Head Of Finance And Control At Tokiye Integrated Medical Services

Job Description

• To provide strong financial stewardship and control for the Bank by maintaining accurate and reliable financial records, ensuring timely financial and regulatory reporting, managing budgets and financial resources, and maintaining effective internal financial controls.
• The role will ensure that the Bank's financial reporting, accounting practices, regulatory returns, tax obligations and financial control environment comply with applicable regulatory requirements, accounting standards and internal policies, while providing Management and the Board with reliable financial information for decision-making.

Key Responsibilities

Financial Reporting and Accounting

• Maintain the Bank's general ledger and ensure all financial records are complete, accurate and up to date.
• Prepare timely monthly, quarterly and annual financial statements and management accounts.
• Ensure appropriate accounting treatment for all transactions in accordance with applicable accounting standards and Bank policies.
• Review reconciliations, journals, schedules and supporting documentation to ensure financial accuracy and completeness.
• Monitor suspense accounts and ensure outstanding items are investigated and cleared promptly.
• Maintain appropriate financial records and documentation to support audit and regulatory requirements.

Budgeting, Planning and Financial Analysis

• Lead the preparation of the Bank's annual budget in collaboration with Management and Heads of Function.
• Prepare financial forecasts and periodic reforecasts based on business performance and changing assumptions.
• Monitor actual performance against approved budgets and provide meaningful variance analysis.
• Identify significant cost trends, financial risks and opportunities and recommend appropriate corrective actions.
• Provide financial analysis and commercial insights to support Management's strategic and operational decisions.
• Monitor the Bank's cost structure and promote effective financial resource utilization.

Regulatory Reporting and Compliance

• Prepare and submit accurate and timely financial and regulatory returns to the CBN, NDIC and other relevant regulatory authorities.
• Ensure regulatory reports are supported by accurate underlying financial records and reconciliations.
• Monitor changes in applicable financial reporting, tax and regulatory requirements and coordinate implementation.
• Maintain proper documentation and audit trails for all regulatory submissions.
• Respond promptly to regulatory queries relating to financial reporting and returns.
• Ensure the Bank remains compliant with applicable prudential, accounting and financial reporting requirements.

IFRS & Financial Reporting Standards

• Ensure the Bank's financial reporting complies with applicable IFRS requirements and relevant regulatory accounting guidelines.
• Coordinate the application of IFRS 9, including expected credit loss calculations, in collaboration with Risk & Credit.
• Review impairment provisions, loan-loss recognition and other significant accounting estimates.
• Ensure appropriate accounting treatment for financial instruments, investments, interest income, fees and other material transactions.
• Maintain appropriate accounting policies and procedures and update them when required.

Treasury Back-Office & Financial Controls

• Oversee the finance function's independent confirmation, accounting and reconciliation of treasury transactions.
• Ensure treasury transactions are independently confirmed and settled in accordance with approved procedures.
• Maintain clear segregation between treasury dealing, approval, confirmation, settlement and accounting activities.
• Reconcile bank accounts, investment balances, placements and related income accurately and promptly.
• Monitor treasury-related accounting entries and ensure all transactions are properly recorded.

Tax & Statutory Compliance

• Ensure timely and accurate preparation and filing of the Bank's tax returns and statutory obligations.
• Manage relationships with relevant tax authorities and professional advisers.
• Monitor applicable tax legislation and assess its implications for the Bank.
• Ensure appropriate accounting for tax liabilities, provisions and statutory deductions.
• Provide Management with advice on tax exposures, compliance requirements and potential financial implications.

Audit and Financial Governance

• Coordinate the Bank's external audit process and ensure timely provision of requested information and supporting documentation.
• Liaise with Internal Audit and other control functions on financial control matters.
• Track financial audit findings and coordinate implementation of agreed corrective actions.
• Ensure appropriate financial controls are established over income, expenditure, assets, liabilities, payments and financial reporting.
• Identify weaknesses in financial processes and recommend improvements.

Financial Control and Asset Protection

• Establish and maintain effective controls over the Bank's financial resources and assets.
• Review expenditure and payment processes to ensure compliance with approved budgets and delegated authority.
• Monitor financial transactions for unusual, inaccurate or unauthorized activity and escalate concerns appropriately.
• Ensure appropriate reconciliations are performed and independently reviewed.
• Safeguard the integrity of the Bank's financial information and records.

Management & Board Reporting

• Provide accurate and timely financial reports to the MD/CEO, Management and the Board.
• Present financial performance, budget variances, liquidity-related financial information and other key financial indicators as required.
• Provide financial analysis to support strategic planning and business decisions.
• Highlight significant financial risks, emerging trends and areas requiring Management attention.
• Support the preparation of Board and committee papers relating to financial performance and control.

Team Leadership and Development

• Lead, supervise and develop the Finance/Accounts team.
• Establish clear objectives, performance expectations and controls for finance personnel.
• Ensure appropriate segregation of duties within the Finance function.
• Build technical capability in financial reporting, regulatory returns, reconciliations and financial controls.
• Promote a culture of accuracy, accountability, integrity and continuous improvement.

Requirements

• BSc or HND in Accounting, Finance, Economics or another relevant discipline.
• ACA, ACCA or ANAN membership is required.
• CITN membership or relevant tax qualification is desirable.
• An MBA, MSc or other relevant postgraduate qualification is an advantage.
• Minimum of 10 years' relevant professional experience, with at least 5 years in banking, microfinance, financial services or another regulated financial institution.
• At least 2 years' experience in a financial management or supervisory role.
• Demonstrable experience preparing CBN and/or NDIC regulatory returns is essential.
• Experience with IFRS, IFRS 9, financial controls, budgeting and external audit within a regulated financial institution is strongly preferred.
• Financial reporting and accounting
• Regulatory reporting and compliance
• IFRS and IFRS 9
• Budgeting and financial planning
• Financial analysis and management reporting
• Internal financial controls
• Bank and investment reconciliations
• Tax and statutory compliance
• Audit coordination
• Treasury accounting and control
• Risk awareness and financial discipline
• Accuracy and attention to detail
• Commercial and analytical judgement
• Team leadership and people development

Performance Measures

• Accuracy and timeliness of monthly, quarterly and annual financial reports.
• CBN, NDIC and other regulatory returns submitted accurately and within required deadlines.
• Minimal or no material regulatory queries arising from financial reporting.
• General ledger and bank reconciliations maintained accurately and up to date.
• Suspense and reconciling items investigated and cleared within agreed timelines.
• Budget performance monitored with significant variances identified and explained promptly.
• Effective application of IFRS and IFRS 9 requirements.
• Timely and accurate tax and statutory compliance.
• Successful completion of external audits with timely resolution of financial audit findings.
• Effective operation of financial controls with no material control breaches attributable to the Finance function.
• Accurate accounting and independent reconciliation of treasury transactions.
• Protection and proper stewardship of the Bank's financial resources.