SCOPE OF POSITION
The Chief Financial Officer (CFO) is responsible for the financial management of the organization, including effective risk management of liabilities and investments, cost containment, ensuring cash flow is appropriate for the organization’s operations, preparation of current and forecasting reports and to ensure compliance with the law and company policies. The CFO manages the operations of the Accounts Department and supervises the accounting staff in their day-to-day functions. The incumbent is also responsible for a large variety of accountancy services including, fundraising, capital expenditure, budgeting, financial forecasting, auditing financial records, investigating financial anomalies, maintaining the accounting system and contributing to business strategy.
MAJOR DUTIES AND RESPONSIBILITIES
- Prepare financial statements, business plans, financial reports and budgets for management and the Board of Directors.
- Perform regular audits, involving the examination of the company’s accounts, analysing risk, inspecting the company’s current practices.
- Investigate any financial irregularities and provide recommendations for improvements.
- Reviewing, implementing and adapting new and existing financial systems and controls
- Produce and analyse annual and regular financial reports, as and when they are needed.
- Advising managers on financial policy and control.
- Ensure compliance with tax legislation.
- Review and prepare accounting policies and procedures.
- Control of the company’s expenditure and strategy for cost containment.
- Cash flow analysis and management.
- Advising Management and the Board of Directors on strategic direction.
- Perform any other duties as may be assigned.
PERFORMANCE CRITERIA
The job is executed in a satisfactory manner when:
- System and practices enjoy high integrity.
- Favorable external auditors report.
- Financially sound and expanding Lab.
- Short and long-term objectives are achieved and policy decisions in the area of responsibility are effectively implemented.
- Timely and accurate preparation and presentation of financial reports including annual financial statements.
- Effective management of financial resources.
- Expenditures kept within budgetary allocations.
WORKING ENVIRONMENT/CONDITIONS
- Work is performed in an office environment during regular work hours, but may require evening and/or weekend hours to meet deadlines.
- Position requires reaching, bending, stooping, and handling objects with hands and/or fingers, talking and/or hearing, and seeing.
- Occasional travel required out-of-office to attend meetings, seminars, and conferences.
MINIMUM QUALIFICATIONS AND EXPERIENCE
- ACCA Level 3 or CPA
- Bachelor’s degree in Finance/Accounting or its equivalent
- MBA is highly desirable
- Minimum of five (5) years’ experience as a Chief Financial Controller or similar position
- Working knowledge of relevant legislation, such as Labour Laws, income Tax Act, etc.
KNOWLEDGE, SKILLS AND ABILITIES
- In-depth working knowledge and experience in auditing and accounting functions.
- Proficiency with accounting and inventory computer applications in particular accounting software eg. Microsoft Dynamics GP (Great Plains).
- Highly developed analytical, decision-making, leadership, critical thinking and problem-solving skills.
- Ability to think “outside the box’ and apply creative and constructive thinking to strategic direction and internal processes and procedures.
- Strong written and verbal communication skills.
- Leaderships skills with the ability to delegate, motivate and inspire team members.
- Effective time management skills.
- Excellent interpersonal and customer service skills.
- Flexibility and versatility to operate in a demanding environment.
- High level of professionalism and confidentiality.