Job Title: Chief Financial Officer (CFO)
Job Purpose: The Chief Financial Officer (CFO) is responsible for overseeing all financial operations and providing strategic direction in financial management. The CFO ensures the efficient implementation of financial policies and procedures.
Key Responsibilities:
Strategic and Operational Financial Management
Develop, implement, and maintain financial policies, procedures, and standard operating guidelines.
Provide strategic direction in financial management and support the organization's strategic planning processes.
Analyze financial performance and make recommendations for improving efficiency and effectiveness.
Compile and present monthly management reports, including financial board packs, to the CEO and board.
Ensure full compliance with all relevant legislation, policies, and financial guidelines.
Financial Policies and Control
Develop and review finance policies for CEO input and board approval.
Manage the execution of financial policies across the organization.
Administer bank accounts and oversee the budgeting process, including execution and control of the budget.
Oversee the preparation of financial statements and ensure their accuracy.
Advise department heads on budgeting, financial analysis, reporting, and cash management, per CEO delegation.
Ensure timely settlement of contractual obligations and payments.
Authorize expenditure within delegated authority levels and ensure compliance with financial limits.
Financial Reporting
Lead and manage the organization's financial reporting framework.
Prepare quarterly and annual financial statements for submission to the CEO and board in compliance with financial norms and standards.
Oversee the distribution of monthly management reports to all relevant business units.
Ensure accurate and timely accounting and financial reporting, including budget forecasts and variance analysis.
Monitor budget performance and inform the CEO of any unauthorized expenditure or variances.
Payroll Management
Lead and supervise payroll operations, ensuring compliance with statutory regulations.
Review and approve payroll-related statutory returns and financial deductions.
Ensure accurate implementation of payroll acts and regulations.
Monitor high-level payroll controls, including the reconciliation of the general ledger and payroll exception reports.
Banking and Cash Management
Oversee the establishment of banking systems, procedures, and processes to ensure effective cash management.
Manage the preparation of cash flow forecasts and determine cash resource requirements.
Ensure timely bank reconciliations and clearance of outstanding items.
Provide regular reports on cash management performance and ensure adherence to authorized delegation levels.
Budget Management
Lead and coordinate the annual budgeting process in alignment with the organization's strategic goals.
Provide guidelines for business planning and ensure that the budget process is consistent with the strategic plan.
Prepare the annual consolidated budget and present it to the board of directors.
Oversee timely budgeting, monitoring, variance analysis, and financial reporting.
Procurement
Develop and review procurement policies for board approval and ensure compliance with procurement regulations.
Oversee procurement planning and ensure timely specification development and adherence to procurement processes.
Qualifications and Experience:
Bachelor's degree in Accounting, Finance, or a related field (Master's degree preferred).
Chartered Accountant (CA) or equivalent professional qualification.
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