Finance Manager at VFD Tech Limited


VFD Tech, a subsidiary of VFD Group Plc, is recruiting suitably qualified candidates to fill the position below:

Job Title: Finance Manager

Location: Lagos
Employment Type: Full-time
Department: Finance (VFD Tech)

Job Summary

  • Responsible for accurate financial reporting, management accounting, and finance activities of VFD Tech that support the achievement of the Company’s objectives.

Reporting Relationships:

  • Report to: ED, Finance
  • Supervises: To be determined

Key Task

  • Financial / Management reporting
  • Budget and budgetary control
  • Performance Management
  • Tax management
  • Data analytics

Strategic Tasks:

  • To ensure timely preparation of financial information which provides a complete and accurate picture of VFD Tech’s financial position
  • To co-ordinate the analysis and synthesis of VFD Tech’s financial and non-financial information, which provides a basis for sound business decisions by executive management
  • To protect VFD Tech’s interest by ensuring that relevant statutory or regulatory reports/returns regarding VFD Tech’s financial affairs are generated on a timely basis.

Timelines:

  • Monthly management account on or before the 3rd day of the new month
  • Weekly management report to be sent before 8:00am on Mondays
  • Remittance of PAYE and pension on or before 7th of the new month
  • WHT and VAT remittance on or before 20th of the new month
  • Filing of CIT returns and CAC returns on or before 28 June
  • Submission of audited financial statement by 28 February, annually
  • Weekly variance analysis of business performance
  • Weekly reporting on operational metrics and data analytics

Operational Responsibilities:

  • Implementation of VFD Tech’s goals, objectives, policies and operating procedure.
  • Actively contribute to the implementation of VFD Tech’s corporate strategy
  • Identify, communicate and monitor critical interdependencies across the business sectors and forge effective organizational linkage to ensure a concerted/seamless implementation of the Group’s overall business strategy
  • Daily evaluation of business performance via data analytics

Financial / Management Reporting:

  • Ensure integrity and accuracy of accounting records by performing daily reconciliations
  • Ensure timely reporting of Financial / management accounts of all the entities latest by the 3rd of every month.
  • Execution of month-end procedures and process
  • Implementation of the accounting software
  • Research technical accounting issues for compliance
  • Monitoring and enforcing internal controls over financial transactions and financial reporting.

Budget and Budgetary Control:

  • Engages all stakeholders in the preparation of the business’ budgeting and budgetary control document to achieve the agreed corporate objectives
  • Monitors the implementation of budgetary mechanisms to proactively identify and manage budget / performance variances by the business sectors
  • Tracks and reports on the implement robust cost optimisation strategies to monitor and control cost for the asset management business
  • Periodically review key the Business activity and performance reports and makes recommendations to the CFO and the Board.

Performance Management:

  • Ensure key business performance analyses and reports are generated and circulated to the product managers and business development team
  • Monitoring of performance for the business and staff
  • Suggest strategic guidance where necessary

Tax Management:

  • Ensures compliance with local, state and federal government reporting requirements and tax filings.
  • Supervise the asset management finance team to ensure complete documentation of relevant supports and proof of tax remittance
  • Develop and maintain relationships with appropriate personnel in relevant tax authorities
  • Researches on future legislation that impacts taxation and operations, including future risks
  • Ensure 100% remittance of all tax and statutory obligations

Others:

  • Create, coordinate and evaluate financial programs and supporting information system for the company to include budgeting, tax planning, and conservation of assets
  • Initiate and facilitate finance meetings to define and agree on targets and work plans, consistent with the business’ strategy and plans
  • Participate in the recruitment, selection, training, professional development, and performance evaluation of staff in line with the Company’s Human Capital policies
  • Serve on committees or cross-functional teams and perform other duties as assigned by the CFO or the Board

Key Performance Indicators (KPI)
Financial Target (Non-Core):

  • Achievement of at least 75%-80% of business targets in FX, FDs, Loans, Mutual Funds, Cross-Selling and Special Products

KPI: 90 Day Deliverables:

  • Developing robust template for monitoring operational metrics for various products especially Vbank app. This is to be presented at weekly MANCO meetings
  • Deploy effective structure for preparation of daily reconciliations for bank statements and intercompany balances.
  • Automation of data gathering process for budget preparation and monitoring.
  • Implementation of automated budget and cot control system for the company.

KPI: Non-Financial:

  • 80% accuracy in cash-flow estimates
  • 80% accuracy of average budget variances – Actual vs. Plan
  • 80% accuracy of variances in expense accounts- Actual vs. Plan
  • 100% performance in external audit examinations
  • Zero non-compliant cases raised by the regulatory bodies
  • Quality of financial advice provided to the company
  • Accuracy and timeliness of management information and reports
  • Internal customer satisfaction levels

Job Requirements

  • Candidates should possess a Bachelor’s degree with 5-8 years work experience

Core Skills:

  • In-depth understanding of the organization’s business.
  • Good communication skills.
  • Attention to details.
  • Good Management abilities.
  • Knowledge of GAAP/ IFRS
  • Knowledge of finance, accounting, budgeting, and cost control principles
  • Ability to analyze financial data and prepare financial reports, statements, and projections
  • Excellent communication & presentation skills
  • Negotiation
  • Working knowledge of Microsoft Office Suite and other relevant accounting tools

Application Closing Date
13th November, 2020.

How to Apply
Interested and qualified candidates should send their CV to: careers@vfdgroup.com with the relevant Position applied for as heading.

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