Head Of Department - Finance at Tradewinds Aviation Services

Job Purpose

• The Head of Department Finance is responsible for the efficient management of the company’s financial resources, ensuring accuracy in financial reporting and compliance with legal standards. The role involves developing and maintaining accounting principles, practices and procedures to support strategic decision making. The role collaborates with various departments to establish budgets and forecast activities, monitor financial performance, implement cost control measures and coordinate year-end organizational audits.

Key Responsibilities

Financial Reporting and Analysis

• Prepare accurate and timely annual financial statements, including income statements, balance sheets, and cash flow statements.
• Conduct financial analysis to identify trends, variances, and opportunities for improvement.
• Assist the Financial Controller with statutory reporting ensuring compliance with accounting standards and regulatory requirements.
• Respond to inquiries made by the Financial Controller and other managers regarding financial results and special reporting requests.
• Produce, as required, any ad hoc financial reports as requested by the Financial Controller

Budgeting and Forecasting

• Collaborating with other departments, develop, implement and monitor budgets.
• Provide budget utilization and contribution analysis reports to assist the various departments to manage and monitor their performance in line with the allocated budgets.
• Analyze budget variances and recommend corrective actions.

Cash flow Management.

•  Provide short term and medium-term cash forecasting and projections to guide the organization in planning.
• Manage organization cash requirements through a 13-week rolling cash flow analysis.
• Oversee weekly cash management.
• Supervise accounts receivable and payable management and provide guidance relating to the collection process.
• Oversee the daily bank reconciliation and bank position reports.

Internal Controls and Risk Management

• Work with Financial Controller and Heads of Department across the whole organization to ensure financial risks are identified.
• Develop and implement mitigation strategies of the identified risks.
• Develop and implement policies and procedures with emphasis on internal controls.

Taxation and Compliance

• Ensure compliance with all tax regulations and timely submission of tax returns i.e. PAYE, VAT, Withholding tax etc.
• Working with Financial Controller and others, coordinate organization annual audit and ensure a clean audit report.
• Develop and implement mitigation strategies of the identified risks.
• Provide analysis and advice to the Financial Controller on the potential implications of proposed changes in accounting rules/policies and legislation/government rules.

Financial Systems and Processes

• Oversee the development and implementation of new procedures and features to enhance the workflow of the department.
• Monitor and analyse department work to develop more efficient procedures and use of resources while maintaining a high level of accuracy.
• Ensure the integrity and reliability of financial data.

Other

• Coach and mentor staff regarding the handling of non-routine reporting transactions.
• Develop and implement financial policies and procedures.
• Participate in the induction of new and existing staff on financial processes as and when required
• Maintain a proper and well managed physical filing system of all accounting documents Any other responsibility as delegated by management.

Minimum Knowledge, Qualifications and Experience required for this role

• Bachelor’s degree in accounting or finance
• Minimum of 8 years working experience
• Proficiency in computer skills
• Knowledge of Cargo wise system

Certification/Membership

• CPA (K)
• CISA (Certified Investment and Security Award) is an added advantage Role

Related Competencies (Behavioural Indicators):

• Creativity and innovation
• Multi-tasking
• Prioritization of different tasks
• Strong interpersonal and relationship management skills
• Excellent communication skills (Verbal & written)
• Excellent organizational and planning skills
• Ability to work as part of a team in a pressured environment.
• Attention to detail and ability to maintain confidentiality.
• Demonstrate problem solving skills.
• High level of integrity and work ethics

Key Performance Indicators

• Efficiency of cash flow management
• Adherence to tax compliance and timely filing of returns
• Effectiveness of the internal controls in preventing errors and loss
• The accuracy and reliability of financial reports prepared. 
• Number of process improvements implemented.
• Budget implementation and monitoring
• Team management – efficiency and productivity of the team