Mission:
The Head of Finance acts as a chief financial advisor and strategic finance business partner, providing financial support to the CEO & senior management while overseeing the financial operations of the company and making decisions to improve the overall financial health of the company.
The role ensures the financial profitability and viability of the organisation through appropriate administration of the business, effective working capital management, and proactively managing the financial performance of the company. The role entails working under the guidance of CFO: Bayobab, and works in collaboration with the Bayobab Finance team.
Key Performance Areas:
Key Deliverables:
The Head of Finance will be accountable to achieve the following objectives:
Strategy Development and Implementation:
- Cascade the Group strategy to create functional strategy aligned with the overarching business goals, under oversight of the CEO.
- Ensure effective implementation of the functional strategy by means of providing direction, structure, frameworks, models, plans and roadmaps.
- Oversee regular review of the functional strategy and roadmap, under oversight of the CEO, to ensure its alignment with the changing dynamics of the internal and external ecosystem.
Staff Leadership and Management:
- Source, induct and manage talent in accordance with legislative guidelines.
- Continually develop a culture of strong collaboration and effective team working.
- Ensure open communication channels with staff and implement change management interventions where necessary.
- Provide definition of roles, responsibilities, individual goals and performance objectives for the team.
- Set KPIs and provide regular performance feedback through a well-defined and implemented performance review program.
- Develop and implement a training plan in order to build and develop skills within the team.
- Performance manage resources in accordance with HR policy and legislation where necessary.
- Actively participate in leadership team and develop skills of own team.
- Promote a ‘partnership approach’ to develop strong relationships with other working groups and ensure adherence to Group governance.
Governance:
Strategic Meetings
- Participate and provide input in strategic meetings.
- Provide inputs & drive OpCo wide transformation initiatives, elicit inputs from relevant parties.
- Provide inputs to and ensure adequate risk mitigation and controls in the function.
- Perform evaluation baseline of Service Level Agreements (SLAs) and KPIs.
- Drive preparation of proposals/ business case on change initiatives SLA, policies and procedures.
Escalations
- Escalate issues that will result in severe time, scope, productivity, and cost or resource impact to CEO / Group team.
- Manage and provide solutions to escalations that have multiple processes / functions impact on critical path of service delivery.
Function Tactical
- Review and finalise objectives, targets and budgets for the function, under oversight of CEO.
- Review key risks, issues and dependencies and set mitigation actions, seeking guidance from the CEO as and when required.
- Sign-off / make decisions regarding tactical changes and where required seek sign-off from Management.
Performance
- Monitor performance and alignment with overall OpCo strategy.
- SLA approval and exception performance review.
Budgets:
- Manage function’s budgets in line with business objectives, under oversight of CEO.
- Ensure that the cost of operations are managed, in line with a least cost operating strategy stemming from the business drivers, under oversight of the CEO.
Operational Delivery:
Functional Leadership:
As the functional leader of the Finance vertical, the role is accountable to:
- Monitor and align the direction, strategy and results of the Finance vertical, collectively and as individual work areas in the OpCo, ensuring that the Group guidelines are duly complied with.
- Lead and deploy an integrated solution development and problem-solving philosophy across the function.
- Serve on the executive committee to align Finance goals to other departmental and organizational objectives.
Delivery Leadership:
As the delivery leader of the Finance vertical, the role is accountable for the following work area outcomes:
- Advise and provide support for the resolution of issues in forums such as Board meetings, Operational Review, etc.
- Representation and management of specific Opco related committees – Risk & Audit Committee, Capex committee.
- Implement and oversee execution of policies, procedures and guidelines set forth by group Finance team and ensure the team complies with the same.
- Implement governance to manage the consolidated OpCo Finance, budgets and financials, with guidance from OpCo CEO/MD.
- Manage finance operations and activities including accounts payables, accounts receivables, budgeting and control, financial planning.
- Deliver results under the guidance of the Bayobab CFO, abiding by all the set directives and regularly reporting compliance.
- Manage cash flow of the company ensuring generation of sufficient funds for day to day operations and CAPEX spend; monitor actual spending and ensure financial compliance with all business transactions.
- Monitor maintenance of integrity of the financial data, financial processes, procedures and financial controls in line with established accounting processes, regulations governing the business and internal control policies.
- Implement the Forecasting, budgeting and financial planning process for the OpCo to ensure all budgets adequately reflect periodic resource requirements and revenue estimates for the business, communicate the same to the Group.
- Responsible for the review, approval and/or update of business plans, budgets and forecasts of the function.
- Ensure accuracy of financial data in GL accounts by implementing appropriate accounting principles and standards for all transactions.
- Ensure timely and regular reporting of the company’s financial performance and cash flow statement.
- Implement tax risk management plans and review all computations and submissions in line with Group guidance.
- Oversee accounts receivable reconciliation and differed revenue reconciliation activities ensuring accurate reporting of month-end account reconciliations (including cash, accrual and prepaid accounts).
- Oversee preparation of transfer pricing documents for all intra-group transactions and receive sign-off from group team.
- Handle all transfer pricing controversies and disputes, resolving/escalating issues, as required.
- Oversee local procurement activities and resolve issues, if any. In case of business-critical challenges, escalate to Group Finance team.
Managerial / Supervisory Responsibilities
- Accountable for the morale, performance, and development of the function’s human capital.
- Align function’s values with the company’s brand values.
- Coach and mentor direct reports.
- Ensure assigned team is led, motivated, and rewarded to achieve KPA’s.
- Ensure that coaching / mentoring programs and personal development plans are in place for all staff members.
- Ensure effective management of diversity among personnel in the function.
- Identify staff training and development needs and implement necessary actions.
- Motivate and manage individuals to perform at the highest level, especially in terms of delivery and meeting target deadlines.
- Possess the authority, presence, and integrity to command respect from colleagues and from external contacts.
- Provide career development for direct reports (counselling, coaching, identifying key performance areas, career planning, and goal setting).