Head of Finance and Strategy at Eldoret Water and Sanitation Company Limited (ELDOWAS)

Job Description/Requirements

Department Finance and Strategy Department

Position Reports to Managing Director

Position Supervises

• Finance Manager
• Strategy Manager

Purpose of the Job (Head of Finance and Strategy)

To plan, direct and co-ordinate the ELDOWAS finances and ensure financial planning, management of financial risks, record keeping, and financial reporting; undertaking strategic and tactical matters relating to budget management, cost benefit analysis, forecasting needs and securing new or additional funding; and advise management and board of directors on financial implication of new and existing ventures.

Main Duties and Responsibilities

The duties and responsibilities are:

Managerial Roles and Responsibilities

• Develop work plan and budgets for the department for approval;
• Oversee the execution of divisional/departmental work plan and budgets;
• Oversee performance management of staff in the division/department;
• Develop Financial Policies for ELDOWAS;
• Lead in Strategy development for ELDOWAS;
• Identify training needs for the departmental staff;
• Mentor and coach staff within the department;
• Supervise staff in the department;
• Identify procurement needs of the department;
• Prepare and submit all monthly, quarterly and annual reports.

Operational Roles and Responsibilities

• Develop Financial plan and ensure availability of cash for various company’s activities;
• Prepare budgets and controlling expenditure;
• Design and implement effective systems of monitoring performance against budget;
• Maintain effective budgetary controls, cost accounting and internal control systems and procedures;
• Advise management and board of directors on financial implication of new and existing ventures;
• Ensure optimal utilization of organization resources;
• Participate in top management meetings (corporate management team);
• Develop a long-term strategy for the timely generation of financial resources;
• Formulate and maintain up to date register of company’s assets and liabilities;
• Produce divisional and corporate forecasts for income and expenditure on monthly, quarterly and annual basis;
• Preparing year-end income and expenditure forecasts.
• Prepare monthly, quarterly, and annual financial and non-financial reports for stakeholders’ consumption and ensuring its integrity;
• Prepare annual and long-term capital and revenue budget for consideration by the board and management for decision making;
• Periodically assess the accounting best practices and advise the company appropriately;
• Participate in Procurement Tender Committee;
• Ensure quality accounting and maintenance of records meet the required International Financial Standards and implement recommendations from the internal Financial Management, Management and external Audits reports
• Oversee the development and implementation of sound financial management systems
• Participate in monitoring and evaluation of company operations;
• Assess business risk and create financial awareness on resource allocation, cost reduction and financial discipline.
• Perform any other duties that may be assigned.

Key Result Areas:

The jobholder’s accountability areas are as follows:

• Effective operational cost control of the department’s financial resources;
• Successful implementation of quality control standards for services offered by the department;
• Effective supervision of employees assigned to the department;
• Maximization of productivity in the department;
• Continuous process improvement of services offered by the department;
• Ensure customer satisfaction for the consumers of the services offered by the department;

Knowledge and Skills Required:

The jobholder must possess:

• A Master’s Degree in Finance/Accounting or equivalent;
• Bachelor’s degree in Finance or any other related field;
• Professional qualifications such as CPA K/ACCA, ICPAK membership/ACCA;
• A minimum of 12 years’ related work experience, six (6) of which should include senior management experience in a large organization;
• Must have demonstrated ability to handle departmental budgets, resources, processes, projects and relationships;
• Should have good knowledge of the relevant industry/sector as well as knowledge of regulatory requirements affecting the relevant sector;
• Must be capable of functioning effectively both as a team player and a team leader;
• Must have ability to plan, organize, implement and evaluate departmental goals;
• Must demonstrate ability to handle multiple and conflicting priorities, and work under strict deadlines;