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Job

Chief Finance Officer

  • Location

    Nairobi, Kenya

  • Sector:

    Retail

  • Job type:

    Permanent

  • Contact:

    Sehar Neky

  • Job ref:

    180

  • Published:

    4 months ago

  • Expiry date:

    2019-02-04

  • Consultant:

    #

Optica was started in 1959 and over the past 60 years has grown to become a market and brand leader in optometry, optical products and services. They have nearly 40 branches in Kenya that distributes optical products from the world’s most renowned manufacturers. They benchmark their performance against best practice and every customer receives the best in quality and value at globally competitive prices.

The Role

Optica is currently looking for an experienced and driven CFO to be responsible for developing and implementing the company’s finance strategy, policies and processes as well as providing leadership to the team. Optica are currently implementing SAP Business One and have a team of 15+ within the Finance and Accounts Department.

Key Responsibilities

  • Develop accounting and costing systems in the group companies and ensure SOPS for accounts are fully implemented.
  • Get the departmental manpower trained to use full potentiality of the Accounting package to promote computerization of the operations in all the group companies.
  • Ensure that the integrity of the Accounting System is maintained all times by enforcing a security control system with only necessary access to authorized personnel.
  • Develop, implement and monitor overall business and financial strategy of the group companies.
  • Will be responsible to develop and implement overall budget of company by closely working with departmental heads subject to approval by management.
  • Manage contractual functions of the company efficiently in a time bound manner.
  • Overall responsible for company insurance, import/export administration, licensing, contracts and agreements, legal areas and activities, corporate level negotiations (e.g. premises, plant, trading, disposals, major supplier/customer/partner relationships (banks) and regulatory bodies’ relationships for the group companies).
  • Liaison with audit companies and the auditors to ensure group companies statutory auditing is done within 2 months from the financial year-end. Individual companies’ statutory obligations are fulfilled within the stipulated time including tax payments.
  • Managing, training and developing the finance and accounts team to perform at their best and to assist with all functions of the finance and accounts department – with a focus on the under mentioned areas. Will need to understand every position and its roles and responsibilities.
  • Keeping track of debtors outstanding and bringing them into agreed credit terms. Debtors where outstanding is above an agreed amount, to escalate to management for guidance.
  • Ensure invoice creation, invoice delivery and reconciliation is done in a timely and consistent manner.
  • Creditor’s management to ensure payment terms are met and strict controls on all outgoing payments.
  • All group companies’ year-end accounts shall be finalized before 15th Jan and the trial balances should be submitted to auditors after the management approval.
  • Manage financial functions prudently. Cash flow for the group companies have to be prepared on monthly basis and ensure the reconciliation of inter-borrowings is done every month end.
  • Monthly Finance Management Information System (MIS) reports-individual companies & group - are submitted to the Management on agreed working day of the following month along with financial analysis as per agreed format. Timely, consistent, accurate reconciliation of all accounts, statements etc.
  • Ensure to manage imports payments and exports receivables as per agreed terms and keep constant communication with the respective companies.
  • Ensure that VAT, Withholding VAT, Withholding Rental Tax, Withholding Income Tax returns are verified and filed in time and stringent follow up to get the refunds on time.
  • Maintain strict inventory control by ensuring transaction wise instant updating and verification for prompt stock assessment and to prepare accurate month end stock report.
  • Ensure maintenance of fixed and movable assets register.
  • Liaise with banks and other institutions to ensure smooth functioning and to ensure proper cash management and investing according to business needs.
  • Petty cash - keep regular check and identify irregular expenses.
  • Drive rigorous control cost by continuous assessing the expenses and unwanted overspend all heads of expenses & timely cost analysis
  • Visit branches at regular intervals to carryout internal auditing and submit management reports.
  • Oversee and guide the Finance & Accounting resources in group companies for ensuring all compliances under the local laws and maintain the standards of governance and reporting system of the Group.
  • Administration of monthly payroll.
  • Other areas as required by the business.

Requirements & Skills

  • Graduate with a Bachelor’s degree in Accounting and Finance or Business Administration.
  • CPA Kenya or any other professional accounting qualifications (e.g. ACCA, CIMA etc.) with 10 years of work experience at a management position.
  • Excellent Financial Management and Analytical skills.
  • Good Interpersonal and Communication Skill, Team player, High Integrity, Ability to work under pressure.
  • Ability to lead is advantageous.
  • Problem Solving skills are advantageous.
  • Retail trade experience is advantageous.
  • On hand experience of working on ERP viz. SAP Business One is advantageous.
  • Fully aware of all advance Microsoft Excel functions for analysis of data.