Reporting to the Managing Director, the Finance Manager will oversee all financial operations of Mulindi Factory Company (MFC), ensuring effective management of financial resources, maintaining compliance with financial regulations, and supporting strategic business decisions. The role involves providing financial insights, managing budgets, preparing financial reports, and ensuring that the financial performance aligns with the MFC’s objectives. The role requires close collaboration with the management team, board of directors, and relevant stakeholders to ensure effective financial management and sustainability.

Key Responsibilities

Strategic Financial Planning

Collaborate with the factory’s senior leadership to develop long-term financial strategies, aligning financial goals with business objectives.
Assist in the development and update of financial policies and procedures, pricing strategies, financial forecasting, and strategic planning to ensure sustainable business growth.
Provide financial advice and insights to support new business initiatives, capital investments, and expansion plans for the factory.

Financial Management

Oversee the financial operations of the tea factory, including accounting, budgeting, tax planning and financial reporting.
Oversee the budgeting process, ensuring alignment with business plans, and regularly update management and the board on any significant changes or deviations .
Monitor cash flow, working capital, and other key financial metrics, ensuring the factory’s financial health.
Supervise the preparation of monthly, quarterly, and annual financial reports, ensuring timely submission to senior management and stakeholders.
Manage banking relationships and develop strategies to improve cash positions, including negotiating favorable exchange rates for foreign currency when necessary and other treasury management operations.
Manage relationships with external auditors, ensuring that audits are conducted efficiently and in compliance with regulatory standards.
Monitor the implementation of the external auditor’s recommendations and update the Board on the implementation progress.
Oversee the factory’s receivables and payables management, ensuring that receivables, borrowings and payables are managed effectively according to MFC’s policies and procedures.
Set up the sound internal control system aligned with business environment of MFC

Cost Control and Financial Analysis

Work closely with production and operations teams to analyze and control production costs, including raw materials, labor, and overhead.
Conduct financial analysis to identify areas of cost reduction and efficiency improvements across the factory’s operations.
Track key performance indicators (KPIs) related to financial and operational performance and report findings to management.
Support decision-making by providing financial insights and forecasts for the factory’s operations, helping to optimize resources and improve profitability.

Inventory and Asset Management

Oversee the inventory management, ensuring timely and accurate stock valuations and appropriate cost accounting for raw materials and finished goods.
Monitor capital expenditures, ensuring proper allocation and utilization of resources, including equipment and factory assets.
Maintain and regularly update the factory’s Asset register
Implement and oversee an effective inventory control system to track raw materials, work-in-progress, and finished products.

Compliance and Regulatory Requirements

Ensure compliance with local labour and tax laws, financial regulations, and industry standards, including proper tax filings, reporting to relevant authorities and compliance audits.
Maintain up-to-date knowledge of financial and tax regulations affecting the tea industry and manufacturing sector.
Oversee the preparation and submission of tax returns and other regulatory filings, ensuring all payments are made on time and in compliance with the law.

Reporting and Documentation

Ensure the accurate preparation and maintenance of all financial records, reports, and documentation in accordance with company policies and legal requirements.
Provide detailed financial reports to the Managing Director and Board of Directors, highlighting key financial trends, challenges, and opportunities.
Coordinate the preparation of the annual financial statements and work closely with auditors to ensure accuracy and compliance.

Team Management and Development

Lead and develop the finance team, providing training and guidance to enhance their skills and ensure efficient financial operations.
Ensure that all team members are aligned with the factory’s financial goals and contribute effectively to achieving them.
Foster a collaborative environment with other departments to ensure that financial considerations are integrated into all decision-making processes.
Develop and implement the capacity building plan to the team members

Key Qualifications

University degree in Finance, Accounting, or a related field with full CPA ,ACCA or CIMA qualification is required, while possession of an MBA is also strongly preferred.
At least 8-10 years professional financial experience in the private sector, 4 of which should be in a comparable senior management capacity (e.g. controller, Finance Manager, Finance Director), preferably within an agriculture related environment, handling broad financial and commercial management activities (accounting, budgeting, control, and reporting).
Strong knowledge of relevant International Financial Reporting Standards (IFRS), cost control, and budgeting processes.
Familiarity with the tea production process or agricultural manufacturing is an advantage.
Experience with enterprise resource planning (ERP) systems and financial modeling.
Strong understanding of tax laws, financial regulations, and compliance requirements.
Proficient in accounting software and Microsoft Office Suite (Excel, Word, PowerPoint).
Strong analytical and problem-solving skills, with the ability to interpret financial data and make strategic recommendations.
Ability to lead, work independently and collaboratively across various functions with professionalism and integrity, whilst overseeing a portfolio of activities at the executive level to ensure tasks are completed and the needs of the business are met.
Strong communication skills, both verbal and written, with the ability to present financial information to senior management and stakeholders clearly and effectively.

Location

The role shall be based full time at the Mulindi Factory Company in Gicumbi District, Northern Province.

Job Application procedure

All interested and qualified candidates are invited to send their applications with a cover letter, Curriculum Vitae, copies of their academic and professional certificates no later than 7th February 2025.

Finance Manager

Description

About this role

Classification

Required Skills