Finance Head at IO Furniture Limited

⏲ Feb 13, 2020, 8:34 PM
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IO Furniture Limited is a full-service interior design and manufacturing company characterized by our uncompromising quality and innovative design solutions. With innovation, functionality, and style at the heart and soul of our company, we deliver perfection consistently.

We are recruiting to fill the position below: Job Title: Head, Finance Location: Lagos

Job Summary

General Business
Finance Administration
Budgeting / Forecasting & Reporting
Asset Management
Regulation & Statutory Compliance
People Management

Core Working Relationships:

Sales Operation
Technical Team
Production Team
Logistics / Procurement Team
Finance Team
Board
Management Team.

Task Complexities General Business:

Oversee the smooth and efficient running of the Finance Dept.
Ensure compliance with statutory authority, audit requirements and relevant
Accounting Standard
Designing and implementing all necessary Policies and Procedures to ensure standardized flow of works and transactions.
Involves in Planning and Execution of Financial goal and being abreast of development in FX market for ultimate benefit of the company.
Reviewing of Government policy with their respective impact on the business and supporting other department in moving the business forward.
Maintain integrity of Accounting system (software), ensuring it remains effective and operational at all times.
Ensure all taxation requirements are complied with at all times by designing and implementing efficient Tax Management Strategy.
Establishing and maintaining cordial relationship that will be of immense benefit to the company with bankers/financiers.

Finance Administration:

Ensuring monthly reconciliation of all ledgers and sub-ledgers.
Analyzing the business performance/results, providing feedback to Senior Management.
Tracking and monitoring revenue/cost for accuracy, verifying it against sub ledger report on a monthly basis.
Ensuring that revenue and Cost are allocated correctly, taking corrective action where inconsistencies arise.
Ensuring monthly accruals are adjusted to meet demands of the business.
Negotiating competitive rates with insurers and in conjunction with relevant personnel tracking, monitoring as well as managing insurance claims.
Ensuring timely stock counting in line with company and audit requirement.
Instituting Internal Control to safe guide the company assets.
Ensuring timely reconciliation of Bank Statement against the General ledger for prompt discovering of errors or misstatement.
Ensuring effective and efficient payroll system in conjunction with HR
Verifying on monthly basis the bank charges debited by banks.
Amortizing the prepayment like rents, advertisement and any other advance payments.
Managing the company General Ledger i.e. Chart of Accounts
Ensuring that debtors are monitored and collections are consistent with set company time frames.
In conjunction with Directors sourcing and identifying financial providers.
Collating all relevant information to produce end of year statutory accounts for the company.
Ensuring that end-of-year statutory accounts and report are finalized by specified date and presented to Directors for review.
Managing Petty Cash payments and re-imbursement system.

Budgeting / Forecasting & Reporting

Coordinating and preparing annual budgets, including operating and capital expenditure budgets, ensuring the accurate preparation / reporting of monthly financial results
Providing assistance / direction to managers with regards to the preparation of budgets.
Ensure any variations to budgets and forecasts are explained in management reports, including any future / potential exposures to the organization.
To prepare “budget reports” on an annual basis for review by Directors.
On a monthly basis, track and review expenditure against set budgets providing
Directors with a “budget inconsistencies report”.
In conjunction with the Managing Director, ensure that business cash flow adequately supports company work activities and produces optimal results.
Ensure approved capital expenditure budgets are adhered to at all times.

Asset Management:

Ensuring all company assets are monitored, insured and accounted for.
Ensuring company motor vehicles and property are effectively managed.
Ensuring timely capitalization and disposal of Fixed Assets in line with company policy.
Ensuring accurate depreciation is charged to P & L monthly. 4.9 Ensuring proper tagging of Fixed Assets.
Ensuring Tax Acceptance Certificate is obtained from relevant authority for capital allowance purposes where applicable.
Ensuring the fixed assets register is managed and maintained with strict adherence to “fixed assets register procedure.”
On a monthly basis ensuring the general ledger is reconciled to the assets register
Preparing on the monthly basis the Fixed Assets Movement Schedules.

Regulations & Statutory Compliance:

Ensuring there is proper documentation and annual reconciliation of gross wages, payroll tax and workers compensation against general ledger.
Collecting and collating all necessary documentation in readiness and preparation of company income tax returns.
Ensuring prompt remittance of pension contribution deducted.
Assisting in formulating and implementing policy on Corporate Governance.
On an ongoing basis, reviewing company expenditure to ensure compliance with Loan Covenants with banks, reporting violation immediately to the MD.

People Management:

Providing leadership direction for the Finance teams.
Making self-available as coach / mentor in assisting my team to develop in their positions.
When needs arise, involving in relevant personnel matters including recruitment, termination and counseling.
Completing KPI assessment of direct reports within Company as required from time to time
Any other job that may be assigned by the MD any time.
Being a company ambassador to bring business and project the company image in positive light.
Ensuring that relevant information is communicated to my team enabling them to effectively carry out their functions.
Delegating tasks to my team in line with skill, knowledge and ability and where necessary identifying skill gaps and training requirements.

Key Job Attributes Generic: