Account Receivable Manager I at Food Concepts Plc

Food Concepts commenced operations in 2001. From inception, our aim has been clear-cut and focused: to revolutionize the food sector in West Africa and to deliver extraordinary satisfaction to our stakeholders.

Since launching in 2004, Chicken Republic (Subsidiary of Food concepts) has already opened 55 stores in Nigeria and Ghana. On this basis, we are proud of the brand’s hard-earned reputation as the fastest growing chicken QSR in West Africa and the number 1 chicken QSR in Nigeria (both in revenues and number of outlets). In addition, Chicken Republic was ranked as one of Nigeria’s top 20 brands across all categories (Financial Standards Awards 2009).

We are recruiting to fill the position below:

Job Title: Account Receivable Manager I

Requisition ID: 1907
Location: Mushin, Lagos
Department: Finance Department
Grade: Manager 1
Reports to (Title): QSR Finance, Senior Manager
Direct Reports: Payable Associates & Payable Officers

Job Purpose

• To lead the accounts receivable function by ensuring the timely and accurate collection of all customer payments, maintaining up-to-date records of receivables, and supporting the financial health of the organisation. 
• The role involves managing credit risk, improving cash flow, and fostering strong relationships with internal and external stakeholders

Responsibilities
Credit Control & Collections Management:

• Develop and implement effective credit policies to minimize bad debt risk and ensure timely collections.
• Ensure timely invoicing of franchisee monthly royalty income and marketing contribution invoices, including communication to franchises and posting on BYD.
• Monitor and manage outstanding invoices, initiating follow-ups and recovery actions as necessary.
• Coordinate with franchisees to resolve payment discrepancies, delays, and disputes in a professional manner.
• Prepare and issue monthly statements, reminders, and demand letters to delinquent accounts.
• Maintain accurate aging reports and ensure periodic reconciliation of receivables with general ledger accounts.
• Identify high-risk accounts and escalate issues to senior management for resolution.

Advance to Suppliers Management:

• Monitor and manage outstanding cash advance, initiating follow-ups and recovery actions as necessary.
• Perform periodic reviews with business partners to identify bottleneck to advance retirements and work with Finance Management to proffer solutions.
• Ensure accurate reporting of advances by ensuring offsetting of matching payable and advance transactions for monthly management account, quarterly reports and Annual Reports.

Financial Reporting & Compliance:

• Oversee the accurate posting of customer receipts, credits, adjustments, and write-offs in the financial system.
• Prepare regular management reports on receivables status, including aging analysis, days sales outstanding (DSO), and collection efficiency.
• Perform periodic (quarterly) impairment assessment of receivables (ECL) in line with IFRS 9 Financial
• Support month-end and year-end closing processes with timely data submission and reconciliations.
• Ensure compliance with internal controls, accounting standards, and audit requirements.
• Collaborate with internal and external auditors during audits to provide necessary documentation and support findings.

Process Improvement & Stakeholder Coordination:

• Work closely with relevant stakeholder to ensure alignment between billing, delivery, and payment processes.
• Serve as a key liaison between Finance and Franchises  to resolve billing issues and improve payment experiences.
• Recommend and implement improvements to streamline invoicing, collections, and reporting workflows.
• Train and supervise junior staff within the accounts receivable team to enhance productivity and accuracy.
• Participate in ERP/system upgrades or enhancements related to accounts receivable modules.

Key Performance Indicators

• Number of invoices processed per day
• Average time per invoice processed
• Percentage of invoice exceptions
• Percentage of overdue receivable
• Customer satisfaction with the billing and payment process
• Compliance with internal controls and procedures

Requirements

• A good first degree in Accounting or Finance
• Membership of ICAN, ACCA, or any other related professional degree is an added advantage
• A minimum of 4-5 years’ experience

Knowledge Requirements:

• Strong knowledge of credit control principles and collections best practices
• Proficiency in accounting software (e.g., SAP, Oracle, QuickBooks, Tally)
• Excellent analytical and numerical skills
• Familiarity with financial reporting systems and GL reconciliation
• Knowledge of tax regulations and invoicing requirements.

Decision Expectations:

• Facilitate the payment of invoices due
• Generate financial statements and reports detailing accounts payable status
• Ensure timely entry of invoices for payment
• Support other accounting functions.

Working Condition:

• Jobholder typically work 40 hours per week, Monday to Friday, although some roles may involve weekend or evening work. 
• This role is largely office-based, and requires the job holder to strongly pay attention to detail. 
• Like other accounting positions, it involves a lot of papers and documents. Job role holder needs to have a well-organized system to match the right documents to the right files and payments. 
• Additionally, prioritizing payments based on due dates, amounts and the relationship with the payee is important.

Application Closing Date
Not Specified.