Vice President of Finance
Application Deadline: 27 July 2018
How to apply: Email email@example.com with your CV/resume and brief cover letter or e-mail introducing yourself with the subject line: Vice President of Finance
Location: Kigali, Rwanda
Start Date: As Soon As Possible
About the Company
Inyenyeri is a for-profit corporation with a social business charter focused on providing a healthy renewable energy solution in Rwanda that can be replicated across sub-Saharan Africa. Inyenyeri uses a fuel-side, or utility company, approach to ensure that even the poorest Rwandan households have access to clean cooking fuel and high quality gasifying cook stoves. Inyenyeri’s revenue stream is derived from the sale of biomass cooking fuel pellets. Their solution is a cleaner, healthier, faster, cheaper and more sustainable alternative to charcoal and wood cooking. Inyenyeri has a current staff of approximately 164 staff.
Inyenyeri is seeking a highly motivated and experienced professional to fill the position of VP Finance, who will require providing financial management leadership services to Inyenyeri.
This person will report to two senior accountants.
- Understanding the strategic direction of the Company, providing high level, proactive financial expertise and leadership to the company as a whole and direction for both short and long term financial planning.
- Advising the CEO and Board of Directors on the financial implications, of business/project activities.
- Developing finance related materials for Board Meetings and assisting CEO in developing any additional materials for Board Meetings.
- Playing a proactive role in the process of business planning, in collaboration with C-level and VP level of the company, with geographic scope widening from Rwanda to Sub-Sahara Africa.
- Leading the design and implementation of the structure of financial team and all financial operations of the company.
- Providing internal leadership and direction to direct reports within the Finance Division.
- Assisting in recruiting new personnel for the department and develop training models for the department's staff.
- Training the finance department and other staff in financial management matters.
- Responsibility for the Financial Accountability of the business.
- Actively managing company cash flow and generating relevant cash flow projections and forecasting.
- Directing all financial, project-based, and departmental accounting.
- Maintaining internal control and safeguards for receipt of revenue, costs, and project budgets and actual expenditures.
- Preparing of periodic management and statutory financials.
- Overseeing timely and accurate reporting and payment of taxes, including VAT, PAYE and RSSB and annual income taxes
- Being in charge of the budgeting, budgetary control and forecasting process.
- Coordinating annual audits with Company auditors.
- Overseeing the production of monthly reports including reconciliations as well as financial statements and cash flow projections for use by management, as well as the Board of Directors.
- Overseeing the development of standardized Cost of Goods sold and variance analysis.
- Assisting in the design, implementation, and timely calculations of wage incentives, commissions, and salaries for the staff.
- Investigating cost-effective benefit plans and other benefits, which the company may offer employees and potential employees with the goal of attracting and retaining high performance individuals.
- Consistently analysing financial data and present financial reports in an accurate and timely manner; clearly communicating monthly, quarterly, and annual financial statements; monitoring progress and changes and keeping senior leadership abreast of the company’s financial status.
- Managing and monitoring all aspects of company accounts receivable and payable.
- Managing timely computation, payment and submission of all statutory deductions while ensuring compliance with all statutory requirements.
- Overseeing business insurance plans and coverage analysis.
- Overseeing the maintenance of the inventory of all assets.
- Manage the capital needs and capital budgeting process for the company.
- Develop recommendations for currency risk management and procedures for currency conversion.
- Actively contributing to the strategy to meet the financing needs of the company, in close collaboration with the Chief Investment Officer (CIO).
- Assisting the CIO in preselecting funds, investors and financial institutions, and, on ‘project’ basis, managing an opportunity till closure.
- Driving the effort to get export financing & insurance facilities from European development agencies.
- Managing the relationship with selected financial partners.
- With the CIO, developing materials for potential investors including presentations and data rooms.
- Developing and implementing comprehensive policies for financial operations and guidelines.
- Ensuring that all finance guidelines and related administrative procedures are adhered to.
- Overseeing all accounts, ledgers, and reporting systems ensuring compliance with appropriate GAAP/IFRS standards and regulatory requirements.
- Back stopping the accounting team and the quality assurance of the accounting system.
- Applying and demonstrating high quality financial and other related management controls.
- Abiding by, observing and at all times complying with and giving effect to the terms and conditions of the Investment Agreements and ensuring that the Company does not in any way violate or fail to comply with its obligations thereunder.
- Assisting in the development and implementation the company's ESOP program.
- Keeping track of the company's debt and equity capitalization tables, including options granted under the company's ESOP.
- Participating in the Operational Review meetings and represent the finance division in those meetings.
- Primary interface on all banking, treasury and board-level presentations.
- Preparing terms of reference and overseeing the consultancy in the field of the financial advisory firms to be engaged by the Company.
- Ensuring adherence to accounting standards and legal compliances.
- Minimum of seven years of experience in finance function in a for profit organization, of which > three years in financial analysis of which > three years in a senior managerial position.
- Experience in structuring and monitoring equity investments and loans.
- Experience in shaping finance organizations and systems in a least one organization.
- Proven track record in structuring export finance deals with European agencies, in collaboration with suppliers is a prerequisite.
- Having worked in international organizations with various forms and maturity of governance.
- Work experience in at least three out of five EAC countries is a real prerequisite.
- At least a Bachelor’s degree in finance, business administration or business analytics.
- Follow-up courses in finance, governance.
- English a must; Swahili and Kinyarwanda will be an added value.
Key Skills & Behaviours
- Holds self accountable for making decisions, managing resources efficiently, achieving and role modeling Inyenyeri’s values.
- Sets ambitious and challenging goals, takes responsibility for own personal development.
- Engages and motivates others.
- Future-oriented, thinks strategically.
- Approachable, good listener, easy to talk to; builds and maintains effective relationships with colleagues, members and external partners and supporters.
- Values diversity and different people’s perspectives, able to work cross-culturally.
- Develops and encourages new and innovative solutions.
- Honest, encourages openness and transparency, builds trust and confidence.
- Displays consistently excellent judgment.
- Acts in the best interests of Inyenyeri.