Job Vacancy For Finance Manager



JOB TITLE: Finance Manager GRADE: Executive Head level 4 notch 5

REPORTS DIRECTLY TO: Managing Director

• Guidance on implementation of best practice policies, procedures and principles.
• Guidance on key overall business result areas, implementation of the annual business plan and core functional projects, and workload.
• Direction and guidance on Board and investor financial targets, policies, procedures and performance.

REPORTS INDIRECTLY TO: Board of Directors - General direction on matters relating to financial policies.

DIRECT REPORTS

• Account Officer
• Stores Officer
• Guidance on implementation of best practice policies, procedures and principles.
• Guidance on key result areas, implementation of functional projects and workload.

INDIRECT REPORTS - All Account staff - Guidance on implementation of best practice policies, procedures, and principles.

4. JOB PURPOSE

• To provide leadership, direction and expertise in financial management functions and activities, and ensure that these are effectively and efficiently managed to provide high quality services.
• To establish and enhance overall financial controls in order to ensure profitability and sustainability while assuring compliance with locally acceptable accounting principles, Policies and procedures, tax laws and regulations.

5. KEY RESPONSIBILITIES

With limits of delegated authority from the Managing Director, the Finance Manager will be responsible for achieving the following objectives and responsibilities:

5.1 Management of the Finance and Strategic Functions

• Supervises the following Accounting functions including but not limited to General Ledger, Accounts Payable/Receivable, Payroll Administration, Benefits Administration, financial systems, record, accounts and procedures.
• Assures audit compliance and procedure quality controls are maintained for the Finance Department and the firm as a whole.
• Ensures that the Finance Department is in compliance with established bank policies, procedures and statutory regulations.
• Assists all other departments in resolving accounting inquiries.
• Participates in various internal Board and Committees as assigned by Managing Director.
• Establishes and manages journal, general ledger, management and financial accounts, receipts, payments and assets ledgers, treasury, and financial records and accounts.
• Sets the overall financial objectives and plans and monitors performance against the strategic plan; reports and takes corrective action against significant deviations.
• Ensures regular client, supplier and staff satisfaction surveys regarding Finance and Accounting services and takes corrective action.
• Establishes and ensures the delivery of high quality service standards to internal clients, and responds and resolves inquiries, requests, and issues related to financial, payment and administration.
• Sets and takes corrective actions against significant deviations from set service quality standards.

5.2 Budget and Budgetary Controls

• Establishes budget control policies, systems, and procedures and ensures their proper implementation.
• Establishes cost control mechanism and monitors all expenses to ensure compliance to set budget.
• Develops and trains departmental heads to prepare budgets through standard budget preparation and monitoring tool.
• Provides expertise, advice, and support to the MD and Management Team in preparation and control of budgets.
• Prepares annual budget projections based on input from Management Team.
• Sets and monitors capital and fixed assets budgets including office equipment, buildings, transition, and expansion project.
• Sets and monitors operational business revenue and overheads budgets including payroll, stationery, telecommunications, transport and rentals, client volumes, pricing, and other direct/indirect operational costs.
• Oversees and/or performs payroll processing functions to ensure time records are maintained; ensures pay is accurately calculated and proper deductions are made; responsible for functions relating to cheque preparation and distribution as scheduled.
• Ensures prompt payment of payroll, reimbursement expenditures, and other expenses.
• Reviews and approves invoices and cheques prior to signature to ensure security of company funds.
• Prepares timely and accurate monthly variance analysis report of actual expenditure against budget by head office and branch function.
• Reviews expenditures to ensure compliance with budgets; notifies appropriate manager(s) in the event where expenditures exceed budgets.
• Establishes a positive cost-control management culture attitude amongst all staff.

5.4 Fund and Treasury Management

• Receives and holds in authorised accounts all funds due to the company from authorised sources.
• Keeps complete and accurate accounts of receipts and disbursements.
• Acts as the custodian of securities and bonds and similar valuable effects of the organisation.
• Appraises, plans, and provides short-term working capital and medium to long-term funding requirements.
• Monitors cash movement by ensuring timely and accurate bank reconciliation and other reconciliation against cash position report.
• Advises the MD, Management and the Board about the bank’s cash position.
• Establishes, communicates, and monitors financial accountability and spending limits at all management levels.
• Reviews and recommends investment of deposits and idle funds (stocks and high yielding investments and placements).
• Keeps abreast of the market deposit rates and negotiates best rates with depository banks.
• Sets appropriate system for managing and administering company funds.

5.5 Financial and Management Reporting

• Develops and implements policies and procedures to ensure maintenance of accurate accounting records and report preparation.
• Develops, tests, and implements policies and procedures (manual and computerised) to ensure maintenance of accurate accounting records and report preparation.
• Ensures accurate completion of internal and related financial reports initiated by company’s MIS Department.
• Prepares annual, quarterly, and monthly statements showing the financial condition of the organisation.
• Prepares and submits timely, accurate, and reliable consolidated financial and management reports, statements, certification and related documentation including the balance sheet, income or profit and loss (P&L) and cash flow statements.
• Reviews, monitors, and validates information and data presented in various routine and special financial statements and reports and documentation for accuracy and completeness.
• Co-ordinates and ensures the availability of financial reports, statements, and documentation to both internal and external auditors.
• Prepares a report on the company’s financial position; presents and explains reports and documentation to Senior Management.
• Ensures tax obligations are met on time and in conformity with the local tax regulations.

5.6 Human Resources Management – Finance Functions (With the support of the HR Manager)

• Manages the day-to-day Financial Administration functions and activities and resolves any arising conflicts.
• Recruits, inducts, trains and develops, coaches and encourages staff to ensure high staff morale and motivation.
• Establishes an effective and efficient Finance Teams with the skills, attitudes, and experience competency to develop and manage these functions effectively and efficiently.
• Implements clear and comprehensive organisation structure and job descriptions including roles, responsibilities, competency profiles, accountabilities, and authorities for all finance staff.
• Sets, evaluates, monitors and controls performance against agreed performance standards.
• Encourages teamwork and the sharing of best practice amongst all staff.
• Holds regular progress reporting and planning meetings of own direct reports.
• Advises, guides, and supports all direct reports.
• Acts as an exemplar to the organisational values and sets a personal example to all staff.

5.7 The company’s Transformation and Gender Policy and Equity

• Supports and promotes the company’s gender policy and the Network's initiatives for gender sensitivity and gender equity.
• Promotes a culture of gender equity and sensitivity among staff in the department.
• Encourages the discussion, understanding, and promotion of transformation by Management and staff.
• Participates in transformational activities aimed at empowering staff and clients in such a way that they become agents of social, spiritual, political, and economic transformation in their own communities.

5.8 Self-development

• Develops and maintains own knowledge, expertise and professionalism.
• Keeps abreast of current developments in Furniture manufacturing industry strategies through local and international networking activities.
• Meets personal training and development needs through relevant professional and commercial training and networking activities.

6. KNOW HOW AND EXPERIENCE

6.1 Qualification

• Bachelor’s degree in business related subjects from a reputable university or college
• Master in Business Administration, preferred
• Professional Accounting qualification

6.2 Financial, Accounting and Treasury Knowledge and Experience in a small- medium organization

• At least 5 years senior management experience gained from a similar or a related manufacturing company particularly in managing and supervising Finance functions
• Advanced knowledge and experience in planning, budgeting, and controlling budgets, accounting, taxation, treasury, purchasing and maintenance, payroll management and payments
• Intermediate skills related to the consolidation and reporting of bank financial results, and formulation and implementation of bank accounting procedures
• Advanced knowledge of manufacturing industry
• Experience in setting objectives and developing strategies, policies, and procedures
• Experience in treasury functions - investment of excess funds for optimum returns

6.3 Compliance Regulations and Legal Legislation

• Advanced knowledge of related statutory and regulatory compliance regulations, Accounting principles, and tax laws
• Knowledge of the Financial Services Act and regulations, local legal legislation, local employment and labour laws

6.4 Planning and Performance Management

• Ability to set and deliver business goals
• Ability to set, monitor, and assess achievements against performance targets, quality standards, and service agreements that aligns with business plan
• Ability to monitor profitability and efficiency budgets based on profit and cost centre organisation framework

6.6 Reporting and Communication Skills

• Exceptional oral and written communication skills with the ability to communicate clearly and persuasively, speak clearly to third parties and employees, interpret documents, understand procedures, and write reports and correspondence
• Ability to consolidate and prepare local regulatory, statutory, and board reports
• Ability to meet reporting expectations of the MD and Senior Management Teams
• Ability to maintain high standards of accuracy in the information and advice provided to MD, Management and employees

6.7 Organising, Interpersonal, and People Management Skills

• An effective leadership with the ability to enthuse and inspire employees to give their best in order to achieve goals
• Strong team building skill and experience
• Ability to supervise, train and foster the development of a team providing them feedback, support, and encouragement
• Strong relationship building and diplomatic interpersonal skills with individuals and teams as a whole
• Ability to delegate effectively amongst teams and show commitment to the long-term development of the staff through coaching, mentoring and creation of development opportunities
• Excellent organisation, delegation, performance management, administration, analytical, negotiation, influencing and time management skills
• Has a positive “can do” mentality and has the ability to exploit all available resources to accomplish objectives
• Ability to motivate others by personal role modelling, professional credibility, and trust
• Ability to handle difficult people and tense situations with diplomacy and tact; spot potential conflict, bring disagreements into the open, encourage debate and open discussion and orchestrate win-win situations
• Ability to deal with complex problems involving multiple facets and variables in non-standardised situations
• Disposition to share knowledge fully and willingly with other employees in the interest of the company
• Is assertive and has initiative and personal drive

6.8 Commitment to company Mission and Gender Policy and Equity

• Commitment to company mission, corporate values and motivation as expressed in the ability to incorporate the mission and values in the work area
• Commitment to poverty eradication and an ability to transform the lives and communities of people in poverty
• Ability to support and implement transformational activities aimed at empowering all staff and clients in such a way that they become agents of social, spiritual, political, and economic transformation in their own communities
• Commitment to promoting and supporting gender policy and equity
• Commitment to equal opportunity and diversity policy and equity

6.9 Advanced Mathematical and Numeric Skills

• Calculation of interest, commissions, proportions, and percentages; balancing of accounts
• Addition, subtraction, multiplication and division in all units of measure using whole numbers, common fractions and decimals
• Skill to locate routine mathematical errors
• Computation of rate, ratio and percent including the drafting and interpretation of business financial reports and bar graphs

6.10 Personal Computer Operation

• Intermediate skills in personal computer operation
• Emerge user skills
• Reporting and communication software programmes - word processing, PowerPoint presentation, and spreadsheet
• Typing speed to meet production needs of the position

7. KEY RELATIONSHIPS

• Managing Director
• Board of Directors and Board Committee
• Investors and shareholders
• Management Team
• External auditors
• Revenue authority bodies
• Banking and financial institutions
• Chartered association of certified accountants

Location: Accra

How To Apply For The Job

Interested candidate should send their CVs to:

[email protected]

Closing Date: 22 April, 2022