Chams PLC is Nigeria’s leading identity management and transaction payments systems solution provider.
Starting off as a privately owned business in 1985, we have evolved from computer and hardware maintenance to providing enterprise technology solutions in the identity management and transaction payments space to public and private sector institutions.
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;
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.
- 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.
- 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.
- 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.
- 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