Finance and Administration Manager

1. Introduction

The Job Profile below must reflect the requirements of the Organisation Structure(s) and exists to ensure the
achievement of the Departmental, Business and Strategic Goals.

2. Job Information

Field Detail
Date of profiling 8 August 2024
Job Analysts Operations Director
Organisation Palmworth Investments (Private) Limited
Department and Location Finance, Head Office
Incumbent Supervisor (Second Level) Operations Director
Incumbent Supervisor (First Level) Managing Director
JOB TITLE Finance and Administration Manager
Subordinates (1st Level) Farm Manager
Subordinates (2nd Level) Driver
Subordinates (3rd Level) Farm Hand
3. Performance Criteria

Main Purpose
The Finance and Administration Manager plays a vital role in managing the finance and administration functions at
Palmworth Investments (Private) Limited. The Finance and Administration Manager is a member of the Senior
Management Team and oversees the financial and administrative function of the company.

The position also exists to provide management with accurate and timely information on the financial status and
performance of the operations so that management can make informed decisions. The job ensures financial
accountability and compliance with policies and statutory requirements. The job also provides oversight on
administration functions of the organisation.

1 - Key Performance AREA:

COMPANY BUDGETING AND BUDGETARY CONTROL
Key Performance TASKS Performance Standard(s)
Completed Annual Budget in line
1.1 Develops the annual Financial Budgets for Palmworth Investments by:
with company guidelines

▪ Coordinating meetings for all departments to formulate and discuss

the Annual budget. As and when is required

▪ Preparing special projects budgets and return on investments and

provides recommendations to the Managing Director As and when is required

▪ Preparing a consolidated budget incorporating inputs from all

departments into Annual Budget. As and when is required

1.2 Checks and Monitors the business line expenditure to ensure that it is
in line with approved budgets. No budget overruns

1.3 Analyses the cost accounts to determine costs drivers and submits
costs saving and cutting opportunities to the Managing Director By 7th day of each month
By 7th day of each Month
Tracks adherence to cost containment initiatives, prepares cost
1.4 containment monthly report and submits to the Finance Manager –
Planning and Control.

2 - Key Performance AREA:

PROFITABILITY FORECASTING
Key Performance TASKS Performance Standard(s)

Profitability Forecasting
Completed Forecasts in line with
Prepares Quarterly forecasts templates for input by Heads of
2.1 Palmworth guidelines
Departments (HoDs) after research of market dynamics that might
affect future performance of the company.

Consolidates forecasts submitted by HODs by checking that the

2.2 assumptions used in the forecasts correlate with the market findings As and when is required
and advises accordingly.
 2.3 Consolidates forecasts submitted by HODs and submits to the
Managing Director. As and when is required

2.4 Prepares the monthly and quarterly rolling forecasts and submits to the
Managing Director. Monthly and Quarterly

Company Performance and Profitability

2.5 Develops and updates the financial models for financial performance
evaluation and submits to the Managing Director. As and when is required

2.6 Evaluates financial viability projects in line with the agreed financial
parameters and submits to the Managing Director. As and when is required

2.7 Analyses the financial performance of the Wholesale Division and

submits monthly report to the Managing Director. As and when is required

Analyses the financial performance of the Company (Inventory,

2.8 Creditors, Sales and Gross Profit) and submits monthly report to the As and when is required
Managing Director.

2.9 Monitors group overhead expenses in line with company policies and
advises the Managing Director. As and when is required

3 - Key Performance AREA:

FINANCE OPERATIONS
Key Performance TASKS Performance Standard(s)

Control Environment

3.1 Reviews and recommends updates and to Standard Operating

Procedures and internal controls. As and when is required
Accurate Variance reports after
3.2 Plans and develops the guidelines and procedures for the monthly,
count.
quarterly and surprise physical stock count exercise.

3.3 Prepares and evaluates Warehouse and Branches stock levels against Monthly
Creditors balances and submits to the Managing Director.

Consolidates and prepares analysis reports on gross profit, shrinkage

3.4 and mark downs for all branches and submits the report to the As and when is required
Managing Director.

Consolidates analysis reports on gross profit, shrinkage and mark

3.5 downs all manufacturing and specialist departments and submits the As and when is required
report to the Managing Director.

3.6 Reviews internal audit reports for the company and tracks resolutions
to audit findings. As and when is required

3.7 Reviews branch statements posting and invoice posting records and
compliance. As and when is required
Signed Payment Requisition
3.8 Approves payment of expenditure for transactions within Schedule of
Authority limits and escalates those exceeding limits for approval.
 Budget Variance Analysis, Internal
3.9 Analyses performance reports to identify control deficiencies and
and External Audit reports
recommends appropriate corrective action.
Closure within 90 days
3.11 Reviews the findings of the internal reports for all head office units and
external auditors and follows up on closure of identified issues.
Financial advice and support
3.12 Contributes to the provision of financial management support to the
operating units.
Facilitates the timely payment of dividends in liaison with the transfer
3.13 Dividend processing
secretaries, including obtaining the requisite dividend certificates from
the external auditors
Facilitates the timely payments of wages and salaries.
3.14 Wages and salaries

3.15 Contributes to the training of staff by reviewing their work and providing
Training support
performance feedback
As required
3.16 Performs incentive bonus computations for employees in line with set
criteria and submits to the Managing Director.
As required
3.17 Initiates confidential payment instructions including those related to
company’s Share Appreciation Rights Scheme.

3.18 Performs any ad hoc analyses, projects and tasks as may be assigned
Ad hoc
by the Managing Director from time to time

4 - Key Performance AREA:

FINANCIAL AND STATUTORY REPORTING
Key Performance TASKS Performance Standard(s)

Prepares technical papers regarding relevant new developments in

4.1 IFRS
IFRS, statutory directives issued by the PAAB, ICAZ or any other
regulator and submits recommendations to the Managing Director.

Assesses accounting policies and estimates for appropriateness and

4.2 IFRS
consistency with IFRS and other regulations and recommend any
necessary changes to the Managing Director.
Signed Annual Financial
Prepares the statutory Annual Financial Statements and the Integrated
4.3 Statements
Report in line with IFRS and local regulatory framework for the Group
and all subsidiary companies and submits to the Managing Director.
In line with reporting dates.
4.4 Prepares quarterly trading updates, abridged financial results, analyst
briefing presentations and submits to the Managing Director.

Drafts the analysis and commentary on the financial publications

4.5 Financial publications
including the Chairman’s Statement, CFO report in the annual report
and analyst presentations and submit to the Managing Director.

Prepares the weekly EXCO report, monthly Flash Results, monthly

4.6 Monthly financials
Management Pack and other additional information and submits to the
Managing Director.

Determines the appropriate exchange rates for foreign currency

4.7 Exchange rates
transactions, obtains approval from the Managing Director and
circulates to all relevant users as appropriate
 In line with the Audit requirements.
4.8 Provides information required for external audits, including meeting of
the set deadlines

4.9 Approves adjustment journals to the General Ledger in line with

Ongoing
Finance Policies and Procedures.

4.10 Assists branches/units with clearance of queries relating to their

branch/unit income statements

4.11 Reviews the trial balance on a daily basis and liaise with branches/units
for the correction of obvious errors

Reviews monthly general reconciliations to maintain integrity of

4.12 Monthly
financial records and ensures that queries are cleared in line with
Finance Policies and Procedures.

5 - Key Performance AREA (Objective):

FIXED ASSETS MANAGEMENT
Key Performance INDICATORS Performance
Standards/Targets

5.1 Maintains the integrity of the fixed assets register through monitoring
the implementation of the set internal controls on the fixed assets cycle Monthly
Fixed asset verifications
5.2 Liaises with Branches/Units and monitors their performance of fixed
asset verification in line with Finance Policies and Procedures

Reviews depreciation and impairment loss computations for accuracy

5.3 and consistency with IFRS, including the assessment of useful lives and IFRS
residual values of all asset categories
Work in progress
5.4 Reviews the work in progress listing and ensures that assets are
capitalised on time
Capex deliveries
Liaises with relevant departments to ensure that deliveries in respect of
5.5
fixed asset prepayments are made on time
Up to date Asset Register
Reviews reconciliations of fixed asset supplier statements to the
5.6
company’s records

Reviews assets disposals requests and facilitates disposals after In line with Fixed assets disposal
5.7
approval by the Managing Director. policy.

6 - Key Performance AREA:

STAFF SUPERVISION
Key Performance TASKS Performance Standard(s)
Agrees medium and short-term objectives, develops a work plan, Supervision of staff in line with
6.1 and checks that this is being carried out. Human Resources policies and
procedures manual
Meets and or discusses and agrees work schedules and targets with
6.2
staff daily.
Evaluates staff, identifies performance strengths and deficiencies,
6.3 and arranges for necessary action (for example further on the job
training).
 Coaches and/or arranges for the training of staff in the
6.4
understanding of Departmental procedures.
Identifies disciplinary problems or issues and arranges for the
6.5 necessary disciplinary action in line with Human Resources
Policies and Procedures.

Key Decisions:
Decides on the accuracy and completeness of the financial Management reports.
Decides on the accuracy of the Accounting Journals or Transactions in the ERP System.
Decides on tax treatment on transactions in line with Legislations.

Accountable for:
Accurate and timely production of Financial Reports Financial Statements and Annual Reports.
Asset management

4 Job Requirements
4.1 Qualifications

Minimum Formal Qualifications Required Essential / Desirable

First degree in Finance, Accounting or equivalent. Essential

4.2 Experience

Minimum Job Related Experience Required Time Span Essential / Desirable

Financial Accounting experience, 3 years of which should be in Retail 5 years Essential

4.3 Skills and/or Technical Competencies

Job Related Skills/Competencies Required

Ability to lead, manage and develop staff and employees Essential
Ability to identify, communicate and ensure implementation of the agreed business
Essential
objectives for the relevant unit.
Excellent verbal and written communication. Essential
Ability to plan and organise short to medium targets. Essential
Ability to analyse and solve business problems to achieve the correct outcomes. Essential
Sound business acumen and resourcefulness. Essential
Ability to interact and achieve targets Essential

4.4 Span of control

Supervision / Coordination of People and Work

Number of jobs
Number of people