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Manager, Financial Accounting
Job SummaryThe incumbent is responsible for directing and coordinating the key operations of the Financial Accounting Section of the Finance Department.
The Manager, Financial Accounting is responsible for directing and coordinating the key operations of the Financial Accounting Section of the Finance Department, which involves financial reporting, cash and debt management, receivables, payables and payroll to achieve the department’s operational objectives in accordance with the organization’s strategic goals. Work includes maintaining compliance with statutory and legal requirements and presentation of annual Financial Statements in accordance with the International Financial Reporting Standards (IFRS). He/she is also responsible for providing technical assistance and training to subordinates.
Key functions & duties:
- Assists the General Manager Finance in determining the strategic goals for the Unit and developing strategies to execute, implement and achieve the objectives set.
- Manages the day-to-day operations of the Financial Accounting Unit by identifying establishing and executing departmental plans and policies.
- Assists in the development of the financial policies and procedures.
- Completes management reports as required by the Board of Directors, the Ministry of Health and other Regulatory Agencies.
- Produces monthly/annual Financial Statements.
- Coordinates the annual audit of the account by the Auditor General and any financial audits by the Internal Audit Department.
- Coordinates the capture of accounting transactions through the accounts payables, receivables, and general ledger and payroll modules on the financial management information systems.
- Assists in the administration of the Financial Management Information Systems, making updates, and assisting in upgrade of the software, as needed.
- Develops, monitors, and reviews complex financial calculations and reports, including month-end reconciliations/analyses in relation to accounts payables, cash receivables, capital expenses, payroll and benefits, and associated general ledger entries.
- Establishes and reviews internal financial controls making recommendations and implementing changes in the financial policies and procedures as needed.
- Ensures timely payments to suppliers and employees within contractual and statutory requirements.
- Performs reviews of expenses and postings to the general ledger to ensure the accuracy of data and reliability of information presented in reports.
- Supervises & motivates staff to a high level of performance; administers personnel and disciplinary actions and resolves grievances.
- Manages treasury operations, including cash management, banking, debt, and investments ensuring operational compliance with established policies and procedures.
- Manages change to ensure the team adopts a culture of continuous improvement.
- Drives improvements in financial processes to promote financial and operational compliance.
- Participates in sensitive, technical and special projects.
- Participates in preparing department personnel utilization plans and budgets.
- Provides guidance and sensitize accordingly all relevant stakeholders as to established company and departmental policies and procedures and application thereof.
- Establishes key performance indicators and metrics to measure and assess both departmental and staff performance in accordance with set department and individual deliverables.
- Liaises with internal and external stakeholders to establish and build customer relationships and improve synergies.
- Maintains external relationships with patients, banks, auditors, suppliers, debtors.
- Interacts with Ministry of Health Officials and other relevant parties.
- Performs any other related duties so assigned.
Key knowledge, skills and abilities:
- Knowledge in Laws and regulations that affect the operations e.g. NIS Act, Vat Act, RHA Act, PAYE Act, Audit and Exchequer Act, Companies Act.
- Knowledge in Procurement laws and methodologies.
- Asset Management.
- Project Management.
- Financial acuity.
- Customer service.
- Microsoft suite.
- Financial Information System.
- Leadership and teamwork skills.
- Critical Thinking and analysis.
Required Qualifications, Training and Experience:
- Professional Accounting designed such as ACCA/CPA/CMA/CGA/CIMA.
- At least eight (8) years’ work experience in an environment with at least five (5) years in a supervisory role.