No economy grows without the use of credit and there is no example of any advanced society without the use of credit. Credit at whatever level of sector, if not properly managed could spell doom for an economy. As we are all aware, for the economy to grow to the point of providing desired jobs and wealth creation, there must be credit extension at all levels of industrial and commercial activities. But credit business extended or granted under a sloppy arrangement is an evil worse than an economy driven by a cash-and-carry regime. All over the world, businesses extend credit to each other, but successful management of these credits has been hampered, abused to a large extent following lack of standards, unethical conducts, insider’s abuse resulting to sharp practices in the industry. Evidencing that there is a systematic absence of regulation and protection of relationships between debtors, creditors, and managers of credit. In other countries of the world where economy is driven by credit system, national institutes for credit are in place to regulate, set standards, moderate ethical conducts and build capacity of the people involved in managing, controlling and monitoring credits at all levels of commercial or business credit activities. The incidence that triggered the world economic and financial meltdown in years back stemmed largely from proper attention that was not paid to sound and disciplined credit management system, thus re-enforcing the need for every country to provide necessary safeguards and infrastructures to protect local credit market economy. In order to foster development of credit management in Nigeria and Africa, and to ensure that standards are set based on best practices in professional and ethical conducts, as well as provision of services geared towards enhancing skills and capacity building of those involved in credit functions, the Institute of Credit Administration (ICA) was established as a non-profit organization in 1992 and got its legal status as a body limited by guarantee under the law of Nigeria in year 2002. The institute’s Bill for charter scaled through and was passed into Law at the Nigeria’s Federal House of Representatives in 2009.
- Job Type: Full Time
- Qualification: BA/BSc/HND
- Experience: 7 – 7 years
- Location: Lagos
- Job Field: Finance / Accounting / Audit
- Salary Range: ₦200,000 – ₦300,000/month
Job Summary
- Adequately handle the account department, Prepare financial reports to aid management decision making and ensure compliance with regulatory standards.
- Oversee reconciliation of bank account statements.
- Maintain accurate and up-to-date financial records and accounts for the company
- Oversee the maintenance of the fixed asset records and ensure proper accounting for fixed assets.
Key Duties And Responsibilities :
- Preparation of monthly financial reports
- Provide supervisory roles to all Finance team members
- Reversal and corrections of wrong postings and entries
- Posting period Journals (Provisions, Accruals & salary Journals)
- Post lifting bonus Accrued for the Month – while approval process is on. And posting actual bonus and rebate approved
- Review Prepayment Schedule and post Recurring JVs on all Prepayment Balances. Ensure that new Prepayments are updated on Excel Prepayment Schedule.
- Ensure that all previous provision & accrual are still relevant while those already settled are released.
- Post recurring entries (each entity should have list of recurring entries
- Prepare SFP analysis (Vendor, Debtor age analysis & Related Party Transactions)
- Preparation of balance sheet notes
- Any other duties that may be assigned
- Review of accounts in general looking out for reasonableness of figures produced by the system (SAP)
- Make accruals for all services received but not invoiced
- Review & Reconcile Payroll Summary Report to the GL Accounts.
- Prepare & Submit Comments on the Net Income Statements for Review
- Any other duties that may be assigned.
REQUIREMENTS:
Education & Experience:
- Bachelor’s degree or its equivalent in Accounting, Finance, Economics or other related discipline.
- Working knowledge/ experience in the use of financial systems including SAGE, TALLY, SAP, etc.
- Relevant professional certification (e.g. ACA, ACCA, CIMA,)
- Minimum of Seven (7) years relevant work experience.
- Good understanding of micro and macroeconomic indices and their impact on the cement business.
- Intermediate to advanced knowledge of FIRS, finance best practices and other applicable reporting and accounting standards.
Skills & Competence
- Good understanding of trends, challenges, opportunities, regulations and legislations relating to the cement manufacturing industry.
- Proven experience in planning, budgeting and forecasting activities.
- Very sound business acumen – financial and commercial knowledge.
- Strong communication and presentation skills.
Method of Application
Interested Candidates should send in their application, using the “Job Title” as subject to: thenicarecruitment@gmail.com