Deputy Managing Director (Finance and Administration)-Ghana

Job Title:                     Deputy Managing Director (Finance and Administration)-Ghana

Industry:                      Financial Services

Location:                    Ghana

Salary:                         Competitive Salary Package + Benefits

Role Purpose:

The role is responsible for the development and management of the business’s finance, accounting and administrative function as well as overseeing the investment strategy. The role will also ensure that the finance activities of the business will support the Company in pursuing its mission with a minimum of risk and maximum efficiency.

Responsibilities:

Technical/Operations duties

1. Strategy

• Architect and steward of the company’s finance strategy, structure and processes
• Responsible for ensuring financial standards and procedures are adhered to
• Ensure that the finance programs throughout the company are effective and efficient in identifying, preventing, detecting and correcting noncompliance with applicable rules and regulations.
• Full documentation of required policies and SOPs
• Ensure that the company complies with all financial and regulatory requirements (locally and
• internationally).
• Develop a full financial and accounting reporting function to establish and maintain sound finance, accounting and administration practices, procedures and controls within the business

2. Finance

• Develop a full financial reporting system
• Maintain sound financial practices, procedures and Controls
• Create/develop appropriate reports: financial ratios; liquidity report; currency gap report; various credit reports; breakdown by dept/units; breakdown by products; plan-fact comparison; historic development; others as required/appropriate
• Analyze financial data and develop financial analysis as a key management tool: identify risks, inefficiencies, negative tendencies, and propose measures that reduce risks, improving efficiency and investment opportunities and related risks
• Create/modify procedures such that they are low-risk and efficient
• Analyze existing procedures for adequacy and making changes, if necessary
• Provide recommendations to strategically enhance financial performance

3. Treasury and Liquidity Management

• Create cash flow forecasts
• Ensure availability of sufficient resources for business operations
• Allocate resources and manage cash flows
• Conduct profit and cost analyses
• Responsible for ensuring all financial conditions are met as required by creditors, banks, etc for all transactions
• Responsible for ensuring claims, reinsurance, treaty and facultative obligations are met timely
• Implement a robust contract management and financial management/ reporting system; ensure that the contract billing and collection schedule is adhered to and that financial data and cash flow are steady and support operational requirements.

4. Investment

• Develop investment policies and SOPs
• Oversee the implementation and adherence to investment policies and SOPs as approved by the Board
• Ensure investment policy follows ALCO guidelines (Asset Liability Committee) and company policies and SOPs
• Ensure compliance and non-violations of guidelines and SOPs

• Review and update policies and SOPs as and when required with approval from Managing Director and Board
• Report on investment assets; the cash management function, which includes investment cash flows to asset managers
• Provide recommendations to strategically enhance financial performance
• Advise Management and the Board on investment strategy and policy and submit monthly and quarterly reports on investment

5. Accounting, Budgeting and Reporting

• Ensure that the accounting function is carried out effectively and efficiently and that records are maintained to professional accounting standards.  
• Prepare and develop the company’s budget on an annual basis
• Monitor budget to ensure forecasted results are achieved.
• Generate Monthly variance reports on actual and budgeted performance for Executive Management
• Compilation of annual financial statements and liaison with external auditors
• Responsible for a clean and unqualified audit report is achieved at each external audit review
• Responsible for generating monthly/quarterly reports for all the risk categories
• Manage generation of financial statements according to local accounting standards
• Manage generation of financial statements according to GAAP or IFRS
• Manage timely reporting to relevant local authorities (GRA, SSNIT, others)
• Manage timely reporting to Executive Management as required
• Accountable for internal client service relating to the following:

-  Expense controls; for all departments

-  Provision of accurate premium income statements

-  Operations

-  Resolving internal client queries

6. Compliance

• Responsible for ensuring that the Company operates within the approved risk management framework and policies
• Ensure compliance of finance activities with policies, procedures, plans and agreements, decisions of affiliate governing bodies
• Maintain good coordination with stakeholders and governing bodies
• Ensure compliance with financial covenants in agreements with creditors and investment donors
• Address tax issues and define a tax strategy for the company
• Act as the coordinator and main contact person with external auditors

7. HR & Administration

• Participate in the procurement committee activities that includes purchase and maintenance of all fixed assets that should be carried out in compliance with policies and SOPs
• Ensure maintenance of a comprehensive fixed asset register.
• Ensure compliance with anti-money laundering regulations and laws.
• Oversee the orderly and efficient conduct of the activities of the estates, transport and general services units, as well as the protection and preservation of the company's assets.
• Develop human resources and administration, enhancing professional development, compensation and benefits, performance evaluation, training, and recruiting.
• Ensure that recruiting processes are consistent and streamlined.
• Establish and manage a comprehensive training program to educate employees regarding staff tools, policies, and procedures.
• Work closely and transparently with all external partners including third-party vendors and consultants.
• Oversee administrative functions as well as facilities to ensure efficient and consistent operations as the company expands.

Supervisory duties

- Finance Dept

- Treasury

- Human Resource and Administration

General duties

- Any other duties that may be assigned.

Key Performance Measures

• Efficient and effective control measures in place
• Fully documented and implemented relevant manuals
• Efficient and effective risk aversion and loss preventive measures in place
• Full financial reliability
• Cash flow and Investment Management
• Disciplined approach to financial and administration management, control and governance processes
• Accurate accounting books and accounting systems
• Profitability: ROA, ROE, OSS, Portfolio Yield
• Liquidity: Assure timely financing to sustain business growth
• Compliance: Assure compliance with regulations and  policies and ALCO risk management policies
• Audit: Assure that internal and external financial audits are satisfactory. Zero adverse Audit Findings,
• Financial Analysis and Reporting: Deliver timely financial reports to internal and external stakeholders. Provide financial analysis and recommendations for strategic decisions
• Risk Management: Ensure that all business risks (financial and operational) are kept at the levels approved by the Board.
• Expense controls; for all departments
• Provision of accurate premium income statements - Operations
• Prompt resolution of internal client queries

Key Relationships

Internal

• Managing Director
• Deputy Managing Director Operations
• Sales and Marketing Distribution
• IT Manager
• Accounts Manager
• Finance Manager
• Human Resource and Admin Manager
• EXCO

External

• Board
• Regulatory bodies
• Board Sub-committees
• External Auditors
• Statutory bodies

Responsibilities for Assets

• Set of Furniture
• Laptop and Printer
• Company Phone and Line
• Company Vehicle
• Any other assets that may be handed to you

Level of Authority

• Approve expenditure within defined limits
• Approve tariffs within defined limits
• Approve leave for direct reports
• Reassign employees within functional areas
• Sanction employees within functional areas

Committees Served

• EXCO
• ALCO
• Procurement Committee
• Board Sub-Committees
• Any other committee as directed by Management

Competences

Educational Qualification

• BSc/BA in Business Administration (Accounting, Banking, Finance) or relevant field.
• MSc/MBA (Accounting, Banking, Finance) is desirable
• Chartered Accountant/ Member of a professional accounting body (ie. ACCA, ICA, CFA/CPA, CIMA)

Technical and Technological

• Familiar with relevant laws & regulations, standards and practices.
• Knowledge of relevant regulatory requirements and practices
• Working knowledge of performance/operation metrics
• Working knowledge of IT/Business infrastructure and MS Office
• Exceptional Excel skills with knowledge of working with Accounting and Finance software
• Financial Analysis and Management
• Risk Management
• In-depth understanding of cash flow management, bank reconciliation and bookkeeping

• Hands-on experience with preparation of accounts and preparing documents for board
• Excellent knowledge of data analysis and forecasting models
• Proven track record of delivering Financial excellence
• In-depth knowledge of different business functions marketing, business development, under writing, risk management, Human Resource, Administration, claims etc.
• Procurement, Estate and Transport Management
• Exceptional Oral and Written Communication Skills,

Core Competences

• Completion and solution-oriented - must be results- driven
• Ability to resolve issues
• Proven skill in negotiating
• Inquisitive and suspicious

Place of work