Finance Manager - Rhema Energy Company Limited



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Finance Manager - Rhema Energy Company Limited





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1. Patiently scroll down and read the job description below.

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We are a bulk oil distribution company (BDC) operating within the downstream sector of Ghana’s oil and gas industry. We are a people company and we empower our people to act in the interest of the customer across all aspects of our service delivery in the energy value chain. We believe in teamwork and are committed to integrity in all of our dealings.

Job Description

  • Department / Unit: Finance
  • Duty Post: North Ridge – Accra, Ghana Reports Directly to General Manager

Job Summary

The primary function of the Finance Manager (FM) is to plan, design and co-ordinate the implementation of sound accounting and financial management as well as control systems and procedures for all operational areas and to facilitate the maintenance of accurate and up to date financial and accounting records for effective and smooth running of Rhema Energy businesses.

The remit of the role includes budget forecasting, investment, risk management, cost-cutting, and pricing. As a manager, he/she will partner with Human Resources to lead, train, and motivate the finance team to deliver on the mandate of the department. The ideal candidate is also tasked with developing new strategies or plans to improve the company’s overall financial health.


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The FM will be tasked with investigating ways to improve profitability and analyze markets (trade, forex exposure, financial instruments, banking activities) to mitigate risk and identify business opportunities. At Rhema Energy, the finance manager will typically partner with Management Team members to make strategic decisions that impact the bottom line. These responsibilities include but are not limited to the following:

FINANCE & ACCOUNTING

  • Manage all aspects of the financial accounting system, including managing cash flow, tracking expenditures, and preparing monthly financial reports.
  • Oversee budget forecasting and preparation, analysing financial trends to make projections.
  • Ensure that monthly financial statements and management information are prepared and submitted promptly to enable management/the Board to review and guide the company’s operations effectively.
  • Manage account balances and ensure up-to-date account reconciliations
  • Manage the annual external audit process to ensure it is effectively and efficiently completed for a clean audit report consistent with comprehensive implementation of smooth operating systems within the company’s operations.
  • Ensure timely issuance of LCs to suppliers to avoid product delays.
  • Handle the implementation of an effective financial management system and ensure (Factura) reports are up to date.
  • Devise innovative ways to raise capital from the capital market and share with GM and the board for consideration

RISK MANAGEMENT

  • Establish and maintain relationships with bank RMs and Regulatory bodies, and stakeholders to help mitigate product release issues.
  • Engage GM on pricing and risk assessment for each product/transaction.
  • Liaise with Trade and Business Development Teams to determine client credit limit based on finance SOPs and client payment analysis as and when required.

ADMINISTRATION & COMPLIANCE

  • Manage the finance team by offering support and liaising with HR to determine training, and development opportunities for the department.
  • Ensure the effective implementation of finance policies and procedures. Liaise with HR and the General Manager for periodic review and sign-off.
  • Partner with the General manager to complete all documentation
  • /requirements for insurance bonds and ensure accurate sign-off on transactions.
  • Ensure the finance department completes timely filing of statutory returns and compliance with all regulatory financial requirements. (taxes, SSNIT, Pension fund, petty cash administration, payroll, all statutory and regulatory payments)

FOREX RISK MANAGEMENT

  • Advise trade team on Forex risk and adopt strategies to manage the forex exposure on each transaction.
  • Responsible for sourcing forex locally and internationally (banks & other markets) to meet trade demands at competitive pricing.
  • Observe forex and financial market trends and advise the trade team on opportunities and liquidity risk
  • Devise innovative ways to raise capital from the capital market and share with GM and the board for consideration


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Required Skills or Experience

  • Due to the need for strong financial management and accounting skills, the ideal candidate should be a professionally qualified accountant with current membership and designation of Chartered Accountant, or Certified Management Accountant.
  • Computer literacy, particularly using accounting software is a must. (Factura preferred)
  • A bachelor’s Degree (with 8 years management level experience in oil & gas) in Finance, Accounting, or other relevant field. Master’s degree preferred.

In addition to experience in Oil and Gas finance, the successful candidate should have the following knowledge, skills and abilities (KSAOs):

  • Attention to detail.
  • Planning and problem-solving skills.
  • Excellent written and oral communication skills and the ability to write reports and explain complex financial concepts.
  • Excellent computer skills in MS Office, database management, and accounting software.
  • Ability to build and maintain strong professional relationships – for influencing and negotiations. (banks, insurance markets, other capital markets)
  • Leadership skills for effectively managing the finance team and supporting the management team.
  • Credit and Risk Management Experience
  • Ability to effectively establish LCs and their efficient management within credit/payment terms.
  • Knowledge of investment banking is an added advantage.
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