Associate/ Vice President, Financial Controls & Budgets

Job Description

Job Summary
  • Assist in maintaining the integrity of the Corporation’s financial and accounting processes through the exercise of appropriate monitoring and control over the Corporation’s business processes.
  • Work with the Financial Controller to implement a robust financial control, budget and budgetary control framework for the Corporation. Ensure the Corporations accounting procedures conform to International Financial Reporting Standards (IFRS) framework.
  • Responsible for the implementation of, best in class internal financial control processes and procedures around all the operations of the Corporation. Has primary responsibility for monitoring compliance with all the borrowing covenants involving the Corporation.
  • Support the Financial Controller in ensuring that appropriate financial management and control processes are in place which can be achieved through close working relationships with the various Strategic Business Units (SBUs) and Strategic Resource Units (SRUs).
Principal Duties & Responsibilities
  • Be directly involved in the end-to-end preparation of the annual Operating Plan and Budget across functions and departments.
  • Design and continuously evaluate the budget and planning framework for the Corporation
  • Effectively apply the budgetary control process to drive cost savings for the Corporation.
  • Responsible for independent computation and monitoring of the various financial covenants as entered by the Corporation, as part of its obligations to its lenders and raising amber and red flags as may be necessary
  • Responsible for the end-to-end audit of the Corporation’s financial covenants by external auditors
  • Responsible for the timely submission of the quarterly, semi-annual and annual financial covenants computation (audited and unaudited) and other information covenants to AFCs lenders
  • Responsible for financial statements preparation for the Corporation
  • Assist in the organization and preparation of the monthly Business Performance Reviews
  • (BPR)
  • Assist in the formulation, periodic review/update and implementation of sound financial policy framework and controls as may be required
  • Ensure the adherence to all controls put in place to eliminate/minimize operational risk and fraud.
  • Ensure adequate controls and procedures are complied with in the payment process with the view to ensuring that minimal issues are raised during the audit process. Ensure payments are made only when requests have been duly approved in line with the Corporation’s Expense Policy, Procurement Polices (if applicable), and the Corporation’s Staff handbook polices for staff-related payments. Also ensure that adequate approvals are in place in cases of exceptions to the relevant policies.
  • Monitor staff cash advances/corporate credit card utilizations to ensure they are retired promptly, and when not retired early, ensure recovery through staff payroll as may be relevant.
  • Develop and implement capital and project expenditure tracking mechanism in line with business plan and financial guidelines
  • Drive the periodic review of the Corporation’s expense policy and ensuring its alignment to board and management’s decisions.
  • Conduct a quarterly integrity check of the Corporation’s financial books/position and recommend any adjustments required to ensure effective controls.
  • Assist the Financial Controller in the review of all financial and accounting processes/procedures and ensure that they follow best practice, are in line with IFRS principles and are consistent across all transactions and activities.
  • Act as the substantive Financial Controller for all subsidiaries of the Corporation.
  • Act at the audit liaison officer for external audits for the Corporation
  • Assist the Financial Controller in liaising with all relevant internal and external stakeholders by providing all relevant financial information.
  • Perform other duties as delegated by the Financial Controller as well as the Chief Financial Officer
 
Key Performance Indicators
  • Quality of business and financial planning
  • Effectiveness of financial control policies

Personal Specification

Competency and Skill Requirements
  • In-depth knowledge of financial control and business planning
  • Excellent knowledge of Accounting/ financial analysis
  • Very good financial and management reporting skills
  • Highly numerate with excellent analytical skills
  • Ability to produce high quality output under pressure and sometimes with inadequate resources
  • High proficiency in the use of the Microsoft Office Suite especially Microsoft Excel & PowerPoint
  • Good Interpersonal skills required in liaising with people at different levels within the Corporation.
  • High level of attention to detail
  • High level of integrity and ability to maintain confidentiality.
  • In-depth knowledge and appreciation of the financial service industry’s regulatory and statutory requirements and specifications
  • Ability to manage multiple tasks simultaneously and efficiently
  • Global mindset and appreciation of global issues in financial services
  • Superior business communication skills
  • Strong professional ethics, accountability and dependability
Minimum Qualifications
  • 10-15 years’ experience in Financial Control and planning of an international Financial Institution using either IFRS or US GAAP is of high importance.
  • In-depth knowledge and understanding of the International Financial Reporting Standards (IFRS).
  • Excellent knowledge of best practices in finance and business
  • Good working knowledge of SAP
  • Excellent communication and presentation skills.
  • Relevant advanced degree e.g. Masters Degree in Finance, Business Administration, or a related field.
  • Appropriate financial certification such as ACA, ACCA, CPA, CFA, etc is desirable.
  • Relevant experience and understanding of infrastructure development issues, infrastructure finance, project development and private equity.

Employer

Sector

Banking & Finance

Function

Finance

Country

Job Level

Associate

Salary

Competitive