Finance Business Partner – Technical at Promasidor Nigeria

Posted on Mon 11th Nov, 2024 - hotnigerianjobs.com --- (0 comments)

Promasidor - We are an African company proud of our heritage and totally committed to the continent. We manufacture, market and sell unique brands which bring practicality and pleasure to millions of consumers across Africa.

We are recruiting to fill the position below:

Job Title: Finance Business Partner – Technical

Location: Lagos
Job type: Full-time

Job Objectives

The primary purpose of the Finance Business Partner for Technical functions is to provide strategic financial guidance, analysis, and support to the Production, Engineering, Workshop, and Quality Assurance teams.
This role ensures that financial considerations are integrated into the decision-making processes, driving operational efficiency, cost management, and overall business performance.
This shall be executed through the following functional areas.

Key responsibilities
Management Accounting Functions:

Provide leadership and quality supervision for the Business support team including Technical, Supply Chain and Commercial.
Act as a financial advisor to business unit leaders, providing insights, hindsight and recommendations to drive cost and efficiency performance across the business
Collaborate with cross-functional teams to provide financial support for key business initiatives and projects.
Coordinating and preparation of the company’s operational master budget annually and involve in standard setting across the company.
Coordinate and facilitate the preparation of the company’s quarterly and mid-year forecast and financial projections
Ensure accurate and successful uploading of budget figures from excel model into the company’s ERP
Ensure effective implementation of budgetary control and effective monitoring
Undertake detailed analysis of variances, underscore the root cause and recommend necessary action points for cost improvement
Liaising with budget holders to ensure all keep to the budget rules and agreed cost
Ensure integrity of accounting entries in the company’s records through understanding of budget mapping
Undertake detailed review of the P&L and Balance Sheet accounts and bring to the management noted areas of concern for corrective measures
Preparation of ad hoc report for management use, including building business cases, scenarios planning, profit and cost simulations and sensitivity analysis for informed decision making. This is to support business cases for new product launches, market expansions, and other growth initiatives and perform post implementation appraisals
Monitor adherence to the financial and accounting control procedures
Preparation of management reports including product gross margin analysis
Lead a team of FP&A professionals, providing mentorship and development opportunities.
Prepare detailed financial reports and presentations for executive leadership and board meetings.
Industry Analysis of related and competitors published accounts.

Accruals/provisions:

Update monthly provisions and accruals in local books.
Update monthly provisions in management reports.
Ensure adequate provisions to avoid overstatement of our profit.

Analyze OPEX:

Deliver monthly OPEX analysis and reporting
Advise on areas of OPEX improvement
Drive cost saving initiatives

Business Support Functions:

Sales/Revenue Management
Prepare, Analyze and Report Monthly Revenue and Naked Margin
Ensure Price compliance (Approved vs Actual price).
Perform profitability appraisal – brands, customers, etc.
Validate approval of all sales discounts and ensure all sales promotions are duly applied as approved.

Marketing:

Assist in ensuring the accuracy and completeness of Marketing accruals and provisions and efficient and effective information on marketing spend.
Analyzing Marketing cost (ATL/BTL) by brand.
Advise Marketing team on marketing/Finance related issues.
Monitor and approve marketing spend initiatives and evaluate post deployment appraisals
Support management team and the Heads of Department with data-driven analysis
Implement a business intelligence tool and dashboard reports.

Supply Chain:

Develop and maintain financial models and forecasts for the supply chain function
Monitor and analyze supply chain performance metrics (e.g., inventory turnover, procurement costs, logistics expenses)
Provide financial insights and recommendations to support strategic decision- making
Identify cost-saving opportunities and implement process improvements within the supply chain
Analyze and control supply chain costs, including procurement, transportation, warehousing, and inventory holding costs.
Identify cost reduction opportunities and implement cost-saving measures.
Identify and assess supply chain risks (e.g., supply disruptions, price fluctuations,
currency exchange risks)
Participate in supply chain process improvement initiatives
Implement best practices and technologies to enhance supply chain efficiency

Technical:

Develop and maintain financial models and forecasts for the technical department
Conduct cost-benefit analysis for technical projects and initiatives
Monitor and analyze operational performance metrics (e.g., production costs, labor efficiency, quality costs)
Identify cost-saving opportunities and implement process improvements within the technical department
Provide financial insights and recommendations to support strategic decision- making
Identify cost reduction opportunities and implement cost-saving measures
Develop project budgets and track project performance against financial targets
Develop mitigation strategies to minimize the impact of technical risks
Leverage financial analysis to identify opportunities for process optimization

Project Management Office

Support PMO project appraisals, providing complete and accurate project and investment appraisals for timely delivery of required output.
Advise Project managers on PMO/Finance related issues.
Building business cases with proper calculation of NPV, IRR and payback periods for an informed decision making

Job Requirements