Finance Manager at a Foremost Luxury Goods Company - Fadac Resources Limited

Fadac Resources Limited - Our client, a foremost luxury goods company, is recruiting to fill the position below:

Job Title: Finance Manager

Location: Lagos
Employment Type: Full-time
Industry Requirements: Banking, Luxury Retail, FMCGs

Job Responsibilities

• Develops adequate processes and procedures for cost control functions to maintain efficient operational excellence.
• Determines the actual landed cost of each product by looking at all expenses within the supply chain and comparing the landed cost with the supplier’s recommended retail price (RRP) and on that premise advises management of the recommended selling price (RSP).
• Analyze and update recommended selling prices periodically or as management and product suppliers advise.
• Carry out financial analysis and evaluation of product costs, costs of sales, and other overheads, compare actual costs to estimates, analyze variances, and generate relevant information for management decision-making.
• Assist in the improvement of internal and financial controls related to product costing.
• Work closely with relevant process owners to obtain the necessary information required for compilation, documentation, and analysis of costs.
• Analyze products' actual landed costs, and cost of sales and determine the gross margin and product profitability.
• Conduct monthly cost reviews for all brands, providing adequate documentation.
• Prepare detailed monthly cost analysis and track actual margin against targeted margin.
• Recommending changes to the company’s processes and policies to reduce cost and maximize profit.
• Advise management on appropriate costing based on financial data and cost metrics.
• Identify scope and execute strategic price improvement initiatives with product insight on market analytics, pricing, and cost.
• Assist in budget preparation, profitability analysis, reviewing financial records, researching of market rates for key business costs, providing data for stable budget developments, allocating indirect costs to internal processes, and detailed analysis and evaluation of direct cost drivers.
• Work with the Executive Director and Head of Finance for the determination of the minimum gross margin required for all company product sold across all branches.
• Use business acumen and technical knowledge to develop and deliver business Intelligence solutions for internal customers.
• Prepare monthly, quarterly, and annual cost forecasts and analyze profit margins.
• Assist in month-end and year-end closing.
• Analyze payroll advice and process monthly payroll input in Excel and document it in the Sage ERP solution.
• Process and remit staff salaries, wages, allowances, bonuses, and other staff-related expenses as may be required on a monthly and annual basis.
• Manage the administration and remittances of statutory deductions such as Pension, PAYE, ITF, NSITF, and other statutory dues to the relevant collecting bodies.
• Generate monthly and periodic payroll-related reports for Management decision-making.
• Support the annual budget preparations.
• Compute terminal/ exit benefits and remit as necessary and as provided for by regulations.

Job Requirements

• Bachelor's Degree / HND in Accounting, Finance, Economics, Business Administration or a related field
• Professional Qualification (ACA, CIMA, ACCA)
• Minimum of 8 years’ experience of which 3 years have been in senior management in the Retail or FMCG industries.
• Costing and forecasting skills
• Ability to effectively manage competing deadlines for projects in a high-pressure work environment.
• Excellent written and spoken communication skills.
• Proficient use of Microsoft Office Packages and ERP.

Application Closing Date
20th October, 2024

How to Apply
Interested and qualified candidates should send their application to: [email protected] using the Job Title as the subject of the mail.