Top Roles and Responsibilities
Rainbow Colors PLC is seeking an experienced, strategic, and results-driven Head of Finance to oversee our financial operations, financial strategy, and accounting practices. As a core member of the executive management team, you will be responsible for guiding financial decision-making, ensuring regulatory compliance, driving budget performance, and managing long-term financial growth
Financial Management and Leadership
- Lead and manage the overall Finance function of the Company.
- Ensure accurate, timely, and effective execution of accounting and financial activities.
- Establish and maintain sound financial controls, procedures, and accountability mechanisms.
- Provide financial guidance and professional support to management and other departments.
- Ensure appropriate segregation of duties and effective financial governance.
Financial Reporting and Analysis
- Prepare and review monthly, quarterly, and annual financial reports and management reports.
- Ensure accurate and timely preparation of financial statements and supporting schedules.
- Analyze financial performance, trends, variances, and key financial indicators.
- Provide management with clear financial analysis and implement for corrective action.
- Ensure financial information is complete, reliable, and available for management decision-making.
Budgeting and Financial Planning
- Coordinate the preparation of the company's annual budget and financial plans.
- Monitor actual performance against approved budgets and provide variance analysis.
- Identify significant financial deviations and recommend appropriate corrective measures.
- Support management in financial forecasting and business planning.
- Monitor budget utilization and ensure expenditures remain within approved limits.
Cash Flow and Treasury Management
- Prepare and monitor cash-flow forecasts to ensure adequate liquidity.
- Monitor cash balances, bank accounts, payments, and financial commitments.
- Ensure effective utilization and control of company cash resources.
- Coordinate banking activities and maintain effective relationships with banks and financial institutions.
- Monitor short-term funding requirements and provide timely recommendations to management.
Receivables, Payables and Working Capital
- Monitor customer receivables and ensure effective collection and follow-up mechanisms.
- Review aging reports and coordinate actions to reduce overdue receivables.
- Ensure proper control and timely settlement of supplier and other company payables.
- Monitor working capital and identify opportunities to improve cash conversion.
- Coordinate with Sales, Procurement, Stores, and other departments to strengthen working-capital management.
Cost and Expenditure Control
- Review expenditures and ensure compliance with approved budgets and authorization requirements.
- Monitor operating costs and identify opportunities for cost reduction and efficiency improvement.
- Review major purchases, commitments, and expenditures from a financial-control perspective.
- Ensure appropriate supporting documentation for all financial transactions.
- Promote financial discipline, accountability, and cost consciousness throughout the company.
Tax and Statutory Compliance
- Ensure timely and accurate preparation and submission of tax and statutory financial obligations.
- Monitor compliance with applicable tax laws, accounting requirements, and regulatory obligations.
- Coordinate tax assessments, audits, and related matters with relevant authorities and professional advisers where required.
- Ensure proper maintenance of tax records and supporting documentation.
- Keep management informed of material tax and compliance risks.
Internal Control and Risk Management
- Develop, implement, and continuously improve financial control mechanisms.
- Identify financial and operational control weaknesses and recommend corrective actions.
- Monitor compliance with company financial policies, procedures, and delegated authorities.
- Safeguard company assets and ensure proper control over cash, inventory, receivables, and other financial resources.
- Support internal and external audit processes and ensure timely follow-up of audit findings.
Inventory and Financial Control
- Ensure proper financial control over inventory and stock-related transactions including cost build up on.
- Coordinate with Stores and Operations on stock reconciliations, valuation, and identified variances.
- Monitor inventory-related financial risks, losses, and unusual movements.
- Ensure appropriate reconciliation between accounting records and operational records.
Management Support and Business Decision-Making
- Provide financial analysis and advice to the General Manager and management team.
- Assess the financial implications of major expenditures, contracts, investments, and business initiatives.
- Support pricing, profitability, cost, and commercial decisions through relevant financial analysis.
- Provide financial information required for strategic and operational decision-making.
- Highlight significant financial risks, opportunities, and performance gaps to management.
Audit, Systems and Process Improvement
- Coordinate internal and external audit activities and ensure timely responses to audit requirements.
- Ensure proper maintenance, accuracy, and security of accounting and financial records.
- Strengthen financial systems, reporting tools, and accounting processes.
- Promote appropriate use of accounting software and financial management systems.
- Continuously improve finance processes, reporting quality, efficiency, and internal controls.
Team Leadership and Development
- Lead, supervise, and develop the Finance teams of the Company.
- Set clear responsibilities, performance expectations, and work priorities for finance staff.
- Review team performance and provide coaching and professional development support.
- Promote accuracy, integrity, accountability, confidentiality, and professional discipline within the Finance function.
Coordination and Reporting
- Work closely with the General Manager, Corporate Finance, Sales, Procurement, Stores, HR, Operations, and other relevant functions.
- Submit required financial and management reports within established timelines.
- Escalate significant financial risks, control weaknesses, cash-flow challenges, and material variances to management.
- Ensure compliance with applicable Group financial policies, standards, reporting requirements, and delegated authorities.
- Perform other related duties as directed by the immediate supervisor.