Finance Officer Vacancy at Fedeth Microfinance Bank

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Position Title: Finance Officer.

Job Station: Abuja.

INTRODUCTION:-

Finance Officer job opportunity is available at Fedeth Microfinance Bank for individuals who possess relevant qualifications.

Job Summary

• The Finance Officer will undertake all aspects of financial management, including corporate accounting, regulatory and financial reporting, budget, and forecasts preparation.
• The Finance Officer’s responsibilities will also include tax management and administration, performance management and act as a consultant for senior managers, conducting cost and revenues analyses.

DUTIES AND RESPONSIBILITIES:-

Management Account:

• Maintains and enforces a documented system of accounting policies and procedures.
• Oversee the operations of the accounting department, including managing the organizational structure adequate for achieving the department’s goals and objectives.
• Oversee accounting operations of the company.
• Create an organizational structure within the accounting department to facilitate the achievement of the department’s short-term goals and long-term objectives.
• Manage and mentor junior personnel in the accounting department.

Transaction:

• Ensure that accounts payable are paid in a timely manner.
• Ensure that all reasonable discounts are taken on accounts payable.
• Ensure that accounts receivable are collected promptly.
• Ensure that periodic bank reconciliations are completed.
• Ensure that required debt payments are made on a timely basis.
• Maintain the chart of accounts and manage GL for accuracy.
• Management of tax- VAT, WHT, PAYE. Liaise with the company’s tax consultant, auditor, and regulators for efficient tax management.
• Advise and liaise with Operations on transaction postings to ensure that the correct GL are credited or debited. Maintain an orderly accounting filing system.
• Maintain a system of controls over accounting transactions.

Financial Reporting and Budgeting:

• Preparation of monthly, quarterly, and annual management account for management and regulators. Issue timely and complete financial statements.
• Coordinate the preparation of the corporate annual report. Recommend benchmarks against which to measure the performance of company operations.
• Calculate and issue financial and operating metrics.
• Manage the production of the annual budget and forecasts.
• Calculate variances from the budget and report significant issues to management.
• Provide for a system of management cost reports.
• Provide financial analyses as needed, in particular for capital investments, pricing decisions, and contract negotiations.
• Ensure that financial reports comply with current accounting principles and financial reporting standards. Publish complete and timely financial statements to company executives, shareholders, and the board. Account for any budget variances and report significant discrepancies to management.
• Recommend benchmarks for the measurement of company financial performance goals. Responsible for the filing of quarterly and annual reports with the Securities and Exchange Commission.

Compliance:

• Provide regulatory reports to the compliance department for rendition.
• Coordinate the provision of information to external auditors for the annual audit.
• Monitor debt levels and compliance with debt covenants.
• Comply with local, state, and federal government reporting requirements and tax filings.

DESIRED EXPERIENCE & QUALIFICATION:-

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WHO IS Fedeth Microfinance Bank?