Finance Manager

Our client, a leading SME is currently seeking a highly capable and experienced Finance Manager. The Finance Manager will play a critical role in overseeing key financial functions such as inventory control, credit control, billing cycle management, cash management, people management, management reporting, expenses management, internal controls, data analytics, and strategic planning.

1. Purpose of the Job:

As the Finance Manager, you will lead and manage financial operations to ensure the efficiency, accuracy, and integrity of our financial processes. Your responsibilities will span across critical areas, including inventory and credit control, billing cycle management, cash management, team leadership, management reporting, expenses management, internal controls, data analytics, and strategic planning. The primary objective is to contribute to the financial well-being and strategic growth of the company.

2. Role and Responsibilities:

Inventory Control:

1. Implement and enhance inventory control systems, leveraging technology for real-time tracking.
2. Conduct regular physical audits to ensure inventory accuracy and compliance with established policies.
3. Collaborate with procurement and sales teams to forecast demand and optimize stock levels.
4. Implement risk mitigation strategies for inventory losses and obsolescence.
5. Evaluate and recommend improvements to streamline the supply chain and reduce holding costs.

Credit Control:

1. Develop, document, and implement credit control policies and procedures.
2. Utilize credit scoring models and conduct regular assessments of customer credit profiles.
3. Establish and monitor credit limits for customers, ensuring alignment with risk tolerance.
4. Implement proactive communication strategies to address payment delays and reduce bad debt.
5. Collaborate with the sales team to review credit terms and conditions, balancing risk and revenue goals.

Billing Cycle Management:

1. Oversee the billing process, ensuring accuracy, timeliness, and adherence to regulatory requirements.
2. Develop and implement automated billing systems to enhance efficiency.
3. Conduct regular reviews of billing discrepancies and implement corrective measures.
4. Streamline invoicing processes to improve cash flow and reduce billing errors.
5. Collaborate with IT and operations teams to integrate billing systems with other organizational functions.

Cash Management:

1. Implement effective cash flow forecasting models to ensure liquidity for operational needs.
2. Monitor and reconcile daily bank statements, identifying discrepancies promptly.
3. Establish cash management protocols to optimize working capital and reduce idle funds.
4. Evaluate and recommend investment strategies for surplus cash.
5. Implement a robust system for managing short-term and long-term cash needs.

Expenses Management:

1. Monitor and control expenses to ensure alignment with budgetary constraints.
2. Implement expense control guidelines and conduct regular reviews.
3. Analyze cost structures and recommend cost-saving measures without compromising quality.
4. Collaborate with department heads to develop realistic budgets and ensure adherence.
5. Provide training to department heads on effective expense management practices.

Management Reporting:

1. Prepare and present accurate and insightful financial reports to support strategic decision-making.
2. Develop customized dashboards for executive leadership to visualize key financial metrics.
3. Provide variance analysis and commentary on financial performance.
4. Collaborate with department heads to ensure alignment between financial reports and operational goals.
5. Implement continuous improvement initiatives in reporting processes for increased efficiency.

Internal Controls:

1. Implement, and maintain robust internal control procedures.
2. Conduct regular risk assessments to identify potential areas of control weakness.
3. Document and update internal control policies and procedures as needed.
4. Collaborate with internal and external auditors to facilitate audits and address findings.
5. Establish a culture of compliance and ethics within the finance team.
6. Implement a system for continuous monitoring and improvement of internal controls.

Data Analytics:

1. Utilize data analytics tools to derive meaningful insights into financial performance.
2. Conduct trend analysis to identify opportunities and risks within the financial data.
3. Provide recommendations for process improvements based on data-driven insights.
4. Collaborate with IT teams to enhance data analytics capabilities.
5. Develop and present data analytics reports to support strategic decision-making.

Strategic Planning:

1. Contribute to the development and execution of strategic financial plans.
2. Conduct financial modeling and scenario analysis to support strategic decision-making.
3. Collaborate with senior management in defining financial goals aligned with overall company objectives.
4. Evaluate and recommend financial strategies to support business growth and mitigate risks.

Core Competences:

1. Strong understanding of inventory management, credit control, billing processes, and cash management.
2. Exceptional leadership and people management skills.
3. Advanced analytical and problem-solving abilities.
4. Effective communication and presentation skills.
5. Strategic thinking and planning.
6. Proficiency in financial analysis, reporting, and data analytics.
7. Detail-oriented with a focus on accuracy.
8. Ability to work under pressure and meet tight deadlines.

Knowledge, Experience, and Skills Required:

1. Bachelor’s degree in Finance, Accounting, Business Management, or related field.
2. Professional qualification such as CPA or CFA is preferred.
3. Minimum of 8 years of relevant work experience in inventory control, credit management, billing processes, and cash flow management.
4. Strong proficiency in financial software and data analytics tools.
5. Advanced skills in Microsoft Excel.

How to Apply:

Interested candidates should submit their resume and a cover letter outlining their relevant experience and qualifications. The deadline for applications is 6th February 2024.