidated financial statements in compliance with IFRS.
• Manage statutory audits.

2. Operational & Functional

• Oversee all company accounts and investments
• Drive the implementation of the department’s operational strategy, work plans, programs systems, controls, policies and procedures to ensure a rigorous financial framework in alignment with the company's overall objectives.
• Provide input to the development of the company's budgeting guidelines, policies and procedures ensuring inculcation of best practices and alignment with local operating regulations and requirements.
• Drive and oversee the budgeting process and ensure inputs from all business units are in compliance with stated guidelines and that exceptions are escalated appropriately.
• Ensure timely and accurate preparation of monthly, quarterly and annual management reports to identify results, trends, and financial forecasts and aid management decision-making process.
• Review all financial plans and budgets regularly to look for cost reduction opportunities
• Examine all financial reports from finance team and cost analyst and data closely to check for discrepancies
• Create systems to prevent errors in data collection and calculations
• Ensure ongoing review, update and documentation of monthly, quarterly, and yearly financial forecasts, and ratio analysis.
• Ensure collaboration/interface with other departments on financial assessment of projects, business models and business plans.
• Support the analysis and evaluation of projects, initiatives and business plans across the company to provide information for management decision-making.
• Oversee the preparation of financial reports, ensuring compliance with the company accounting policies and International Financial Reporting Standards (IFRS).
• Implement adequate internal financial control systems and frameworks to ensure appropriate integration of business reporting requirements, the integrity of information contained in and the compliance of the company financial statements with relevant reporting regulations.
• Define and document the company credit guidelines, policies and procedures ensuring inculcation of best practices and ensure adequate monitoring and management of the company's credit exposure.
• Ensure effective utilization of the company Nigeria’s financial resources to achieve cost efficiency.
• Proactively identify risks and define and implement strategies to prevent revenue leakage.
• Provide broad guidelines for the management of the company's fixed assets from an accounting perspective, ensuring that organizational policies with respect to accounting for fixed assets are always adhered to.
• Regularly update the company's accounting policies and procedures manual and ensure compliance with Group policies and procedures.
• Keep abreast of changes and updates in macroeconomic policies and advice the Chief Financial Officer on the implications for the business.
• Coordinate the preparation of departmental budget and approve departmental expenditure in line with approved authority limits.
• Provide overall guidance, leadership support and strategic direction in the execution of the department’s functions and activities.
• Establish and implement financial reporting systems to comply with government regulations and legislation
• Collaborate with auditing services to ensure proper compliance with all regulations
• Prepare and submit periodic reports to the Chief Financial Officer on the activities of the department.
• Assist the CFO in presenting reports to senior executives, stakeholders, and board members.
• Suggest updates and improvements for accounting systems, including payroll and invoicing
• Ensure that all financial transactions are properly recorded, filed, and reported.
• Circulate the annual business planning guidelines/ assumptions and provide guidance to CFO, and other budget holders during the planning process.
• Monitor approved budget allocations by obtaining information on revenue and expenditure,
• and reporting variances monthly.
• Drive periodic budget forecasting and recommend budget review as required.
• Develop periodic and other ad hoc budget reports, forecasts and analysis.
• Manage periodic business performance monitoring and reporting process – liaise with estates and relevant units to obtain data on defined metrics and generate monthly business performance statements, noting major deviations from planned budget and risk areas.
• Ensure timely and accurate preparation of monthly, quarterly and annual management reports to aid executive management decision-making process.
• Conduct in depth variance analysis to explain deviation from budgeted/forecasted performance and highlights management actions needed to correct the situation.
• Carry out ad hoc financial analysis to support information requirement for investor relation and other management decision process.
• Allocate costs for central or joint expenditure to relevant cost centers in line with PRESCO’s cost allocation policies.
• Ensure accuracy of tax reporting in financial statements – audit reviews, budgets & reports.
• Manage the company's tax remittances and provisioning to ensure appropriateness.
• Manage the retention and preparation of tax records, tax returns, and other tax documentations.
• Ensure complete and accurate documentation of relevant supports and proof of tax remittance.
• Continually identify assess and advise the company's Executive Management on tax saving opportunities.
• Provide tax efficient solutions to the company's projects and stakeholder activities.
• Coordinate regulatory tax audits.
• Stay up to date on tax related trends (e.g. changes in relevant tax laws), analyses their impact and provide recommendations to Executive Management on necessary steps.
• Manage and maintain relationships with relevant internal and external stakeholders including local and international tax authorities, tax consultants, etc.
• Ensure the company's activities comply with local and/ or global financial regulatory requirements.
• Perform any other duties as may be assigned by the CFO.

3. Leadership & Team management

• Manage the employees of the section by providing training programmes and coaching to ensure high quality professional performance.
• Communicate job expectations and appraising of staff performance.
• Provide guidance to the employees of the section in the execution of day-to-day tasks
• Assist in managing the unit’s budget and obtain approval for expenditure as defined in the approved manual of authority.
• Develop and submit periodic reports of accounting activities to the CFO.
• Ensuring adherence to HR Policies and Supervising compliance on various HR related actions for all employees.
• Set up KPIs for his unit and oversee designated teams in the execution of their duties, providing expertise as required
• Evaluate Accountants competencies and gaps then identify the training & coaching needs of his team, making sure that the coaching & training is imparted in association with the HR team
• Monitors key performance indicators; report periodically on the department’s activities as required
• Conduct performance appraisal evaluation of the team.
• Contributes to team effort by accomplishing related results as needed.
• Identifying critical positions and successions for the same.

4. QSE Responsibilities:

• Know and fully apply the company's QHSE requirements, policies, procedures.
• Take care of his own health and safety in the workplace and ensure that acts or omissions do not adversely affect the health and safety of other people.
• Take appropriate measures to minimize risks to quality, health and the environment.
• Communicate any case of hazardous situation to the Top management or QSE representative.
• Engage in the QHSE system by organizing all mandatory training and awareness
• Propose and carry out improvement, corrective and/or preventive actions.
• The list of missions described in this document is not exhaustive and is subject to change.

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 palm oil industry.
• Good understanding of foreign exchange operations and regulation.
• Advanced financial and accounting knowledge, including understanding of finance best practices and IFRS/ international accounting and financial reporting standards
• Very sound business acumen – financial and commercial knowledge.
• Working knowledge of ERP.
• In-depth knowledge of local and the company's approved QHSE policies and norms
• Good knowledge of ISO standards

Qualification and Experience

• Bachelor degree, HND or master degree in accounting, Finance, Economics or any other related discipline.
• Relevant professional accounting qualifications.
• Minimum of twelve (12-15) years relevant experience with at least three (5) in a senior managerial position in a Manufacturing/Agro-Allied industry.

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