15 Sep 2021

Finance Manager at Transformco Power Services Ltd

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Job Description


Job Title:  Finance Manager

Job Purpose:  To manage funds in such a manner as to maximize return on investment while minimizing risk, and also ensuring that an adequate control structure is in place over the transfer and expensing of funds. Further, the finance manager engages in financial analysis in such areas as forecasting, budgeting, engaging in cost reduction analysis, and reviewing operational performance and audit.

Key Responsibilities:

  • Prepares asset, liability, and capital account entries by compiling and analyzing account information.
  • Documents financial transactions by entering account information.
  • In charge of debt collecting all finances of the organization in partnership with commercial department.
  • Recommends financial actions by analyzing accounting options.
  • Summarizes current financial status by collecting information; preparing balance sheet, profit and loss statement, and other reports.
  • Substantiates financial transactions by auditing documents.
  • Maintains accounting controls by preparing and recommending policies and procedures.
  • Guides accounting staff by coordinating activities and answering questions.
  • Reconciles financial discrepancies by collecting and analyzing account information.
  • Secures financial information by completing data base backups and maintains financial security by following internal controls.
  • Prepare monthly analysis of cost of goods sold and operational expenses against prior year and budget, providing explanations and business solutions to help mitigate the risks.
  • Implementation of goals, policies, and procedures relating to financial management, budget, accounting, and payroll.
  • Prepares payments by verifying documentation, and requesting disbursements.
  • Answers accounting procedure questions by both the internal and external auditors by researching and interpreting accounting policies and regulations.
  • Complies with international and local financial legal requirements by studying existing and new legislation, enforcing adherence to requirements, and advising management on needed actions.
  • Prepares special financial reports by collecting, analyzing, and summarizing account information and trends.
  • Maintains customer confidence and protects operations by keeping financial information confidential.
  • Maintains professional and technical knowledge by reviewing professional publications; establishing personal networks; participating in professional societies.
  • Accomplishes the result by performing the duty.
  • Contributes to team effort by accomplishing related results as needed.

Funds Management

  • Forecast cash flow positions, related borrowing needs, and available funds for investment
  • Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements
  • Maintain banking relationships
  • Assist in determining the company’s proper capital structure
  • Arrange for debt financing
  • Oversee the extension of credit to customers
  • Prepare monthly management accounts and internal group financial reports
  • Prepare monthly analysis of cost of goods sold and operational expenses against prior year and budget, providing explanations and business solutions to help mitigate the risks.
  • Partner with Commercial and Procurement Team in determining financial impact due to product cost reductions, new product roll out, etc. and prepare periodic forecasts to update management on projected results.
  • Analyze financial performance against key business metrics and document pertinent financial highlights that will enable management to determine progress against budgets.
  • Identify, investigate, and analyze potential operational improvement. As appropriate, based on findings make proposal for operational changes (policy, procedures, processes, etc.)
  • Maintain a safe and clean work environment.
  • Understand and follow company rules and regulations.
  • Perform all other duties as assigned and required.

Budgeting

  • Manage the preparation of the company’s budget
  • Report to management on variances from the established budget, and the reasons for those variances
  • Assist management in the formulation of its overall strategic direction

Financial Analysis

  • Engage in ongoing cost reduction analyses in all areas of the company
  • Review the performance of competitors and report on key issues to management
  • Engage in benchmarking studies to establish areas of potential operational improvement
  • Interpret the company’s financial results to management and recommend improvement activities
  • Review company bottlenecks and recommend changes to improve the overall level of company throughput
  • Participate in target costing activities to create products that meeting predetermined price goals
  • Assist in the determination of product pricing in relation to features offered and competitor pricing
  • Compile key business metrics and report on them to management
  • Assist with the capital budgeting process, based on constraint analysis and discounted cash flow analysis
  • Create additional analyses and reports as requested by management.

Suitable candidates MUST meet the following minimum requirements:

  • Competent with PASTEL.
  • Full Grade 12 Certificate with Six (6) Credits.
  • Full ACCA/CIMA/ZICA or equivalent
  • Minimum 3 years’ proven work experience in financial position. Experience at senior or management level will be an added advantage.
  • Ability to work independently.
  • Attention to detail, Strong numerical skills & analytical skills.
  • Valid driver’s license.

Personal Traits:

  • Excellent communication skills
  • Discreet and flexible
  • Responsible, focused and self–motivated
  • Team mentality and a positive attitude
  • Ability to work under minimal supervision
  • Motivated to work extra hours when necessary.
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Method of Application

Individuals who meet the above requirements should send their cover letter, curriculum vitae with three traceable references, and copies of academic and professional qualifications to [email protected] by COB 17th September, 2021.





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