Finance Manager at Paelyt Solutions Limited

Paelyt Solutions Limited is an innovative financial services company (payments, loans, and savings) and technology solutions provider. We possess several money lending products, including Traders / Agents, Device Financing, Supplier Financing, Salaries, etc.

Our payment platform, Paytrx, facilitates seamless and secure payments across several online and offline channels. Through partnerships with clients, our solutions are functional at key banks and financial institutions. Our primary focus is on Business-to-Business (B2B) and Business-to-Business-to-Customer (B2B2C) financial services.

We are recruiting to fill the position below:

Job Title: Finance Manager

Location: Lekki Pennisula, Lagos
Employment Type: Full-time

Job Description

• Manage the budgeting process and general long-term financial planning (including cash flow forecasting).
• Coordinate financial reporting efforts to ensure timely and accurate production of financial results.
• Liaise with external Auditors for annual financial audits and preparation of statutory financial statements.
• Support compliance with regulatory requirementsEnsure all tax filings are carried out in a timely manner.
• Build relationships with existing and prospective bank partners to optimize processing costs and other related services.
• Prepare and review Prepayment schedule, Accrual, Accrued expenses and provision ledgers.
• Prepare Monthly Management Account (Profit & Loss, Balance sheet etc.)
• Provide financial reports and interpret financial information to managerial staff while recommending further courses of action.
• Ensure all statutory taxes (i.e. VAT/Corporate Tax/PAYE/WHT) accounts are reconciled.
• Automate existing & future finance team tools to minimize manual updating & inputs to dramatically increase team efficiency
• Advise on investment activities and provide strategies that the company should take.
• Maintain the financial health of the organization.

Key Performance Indicators
Transaction processing and Efficiency:

• % Variance to Expense Budget
• Payment error rate
• Internal customer (i.e. other departments) satisfaction survey score
• Timeliness of remitting Corporate tax (date), VAT/WHT (date), pensions (date) and PAYE (date)
• Frequency sanctions/penalties as a result of delays or errors
• % Automated Reporting from Accounting System
• % Master Data Accuracy Overall (CoA, Customers, Suppliers etc)
• Number of Days to complete Month End
• % of invoices Paid by Due Date

Finance People and Technology:

• % Compliance with ERP System Controls
• Number of transactions approved outside the ERP
• Frequency of system downtime within and outside the office network
• % Automated Reporting from Accounting System, SAGE 200
• Rate of finance staff turnover
• Number of disciplinary actions (finance staff)
• % Appraisals Completed on Time (Finance Staff)
• % Absenteeism (Finance Staff)

Insight:

• % of time used on data analysis, management reporting and providing management insights
• Debtor days
• % Strategic Risks Mitigated
• Content of management reports

Reporting and Compliance:

• Financial report error rate
• Number of audit adjustments/journals raised
• Audit Score Ratings (#)
• Number of days to conduct period end close activities
• Degree of meeting internal and external reporting deadlines
• % Policies & Processes up to Date
• % Audit Findings Resolved by Deadline

Finance and Accounting Planning:

• Process turnaround time (days)
• Timeliness of preparing Finance and Account Plan
• Alignment between the Finance plan and the Paelyt’s Corporate objectives
• Error rate (%)

Budget Preparation and Monitoring:

• Days to complete Budget
• Timeliness of preparing the Corporate Budget (date)
• Timeliness of preparing the Budget Performance Report (date)
• Error rate (%)
• Degree of variance between planned and actual budget figures
• Reduction in volume of extra-budgetary expenditure

Training and Development:

• % Personal Capability/Training Achieved
• % Finance Staff Capability/Training Achieved

Required Qualifications

• Bachelor's Degree or Higher in Finance or related discipline. Qualified Accountant (e.g. ACCA, CFA, CPA, ICAN etc.)
• A Master's degree will be an advantage.
• Possess 7 - 10 years of relevant experience in an Accounting or Finance position in a financial Services Organization, FinTech or regulated Company environment.
• He will also be IFRS compliant and be savvy on related and contemporary finance issues/topics.
• Good knowledge of Financial Modeling
• Detail-oriented, strategic and analytical

Skills:

• Decision-making and problem-solving skills.
• Leadership skills with the ability to delegate, motivate and inspire team members. Be proactive in creating and executing plans to demonstrate leadership skills
• Honesty and integrity.
• Strong written and verbal communication skills.
• Ability to manage time effectively
• Cash Management, Financial Accounting, and Corporate Finance Competence
• Strong Work Ethic. Work smart and fast.
• Firm grasp of the fundamentals of budgeting, analysis, compliance, risk management and other accounting principals

Abilities:

• Financial Management
• Teamwork
• Communication Skills – Written and Oral
• Digital Literacy
• Problem Solving
• Service Orientation
• Quality Assurance
• Ability to work under pressure reliably.

Application Closing Date
15th March, 2022.