Chief Finance Officer - Lancaster University Ghana

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Job Description

Lancaster University Ghana (LUG) is looking for a dynamic, enthusiastic and self-motivated individual with passion to fill the position of Chief Finance Officer.                                                                                        

Job Summary

The Chief Finance Officer, oversees the management of the business from a Financial Control, Treasury (Cash Management), Governance, and Financial Strategy & Forecasting perspective.

• Financial Control: the role entails the oversight of financial record keeping, company legal and secretarial compliance.
• Treasury/Banking: Oversee and monitor cash management, banking function and cash flow.  
• Financial Strategy: Participate fully in achieving strategic goals, and the development of new business initiatives while ensuring alignment with strategic, risk and compliance requirements of the Company.
• Governance: Ensure compliance of all financial policies and statutory audits, and take actions and decisions that are in the best interest of Company.
• Reporting: the position requires collaboration across all departments and reports directly to the Vice Chairman/Board of Directors and administratively to the CEO.

Duties and Responsibilities

Finance

• Oversee the Finance department and ensure all reporting is done in terms of International Financial Reporting Standards (IFRS);
• Prepare financial statements; oversee audit for operating entities and at group level and report back to board of directors;
• Consolidate financial statements at group level;

• Preparing budgets, monitoring actual performance and reporting variances;
• Review and formulate accounting and financial procedures, policies and practices;
• Ensure that all companies have complied with the requirements relevant taxation authorities;
• Coach and mentor finance staff members;
• Establish and implement short and long range finance departmental goals, objectives, and policies and improve operating procedures;
• Review contracts to ensure the company’s risk exposure is minimised and that all contracts are financially sound;
• Ensure all insurances are prepared and renewed as per all statutory and contractual obligations of the company;
• Ensure that all rebates and other exemptions under the law for educational institutions are properly filed and documented;
• Ensure that all variations to any agreement follow due process and after approval from Board are properly documented

Treasury/Banking

• Forecast 12 month cash flow positions, related borrowing needs, and available funds for investment and report requirements to the Board;
• Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements;
• Use best practices to mitigate financial risks related to the interest rates on the company's borrowings, as well as on its foreign exchange positions;
• Maintain banking relationships;
• Assist in determining the company's capital structure;
• Arrange for working capital and debt financing as approved by the Board;
• Make recommendation to the Board on investing the available funds to avail best returns

Financial Strategy & Forecasting

• Manage processes for financial forecasting, budgets and consolidation and reporting to the Company
• Provide recommendations to strategically enhance financial performance and business opportunities.
• Ensure that effective internal controls are in place and ensure compliance with IAS & IFRS and applicable local regulatory laws and rules for financial and tax reporting;
• Provide Executive Management with advice on the financial implications of business activities;
• Evaluate viability of business plans regarding business expansion and operational efficiencies;
• Interact with Executive Management to provide support and recommendations through financial and management information analyses and reports.

Governance

• Be responsible for the statutory audit of the company and ensure a clean audit report
• Ensure compliance of all financial policies
• Responsible for all internal and external financial filing requirement and reporting all non-compliance
• Report any material matters to the Founders and Board as soon as they occur
• Ensure all financial reports are prepared and submitted to the Board well in advance of Board meetings
• Take all actions and decision that are in the best interest of the Company

Required Skills or Experience

*CV – assessed against the CV and Statement of Support. Evidence will be “scored” as part of the shortlisting process.

*Interview – assessed during the interview process by either competency-based interview, questions, tests, presentation etc.