- Job Title: Chief Financial Officer
- Reports To: Board of Olympic Group Limited
The Chief Financial Officer (CFO) of Olympic Group Limited has primary responsibility for the planning, implementation, managing and running of all the finance activities of the companies, including business planning, budgeting, forecasting and negotiations. The CFO will also be responsible for obtaining and maintaining potential investment relations and partnership compliance.
CFO main duties and responsibilities of the job
Financial management, developing financial strategy, including risk minimization plans and opportunity forecasting.
High – level financial reporting and analysis:
- Summarizing current financial status preparing profit and loss statement, balance sheet and other financial reports that may be required by management and creditors. Accounts for the companies would be prepared quarterly, half-yearly and annually. Monthly accounts for individual companies are to be reviewed by CFO.
- Substantiating financial transactions by reviewing and /or auditing financial documents.
- Maintaining financial security by ensuring that adequate internal controls and segregation of duties are in place.
- Preparing, examining, and analyzing accounting records, to assess accuracy, completeness, and conformance to reporting and procedural standards.
- Review of Bank Reconciliation by accountants for individual companies and account maintenance and ensure contemporaneous period closures for all group companies.
- Oversight of the reconciliation of financial discrepancies.
- Development and oversight of a group performance KPI dashboard
Cash Flow management:
- Monitoring short-term rolling cash flow report prepared by accountants for individual companies) – addressing to concerns in a timely fashion and being proactive rather than reactive in this regard
- Improving efficiencies and reducing costs across businesses.
- Reporting to management and stakeholders and providing advice on how the company and future business decisions might be impacted.
- Supervising staff across multiple businesses.
- Protect the corporate groups value by keeping information confidential.
- Reviewing, monitoring and managing budgets.
- Predicting future financial trends, increase in base costs and repricing, underlining interest rates etc.
Debt management and collection:
- Collaborating with company accountants to manage company loans and receivables ensuring payments/receipts are not outstanding at critical period ends.
- Participate in the development and management of vendors and customers’ contract where needed.
Risk and Compliance
- Working closely with management teams to share reports and analyze findings to drive efficiencies.
- Assist with ensuring compliance with statutory law and financial regulations.
- Managing companies’ insurance, bonds and investments.
- Developing financial strategy, including risk minimization plans and opportunity forecasting.
- Assist with screening of potential business deals by analysing market strategies, deal requirements, potential, financials, evaluating options, resolving internal priorities, recommending equity investments.
- Assist with closing of new business deals by coordinating requirements, developing, and negotiating contracts, integrating contract requirements with business operations.
- Ensure all major capital expenditures are properly appraised
- Responsible for the compilation of Business Plans or Business Development Plans with integrated P&L, BS, CF and Funds Flows when needed.
- Manage due diligence processes to ensure prepaid supplier are credit worthy.
IT and Business Process Reviews
- Drive regular systems reviews and ensure all accounting software is fit for purpose.
- Oversee IT strategy including broadband capacity and speed and cloud based systems that aid efficiencies.
Background Olympic Group Limited consists of 23 companies involved in Construction, Property Development, Shipping, Oil and Gas and Building Supplies.
Information The CFO will work within Olympic Group Limited, reporting to the Directors.
The workload will largely be generated by the strategic directives of the Director(s).
The post CFO has a major role in assisting the Managing Director. There will be notable liaising with clients, all key stakeholders, with Government agencies, the public, and the local businesses and individuals.
Olympic Group Limited is a collaborative team. Staff will work together to strategize and assist the Managing Director.
Knowledge, Experience, and Skills Essential
• AICPA, ACCA, GCMA, CIMA or Equivalent;
• Master’s Degree in relevant field.
• Must have 15 years of related professional business management experience and accounting experience in a combination of project management, customer/client management, and/or public relations. Must have 10 years’ minimum supervisory experience.
• Experience in construction, property development, shipping retail and hospitality an advantage
• Experience and/or familiarity with Human Resources principles and practices;
• Experience with consulting and/or coaching and enabling an asset.
• An excellent working knowledge of Group Accounting and US GAPP
• Ability to work with others within a team whilst leading the team
• Strong time management and organizational skills
• Strong supervisory and leadership skills
• Oral Communication: Effective individual and group engagement with a wide variety of individuals, organisations, and the general public.
• Written Communication: Ability to generate traditional and electronic correspondence
• Proficiency with Microsoft Outlook, Excel, Word, and PowerPoint.
• Bilingual: Ability to communicate in a common second language preferred.
• Ability to simultaneously empower and control the finance team staff within the group.
• Ability to execute the mission, vision, and values of the Olympic Group Limited
• Ability to act on own initiative and appropriate independent judgement.
Assignment and Planning of Work The post holder will plan and organise priorities in conjunction with the Companies’ Directors, which will be aligned with a strategic plan.
Supervision of Others The post holder will be responsible for supervising Olympic Group Limited business services activities. This includes direct responsibility for four supervisors, and their collective subordinates.
Other Working Relationships There is a great deal of interaction with clients, Government Departments, and various stakeholders as required by various client projects.
Authority and Controls
Post-holder exercises professional and administrative judgement in executing work as directed by the Olympic Group Limited Directors.
Problems/Key Features The post-holder is required to assist with a wide range of Olympic Group Limited matters and planned initiatives across a Group with annual revenues exceeding $ 60m and growing.
Working Conditions The post holder will be required to work to tight deadlines in order to successfully respond to clients and meet agreed goals. A normal but busy office environment.