Finance Team Lead at Everdon Bureau de Change

Everdon Bureau de Change is a Dun and Bradstreet certified Foreign Exchange company headquartered in Lagos, Nigeria. Through us, businesses and individuals can place orders and broker foreign currency transactions more conveniently than ever before. We trade in major global currencies, including the US dollar, UK pound sterling and the Euro.

We are recruiting to fill the position below:

Job Title: Finance Team Lead

Location: Lagos
Department: Everdon Bureau De Change and Currency Business
Reporting Relationships Report to: Group Finance Controller/Subsidiary MD
Supervises: Everdon Bureau De Change and Currency Business

Job Summary

• Responsible for accurate financial reporting, management accounting and finance activities of Everdon Bureau De Change that support the achievement of the Company’s objectives.

Key Task

• Financial/Management reporting
• Budget and budgetary control
• Performance Management
• Tax Management
• Regulatory compliance reporting

Strategic Tasks:

• To ensure timely preparation of financial information which provides a complete and accurate picture of Everdon’s financial position
• To co-ordinate the analysis and synthesis of Everdon’s financial and non-financial information which provides a basis for sound business decisions by executive management
• To protect Everdon’s interest by ensuring that relevant statutory and regulatory reports/returns regarding Everdon’s financial affairs are generated on a timely basis.

Timelines:

• Monthly management account on or before the 3rd working day of the new month
• Weekly management report to be sent before 8am on Mondays
• CBN returns to be filed on or before 13th of the month
• Remittance of PAYE and pension on or before 7th of the new month
• WHT and VAT remittance on or before 20th of the new month
• Filing of CIT returns and CAC returns on or before 28 June
• Submission of audited financial statement by 28 February
• Weekly variance analysis of business performance
• Daily profitability report on FX trade
• Weekly reconciliation f intercompany balances
• Monthly revaluation of currency position

Operational Responsibilities:

• Implementation of Everdon’s goals, objectives, policies and operating procedure.
• Actively contribute to the implementation of Everdon’s corporate strategy
• Identify, communicate and monitor critical interdependencies across the business sectors and forge effective organizational linkage to ensure a concerted/seamless implementation of the Group’s overall business strategy
• Monitoring of waited average cost (WAC) of financial assets

Financial/Management reporting:

• Ensure integrity and accuracy of accounting records by performing daily reconciliations
• Ensure timely reporting of Financial/management accounts of all the entities latest by the 5th of every month
• Execution of month end procedures and process
• Implementation of the accounting software for all reporting entities
• Research technical accounting issues for compliance
• Monitoring and enforcing internal controls over financial transactions and financial reporting.

Budget and Budgetary control:

• Engages all stakeholders in the preparation of Everdon Bureau De Change budgeting and budgetary control document to achieve the agreed corporate objectives
• Monitors the implementation of budgetary mechanisms to proactively identify and manage budget/ performance variances by the business sectors
• Tracks and reports on the implement robust cost management strategies to monitor and control cost for the asset management business
• Provide financial guidance to the Subsidiary MD in the day-to-day running of the business
• Periodically review key Everdon activity and performance reports and makes recommendations to the Group Financial Controller and/or Subsidiary MD for appropriate action.

Performance Management:

• Ensure key business performance analyses and reports are generated and circulated to the Business managers and Subsidiary on a timely basis
• Monitoring of performance for the business and staff
• Suggest strategic guidance where necessary

Tax Management:

• Ensures compliance with local, state and federal government reporting requirements and tax filings.
• Supervise the asset management finance team to ensure complete documentation of relevant supports and proof of tax remittance
• Develop and maintain relationships with appropriate personnel in relevant tax authorities
• Researches on future legislation that impacts taxation and operations, including future risks
• Ensure 100% remittance of all tax and statutory obligations

Others:

• Create, coordinate and evaluate financial programs and supporting information system for the company to include budgeting, tax planning and conservation of assets
• Initiate and facilitate Finance meetings to define and agree targets and workplans, consistent with the Currency business’ strategy and plans
• Participate in the recruitment, selection, training, professional development and performance evaluation of staff in line with the Company’s Human Capital policies
• Serve on committees or cross-functional teams and perform other duties as assigned by the Managing Director or the Board of Directors

Key Performance Indicators (KPI) Financial Target (Non Core):

• Achievement of at least 50% of business targets in FX, FDs, Loans, Cross Selling and Special Products

KPI: 90 Day Deliverables

• Creating management account template for Everdon in compliance with relevant IFRSs, GAAPs and reporting requirements for the audited financial statement.
• Deploy effective structure for preparation of daily reconciliations for bank statements and intercompany balances.
• Deploy effective structure/process for efficient remittance of transaction taxes on a monthly basis i.e. VAT, WHT after consultation with relevant stakeholders

KPI: Non Financial

• 80% accuracy in cash-flow estimates
• 80% degree of average budget variances – Actual vs. Plan
• 80% degree of variances in expense accounts- Actual vs. Plan
• 100% performance in external audit examinations
• Zero non-compliant cases raised by the regulatory bodies
• Quality of financial advice provided to the company
• Accuracy and timeliness of management information and reports
• Internal customer satisfaction levels

Competence Requirements
Core Skills:

• In-depth understanding of the organization’s business.
• Good communication skills.
• Attention to details.
• Good Management abilities.
• Knowledge of GAAP/ IFRS
• Knowledge of finance, accounting, budgeting, and cost control principles
• Ability to analyze financial data and prepare financial reports, statements, and projections
• Excellent communication & presentation skills
• Negotiation
• Working knowledge of Microsoft Office Suite and other relevant accounting tools

Application Closing Date
21st May, 2019.

How to Apply
Interested and qualified candidates should send their CV to: careers@vfdgroup.com