Group Head of Finance

  • Herbert Macaulay Way, 101245, Nigeria
  • Full-time

Company Description

Co-creation Hub is Africa’s leading technology innovation ecosystem builder on a mission to accelerate the application of science, technology and social capital for economic prosperity across Africa.

Our mandate is to build a formidable innovation ecosystem with a deeply rooted network, cultivating strategic partnerships and practical industry know-how that can support entrepreneurs and innovators in building thoughtful, relevant and scalable solutions. From our locations in Lagos, Abuja, Ijebu Ode (in Nigeria), Nairobi (Kenya) and Kigali (Rwanda), we have built a vibrant community of over 81,000 people and counting and have supported to a portfolio of over 120 early-stage ventures including Lifebank, Ushahidi, Riby, BudgIT, Stutern, Kopo Kopo, Sendy, mFarm, Wecyclers and many more.

Job Description

The Group Head of Finance (GHOF) is accountable for the company’s financial and risk management operations. This includes developing a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve company’s assets and report accurate financial results.

The GHOF will provide leadership and coordination in the company’s business planning, accounting, financial analysis, financial reporting, and budgeting efforts. S/he will develop and institutionalize the Finance Department.

Corporate Strategy

  • Collaborating with the CEO and/or the Executive Management  to set strategic financial goals and make strategic business projections based on current trends and future expectations.
  • Work with the management team to ensure alignment on resource requirements and action plans to allow for company’s goals to be met.
  • Continuously monitor company performance and the external landscape to identify risks and opportunities and determine whether adjustments to the strategic approach is required.
  • Work with management to define and implement effective work processes and ways of working across the company to realize the strategic objectives

Financial Leadership:

  • Financial Management: Oversee the duties of the company’s finance function to ensure compliance with regulatory and organizational requirements; increase efficiency and effectiveness of the finance team; accuracy and reliability of financial information and the overall management of the company’s funding and expenditure.
  • Develop forecasts, company financial models and work directly with management across the company to align on plans and measure results. This role requires a deep background in financial modelling and analysis, strong communication skills and a great deal of interaction and relationship building with key stakeholders across finance and the leadership team.
  • Oversee collaboration with other functions, benchmark performance internally to identify opportunities to adjust operating models with the aim of improving effectiveness and efficiency.
  • Treasury/Cash Management and manage the relationship with the company’s bankers.
  • Grants Accounting: Oversee preparation of budgets and financial reports for submission to granting agencies in cooperation with the Program Managers and grantees, as required.
  • Investment Management: Undertake the management of the Company’s assets and securities, including tracking investment performance and providing financial statement analysis to the CEO (and potentially  to the Board).

Financial Reporting and Analysis

  • Oversee the preparation of internal reports, including monthly, quarterly, and annual financial reports, including both operating reports and financial reports
  • Oversee the integrity of the General Ledger, transaction reporting, and the balance sheet on a real-time basis, ensuring that all reconciliations and accruals are accurate and reviewed on a timely basis
  • Oversee the preparation of financial reports and certificates, as required by the internal and external stakeholders.
  • Perform all financial reporting and analysis work for the group’s business operations.

Planning and budgeting

  • Participate in strategic and business planning for the group.
  • Coordinate the setting and monitoring of performance against financial goals and objectives.
  • Provide overall leadership and management of the annual budgeting process and any interim re-evaluation processes; the budgeting processes should provide an accurate forecast of financial and cost accounting information based on historical analysis and teaming with other senior management.
  • Provide overall leadership and management to the capital budget and approval process.
  • Support ongoing re-forecasting efforts to ensure that the company maintains a current operating forecast on a real-time basis, which is integrated with the company’s medium term financial forecast and short-term cash forecast.

Operations

  • Implement operational best practices.
  • Assess and manage any third-party partners/vendors to which accounting or other finance functions have been outsourced.
  • Supervise the financial operations of subsidiary companies and operations.
  • Oversee the company's transaction processing systems.
  • Ensures that systems are in place to maximize revenue, minimize expenses, and meet capital requirements for all company property in accordance with industry best practices.
  • Maintain relationships with key CAPEX and OPEX suppliers.
  • Provide oversight to ensure compliance with local and international reporting requirements and ensure taxes are determined on a timely basis and paid in line with local regulation.
  • Work with Executive Management on periodical cost management and revenue growth decisions.
  • Lead the due diligence and acquisition process, where applicable.

Internal Controls & Processes

  • Ensure proper preparation for all audits.
  • Maintain, review and revise internal controls to ensure the safeguarding of assets and reliability of financial statements.
  • Establish and monitor systems and controls that verify the integrity of all systems, processes, and data, and enhance the company's value.
  • Maintain a documented system of accounting policies and procedures.
  • Enforce compliance with proper accounting procedures and company policies and escalate non-compliance issues to the CEO and/or Executive management when appropriate.
  • Oversee the coordination and activities of independent auditors, ensuring they are provided accurate and timely information as required, all audit inquiries are addressed, and all compliance standards are met
  • Challenge and streamline accounting processes for accuracy and efficiency wherever possible.
  • Direct initiatives focused on automation and efficiencies within the finance unit and in the rest of the Company.
  • Manage the preparation of the annual financial statements, federal and state requirements and preparation of any other required supplementary schedules and information.

Risk Management

  • Anticipate and mitigate key elements of the company's risk profile.
  • Assess and maintain appropriate internal control safeguards.
  • Ascertain that the company uses appropriate insurance coverage.
  • Make sure that the company complies with all legal and regulatory requirements.
  • Ensure that record keeping meets the requirements of auditors and government agencies.
  • Maintain relations with external auditors and investigate their findings and recommendations.

Leadership and Management

  • Lead and mentor the existing finance team.
  • Establish a system of accountability and monitor the performance and competency of direct reports, including conducting timely performance and salary reviews.
  • Develop structures to build and train an effective finance team.
  • Maintain in-depth relations with all other unit heads.
  • Participate in key decision-making processes as a member of the Management team.

Qualifications

  • Bachelor’s Degree or postgraduate professional qualifications in Finance, Accounting, Business Administration and/or other relevant and appropriate discipline.
  • 8+ years of experience handling financial management, accounting, reporting, financial analysis and planning.
  • At least 5 years of progressively evolving management and leadership experience managing large complex employee groups.
  • Demonstrated experience and skill with budget preparation and analysis, financial reporting preparation and presentation, and the proven ability to translate technical, financial data into informative reports.
  • Experience in formulating, developing, and implementing financial strategies and plans.
  • Experience with managing and reporting on complex projects, managing risk, and ensuring value for money.
  • Track record of advising senior management and providing technical support concerning best practices in financial management, aiming to support strategic business goals.
  • Background in strategy and business planning with the proven ability to develop and manage business plans, processes, and controls to enhance efficiencies and mitigate risk.

Knowledge

  • Strong working knowledge of financial accounting, cash flow, donor, grant budgeting and investment management.
  • Strong working knowledge of audit and compliance of different jurisdictions.
  • Knowledge of accounting standards and consolidated financial reporting.
  • Knowledge of grant processes, procedures and auditing requirements.
  • Strong knowledge of the technology ecosystem and understanding of grant and program financing and management.
  • Demonstrate proven ability in organizational development, business transformation, fundraising, project management, asset, and property management.
  • Mission-focused, energetic, results-oriented and process-minded leader who is able to help others deliver measurable, cost-effective outcomes that make the company’s vision a reality.
  • A deep understanding of the African financial, legal & tax regulatory environments and experience dealing with international accounting frameworks.

Additional Information

Benefits

  • A competitive salary, based on experience. 
  • Medical Insurance 
  • Work alongside world-class talent 
  • A culture of learning and innovation
  • Opportunities for career growth and training 
  • Interaction with industry leaders and forward-thinking people
  • A chance to make a social difference
  • ​Overall fun company