Financial Planning & Reporting Manager

Financial Planning & Reporting ManagerDepartment: FinanceLocation: Ethiopia, Sheger City Lege TafoReports To: CFODirect Reports: As assigned by the organizationSalary: NegotiableJOB PURPOSEThe Financial Planning & Reporting Manager is responsible for leading the Company's financial planning, budgeting, forecasting, management reporting, financial analysis, and performance monitoring activities.The position provides accurate, timely, and meaningful financial information to management to support business planning, resource allocation, cost control, investment decisions, and overall business performance.The position will work closely with Finance, Commercial, Production, Procurement, Supply Chain, HR, and other departments to ensure effective financial planning, reporting, and control.The role is expected to operate within the IFRS framework, applicable Ethiopian laws and regulations, and Company policies and procedures, while supporting effective utilization of the Microsoft Dynamics ERP platform.

1. KEY DUTIES AND RESPONSIBILITIES

A. Financial Planning and Budgeting

1. Lead the preparation of the Company's annual operating budget in collaboration with all relevant departments.
2. Coordinate the preparation and consolidation of departmental budgets and ensure alignment with Company's strategic objectives.
3. Support the preparation and periodic review of the Company's strategic five-year financial plan.
4. Develop financial forecasts covering revenue, costs, profitability, cash flow, working capital, and other key financial indicators.
5. Prepare monthly, quarterly, and annual financial forecasts and update them based on actual business performance.
6. Analyze budget requirements and identify potential financial risks, constraints, and opportunities.
7. Ensure timely submission of budget and forecast reports to management.
8. Monitor actual performance against approved budgets and provide explanations for significant variances.

B. Financial Reporting and Management Information

1. Lead the preparation of accurate and timely monthly management accounts and financial performance reports.
2. Prepare monthly, quarterly, and annual financial reporting packages for management review.
3. Analyze revenue, cost, gross margin, operating expenses, profitability, and other financial performance indicators.
4. Prepare budget-versus-actual variance analysis and provide clear explanations for significant deviations.
5. Develop financial dashboards and management reports to support decision-making.
6. Ensure consistency, accuracy, completeness, and integrity of financial information presented to management.
7. Provide timely financial information and analysis to support management meetings and business reviews.
8. Monitor financial performance against approved plans and communicate emerging issues to management.

C. Financial Analysis and Business Decision Support

1. Provide financial analysis and recommendations to support management decision-making.
2. Conduct profitability analysis by product, customer, department, business activity, or other relevant dimensions.
3. Evaluate the financial impact of proposed business initiatives, projects, investments, and operating expenditure.
4. Conduct financial modelling and scenario analysis to assess the potential impact of business decisions.
5. Identify cost-saving and efficiency improvement opportunities through analysis of financial and operational data.
6. Support management in assessing financial risks and opportunities associated with major business decisions.
7. Develop key financial performance indicators and monitor their achievement.

D. Cash Flow and Working Capital Planning

1. Prepare weekly, monthly, quarterly, and annual cash flow forecasts.
2. Monitor projected cash inflows and outflows and identify potential liquidity gaps.
3. Work closely with Accounts Receivable, Accounts Payable, Commercial, Procurement, and other relevant functions to improve working capital management.
4. Monitor receivables, payables, inventory, and other working capital indicators.
5. Provide management with timely information regarding the Company's liquidity position.
6. Support effective cash planning and prioritization of critical financial obligations.

E. Financial Performance Monitoring

1. Establish and maintain appropriate financial performance monitoring mechanisms.
2. Monitor departmental and company-wide financial performance against approved budgets and targets.
3. Analyze trends in revenue, production costs, overheads, operating expenses, and profitability.
4. Identify unfavorable trends and provide management with timely alerts and corrective-action recommendations.
5. Support department heads in understanding their financial performance and budget utilization.
6. Follow up on agreed financial improvement actions and report progress to management.

F. Financial Controls and Compliance

1. Ensure financial planning and reporting activities comply with Company policies, procedures, IFRS, and applicable local laws and regulations.
2. Strengthen financial controls and identify potential control weaknesses.
3. Review financial processes and recommend improvements where gaps or inefficiencies are identified.
4. Ensure appropriate documentation and supporting information are maintained for financial reports.
5. Work closely with internal and external auditors during financial reviews and audits.
6. Support the Finance team in ensuring timely and accurate statutory and regulatory reporting.
7. Assist in monitoring tax and other statutory financial obligations as required.

G. ERP and Financial Data Management

1. Ensure effective utilization of Microsoft Dynamics ERP for financial planning, reporting, analysis, and performance monitoring.
2. Work with relevant Finance and business users to improve the accuracy and availability of financial data.
3. Ensure financial reports generated from the ERP system are accurate and reliable.
4. Support improvements to financial reporting processes, systems, and reporting tools.
5. Identify opportunities to automate and improve financial reporting and analysis.

H. Business Partnering and Cross-Functional Coordination

1. Work closely with Finance, Commercial, Production, Procurement, Supply Chain, HR, and other departments to obtain accurate planning and financial information.
2. Support department heads in budget preparation, budget monitoring, and financial performance management.
3. Communicate financial information in a clear and understandable manner to non-finance stakeholders.
4. Promote financial accountability and cost-conscious decision-making across the organization.
5. Participate in cross-functional projects and provide financial analysis and advice as required.

I. Team Leadership and Development

1. Lead, supervise, and develop employees reporting to the position.
2. Set clear objectives and performance expectations for direct reports.
3. Monitor team performance and provide coaching and feedback.
4. Promote accuracy, accountability, confidentiality, and professionalism within the Finance function.
5. Identify training and development needs of team members.
6. Encourage continuous improvement in financial planning, reporting, and analysis processes.

J. Other Responsibilities

1. Prepare financial analysis and reports requested by management.
2. Participate in strategic and operational business review meetings.
3. Support special projects and financial studies assigned by management.
4. Maintain confidentiality of sensitive financial and business information.
5. Perform other related duties and responsibilities as assigned by management.
6. KEY DELIVERABLES

The Financial Planning & Reporting Manager will be accountable for:

• Annual budget and budget consolidation.
• Five-year financial planning support.
• Monthly and quarterly financial forecasts.
• Monthly management accounts and financial reporting.
• Budget-versus-actual variance analysis.
• Cash flow forecasts.
• Financial performance dashboards and management reports.
• Profitability and cost analysis.
• Financial modelling and scenario analysis.
• Financial planning and reporting accuracy.
• Compliance with IFRS, applicable laws, and Company policies.
• Continuous improvement of financial reporting processes and controls.