Financial officer

Job Summary

The Financial Officer is responsible for managing the organizations financial operations including budgeting, forecasting, financial reporting, and ensuring compliance with financial regulations. This role plays a critical part in maintaining the financial health and sustainability of the organization.

Key Responsibilities

Financial Management

• Oversee daily financial transactions including accounts payable, accounts receivable, and payroll.
• Manage cash flow to ensure sufficient funds are available for operational needs.
• Prepare financial forecasts and budgets.

Reporting

• Prepare accurate financial statements including income statements, balance sheets, and cash flow statements.
• Generate monthly, quarterly, and annual reports for management and stakeholders.

Compliance and Audit

• Ensure compliance with local, regional, and international financial regulations and standards.
• Support external and internal audits by providing necessary documentation and analysis.

Strategic Planning

• Provide financial insights to support strategic decision-making.
• Monitor financial performance and identify areas for cost optimization.

Risk Management

• Assess financial risks and develop mitigation strategies.
• Implement and maintain internal controls to safeguard company assets.

Collaboration

• Work closely with department heads to develop budgets and financial plans.
• Liaise with external entities such as banks, auditors, and tax authorities.

Qualifications and Skills

Education

• Bachelor's degree in Finance, Accounting, Economics, or a related field. A master's degree or professional certifications such as CPA, CFA, or ACCA is a plus.

Experience

• Minimum of 5-7 years of experience in financial management or a similar role.

Technical Skills

• Proficiency in financial software (e.g. QuickBooks, SAP, or Oracle).
• Strong analytical and problem-solving skills.
• Advanced knowledge of Microsoft Excel and financial modeling.

Soft Skills

• Excellent communication and interpersonal skills.
• High attention to detail and organizational skills.
• Ability to work under pressure and meet deadlines.

Key Performance Indicators (KPIs)

• Timeliness and accuracy of financial reporting.
• Adherence to budgets and forecasts.
• Compliance with financial regulations.
• Efficiency in managing cash flow and reducing operational costs.