Head of Finance - Retail at QMB Mart

QMB Hypermart, a leading Retail and Lifestyle company in the FMCG Industry, is recruiting to fill the position below:

Job Title: Head of Finance - Retail

Location: Lekki, Lagos

Key Performance Deliverables

• Oversee financial and accounting processes to ensure compliance with Corporate and local policies, statutory requirements, and IFRS. Maintain ethical standards with unyielding integrity.
• Serve as the primary contact with independent auditors and audit-related accounting matters.
• Manage administration of accounts receivable, accounts payable, inventory control accounting, and payroll.
• Oversee the month-end close process to ensure timely closure and financial reports preparation.

Budgetary Function:

• Preparation of annual budgets - Profit & Loss, Cash Flow & Balance Sheet.
• Analyze and report variances - Propose and implement remedial action.
• Estimate the requirement of funds – short-term and long-term.

Financial Management Reporting and Cost Control Function:

• Provide gross profit reporting, analyses, and forecasting
• Implement financial controls and develop financial management mechanisms to minimize financial risk. Maintain a documented system of accounting policies and procedures.
• Manage the company's financial reporting systems.
• Produce accurate financial reports to specific deadlines including:
  • Monthly management accounts
  • Working capital
• Analyze, interpret and report operating results and make specific recommendations to achieve cost-effectiveness and profit improvements.

Balance Sheet and Assets Management Function:

• Work with operating units to achieve effective balance sheet and assets management.
• Oversee inventory control procedures, including physical stock-take and audit.
• Account for and maintain proper inventory reserves for Excess, Expired, and Obsolete Inventory.
• Review assets register to keep track of and safeguard company assets.

Cash Flow Management & Control Function:

• Daily control of elements affecting working capital.
• Oversee operational cash management and cash flow forecasting for each business section.

Audit Function:

• Lead preparation of financial accounts for auditing exercise.
• Oversee annual audits exercise.
• Conduct internal audits and liaise with auditors to ensure that annual monitoring is carried out effectively.

Control Function:

• Develop and implement accounting policies, procedures, and internal controls in support of business processes and decisions.
• Ensure all activities comply with relevant acts, legal demands, ethical standards, and internal management policies.
• Manage all direct and indirect tax filings, reporting, analysis, and all its underlying processes, ensuring timely remission with adherence to statutory timelines and accurate account reconciliation.
• Build processes and controls: Develop, implement and establish procedures to improve financial business planning by ensuring proper business accounting, review of existing processes employed for critical activities, identifying gaps, and building improvements.

Business Partnering and Relationships:

• Cultivate and maintain a productive relationship with Auditors, Banking, Secretarial Services, Vendors, Customers, and other Business stakeholders.

Requirements

• Interested candidates should possess a B.Sc Degree with at least 8 years relevant work experience.

Application Closing Date
5th March, 2022.