Head, Financial Accounting (Downstream) at Nigerian Oil and Gas Company - Oasis Africa Consulting Limited

Oasis Africa Consulting Limited - Our client is a prominent player in the Nigerian Oil and Gas industry. The company’s operations span across major businesses in the Oil and Gas value chain.

Due to its expanding business in Lagos, they are recruiting to fill the position below:

Job Title: Head, Financial Accounting (Downstream)

Location: Lagos
Job type: Full-time

Job Description

• To ensure accurate reporting of Client’s financial transactions/position and support effective management of the company’s financial resources.
• Develops and maintains a system of financial policies, procedures and controls for efficient financial management 
• Manages bank balances, interest income and expenses 
• Verifies payment requisitions for compliance with laid down controls 
• Develops measures or controls to ensure that all financial transactions are accurately captured and reported  
• Implements measures to ensure that the company’s receivables are effectively monitored and are kept to the minimum 
• Reviews periodic financial reports submitted by relevant departments/units and presents timely reports to Executive Management through the Group Head, Finance 
• Enforces policies and procedures to ensure that the company’s liabilities are minimised and payments promptly settled in line with agreed terms.
• Manages the intercompany accounting process 
• Approves monthly payroll for employees and outsourced personnel/service providers 
• Oversees the preparation of regular financial accounts  
• Performs a monthly preparation of Client’s liquidity position report.     Establishes measures that ensure prompt preparation of required reconciliations, reviews reports for accuracy and to ensure that un-cleared and/or outstanding items are investigated.
• Supervises the fixed asset management process.                                            Establishes procedures to secure, account for and monitor the acquisition, movement and disposal of fixed assets across the group. 
• Oversees the deduction and remitting of deductibles e.g. Pension Funds, PAYE  
• Computation and remittance of tax liabilities to the appropriate regulatory bodies 
• Coordinates the statutory reporting process and preparation of the Group annual returns 
• Approves accruals and adjustments on erroneously posted financial transactions into the financial system 
• Responds to relevant requests from financial institutions.

Key Performance Metrics 

• Performance Area- Accounts Management
• Performance Measures/Indicators  
• Integrity of physical and electronic accounting information 
• Timely resolution of accounts discrepancies 
• Timely reconciliation of accounts 
• Number of timely losses identified.

Performance Area - Reporting:

• Performance Measures/Indicators
• Feedback from external auditors & Regulators 
• Timeliness, completeness and accuracy of  financial reports  
• Level of usage of management reports for decision-making 
• Completeness of fixed assets inventory/register.

Performance Area - Statutory Compliance:

• Performance Measures/Indicators
• Number of defaults recorded in payment of Tax, Pension remittance and other statutory payments 
• Ratio of compliance cost to company’s revenue.

Performance Area - Asset and Fund Management:

• Performance Measures/Indicators
• Accuracy and  of fixed asset records 
• Effective Monitors of income and expenditure 
• Accuracy of ledgers for accounts - Payables, Receivables etc.

Qualifications

• Minimum of a First Degree in Accounting, Finance, Economics or any related discipline
• Minimum of 10 years relevant experience, 3 of which must have been in a Management position of an organisation, interfacing with the Executive team and Financial partners
• Relevant professional certifications e.g. Institute of Chartered Accountants of Nigeria (ICAN), Association of Certified and Chartered Accountants (ACCA) or its equivalent
• Experience of statutory financial reporting and knowledge of GAAP, IFRS Desirable:
• MBA or Master’s degree in a related discipline

Skills:

• Financial management, accounting, analysis      
• Financial reporting and budgeting      
• Accounts reconciliation      
• Cost and revenue management      
• Payables and debtor / receivables management      
• Fixed asset management      
• Financial modelling and analysis      
• Management accounting 
• Knowledge of relevant ERP Accounting applications e.g. SAP, 
• Oracle.

Competencies:

• Communication (Verbal and Written)      
• Leadership       
• Attention to detail      
• Problem solving and analytical      
• Team development and management.

Remuneration
Competitive.

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online