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

Deadline: 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.