Finance and Commercial Head

Job Description : FINANCE AND COMMERCIAL HEAD KENYA 20+ years experience The role reports to CEO of Packaging Company. Role will primarily in the development and review of existing business procedures, cash flow management, profitability and margin management, product costing and capital expenditure planning and review among other key duties. Main Responsibilities: · Reviews & develops business procedures that ensure integrity of reporting (Internal Control responsibility): · Inventory management & control o Sub ledger balancing & processes & controls to ensure integrity of recording at subledger level. · Monthly Reconciliation of all Balance Sheet accounts · Participation in and Timely resolution of all Audit issues raised by Internal and External Auditors · Cash flow management & Short-term funding requirements · Prepares rolling 12 month rolling cash forecasts to manage liquidity. · Escalates, well in advance, any anticipated Cash constraints with Vertical CFO. · Net working capital management & initiatives to ensure cash flow targets are met, especially inventory. · Profitability & Margin management · Regular (monthly) detailed analysis of Business Unit profitability, highlighting areas requiring focus & attention. · Driving & implementing initiatives & action to improve Gross Margin & business performance. · Detailed cost analysis, including plant performance & productivity measures. · Factory costs · Discount structures · Warehousing & distribution · Overheads · Factory OEEs or other plant performance tracking measures o Unpacking Warehouse & logistics costs to facilitate cost impro o Product, category & Customer profitability reporting & analysis. · Product Costings: · Ensure accuracy of product costings · Capital expenditure planning & review · Co-ordinating with the CEO, the Capital Expenditure budget for the Business Unit. · Guiding & ensuring appropriate investments by ensuring business cases for every investment decision with appropriate commercial evaluations. · Inventory Management: · Ensuring procedures & controls to manage Inventory & Inventory movements. · Establishing appropriate Inventory level targets & range. · Working with the Material Procurement teams to establish Optimal order quantity & reorder levels. · Inventory ageing analysis o Provisioning & writing-off of slow moving & obsolete stocks (Stock impairments) · Debtors Management · Working with Group Debtors to ensure collections on track. · Appropriately recording bad & doubtful debts (Debtors impairments) · Costing Management · Ensure RM prices updated monthly. · Check & ensure validity of product costings. · Check product and/or material costings at different locations to ensure net off. · Month end reporting & closing: · Ensure month end procedures in place to meet reporting requirements per closing timetable. · Ensure full & regular reconciliation of all Balance Sheet accounts. · Approval of month-end entries & provisions. · Management accounts completed per closing timetable requirements. · Business Unit Cash Management: · Cash Forecasting · Management of short term liquidity requirements · Tax, VAT & other Statutory requirements: · Liaise with HO to track & ensure all statutory requirements are delivered accurately & on time. · Budgeting & Forecasting · Co-ordinate & compile the Business Unit budgets, including Capital Expenditure Budgets as well as Financial Statements. · Finalise the Budget Financial Statements & targets. · Compile & complete regular updated forecasts as required by the group. · Fixed Asset Management · Maintenance of the fixed asset register · Calculation & processing of the depreciation entries · Maintenance of appropriate records for Deferred tax calculations. · Co-ordinating the annual physical asset verification exercise & impairment exercise. · Commercial · Lead on the procurement, participated regularly on the RM planning with the production planning function. · Keeping a track of pending purchase bookings and routine follow-ups. · Place Imports orders every month for quantities decided by GM, Production Planner and Production Manager with additional inputs from Sales persons for forecasts. · Approval of the purchase order, oversee the documentation and other needed approvals. · Maintaining the master related to procurement Like Vendors, Items etc. · Logistics · Approving import POs, IDFs and insurance applications. · Approving duty payments and creating in online banking · Approving transporter quotes and proving freight invoice amount for customers. · Keeping a track of shipments, LC and other foreign supplier payments. · Checking LC applications before Director signing o Approving import documents being sent for clearance. · Creating new items and changing price in masters. · Ensuring imports costing is in order. Qualification & Experience · Bachelors degree, CA / ACCA / CIMA (or equivalent) · Minimum of 20 years experience in finance with at least 5 years at Manufacturing companies · ERP Experience especially in SAP is an added advantage. · Working knowledge of internal controls specifically at manufacturing site level. · Assertiveness · Decisive · Resilient and energetic

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