THE ROLE

The Chief Financial Officer (CFO) provides both operational and programmatic support to the group. The CFO supervises the accounts and finance units of the group and is the chief financial spokesperson for the group. The CFO reports directly to the Chief Executive Officer (CEO) on all strategic and tactical matters as they relate to budget management, cost benefit analysis, forecasting needs and the securing of new funding. His duties include;

Strategy Function

The CFO plays a key strategic role in developing, monitoring and evaluating overall corporate strategy with the CEO or MD and leaders of the various business units with emphasis on bottom line performance, working capital and enhancing shareholder value. This position will provide useful financial insights to help make better decisions about formulating and executing strategy.

The CFO will Interact effectively with other subsidiaries in the group; He establishes himself and is viewed as a trusted business advisor by merchandisers, not just the CEO or MD. Critical outcomes include supporting the executive team with key financial information and operational analytics, and driving a culture of accountability in managing the business, adding value to operating businesses and voicing well-substantiated dissenting opinions. He performs his strategic function by fulfilling the following essential duties and responsibilities;

• He plays an integral part in formulating strategy,      challenging and assessing strategy, monitoring for risks, investment,      rates of return and assessing the competitive landscape.
• He assists in formulating the      company’s future direction and supporting tactical initiatives
• Monitors and directs the      implementation of strategic business plans, financial and tax strategies
• Develops      performance measures that supports the company’s strategic direction
• Proactively manage cash flows in a leveraged      environment
• Manages financial capital; communicate capital      requirements/ implications of business decisions to CEO, merchandisers and      BOD
• Conducts meaningful proactive analysis to improve      key business decisions focusing on management of working capital
• Manages the accounting, finance, and investor      relations departments
• Ensures efficient capital expenditures and minimizes      taxes
• He defines the financial strategy
• Provides useful financial insights to help make      better decisions about formulating and executing business strategy
• Establishes internal control processes required to      manage and grow the business
• Drives the annual budget process and monthly      reporting
• Manages and leads the organization in creating a competitive      advantage for all company businesses or products
• Effectively leads the finance / accounting team by      hiring and retaining top-grade talent
• Develops and coaches existing team and proactively      replaces underperformers as required
• Drives effective internal and external communication      interactions
• Effectively manages sponsors, banks, board of director      and financial advisor relationships
• As a true business partner to the      CEO/MD, he assesses organizational performance against both the annual      budget and company’s long-term strategy.
• He develops tools and systems      to provide critical financial and operational information to the CEO/MD      and make actionable recommendations on both strategy and operations.
• Engages the board finance,      audit, and investment committees around issues, trends, and changes in the      operating model(s) and operational delivery.
• Assists in establishing yearly      objectives and meeting agendas, and selecting and engaging outside      consultants (auditors, investment advisors).

• Oversees long-term budgetary planning and costs management in alignment with the company’s strategic plan, especially as the organization considers new business ventures, potential acquisitions, and collaborations with external organizations.

Executive Management Function

• Serves as a member of executive      leadership team in ensuring business decisions taken are grounded in sound      financial criteria.

• Participates      in key decision making pertaining to strategic initiatives, operating      model and operational execution.

• Represents the organization’s progress on strategic goals to external stakeholders

Financial Planning and Analysis Function

• Prepares and maintains regular      financial planning reports; Monthly profit and loss forecast by division      (vs. budget); Weekly 13 week cash flow forecast.
• Completes analysis of financial      results; Develops recommendations (strategic and tactical).
• Develops and executes analysis      of various business initiatives (e.g., opening new operations, asset      acquisition, new service or product launches).
• Develops and maintains capital      budget.
• Assists in development of      financial planning and analysis exercises/reports.

• Participates in correspondences with Lenders.

Finance Function

• Oversee cash      flow planning and ensure availability of funds as needed
• Oversee cash,      investments and asset management
• Oversee      Financing strategies and activities as well as banking relationships

• Develops and utilize forward looking predictive models and activity based financial analyses to provide insight into the organization’s operations and business plans

Planning, Policy and Investor Relations

• Provide      financial vision and leadership for all the subsidiaries in the group
• Responsible      for the financial aspects of risk assessment and abatement, strategic      planning and new program development
• Coordinates      the development and monitoring of all budgets
• Develops      financial business plans and forecasts
• Participates      in corporate policy development as a member of the senior management team
• Engages the finance      committee of the board of directors to develop short , medium and      long-term financial plans and projections
• Represent the      company to financial partners, including financial institutions, investors      foundation executives, auditors and public officials
• Maintains an      update on best practices, state and federal and laws regarding the I.T      industry.

Investor Relations

• Oversees the      issuance of financial information
• Personally      reviews and approves all forms and filings with the Securities and      Exchange Commission.
• Participates      in conference calls with the investment community
• Maintains all      banking relationships with company bankers as the Liaison officer

• Represents the company with investment bankers and investors

Accounting and Administration

• Effectively      leads the team of financial professionals and motivates the team for high      quality work as well as dedication to the mission of the organization
• Oversees the controller      or head of accounts in ensuring procedures and computer applications      system maintains proper records and affords adequate accounting      controls  and services
• Ensures      maintenance of appropriate internal controls and financial procedures
• Ensures      timeliness, accuracy and usefulness of financial and management reporting      for the stakeholders and Board of directors and oversees the preparation      and communication of regular and annual financial statements.
• Oversees the      coordination of audits and proper filing of tax returns
• Oversees the      analysis and consolidation of all cost allocations and procedures
• Ensures legal      and regulatory compliance regarding all financial functions
• Oversees and      directs all financial and pertinent statistical reporting

• As authorized by the Board of directors, he endorses tax returns, checks, contracts and other legal documents on behalf of the Corporation, customers and the general public

Planning and Budgeting

• Ability to prepare budgets
• Considerable knowledge of      Computerized accounting and accounting packages
• Ability to analyze and      interprete accounting and cost accounting records
• Ability to assemble, analyze      and prepare both routine and complex financial reports and statements
• Ability to apply accounting      principles to the solution of a variety of accounting or fiscal problems

• Ability to perform detailed work with written or numerical data and to make

Cash Management Function

• Oversees      weekly cash management; Approves weekly payables; Executes cheque signing
• Oversees AR      management and provides support to collections activities

• Grows equity value – increases gross profit and reduces debt.

Team Management

• Mentors and develops a direct team, manages work allocation, trainings, problem resolution, performance evaluation, and the building of an effective dynamic team.
• Guides larger, cross-divisional teams outside of direct span of control within the company’s strategic business units.

Corporate Development

• Represents      company in efforts with investment bankers and potential investors
• Prepares      various analysis and reports required by corporate development efforts

Mergers and Acquisitions

• Oversees and      supervises acquisition, due diligence and negotiates acquisitions.
• Leads the financial aspects of potential M&A      activity
• Leads the financial evaluation of mergers and      acquisition candidates
• Structures, negotiates, and finalizes purchase      agreements

International Funding Expertise

• Monitors Cash balances and cash      forecasts
• Arranges for Debt and equity      financing including souring for potential lenders
• Invests funds
• Maintains all banking      relationships with bankers on all transactions
• Creates funding for strategy      implementation and execution set by the MD/CEO
• Ensure controls are in place to manage commodity      positions and trading
• Develops processes and disciplines around monitoring      and assessing risk in positions
• Expands financial reporting systems to determine      daily and weekly gross profit estimates