Job Description
Responsibilities
Effective Support to the finance function:
• Supporting all financing transactions by compiling and tracking requests from prospective financiers
• Assisting in the preparation of management account on or before workday 14 of every month.
• Providing accurate analysis to aid better decision making.
• Provide advance receipt/down payment schedule from customers and status on each assigned customer monthly
• Responsible for foreign payments
• Ensure accurate posting into the correct GL A/C code of payables vouchers with proper and sufficient description.
• Ensure all postings initiated in SAP have records that are traceable and retrievable within 30 minutes of request.
• Account reconciliation o Monthly reconciliation of advance payments, interest payables, salary and wages, loan s schedules, etc. with trade payables
Financial Control and Reporting:
• Preparation of weekly bank reconciliations of all Naira denominated bank accounts o Preparation of advance payments schedules that agrees to GL o Preparation of loan schedules that agrees to GL
• Preparation of consolidated payroll schedules that agree to GL
• Ensure all accruals are booked and monitored monthly before workday 7 of the new month.
• Ensure all foreign loans are translated at the prevailing closing rates every month o Ensure role is ready for external audit 30 days after year end. o Provisions for OPEX accruals, PAYEE, VAT and WHT on a monthly basis o Preparation of trade payable schedules that agrees to GL
• Preparation of Investors’s preference shares schedules and unwinding of transaction cost monthly.
• Preparation and tracking of intercompany receivables account regularly
• Ensure all foreign payables are translated at prevailing closing rates every month Ensuring that all agreed audit journals are passed on SAP and SAP agrees with audited TB within 1 week after the end of audit.
• Fixed asset management o Maintain an updated FA register outside SAP and update monthly FA schedule
• Reconcile financial Information on FA register Cost, Deprecation, Accumulated depreciation and NBV to GL in SAP within workday 7
• Depreciation running on SAP before workday 5 of the next month. o Ensure all additions, disposals and impaired assets are updated in SAP.
• Ensure all assets are tagged and maintain numbering database
Delivering on improving cashflow/liquidity:
• Advising financial institutions on liquidation, maintain liquidation track sheet o Performing analysis of loan repayment to FBN, ZBN, FSDH etc.
• Providing finance department inputs for 12 weeks cash flow forecasts o Providing finance department input for weekly management report and yearly budget.
Prepayment:
• Accurately prepare monthly prepayment schedules which agrees to TB. o Ensure monthly prepayment schedule is ready within 5 days after month end with zero error
• Ensure all recurring run of prepayment transactions monthly without exception before workday 7 of the new month
• Ensure the balance on the prepayment schedule agrees with the balance on prepaid expenses on SAP monthly
Regulatory Compliance:
• Provision of schedules during tax audit FIRS and LIRS o Provision of documentations requested by tax authorities
• Filing of annual tax returns Assisting in coordination of Tax Audit and providing support to the tax function.
• Preparing schedule of WHT, VAT, PAYE and other taxes.
• Ensure all regulatory payments are in the cash flow and settled when due [PAYE, CIT, Pension, WHT, VAT, Customs duties] etc.
• Ensure all WHT credit notes from customers are updated on Tax Pro Max o Compile database of contacts in tax units of the FIRS and relevant state tax offices o Filing of VAT and WHT returns on or before 21st of every month on Tax Pro Max o Provision of VAT and WHT supporting documents during audit o Ensure all regulatory filings are affected in line with statutory provisions- VAT & WHT o Demonstrate working and current knowledge of regulations as it affects roles.
Treasury and accounts payable functions:
• Responsible for payables accounting company wide o Ensure all vendors exist in SAP. o Responsible for all payments Foreign and local.
• Ensure all payable related transactions generated are uploaded into SAP within 48 hrs. after receiving the information/documentation.
• Ensure all payables local are captured and posted into SAP
• Provide accurate payables ageing report with schedule from SAP on monthly basis at workday 7 of every new month.
• Key supplier statements reconciled at the end of every month
Managing Corporate Performance:
• Maintaining an updated loan tracker showing status of disbursements and repayments.
• Maintaining an accurate interest expense schedule
• Ensure all loans are tracked, exist in SAP and evidence of interest re-computation with bank charges available monthly.
• Ensure accurate loan and interest schedules are maintained and agrees to the GL, monthly
• Posting of all loan related activities on SAP FBN and other loans
Budgetary control and variance analysis:
• Ensure that all expenditure or request for payment are budgeted for
• Support the Finance Manager in the preparation of the monthly departmental performance review
• Ensure that actual cost s are posted into the right account where it was budgeted for
• Support the Finance Manager In the monthly review of project cost vis-à-vis the P/L
• Track actual project-related cost vs project P&L and report each week.
Payroll management:
• Processing of payroll for payment
• Accurate payroll computation and pay run before the end of each month.
• Ensure GL is reconciled to payroll schedule every month and provide evidence.
• Maintaining payroll schedule
• Maintaining EXCO’s IOU schedule.
Person Specification / Required Competencies
• A good university Degree in Accounting / Finance or related discipline
• Minimum of 5 years professional experience
• ICAN/ACCA certification is mandatory
• Knowledge of IFRS
• Good knowledge of accounting ERP e.g. SAP
• Very sound accounting skills
• Use of Microsoft Excel at an advanced level
• Treasury & funds management
• Taxation
• Negotiation
• Oral & written communication
• Knowledge of upstream Oil and Gas transactions is an added advantage.
