Head of Finance at Deloitte South Africa in Lagos

Job description

Job Purpose The Head of Finance (HOF) will be a strategic and operational leader providing counsel to the Principal and the Board of Governors. The HOF will ensure the efficient and effective stewardship of the School’s physical and financial resources, efficient operation of support services and oversight of risk management for the School, and serves as a member of the Core Leadership Team. He/she will serve as the primary School liaison for the Board’s Finance & Procurement Committees Core Responsibilities Banking and Treasury Function Profitable investment of excess funds Ensuring the school’s compliance with all banking requirements to facilitate the smooth operation of its accounts Monitoring the appropriateness of bank charges of all categories across all accounts Preparing loan proposals when required. Advisory and Reporting – Board’s Finance & Procurement Committees Preparing periodic management reports as prescribed by management for review by the board and its finance committee Advising the Principal periodically in a timely and structured manner of the status of the school’s finances, including banking positions, creditors, receivables and other assets. Preparing annual final accounts for presentation to the school’s external auditors Acting in an advisory role to the Board’s Finance & Procurement Committees, by providing on a predetermined periodic basis and on an ad-hoc basis as occasion demands, necessary financial information that will aid decision-making by the board. Ensuring the implementation of the Board’s Finance & Procurement Committees' directives regarding financial and other related matters. Advising and supporting other Board members as required. Budget Preparation of the school’s annual budget and financial statements for approval by the Principal and the Board Responsibility for the effective implementation of the financial budget Carrying out periodic budget performance evaluation Escalating appropriately any adverse or unforeseen budget performance. Financial Management Put in place strategies to ensure the proper management of working capital (including credit control by keeping receivables to a minimum), and also ensure that the school maintains acceptable operating capital ratios. Monitoring and advising on the school’s cash flow position and trend Advising on and instituting cost reduction strategies Reporting on the school’s business and financial performance Ensuring that the school has value for money in purchasing and procurement, and in concert with other relevant functions, ensure that physical assets are maintained in a state to serve the school effectively for their projected lifetimes. Ensuring that loan proposals presented to the board are justified and supported by clear and realistic repayment strategies. Accounting The Head of Finance is responsible for all accounting functions, including journal postings, maintaining the general ledger, preparation of management and final accounts, billing and invoicing, among other sundry accounts functions. Ensure that there is a proper structure in place to record and account for all tangible assets owned by the school. Compliance Ensuring that the school complies with processes, controls and procedures specified in the Financial Manual and the Administration, Procurement Operating Manual, especially in key capital and operational expenditure areas such as Capital purchases and Procurement. Providing training, support and guidance to staff as required to ensure the capacity is built that will enable adherence to prescribed compliance requirements Ensuring that both the Financial Manual, Catering, Procurement and the Administration Operating Manual are updated as required and that they reflect the school’s current needs and operating realities. External Relationships Maintaining relationships with appropriate external contacts, including the school’s bankers, external auditors, and tax authorities. Regulatory Matters Ensure that the school