QSSK-LK-CFO- Chief Financial Officer at Q-Sourcing Servtec Group

Job summary:

Reporting to Chief Executive Officer & Managing Director, this role is responsible for the East Africa business including Tanzania, Uganda, Rwanda & Kenya.

The incumbent is responsible for:

• The long-term financial health and growth of the company
• Ensuring regulatory compliance all financial aspects of the business
• Collating, implementing, and managing strategies in line with the company’s vision with the aim of increasing revenue, achieving maximisation of profits and return on investment across the region through prudent fiscal management and efficient use of resources.
• Contributing as a member of the regional/senior management team with regards to planning processes for budgets, staffing and operational matters in support of the achievement of organisational strategy and objectives.
• Overseeing the day-to-day management of finance and accounts department, and supports administrative functions to fulfil organisational objectives, achieving specific goals, and maximising profit and efficiency.

DUTIES & RESPONSIBILITIES:

Working alongside a business’ MD /CEO, the CFO will be required to be exceptional accountant and hands-on with company finances as well as be commercially aware, advising on the best path of growth for the business.

The incumbent will be required to perform the below duties:

Forecasting & Budgeting

• Prepare Group financial and operational forecasts on regular basis and report on actual performance versus forecasts
• Undertake interpretation and presentation of financial reports in order to monitor work and performance status as well as determine expenditure trends of the organization and provide inputs into strategic planning of the organisation.
• Lead in the preparation of annual budget in line with the expectations and strategies of the Group
• Provide input to the development of Group’s budgeting guidelines, policies and procedures ensuring inculcation of best practices and alignment with local operating regulations and requirements.

Planning and Strategy

• 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 Group overall objectives.
• Communicate and ensure implementation of working instructions, standard operating procedures and operational standards (including LEAN principles) with regard to all finance and accounting processes and practices in support of the achievement of organisational strategy and objectives.

Analysis and Reporting

• Ensure monthly management reports are produced with acceptable accuracy as per tight reporting deadlines
• Use data analysis to strategically forecast financial trends
• Ensure collaboration/interface with other departments on financial assessment of projects, business models and business plans.
• Provide broad guidelines for the management of Group fixed assets from an accounting perspective, ensuring that organisational policies with respect to accounting for fixed assets are adhered to at all times
• Undertake interpretation and presentation of financial reports in order to monitor work and performance status as well as determine expenditure trends of the organization and provide inputs into strategic planning of the organisation.

Working Capital Management

• Manage the Group’s cash-flow by ensuring strict adherence of credit terms to customers to enhance collection of debts and settle all liabilities on time
• Managing transactional team and overseeing/reviewing sales ledger, purchase ledger, payroll, cash posting and all general ledger entries.
• Define and document Group’s credit guidelines, policies and procedures ensuring inculcation of best practices and ensure adequate monitoring and management of credit exposure.

Tax & Audit

• Oversee and drive preparation processes for annual audits pertaining to financial processes once the financial year is over, in accordance with agreed plans and timeframes.
• Handling VAT, PAYE and Tax duties, including corporation tax.
• Identify and mitigate tax risks
• Manage and coordinate tax audits
• Facilitate and manage the preparation and review company federal tax returns and the accurate, timely filing of all tax forms.

Internal Control

• Develop, implement and continuously review internal controls, policies and procedures in the management and operations of the company in relation to the finance and accounting functions
• Manage the annual audit of the Group to ensure statutory deadlines are met with ease
• Oversee and drive preparation processes for annual audits pertaining to financial processes once the financial year is over, in accordance with agreed plans and timeframes.
• Manage the annual audit of the Group to ensure statutory deadlines are met with ease
• Ensure compliance to all company policies and statutory matters
• Proactively identify risks, and define and implement strategies to prevent revenue leakage.

General

• Direct & monitor all financial activity of the organisation
• Have a clear understanding of and adhere to current laws and regulations
• Provide quality leadership to the accounting staff in the region to ensure their development and progression
• Recruit and plan activities and manages performance of own staff to ensure that service standards are met in pursuance of team objectives.
• Participates in the execution of changes to procedures, policies, and systems to facilitate expansion, compliance, and scaling of the business
• Adheres to professional conduct requirements in line with organizational policy and relevant professional body ethical standards and monitors compliance of own employees in this regard
• Ensures proper record keeping for company’s financial documents
• Participates in meetings with the regional Board of Directors to report on financial matters when called upon.
• Ensure compliance to all company policies and statutory matters
• Communicate and ensure implementation of working instructions, standard operating procedures and operational standards (including LEAN principles) with regard to all finance and accounting processes and practices in support of the achievement of organisational strategy and objectives.
• Participates in monthly meetings with managers to report on financial matters, discuss progress on agreed plans.
• Liaise with external customers such as banks and insurances in order to resolve issues, address non- conformances, maintain a positive image of the organisation and promote the services of the Company
• Adheres to professional conduct requirements in line with organisational policy and relevant professional body ethical standards and monitors compliance of own employees in this regard.

EDUCATION & QUALIFICATIONS

• B Com. Finance or related field from a recognized University
• (MBA will be an added advantage)
• Must possess CPA (K) or ACCA qualification

REQUIRED EXPERIENCE

• At least 10 years’ experience in the finance and accounting field, of which 5 years must be in senior management position (audit experience will be an advantage)
• Experience in managing a diverse workforce
• Experience in the regional market and working in a multinational organization is an added advantage

RELEVANT JOB KNOWLEDGE

• Analytical skills to think things through to obtain correct outcome
• Time management skills to deliver various reports on the same day
• Communication and cultural sensitivity skills (verbal, written, influencing, conflict management, presentation)
• Good understanding of trends, challenges, opportunities, regulations and legislations relating to the industry.
• Strategic financial planning and analysis.
• Advanced financial and accounting knowledge, including understanding of finance best practices and IFRS/ international accounting and financial reporting standards
• Strong negotiation skills and influencing skills.

COMPETENCIES REQUIRED TO DO THE JOB

• Analytical skills to think things through to obtain correct outcome
• Time management skills to deliver various reports on the same day
• Resilience
• Interpersonal skills
• Good understanding of micro and macroeconomic indices and their impact on the business.
• Good understanding of foreign exchange operations and regulation.
• Very sound business acumen – financial and commercial knowledge.
• Strong communication and interpersonal skills.
• Strong leadership and people management skills.
• Strong problem-solving skills.
• High ethical standards and integrity.
• Ability to manage multiple priorities.