Job Title: Finance Manager
Department / Unit: Finance
Duty Post: North Ridge – Accra, Ghana
Reports Directly to General Manager
Company Profile
We are a bulk oil distribution company (BDC) operating within the downstream sector of
Ghana’s oil and gas industry. We are a people company and we empower our people to
act in the interest of the customer across all aspects of our service delivery in the energy
value chain. We believe in teamwork and are committed to integrity in all of our dealings.
Job Summary
The primary function of the Finance Manager (FM) is to plan, design and co-ordinate the
implementation of sound accounting and financial management as well as control
systems and procedures for all operational areas and to facilitate the maintenance of
accurate and up to date financial and accounting records for effective and smooth
running of Rhema Energy businesses. The remit of the role includes budget forecasting,
investment, risk management, cost-cutting, and pricing. As a manager, he/she will partner
with Human Resources to lead, train, and motivate the finance team to deliver on the
mandate of the department. The ideal candidate is also tasked with developing new
strategies or plans to improve the company’s overall financial health.
The FM will be tasked with investigating ways to improve profitability and analyze markets
(trade, forex exposure, financial instruments, banking activities) to mitigate risk and
identify business opportunities. At Rhema Energy, the finance manager will typically
partner with Management Team members to take strategic decisions that impact the
bottom line. These responsibilities include but are not limited to the following:
- FINANCE & ACCOUNTING
- Manage all aspects of financial accounting system, including managing cash flow, tracking expenditures, and preparing monthly financial reports.
- Oversee budget forecasting and preparation, analysing financial trends to make projections.
- Ensure that monthly financial statements and management information are prepared and submitted in a timely manner to enable management/the Board to review and guide the company’s operations effectively.
- Manage account balances and ensure up to date account reconciliations.
- Manage the annual external audit process to ensure it is effectively and efficiently completed for a clean audit report consistent with comprehensive implementation of smooth operating systems within the company’s operations.
- Ensure timely issuance of LCs to suppliers to avoid product delays.
- Handle the implementation of effective financial management system and ensure (Factura) reports are up to date.
- Devise innovative ways to raise capital from the capital market and share with GM and the board for consideration.
- RISK MANAGEMENT
- Establish and maintain relationships with RMs and Regulatory bodies, stakeholders to help mitigate product release issues.
- Engage GM on pricing and risk assessment for each product/transaction.
- Liaise with Trade and Business Development Teams to determine client credict limit based on finance SOPs and client payment analysis as and when required.
- ADMINISTRATION & COMPLIANCE
- Manage the finance team by offering support and liaising with HR to determine training, development opportunities for the department.
- Ensure the effective implementation of finance policies and procedure. Liaise with HR and General Manager for periodic review and sign off.
- Partner with General manager to complete all documentations/requirements for insurance bonds and ensure accurate sign off on transactions.
- Ensure the finance department completes timely filing of statutory return and compliance with all regulatory financial requirements. (taxes, SSNIT, Pension fund, petty cash administration, payroll, all statutory and regulatory payments)
- FOREX RISK MANAGEMENT
- Advise trade team on Forex risk and adopt strategies to manage the forex exposure on each transaction.
- Responsible for sourcing forex locally and internationally (banks & other markets) to meet trade demands at competitive pricing.
- Observe forex and financial market trends and advise trade team on opportunities and liquidity risk.
- Devise innovative ways to raise capital from the capital market and share with GM and the board for consideration.
- QUALIFICATIONS:
- Due to the need for strong financial management and accounting skills, the ideal candidate should be professionally qualified accountant with current membership and designation of Chartered Accountant, or Certified Management Accountant.
- Computer literacy, particularly using accounting software is a must. (Factura preferred)
- A bachelor’s Degree (with 8 years management level experience in oil & gas) in Finance, Accounting, or other relevant field. Master’s degree preferred.
In addition to experience in Oil and Gas finance, the successful candidate should have the following knowledge, skills and abilities (KSAOs):
- Attention to detail.
- Planning and problem-solving skills.
- Excellent written and oral communication skills and the ability to write reports and explain complex financial concepts.
- Excellent computer skills in MS Office, database management, accounting software.
- Ability to build and maintain strong professional relationships – for influencing and negotiations. (banks, insurance markets, other capital markets)
- Leadership skills for effectively managing the finance team and supporting management team.
- Credit and Risk Management Experience
- Ability to effectively establish LCs and its efficient management within credit/payment terms.
- Knowledge in investment banking is an added advantage.
Interested qualified candidates should send their CVs and application letter to careers@rhema.energy latest by February 10, 2024.
Only shortlisted candidates will be contacted latest thirty (30) days after the deadline.
