Chief Financial Officer

roomDar es Salaam

business_centerFull Time

book Direct Reports

bookmark Head of Department

directions_carDriving License Not Required

flagOnly Open to Tanzanian Nationals

access_timeExpiring in 4 Days

businessFMCG, Retail & Wholesale

Accounting & Bookkeeping

Summary

Chief Finance Officer (CFO) who will be responsible for helping Company to achieve volume, expansion, profitability (cost savings and total revenue), and impact targets as defined by the Managing Director and in line with the Company mission and objectives.

The Job Purpose of the Chief Finance Officer (CFO) is to ensure the financial health of the business and determine the financial business metrics to lead the company towards profitability. Specifically, to undertake all aspects of financial management, including accounting, regulatory and financial reporting, budget and forecasts preparation, development, and implementation of internal control policies and procedures. Also to provide ownership and execution on all administrative issues.

Responsibilities

Invoicing and Revenue Collection

  • Prepare all invoices (franchise network fees, supply of products to franchises (bottles) and other income/receivables) in the accounting software (Quickbooks)
  • Lead the communication with Franchisees regarding all invoices, arrears, discounts,
  • Oversee the Accounts Receivables management enforcing the AR policy to ensure that all accounts are current

Budgeting and Financial Planning

  • Lead and facilitate the annual budgeting process, coordinating input from across all departments and provide input to the business plan of the company
  • Prepare and monitor performance against forecasts and budgets
  • Execute monthly cash-flow planning (account receivable collections, accounts payables, and payments/disbursements)
  • Oversee and maintain budgetary control to ensure effective revenue management, cost management (value for money), and providing financial advice and commercial insights to the Country Director and Executive team
  • Lead financial planning, board reporting, and building of business Pro-forma/financial projections
  • Support the franchisees in key aspects of financial management and training
  • Assist on initiative and thought leadership in developing the company business model, including looking for opportunities to develop the service offering to the social entrepreneurship sector
  • Participate in long-term organizational strategy creation and planning, quarterly and annual. Undertake ad-hoc financial analysis to support Board and Exec strategic decision Will be expected to provide meaningful insight and challenge to the Exec with strong contributions to strategic decisions.
  • Assist with ensuring correct resources are in place for the organization to grow – programs, HR, and fundraising
  • Serve as a local point-of-contact for institutional contracts reviews, including billing, contract execution,

Financial control and Accounting

  • Responsible for timely monthly/quarterly/annual closing of all accounts
  • Ensure timely and accurate posting, balancing, and reconciliations of the general ledger
  • Ensure monthly reconciliation of bank accounts, cash, sales, and all inventories
  • Ensure that all proper procedures have been followed approvals have been obtained for financial transactions
  • Ensure all cash/credit sales transactions are timely recorded in the accounting system
  • Develop, implement and review business processes, procedures, and accounting policies to maintain and strengthen internal controls over cash/bank, inventory, intercompany transactions, accounts receivables, accounts payables, payments, and reporting manager all aspects of cost accounting (including landed cost accounting) and inventory control support for both Franchises and company-owned stores
  • Develop, implement and review business processes, procedures, and accounting policies to maintain and strengthen internal controls over cash/bank, inventory, intercompany transactions, accounts receivables, accounts payables, payments, and reporting

Reporting and Audit Management

  • Produce monthly & quarterly financial reports providing variance analysis and in-depth understanding of the key drivers of the business
  • Leading and coordinating the annual external audit to meet reporting deadlines
  • Research technical accounting issues for compliance (IFRS, IAS standards)

Compliance and Banking

  • Manage relationships with the Company's banks and ensure needs are met on a timely basis
  • Liaison for all investor relations regarding debt management with banks and BOT and other regulators
  • Accountable for full tax and regulatory compliance of the business (Statutory returns, Corporate Tax, PAYE, NSSF, VAT, EXCISE TAX, WHT, )

Organizational Needs

  • Measure effectiveness and efficiency of commercial operational processes both internally and externally and find ways to improve processes
  • Improve day to day accountability against operations and strategy across Jibu in close coordination with Managing Director, Franchise Director, and another executive team
  • Design and revise external partner commercial operating toolkits and manuals for both the individual franchise owners
  • Support financial planning efforts, including budgeting, forecasting, and P&L analysis alongside the Finance Manager, Franchising Director and
  • Lead the pricing strategy and input costings
  • Assist the MD in developing and overseeing long-term business strategies
  • Assess and manage the principal risks of the business
  • Hire and set up the Human Resources of the company
  • Support senior leadership team in business development efforts (loan applications, financial modeling, grant writing) to secure funding to grow the company.

Education and Qualifications

  • Degree in Accounting or Finance
  • Required professional qualification CPA, ACCA, CIMA, or equivalent thorough knowledge of accounting principles and procedures including IFRS and IAS
  • High levels of proficiency in Excel, Word, PowerPoint, and Google Suite
  • Excellent accounting software experience in Quickbooks
  • Strong focus on controls and processes and high attention to detail
  • Strong communication skills for engaging with business partners and ensuring processes are being followed
  • Strong people manager who can evidence experience in leading, mentoring, and providing clear guidance to junior finance staff
  • Confidence to challenge senior opinions and maintain positive working
  • Fluent English skills

Requirements

  • Minimum of 5 years experience working in business in an emerging market context
  • 5+ years of experience in the Finance department in a similar role in Tanzania/EA with a for-profit business that operates in multiple locations and in several
  • Demonstrable experience with preparing financial statements, management accounting (costing, unit economics)
  • Demonstrated experience with complex budgets and forecasts prepared in Excel and daily and monthly monitoring of the actual budget.
  • Able to build systems while ensuring focus on the details
  • Successfully managed people at all levels and from varied backgrounds and cultures
  • Proven track record developing successful managers and ensuring all team members are effective contributors to the business
  • Strong business management experience; operations focus preferred
  • Cultural knowledge and experience working or living in a developed market context

Characteristics

  • Expected to work high autonomously
  • Experience working at FMCG (Fast Moving Consumer Goods) company
  • Experience working in a multi-unit business environment is a plus
  • Experience working in start-up/growth environment
  • Street smarts to navigate both formal and informal components of the business
  • The ability to design and build innovative, solid systems while ensuring buy-in and ownership
  • An energetic self-starter, a proven problem-solver, and someone willing to “roll up their sleeves” to do what it takes to get tough jobs done
  • Very good with people, a confident but empathetic results-oriented person who plays to win but strives for mutual benefit
  • Ability to work strategically, creatively, flexibly, and persistently to solve gnarly challenges
  • Ability to coordinate a cross-functional team, from different disciplines and locations, and ensure effectiveness and efficiency through the role and responsibilities
  • Proven interpersonal, relationship, and people management skills
  • A team player with a sense of adventure wanting to make a difference

Reporting To

Managing Director

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FMCG, Retail & Wholesale: 4 Years

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Accounting & Bookkeeping: 4 Years

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