Head - Financial Control at Interswitch

Job Purpose Oversees and co-ordinates the day to day activities of the Financial Control function to ensure alignment with the overall goals and objectives of the organization as well as ensure compliance with all statutory and regulatory requirements for which the Financial Control function is responsible.

 

Reports to: Regional Head of Finance and Supply Chain

DUTIES AND RESPONSIBILITIES

• Serves as key adviser to the CFO on financial issues; interpretation of accounting and tax regulation matters
• Works closely with and supports relevant group functions especially the Group Head of Financial Control and Group Head of Tax
• Works directly with the CFO, Group Head of Financial Control and other senior regional and Group executives on major finance projects with a significant financial impact for example IFRS Conversion, Transfer Pricing, ERP implementation and Planning Tool implementation
• Monitors all third-party payments to ensure that such payments are justified by the value of work successfully completed and are in alignment with the approved budget
• Works with the CFO to prepare the functions annual budget and monitors its implementation
• Authorises expenditure/transactions in line with the company’s approved financial authority limits
• Oversees the preparation of periodic financial and management accounts in line with Group reporting requirements
• Reviews the organisations financial performance and prepares the company’s financial reports in line with statutory reporting process
• Manages effective relationship with banks ensuring timely response to requests/inquiries
• Develops and maintains appropriate tax structures in compliance with statutory regulations and ensures prompt payment of tax, insurance premiums and other statutory fees
• Manages accounting applications and filing systems and resolves any accounting entry discrepancies
• Prepares draft financial statements to be audited, ensuring the statements reflect the company’s financial position and comply with statutory and regulatory requirements
• Assesses financial adjustments proposed by auditors to be in line with IFRS and accounting standards
• Responsible for the organisations’ Order To Cash cycle
• Manages the accounts payable and accounts receivable portfolio
• Reviews the reconciliation of all ledgers and puts in place adequate controls to reduce discrepancies. Uses insights gained for the preparation of year end trial balance and financial reports
• Manages the company’s payroll system and ensures it remains fit for purpose
• Builds and develops the Financial Control team. Assesses resourcing as well as training needs and ensures that these are adequately addressed to strengthen the Financial Control function
• Manages risk and control within the function

KEY PERFORMANCE METRICS

Financial Reporting

• Timeliness and accuracy of periodic financial reports
• Relevance of reports to decision making
• Sanctions from regulatory authorities arising from late or inaccurate statutory reports

Financial Performance

• Account receivables in days
• Percentage of overdue invoices
• Percentage of bad debts against invoiced revenue

Tax Compliance

• Timeliness in rendition of statutory payments
• Number of defaults recorded
• Ratio of compliance cost to company’s revenue
• Ratio of tax liability to company profits
• Accuracy of tax assessment and records

Portfolio Management

• Accuracy of the books for accounts payable and receivable
• Number of initiatives taken to retrieve funds hereby reducing the account receivable balance

Accounts Management

• Integrity of physical and electronic accounting information
• Timely resolution of accounts discrepancies
• Timely reconciliation of accounts
• Number of timely losses identified

EDUCATION AND EXPERIENCE

Academic Qualification(s):

• Minimum of Bachelor’s Degree in a quantitative field.
• MBA or Masters degree in related discipline would be desirable

Professional Qualification(s):

• Should be a qualified accountant. Relevant professional certifications include CPA, ACCA, ICAEW

Experience (Number of relevant years):

• Minimum of 8 years of relevant experience at least 3 of which should be at a managerial level. Experience with ERP systems would be desirable.

KEY SKILLS AND COMPETENCIES

1 Financial Strategy/Planning

2 Financial Management

3 Accounting Operations

4 Financial Performance Reporting

5 Tax Management

6 Asset Management

7 Management accounting

8 Business Valuation

Competencies Proficiency Level

People Development

• Initiatives undertaken to resource and build the Financial Control team 
• Initiatives undertaken to develop the teams skills

Relationship Management

• Turnaround time for approval of fund requests by financiers

1 Strategic perspective

2 Leadership

3 Problem solving and analytical thinking

4 Communication (written, verbal, presentation)

5 People development

6 Relationship management

7 Negotiation

8 Risk management

WORKING CONDITIONS

• Work Cycle 8am - 5pm (May vary occasionally)
• Work tools Internet Enabled Computer, Printer, Telephone, Internet enabled computer
• Travel requirement Occasionally
• Physical Exertion Limited
• Work Exposure Corporate office environment
• Staff Name Signature Date
• Employee