The Head of Finance is responsible for overseeing all financial aspects of the company's operations. He /She plays a crucial role in developing and implementing financial strategies, ensuring compliance with regulatory requirements, and providing accurate and timely financial information to support decision-making processes. He /She is responsible for leading the company’s finance professionals and also working closely with other departments to drive financial performance and growth
1. Financial Strategy and Planning:
• Develop and implement the company's financial strategy in alignment with its overall business objectives.
• Conduct financial analysis, forecasting, and budgeting to support strategic decision-making.
• Identify areas for cost reduction, revenue enhancement, and operational efficiency improvement.
2. Financial Reporting and Analysis:
• Prepare and present accurate financial statements, reports, and analysis to the management team, board of directors, and stakeholders.
• Monitor and analyze financial performance, identifying trends, risks, and opportunities.
• Ensure compliance with accounting principles, regulations, and local statutory requirements.
3. Cash Flow Management:
• Oversee cash flow planning and ensure availability of funds for day-to-day operations.
• Implement effective working capital management practices, including monitoring receivables, payables, and inventory levels.
• Develop and maintain relationships with banks and financial institutions to optimize financing options.
4. Risk Management:
• Identify and mitigate financial risks through robust internal controls and risk management processes.
• Monitor market conditions and economic factors that may impact the company's financial performance.
• Implement strategies to manage foreign currency exchange risks, interest rate risks, and other financial exposures.
5. Team Leadership and Development:
• Lead and mentor the finance team, fostering a culture of continuous learning and professional growth.
• Set performance objectives, conduct regular performance reviews, and provide coaching and feedback.
• Foster effective cross-functional collaboration with other departments to achieve company goals.
6. Audit and Compliance:
• Coordinate and manage the external audit process, ensuring compliance with auditing standards and regulations.
• Maintain strong internal controls and ensure adherence to company policies and procedures.
• Liaise with external stakeholders, including auditors, tax authorities, and regulatory bodies.
7. Systems and Technology:
• Evaluate and implement financial systems and technology solutions to improve efficiency and accuracy.
• Stay updated with emerging trends and best practices in financial management and reporting.
