Assistant Finance Manager (AFAM001)
Jobs at:260 Brands Zambia limited
Deadline of this Job:
Friday, July 28 2023
Date Posted: Sunday, July 23 2023, Base Salary: Not Disclosed
The Assistant Finance Manager plays a vital role in an organization by overseeing the cost accounting activities and providing financial analysis to support strategic decision-making. This position requires a strong understanding of accounting principles, cost analysis, and financial reporting. The Assistant Finance Manager collaborates with cross-functional teams, including operations, procurement, and finance, to ensure accurate and timely cost information is available to management and internal control are properly followed.
Cost Analysis and Reporting:
• Develop and maintain cost accounting systems, processes, and standards.
• Analyze manufacturing costs and variances to identify areas for cost reduction and process improvement.
• Prepare detailed cost reports and profitability analysis for products, projects, and business units.
• Monitor and evaluate inventory valuation, ensuring accuracy and compliance with accounting standards.
• Collaborate with operations and procurement teams to assess cost implications of new products, process changes, and supply chain initiatives.
Budgeting and Forecasting Projects:
• Collaborating with project managers and stakeholders to develop project budgets and financial forecasts and ensure that budgets are aligned with project objectives and monitor financial performance throughout the project’s duration.
• Tracking project expenses and ensuring that they are within budgetary limits. They analyze cost variances, identify potential cost-saving opportunities, and implement cost-control measures.
• Generating regular financial reports for project stakeholders, management, and external parties. These reports provide insights into the project’s financial status, expenditures, and financial performance.
• Ensuring proper recognition of project revenue based on the completion of milestones or other relevant criteria. They follow accounting standards to recognize revenue accurately.
• Preparing invoices and billing clients or project partners for goods and services rendered. They ensure that billing is done accurately and timely to maintain cash flow.
• Utilizing specialized SAP Project accounting modules within the organization’s financial system to manage project-related financial data efficiently.
• Managing the financial aspects of project closure, including final invoicing, reconciliation of project costs, and preparation of financial reports for project evaluation.
Financial Analysis and Decision Support:
• Conduct financial analysis to support strategic decision-making.
• Perform cost-benefit analysis for investment proposals, capital projects, and process improvements.
• Evaluate financial performance and recommend actions to optimize profitability.
• Provide financial insights and recommendations to senior management and cross-functional teams.
Compliance and Internal Controls:
• Ensure compliance with accounting principles, standards, and regulations.
• Participate in internal and external audits, providing required information and explanations.
• Implement and maintain effective internal controls related to cost accounting processes.
• Identify risks and recommend improvements to enhance the accuracy and integrity of financial data.
Financial Reporting and Analysis:
• Assist to Prepare and analyze monthly, quarterly, and annual management reports, including financial statements, budgets, and forecasts.
• Monitor key performance indicators (KPIs) and provide insights on financial trends, risks, and opportunities.
• Conduct variance analysis and provide explanations for deviations from budgets and forecasts.
• Collaborate with various departments and stakeholders to gather financial data and insights.
• Work closely with accounting teams to ensure accurate and timely financial reporting.
• Provide financial guidance and support to non-finance teams, assisting in decision-making and performance evaluation.
• Present financial information and reports to senior management, explaining complex concepts in a clear and concise manner.
Compliance and Risk Management:
• Ensure compliance with accounting principles, regulations, and internal control standards.
• Participate in internal and external audits, providing necessary information and addressing audit findings.
• Assess financial risks and implement measures to mitigate them.
• Continuously monitor and improve financial processes and controls.
Financial Reporting and Compliance:
• Ensure accuracy and completeness of financial records and transactions, including journal entries, reconciliations, and adjustments.
• Monitor compliance with accounting standards, regulations, and internal control policies.
• Participate in internal and external audits, providing required information and addressing audit findings.
• Collaborate with other departments to gather financial data and support the reporting process.
• Oversee the general ledger and sub-ledger systems, ensuring accurate recording and classification of financial transactions.
• Conduct month-end and year-end closing procedures, including accruals, prepayments, and reconciliations.
• Analyze and reconcile complex accounts and financial discrepancies.
• Review and approve journal entries and adjustments prepared by the accounting team.
• Maintain and update accounting policies, procedures, and documentation.
Team Leadership and Development:
• Provide guidance and mentorship to junior accounting staff.
• Conduct performance evaluations and provide feedback on individual and team performance.
• Foster a collaborative and high-performance work environment.
• Stay updated on industry best practices and share knowledge with the team.
• Continuously develop professional skills and knowledge through training and self-study.
Key Qualifications & Requirements
1. Bachelor’s degree in Accounting, Finance, or a related field. A Master’s degree or professional certification (e.g., CMA, CPA) is a plus.
2. Applicable professional qualification in the following is mandatory:
3. Hand on experience in a ERP system. SAP is preferable.
4. Excellent knowledge in Excel
5. Minimum five years of progressive experience in management accounting or financial analysis..
6. Strong knowledge of cost accounting principles, methodologies, and best practices.
7. Proficiency in financial analysis, budgeting, and forecasting.
8. Advanced skills in MS Excel and financial software/systems.
9. Excellent analytical and problem-solving abilities.
10. Ability to work collaboratively with cross-functional teams.
11. Strong business acumen and understanding of strategic financial management.
12. Minimum five years of progressive experience in cost accounting, preferably in a manufacturing environment.
13. Solving Problems and Getting Results
14. Accept responsibility for resolving a problem to its final conclusion, and developing preventive measure plans.
15. Assist in the achievement and the on-going improvement of business results.
16. Do not accept and deal with poor performance and drive processes to achieve business goals.
17. Strive to achieve agreed deadlines and standards, especially when the going gets tough or the anticipated situation changes.
18. Apply a systematic problem-solving approach to identify causes, explore alternatives and recommend the best course of action to resolve the problem now and into the future.
1. Remain up to date in your area of specialty or expertise
2. Apply a body of knowledge and experience to current business situations in order to add value and improve business efficiencies and profitability
3. Apply technical or specialist expertise and experience for the benefit of the organisation and consider the context in which these are applied
4. Ensure that your functional expertise supports that of other experts, rather than being in competition with them (e.g. colleagues)
5. Persuade or negotiate with others by relying on technical or specialist knowledge and experience;
6. Present documented material or proposals in a credible and professional manner
7. Share the technical implications of a situation with non-specialists, or explain it to them
The ideal candidate must be able to:
1. Speak English clearly and confidently i.e. must be articulate;
2. Listen actively to fully understand the other person’s view or perspective;
3. Tailor feedback to the specific needs and communication styles of others;
4. Prepare effective presentations and where required, concisely present/communicate a complete and accurate picture of the current situation or of the company’s products and services;
5. Develop and maintain two-way communication with a variety of people at different levels both within and outside the organisation;
6. Suggest proposals to address vital concerns and important business issues; and
7. Build a network of relevant role-players both within and outside the organization.
Job Experience: No Requirements
Work Hours: 8
Experience in Months:
Level of Education: Bachelor Degree
Job application procedure
• For all interested candidates, please email a cover letter and resume as well as any other relevant supporting documents to firstname.lastname@example.org, with ‘Payroll Clerk” in the subject line.
• Please also fill in the short candidate assessment survey here.
• All interested candidates that meet the requirements to send their documents to email@example.com by 28 July 2023.
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