Head Accountant Domeo Resources International (DRI)
full-time
Main Function
The Head Accountant - Group is responsible for providing effective financial and accounting leadership across the Group and its subsidiaries, ensuring the accuracy, integrity, completeness and timely reporting of all financial transactions and records.
The role provides central oversight of accounting operations across the Group's Hospitality and Real Estate businesses, ensuring that each subsidiary maintains proper books of accounts, financial controls, statutory records and reporting standards.
The Head Accountant will coordinate the preparation of consolidated financial reports, budgets, management accounts, cash flow reports, tax schedules and other financial information required by Group Management and the Board.
The role will also provide financial oversight for the different business models within the Group, including hotel operations, restaurants, events, property development, property management, rental income, property sales, construction-related expenditure and other real estate activities.
The Head Accountant will work closely with the Group Financial Controller/CFO, Managing Directors, General Managers, Project Teams, Operations, Procurement, Human Resources, Legal and other relevant departments to ensure sound financial management, effective internal controls, regulatory compliance and informed business decision-making.
Role Responsibilities
Group Accounting Oversight:
Provide overall supervision and coordination of accounting operations across all Group subsidiaries.
Ensure that all subsidiaries maintain complete, accurate and up-to-date accounting records.
Establish and maintain consistent accounting procedures and reporting standards across the Group.
Review accounting entries, ledgers, journals, reconciliations and supporting documentation.
Ensure proper classification and recording of income, expenditure, assets, liabilities and equity.
Monitor the financial performance and accounting practices of each subsidiary.
Ensure that accounting issues identified within subsidiaries are promptly resolved.
Provide technical accounting guidance to subsidiary finance teams.
Consolidated Financial Reporting:
Coordinate the preparation of monthly, quarterly and annual Group financial reports.
Consolidate financial statements and financial information from all subsidiaries.
Ensure proper elimination of intercompany transactions and balances.
Review subsidiary accounts before consolidation.
Prepare consolidated profit and loss statements, balance sheets and cash flow reports.
Analyse financial performance across individual subsidiaries and the Group as a whole.
Ensure Group reports are accurate, timely and suitable for management and Board review.
Provide explanations for significant movements, variances and unusual transactions.
Hospitality Business Accounting Oversight:
Provide financial and accounting oversight for the Group's hospitality subsidiaries and businesses.
Ensure proper accounting for hotel rooms, restaurants, bars, banqueting, events, spa, laundry and other hospitality revenue streams, as applicable.
Monitor revenue reconciliation between Property Management Systems (PMS), Point-of-Sale systems and the accounting system.
Review daily revenue reports and ensure completeness of recorded income.
Monitor food and beverage costs, labour costs, operating expenses and departmental profitability.
Ensure proper accounting for service charges, commissions, discounts, complimentary services and other hospitality-related transactions.
Review hotel and hospitality management accounts and operating results.
Work with hospitality management to identify financial and cost-control issues.
Real Estate Accounting Oversight:
Provide accounting oversight for the Group's real estate subsidiaries and property-related activities.
Ensure proper accounting for property acquisitions, development costs, construction expenditure and property-related assets.
Monitor accounting for rental income, leases, property sales and other real estate revenue.
Review property development expenditure against approved budgets.
Monitor project costs and commitments for real estate developments.
Ensure proper classification of capital expenditure and operating expenditure.
Maintain appropriate records for investment properties, property assets and development projects.
Monitor receivables arising from property sales, leases and rental agreements.
Work with project and property management teams to ensure accurate financial reporting.
Management Accounts:
Coordinate the preparation of monthly management accounts for each subsidiary.
Review subsidiary income statements, balance sheets and cash flow statements.
Prepare Group-level management accounts and financial summaries.
Analyse revenue, costs, margins, expenses, assets and liabilities.
Provide management with clear explanations of significant financial movements.
Ensure management accounts are completed within agreed reporting deadlines.
Develop appropriate financial reports for different business units based on their operational requirements.
Budgeting and Financial Planning:
Coordinate the annual budgeting process across Group subsidiaries.
Review departmental and subsidiary budgets for completeness and reasonableness.
Consolidate subsidiary budgets into a Group budget.
Monitor actual performance against approved budgets.
Analyse budget variances and identify areas requiring management attention.
Assist management with financial forecasts and business planning.
Prepare financial projections for new investments, properties, hotels and other Group businesses.
Support management in assessing the financial implications of strategic business decisions.
Accounts Payable and Receivable Oversight:
Ensure proper management of accounts payable and accounts receivable across subsidiaries.
Monitor supplier balances and payment obligations.
Review customer and tenant receivables and outstanding balances.
Ensure timely reconciliation of supplier and customer accounts.
Monitor aged receivables and support effective collection processes.
Review major outstanding balances and recommend appropriate action.
Ensure payments are supported by appropriate documentation and approvals.
Monitor intercompany receivables and payables.
Cash Management and Bank Reconciliation:
Monitor cash balances and banking activities across the Group.
Ensure timely and accurate bank reconciliations for all subsidiaries.
Review cash collection and deposit procedures.
Monitor cash requirements and support effective cash flow management.
Identify unusual or unexplained banking transactions.
Ensure appropriate controls over cash, cheques, transfers and other payment channels.
Coordinate with the Group Financial Controller/CFO on significant cash requirements.
Monitor the movement of funds between Group companies in accordance with approved procedures.
Intercompany Accounting:
Maintain accurate records of transactions between Group subsidiaries.
Reconcile intercompany balances regularly.
Investigate and resolve differences between subsidiary records.
Ensure proper documentation of intercompany loans, advances, services and cost allocations.
Monitor intercompany charges and shared costs.
Ensure appropriate accounting treatment for intercompany transactions.
Prepare intercompany schedules for consolidation.
Ensure all intercompany balances are properly eliminated during consolidation.
Cost Control and Financial Analysis:
Monitor operating costs across Group businesses.
Identify unusual expenditure, cost increases and potential areas of financial leakage.
Review cost structures across hospitality and real estate subsidiaries.
Analyse departmental and subsidiary profitability.
Monitor major expenditure against approved budgets.
Support the identification of cost-saving and efficiency opportunities.
Review project expenditure and capital commitments within the real estate businesses.
Provide financial analysis to support management decisions.
Tax and Statutory Compliance:
Coordinate accounting records required for tax and statutory compliance across subsidiaries.
Work with tax advisers and relevant departments on tax matters.
Ensure proper maintenance of VAT, withholding tax, PAYE and other applicable tax records.
Support the preparation and submission of statutory returns within required deadlines.
Monitor tax liabilities and outstanding statutory obligations.
Ensure proper documentation for tax audits and assessments.
Support management in identifying legitimate tax planning and compliance opportunities.
Ensure the Group remains compliant with applicable Nigerian accounting and tax requirements.
Internal Controls and Financial Governance:
Establish and maintain effective accounting controls across subsidiaries.
Review compliance with approved financial policies and procedures.
Ensure appropriate segregation of duties within finance functions.
Monitor approval limits and financial authorisation processes.
Identify weaknesses in accounting and financial controls.
Recommend corrective measures where control weaknesses are identified.
Monitor financial risks and potential areas of fraud, error or financial leakage.
Work with Internal Audit to address audit findings and control deficiencies.
Audit Management:
Coordinate the provision of accounting records for internal and external audits.
Liaise with external auditors and other professional advisers as required.
Ensure audit schedules and supporting documents are complete and accurate.
Respond to audit queries and coordinate management responses.
Track outstanding audit issues and ensure timely resolution.
Support the preparation of annual financial statements and audit files.
Ensure subsidiaries are prepared for statutory and regulatory audits.
Payroll and Staff Cost Oversight:
Provide accounting oversight for payroll processing across subsidiaries.
Ensure payroll records are properly reconciled with the accounting system.
Review salary-related journals, statutory deductions and staff-related liabilities.
Monitor staff costs against approved budgets.
Coordinate with HR and subsidiary management to resolve payroll discrepancies.
Ensure appropriate accounting treatment of staff benefits, allowances, deductions and other employee-related costs.
Monitor the financial impact of manpower changes across subsidiaries.
Fixed Assets and Property Accounting:
Maintain proper accounting records for Group fixed assets.
Monitor acquisition, transfer, depreciation and disposal of assets.
Ensure proper asset registers are maintained across subsidiaries.
Review capital expenditure and ensure appropriate classification.
Monitor property, plant and equipment balances.
Coordinate periodic asset verification exercises.
Ensure appropriate documentation for asset disposals, transfers and write-offs.
Support the accounting treatment and reporting of investment and development properties.
Financial Systems and Accounting Processes:
Ensure effective use of the Group's accounting and financial management systems.
Review accounting system processes and reporting structures.
Ensure appropriate chart of accounts across subsidiaries.
Support the standardisation of accounting processes across the Group.
Identify opportunities for automation and improved financial reporting.
Ensure finance staff are properly trained on relevant accounting systems and procedures.
Maintain the integrity and security of financial information.
Team Leadership and Development:
Provide leadership and technical guidance to finance teams across the Group.
Supervise and coordinate the work of subsidiary accounting teams.
Set clear performance expectations and reporting deadlines.
Review the performance of accounting personnel.
Identify training and development requirements.
Promote professionalism, accuracy, accountability and confidentiality within the Finance Department.
Support recruitment and placement of qualified finance personnel where required.
Build a strong and reliable Group-wide finance structure.
Management and Board Reporting:
Prepare financial reports and analysis for Group Management and the Board.
Provide accurate financial information to support strategic decisions.
Prepare reports on subsidiary performance, profitability, liquidity and financial position.
Highlight significant financial risks and emerging issues.
Provide financial information required for investment and expansion decisions.
Prepare financial presentations and schedules for management meetings where required.
Ensure reports are clear, accurate and submitted within agreed timelines.
Business Expansion and Investment Support:
Provide financial analysis for proposed new businesses, properties, hotels and other investments.
Prepare financial models, projections and feasibility analysis as required.
Review financial implications of acquisitions, expansions and new developments.
Support management in evaluating investment returns and financial risks.
Provide historical and projected financial data for business proposals.
Assist with due diligence exercises where required.
Monitor the financial performance of newly established subsidiaries or business units.
Compliance and Continuous Improvement:
Ensure compliance with Group financial policies, accounting standards and applicable laws.
Keep abreast of relevant accounting, tax and regulatory developments.
Review finance processes regularly and recommend improvements.
Promote accurate, timely and transparent financial reporting.
Maintain high standards of confidentiality and professional ethics.
Recommend improvements to financial controls, reporting and accounting procedures.
Perform other duties that may reasonably be assigned by the Group Financial Controller, CFO or Management.
Qualifications and Requirements
Education:
Bachelor's Degree / HND in Accounting, Finance, Economics or a related discipline.
Professional accounting qualification is required.
Professional Certifications
ACA -Institute of Chartered Accountants of Nigeria (ICAN) - strongly preferred.
ACCA may be considered.
Other relevant professional qualifications or certifications are an advantage.
Experience:
8-12 years of progressive accounting experience.
4-5 years in a senior accounting or financial management position.
Experience managing accounting functions across multiple companies or business units is strongly preferred.
Experience in hospitality and/or real estate accounting is highly desirable.
Experience with Group consolidation and intercompany accounting.
Experience preparing management accounts, budgets, financial statements and financial analysis.
Experience with tax, audit, statutory reporting and financial controls.
Experience supervising and coordinating finance teams across multiple locations or subsidiaries.
Skills:
Group Accounting & Consolidation
Financial Reporting
Management Accounting
Budgeting & Forecasting
Financial Analysis
Cost Control
Intercompany Accounting
Cash Flow Management
Tax & Statutory Compliance
Audit Management
Internal Controls
Accounts Payable & Receivable
Fixed Asset Accounting
Hospitality Accounting
Real Estate Accounting
Property & Project Cost Accounting
Advanced Microsoft Excel
Accounting Software / ERP Systems
Leadership & Team Management
Analytical & Numerical Skills
Problem-Solving
Attention to Detail
Communication & Reporting
Commercial Awareness
Confidentiality & Professional Ethics.