TrueNorth jobs in Uganda
JOB DETAILS:
Job Summary
The role is responsible for overseeing the execution of the financial management activities, development and implementation of financial strategies, implementation of financial management systems, financial reporting, and guiding management in making investment decisions for the company and ensuring that appropriate systems, procedures, and controls are operational and enforced. The position holder will manage operational areas under the rules, regulations, and guidelines of BPIL while ensuring the accomplishment of goals and targets given by Management.
Responsibilities
Devise accurate, realistic, and inclusive company budgets and departmental budgets
• Coordinate the budget preparation and expense management activities for assigned accounts.
• Monitor expenditures, analyze revenues and determine budget variances and
• report the same to management; provide timely advice and explanations on potential over spent to management.
• Coordinate and manage auditing activities by providing necessary information and preparing requested documentations.
• Maximize resources to ensure that optimal value for money is attained for the company.
• Clearly defining income /cost ratio, ensuring budget holders have appropriate finance skills and provide required training.
Treasury, Cash, and Inventory Management
• Manage cash flow, working capital, and liquidity to ensure the company's financial stability.
• They oversee banking relationships, manage debt and financing arrangements, and optimize the use of financial resources.
• Review and approve of bank reconciliation statements for all bank accounts.
• Coordinate the quarterly stock counts, surprise counts and end of year.
• Coordinate and maintain a cash flow management and forecasting system whereby adequate funds are available for business needs.
• Oversee and ensure financial systems and procedures that enable efficient and appropriate use of financial systems.
• Monitor and record financial transactions according to company policies and regulations.
• Development and review of accounting and financials polices procedures.
• Approve payments within allocated Limit and all Payment Vouchers.
• Ensure that changes in legislation or company structure are reflected without
• delays in internal controls and systems.
• Provide technical staff relevant trainings to ensure understanding and compliance with financial policies.
Reporting
• Generate accurate and timely Management Accounts to the Shareholders, Board and Management monthly and Quarterly basis.
• Continuous development of reporting dashboards to improve reporting for the Heads of Departments to support their reporting needs.
• Ensure preparation of accurate and timely sales and finance reports (weekly/monthly) to the Exco team.
• Prepare financial reports in line with financial reporting requirements and standards.
• Ensure month-end accounting activities such as reconciliations and journal entries are undertaken on time.
• Review of key account balances i.e. biological assets, Loans, Related parties, Inventory, Leases, etc.
External and Internal Audit
• Coordinate the financial year audit, preparation of statutory accounts and subsequent annual reports for Management.
• Support in the internal audit process.
Financial Management Systems
• Provide support in procurement of the computerized accounting systems through
• evaluation of various suppliers and provide recommendations best applicablesystem.
• Monitor the performance of the financial management system through identification of system challenges and recommendation of system of functions that need improvement.
• Ensure all the finance team member understand and are in position to effectively utilize the financial system.
• Continuous innovation and improvement in technology and development of dashboards that can improve reporting for different sections of the business.
Financial Analysis Process
• Perform financial analysis and reporting to management as needed.
• Analyze financial discrepancies and variances from all reconciliations and recommend effective resolutions.
Management Information
• Respond to accounting inquiries from management in a timely fashion.
• Respond to all queries from external stakeholders i.e. bankers, shareholders, etc. on finance related issues.
• Participate in all strategic and management meetings and provide the required financial analysis or information.
Leading a continuous developing and improving team
• Supervision and coordination of the finance teams (Payables, Stock and Sales) to complete the assigned tasks within the set deadlines.
• Provide guidance and support to the accountants when needed.
• Conduct regular performance appraisals, monitoring progress and setting objectives.
• Review the roles and responsibilities of the finance departments to ensure needs
• and demands of the company; and efficient, effective, and flexible structures is
• desirable for the company.
Success Measures
• Balanced and complete business budget
• Successful annual and internal audit process
• Effective budgets and cash flow management
• Evidence of value for money in all business expenditures
• Timely and accurate posting of financials to NAV system
• Financial transactions adhere to company policies and procedures.
• Adequate funding of company’s activities and accurate projections/reports to management
• Account balances are timely reviewed.
• Reduction in reclassification
• Timely completion of accounting activities e.g. reconciliations and journal entries
• Full compliance and statutory regulations
• Accurate and detailed monthly management report approved by CFO.
• Debtors and Creditors managed effectively.
• Full compliance with statutory regulations
• General reports and statements are presented and discussed with line manager timely.
• Financial reports are prepared timely and presented to the board.
• Timely and accurate Weekly/Monthly sales reports
• Timely and accurate Weekly/Monthly stock/inventory reports
• An efficient and effective computerized accounting system in place
• Finance team is well trained and can effectively use the accounting system.
• Reconciliations are analyzed and solutions to discrepancies are suggested and implemented.
• Timely response to management and external shareholders
• Annual team objectives achieved.
• Annual performance review of each line report
Education & Training
• Bachelor of Commerce, Business Administration (Accounting/Finance)
• ACCA, CPA
Skills & Experience
• Minimum 5 -6 years’ experience in similar role in a commercial busy environment
• Knowledge in computer applications, ERPs (i.e. Navision)
• Communication and interpersonal skills
• Good management skills
• Decision making skills.
• Leadership skills
• Good presentation skills
Attitude/Motivation
• Value adding (willingness to go an extra mile for BPIL, staff & customers).
• Kindness (enthusiasm, passion, and encouragement to all).
• Strong commitment to the goal and vision of BPIL.
• Result driven
Work Hours: 8
Experience in Months: 60
Level of Education: Bachelor Degree
Job application procedure
You can apply by submitting your cover letter and CV to truenorthafrica.com>exechire
truenorthafrica.com with subject line Finance Manager Reporting by 12th May 2024
All application documents Must be in either PDF or MS. Word.
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