Chief Financial Officer- Secondary Educational Services
- Location: Lagos, Nigeria
- Date Posted: 22-Mar-2018
Our client is a privately owned educational facility offering secondary educational services to its students. In line with its desire to ensure that strategic roles are filled by best-in-class talent with the requisite experience and desired attributes, our Client seeks to recruit an experienced and motivated individual to fill the role of Chief Financial Officer.
Detailed Job Description:
The Chief Financial Officer will have operational responsibility for all financial matters of the School covering financial management, accounting, treasury, reporting & budgeting etc. The CFO is expected to ensure adequate controls exist to safeguard the financial and other assets of the School. The ideal candidate will be expected to have perform the following responsibilities:
· Banking and Treasury Function:
o Profitable investment of excess funds
o Ensuring the school’s compliance with all banking requirements to facilitate smooth operation of its accounts
o Monitoring the appropriateness of bank charges of all categories across all accounts
o Preparing loan proposals
· Reporting – Board and Board Finance Committee
o Preparing periodic management reports as prescribed by management for review by the board and it’s finance committee
o Advising the board periodically in a timely and structured manner of the status of the school’s finances – including banking positions, creditors and receivables and other assets
o Preparing annual final accounts for presentation to the school’s external auditors
o Acting in an advisory role to the board and the finance committee, by providing on a predetermined periodic basis and on an ad-hoc basis as occasion demands, necessary financial information that will aid decision-making by the board
o Ensuring the implementation of Board and Finance Committee directives regarding financial and other related matters
o Preparation of the school’s annual budget for approval by the board
o Responsibility for effective implementation of the financial budget
o Carrying out periodic budget performance evaluation
o Escalating appropriately any adverse or unforeseen budget performance
· Financial Management
o Put in place strategies to ensure the proper management of working capital (including credit control by keeping receivables to a minimum), and also ensure that the school maintains acceptable operating capital ratios.
o Monitoring and advising on the school’s cash flow position and trend
o Advising on and instituting cost reduction strategies
o Reporting on the school’s business and financial performance
o Ensuring that the school has value for money in purchasing and procurement, and in concert with other relevant functions, ensure that physical assets are maintained in a state to serve the school effectively for their projected lifetimes.
o Ensuring that loan proposals presented to the board are justified and supported by clear and realistic repayment strategies
o The Chief Financial Officer is responsible for all accounting functions including journal postings, maintaining the general ledger, preparation of management and final accounts, billing and invoicing, among other sundry accounts functions.
o Ensure that there is a proper structure in place to record and account for all tangible assets owned by the school.
o Ensuring that the school complies with processes, controls and procedures specified in the Financial Manual and the Administration Operating Manual especially in key capital and operational expenditure areas such as Capital purchases, Projects and Procurement.
o Providing training, support and guidance to staff as required to ensure the capacity is built that will enable adherence to prescribed compliance requirements
o Ensuring that both the Financial Manual and the Administration Operating Manual are updated as required and that they reflect the school’s current needs and operating realities.
· External Relationships
o Maintaining relationships with appropriate external contacts including the school’s bankers, external auditors, and tax authorities.
· Regulatory Matters
o Ensure that the school is compliant with all tax regulatory requirements at Federal and State levels including (Corporate, Staff PAYE, Withholding taxes, VAT and any other relevant taxes and levies), and any payments due are paid over
o Ensure the school makes all required statutory deductions (including Pension) at the appropriate time and that such deductions are immediately paid over to the relevant authorities.
o Supervision of all finance staff
o Providing strategic direction, technical guidance and leadership by example for members of the finance team.
Qualifications and Experience
· First degree in Accounting or related disciplines
· Professional accounting qualification (e.g. ICAN, ACCA, ACA or CPA)
· Minimum of 15 years post qualification experience, with a minimum of 5 years in senior management capacity
· Hands on experience with use of relevant ERP/accounting packages or systems
· Effective leadership, mentoring, coaching, and team-building skills.
· Excellent interpersonal skills with ability to communicate effectively.
· Strong analytical and planning skills.
· High integrity and moral standard.