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Job Description

As a key member of the Executive Management Team, the Chief Financial Officer (CFO) assumes a strategic role in the overall management of the company. The Chief Financial Officer is responsible for planning, implementing, managing, and controlling all financial-related activities of the company and developing the finance organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction; establishing functional objectives in line with organizational objectives.

This includes direct responsibility for accounting, finance, forecasting, budgeting, strategic planning, financial and statutory reporting, cash management, supply chain management, revenue assurance, and credit and collections management together with building a sustainable learning finance organization.

1 - Key Performance AREA (Objective) 

FINANCIAL STRATEGY AND BUSINESS PLANNING 

Key Performance INDICATORS 

1.The CFO leads the formulation of the 18-month Financial Strategy and Business Plan in line with the company Group by:

  1. Analyzing major infrastructure projects and business investments, receiving Departments CAPEX and OPEX requirements from the relevant C-Suite HoD’s with the necessary justifications; assuring that each investment meets with the target financial KPI’s
  2. Creating a Business Case for each project and investment, critically reviewing the justifications, estimating, forecasting, and prioritizing the cash flow and financing required;
  3. Developing the Business Plan (which includes a 1-year and 5-year financial forecasts) and ensuring that the final draft is in line with the Group's expectations; creating, reporting, and managing a monthly and annual Cash Flow plan for the company and each project/investment.
  4. Selling the Business Plan, project Business Cases and project Cash Flow plans to the Group and to the Board for approvals, which highlights the Strategic Intent, business objectives, and/or anticipated changes to the Strategy

2. Maintains awareness of Industry forces and provides support to identify the options available for the organization to be well-positioned to take advantage of them.

3. Aligns the evolving financial short and medium-term goals and objectives for the organization with the Business Plan, and adjusts the plan where necessary (such as market forces); Reviews each Business Case after implementation to assure that they meet their objective; or change objectives as the market changes.

4. Ensures, through the management and application of financial strategies, that the organization achieves target revenues, profitability, cash positions, on schedule and with sustainable practices;

2- Key Performance AREA (Objective): 

 

CORPORATE PERFORMANCE MANAGEMENT

Key Performance INDICATORS 

1              Financial Budget 

  1. Oversees the preparation of the annual and quarterly budgets in line with Group targets and approves these prior to submission to the CEO;
  2. Manages the budget control from the various Line Managers, requests justification on variances or non-adherence to targets, and decides on appropriate action;

                

2              Corporate Reporting

  1. Ensures that Management Accounts (monthly, quarterly and bi-annual) are prepared and circulated to Exco in compliance with the organization and LT Group Financial Management Accounting Policy and latest IFRS standards.

3              Business Case Analysis (Product profitability)

  1. Creates and reviews all Business Cases to ensure that these are in line with the Financial objectives of the Company;
  2. Follows project and infrastructure rollout in each business case to assure targets are met, will liaise with the project managers to review spending (such as re-costing) and with Commercial Department to follow revenue targets; recommends corrective actions for all deviations from the Business Cases.

4              Operating Expenditure

  1. Oversees the cost management structure of the company and ensures that all expenditure is within Budgets and Approved Forecasts.
  2. Defines the depreciation policy of the company, including residual values and impairment of assets for the company, and submits to the CEO; according to IFRS standards, Rwanda accounting practices, and tax regulations.
  3. Approves the total overspend of more than 5% of annual operating expenditure based on the total of the Project Expenditures, Commercial Direct Expenditure, Network Operating Expenditure, and Admin Overhead Expenditure.

5              Capital Expenditure

  1. Ensures that all Capital Expenditure is approved by the Group Exco and Board.  Assures all CAPEX are budgeted.
  2. Defines the asset disposal policy of the Company, including the residual values;
  3. Oversees and approves the Fixed Assets of the Company and the scrapping and sale of assets; tracks all fixed assets; creates and manages a fixed asset register.
  4. Approves Capital Expenditure as per the authority matrix defined by the company. Assures that Capex requests are within budget, Business Cases, and follows a Cash Flow plan.
  5. Ensures the final acceptance for all CAPEX projects are completed after the equipment is utilized in the network for the first time in line with the organization's Financial CAPEX Policy; updates asset register.

6              Payroll

  1. Ensures that the payroll is processed and paid on the due date, following final approval by the CEO and Group HR and in compliance with the organization's Payroll Financial Policies; assures payroll taxes and benefits are paid and accounted accordingly.

4 - Key Performance AREA (Objective): 

 

TREASURY MANAGEMENT

Key Performance INDICATORS 

  1. Oversees the Treasury function and ensures the management of all banking operations and the necessary cash flow daily, weekly, and monthly; matches and updates to Cash Flow report.
  2. Decides the funding requirements for the Company and sources of financing based on the most critical requirements, risk factors, and optimum cost-benefit; works with Group on funding and with external sources of funds (banks, finance partners).
  3. Decides on the optimum investment (for an example bank line of credit), for the excess funds, based on the risk and return; negotiates best financing terms with finance institutions.
  4. Decides on the structure of the debt in the balance sheet with the aim of strengthening the balance sheet.
  5. Monitors on a monthly basis and improves the working capital by transferring funds between the short term and long term; assure financing in liaison with group and being conscious of any debt covenants at a group level to secure WC shortages (if necessary).

2              Operational Treasury

  1. Monitors and approves the daily transactions carried out that would impact the Company; controls all transactions through an approval process and according to the authority matrix.
  2. Ensures that the day-to-day financial requirements of the company are met through adequate financing and appropriate deployment of funds.
  3. Manages all company payments. Reconciles all payments and accounts on a regular basis.

3              Corporate Treasury 

  1. Approves the appointment of commercial bankers, credit facilities limits, tax consultants, legal consultants, cheque and payment signatories and appointment of brokers, insurance agents, and termination of insurance.
  2. Builds and maintains business/funding relationships with local, regional, and international banks and investors by:
  • making presentations to existing and potential investors on company performance and strategy.
  • responding to planned and ad hoc investors’ inquiries.
  • maintaining ongoing communication with banks and investors (worldwide) via telephone, email, and physical correspondence

4              Insurance

  1. Manages the insurance activities of the company; assures policies are updated and follows all claims;

5 - Key Performance AREA (Objective): 

SUPPLY CHAIN MANAGEMENT

Key Performance INDICATORS 

1              Procurement

  1. Develops and updates the Procurement Policy of the Company in line with changes required within the Business and submits to the CEO and Board for final approval;
  2. Oversees the Procurement function for the Company and manages the Procurement section in the Finance Department on a daily basis; establishes procurement process, assures transparency and adherence.
  3. Receives daily, weekly and monthly reports from the Procurement Manager and checks authenticity, identifies procurement issues or problems, and addresses these.
  4. Approves the appointment of Suppliers based on the due diligence, compliance, and submits to the CEO and Board of Directors for final approval;
  5. Approves all purchase orders for the Company according to the authority matrix;

2              Warehouse and Logistics

  1. Oversees the operations of the Company stocks through the weekly reports from ensures stock availability is within Company re-order levels. Assures timely delivery, customs clearance, and stocking of building materials, network equipment, CPE’s and consumer products/equipment.
  2. Limits the expense for the write-off of trade stock to a minimum in compliance with the organization and the organization Group Stock Management Policy;

6 - Key Performance AREA (Objective): 

BILLING AND CREDIT MANAGEMENT

Key Performance INDICATORS 

1              Billing Services

  1. Manages billing processes and procedures to ensure accurate and timely billing of all products and services; assures that customers are billed from service acceptance.
  2. Oversees the implementation, customization, and configuration of pricing, tariffs on all Billing and related platforms to suit Business requirements and to meet revenue objectives.  Assures accurate billing/invoicing.
  3. Approves and ensures, through the Billing Manager that new products and services have been configured in the Billing System (such as tariffs, business rules, so on);
  4. Reviews approves and distributes to Exco the traffic, revenue, collections, and subscriber/customer reports from Billing systems;
  5. Reviews and approves reports required by the Regulator to monitor the organization  compliance to such regulations as Numbering Plan, Anti-Money Laundering;

Accountable for:

  1. The financial viability and stability of the organization
  2. Group financial reporting for the organization and the organization Groups
  3. Statutory Reporting & Statutory Audit
  4. Stakeholder Management
  5. The financial management and control for the organization

Formal Qualifications Required

  • CA, ACCA, CIMA
  • Master’s Degree in Finance or Administration or similar from a globally recognized leading institution

Job-Related Experience Required             

Financial management and control, reporting, and treasury experience including a minimum of 12 years experience in a similar C-Suite Executive Management position of a $150m+ company within the Telecom/ICT sectors  

Job-Related Knowledge Required

  • Strategic management and planning
  • Financial reporting and compliance
  • Taxation and Treasury
  • Planning and budgetary control
  • Corporate and statutory reporting
  • Business risk and compliance

 

Job-Related Skills Required

 

  • Excellent verbal and written communication and ability to present complex situations
  • Ability to plan and organize 3 to 5 years ahead
  • Ability to analyze and solve complex problems to achieve the correct outcomes
  • Ability to negotiate, interact and achieve targets locally, regionally, and internationally
  • Ability to lead, manage and develop staff and employees 

 

Job Details

Level : Management level
Industry : Business
Salary : Confidential
Experience : 5 Years
Applications : 3
Locality : Nairobi, Kenya
Eligibility : Bachelor
Company : Kaziweza limite...
Posted By Kaziweza limite... / 20 Aug 2021

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