1 month ago

Job Summary

Responsible for the effective running of all support areas, i.e. Finance and Accounts, ensuring that the company meets its financial and compliance obligations for all its stakeholders.

  • Minimum Qualification:Bachelor
  • Experience Level:Senior level
  • Experience Length:5 years

Job Description/Requirements

Department: Finance

Reports: Managing Director 

Direct Reports: Finance Team


Job Summary:

Responsible for the effective running of all support areas, i.e. Finance and Accounts, ensuring that the company meets its financial and compliance obligations for all its stakeholders. As a member of the Management team, contributes to strategic and operational planning and oversight, and where required, leads project initiatives and teams. 


Key Responsibilities:

Financial Reporting and Systems 

  • Responsible for the financial & management reporting processes, ensuring the availability of timely and relevant information on monthly, quarterly basis. 
  • Responsible for the effective management of internal controls and the operation and effectiveness of all processing, including the payroll & accounting systems, and ensuring that all expenses are as per the approved authorization framework.
  • Responsible for leading the development and review of annual financial plans, budgets & targets with other departments. 
  • Review accounting system and procedures including financial policies and make recommendations based on standard industry practice.
  • Oversee department operations through setting goals & objectives, and design a framework for these to be met.
  • Develop an effective system of internal control to achieve a high level of efficiency in accounts management.
  • Build an accounting system that will bring down distribution/operational costs to a minimum level, and that will detect spillovers, wastage, and fraud.
  • Develop an effective reporting system that ensures accurate and timely daily, weekly, monthly, quarterly and annual reports.
  • Guide all other heads of department on optimum utilization of the company’s financial resources and cost management.
  • Management of relationships with the external auditors, including being the key contact for audit planning and completion. 
  • Engage with external auditors for the execution of external audits.


BUDGETING

  • Review the budgeting & budgetary control systems and report to management on variances from the established budget and the reason to the cause.
  • Analyze costs, pricing, variable contributions, sales results and the company’s actual performance.
  • Assist management on the formulation of its overall strategic direction.
  • Ensure a good internal control environment in the inventory control, costing, pricing budget control and data integrity.


FUNDS MANAGEMENT

  • Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements.
  • Forecast cash flow positions, related borrowing needs, and funds for investments
  • Maintain the financial health of the organization.
  • Use hedging to mitigate financial risks related to the interest rates on the company’s borrowing.
  • Reconcile the loan accounts for compliance of the terms of engagement
  • Review bank reconciliation statement.
  • Review all payable and receivable accounts.
  • Liaise with other function managers to align the finances and accounts 
  • Insurance management.
  • Ensure timely invoicing of clients and payment follow-up.


TAX MANAGEMENT

  • Together with the tax consultant develop a tax planning system which can lower the company’s tax liability to the minimum level.
  • Timely returns to zero penalties.
  • Management of other statutory obligations like NSSF, PAYE, trading license, local service tax, and Updating annual returns at the company registry.


FINANCIAL ANALYSIS

  • Oversee cost management/analysis in all departments.
  • Conduct reviews and evaluations for cost reduction opportunities.
  • Interpret the company’s financial results and recommend improvement activities.


Key Performance Measures 

  • Finance Reporting and systems 
  • Budgeting 
  • Funds Management 
  • Tax Management
  • Financial Analysis 
  • Departmental / Team Management 
  • Important Relationships
  • Auditors
  • Bankers 
  • Regulation Bodies
  • Vendors and Suppliers
  • Internal staff, Managing Directors and Board
  • Knowledge, experience and personal competencies:
  • Knowledge required (to do the job):
  • Fully qualified accountant (ACCA or CPA or equivalent).
  • Bachelors in Commerce/Business Administration degree
  • Experience required (to do the job):
  • Minimum of five years’ general management experience in the areas of Finance reflecting the key duties of this role. 


Competencies:

  • Membership of the Institute of Certified Public Accountants of Uganda (ICPAU). 
  • Be highly skilled in the use of Microsoft Office applications. 
  • Have excellent written and verbal communication skills. 
  • Ability to prioritise workloads and be capable of managing a broad range of areas. 
  • Have sound judgement and a capacity for innovative thinking. 
  • Be enthusiastic and motivated. 
  • Working knowledge of an accounting package, preferably QuickBooks


How to Apply:

All candidates should send their updated CVs and application letters through Brightermonday Portal by Clicking on the 'Apply Now ' section



 


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