Assistant Finance Manager

The candidate will oversee key financial operations within the company, supporting the CFO in facilitating daily transactions and driving financial reporting, audits, tax compliance, internal controls, payroll management, pricing calculations, bank reconciliations, and budget monitoring. This role also includes supervising and guiding two junior accountants in their day-to-day operations. The position requires strong adherence to IFRS standards and the Tax Laws of Tanzania.

Key Responsibilities

– Transaction Management: Overseeing vendor and customer payment processing including initiating, approving and confirming bank transactions.

– Ledger Management: Oversee the management of the general ledger, ensuring accurate and timely entries. Monitor transactions to maintain proper accounting records.

– Financial Reporting: Prepare monthly, quarterly, and annual financial reports, ensuring compliance with IFRS standards. Present financial data to the CFO and CEO for decision-making.

– Audits: Assist in preparing for internal and external audits. Ensure that all financial documents and processes are audit-ready and meet regulatory standards.

– Payroll: Manage payroll processing, ensuring timely and accurate payments, statutory deductions, and compliance with Tanzanian labor laws.

– Tax Filing: Oversee the accurate and timely filing of tax returns (Corporate tax, PAYE, etc.), ensuring compliance with the Tax Laws of Tanzania.

– Internal Controls: Develop, implement, and monitor internal control procedures to safeguard company assets and ensure the integrity of financial data.

– Pricing Calculations: Support the pricing team by performing financial calculations, ensuring that the pricing models are cost-effective and aligned with the company’s financial goals.

– Bank Reconciliations: Perform regular bank reconciliations to ensure that the company’s records match the bank statements, identifying any discrepancies and resolving them promptly.

– Budget Monitoring: Assist in the preparation and monitoring of annual budgets, ensuring financial targets are met. Provide regular updates to the CFO and CEO regarding budget performance and variances.

Required Qualifications and Skills

– Bachelor’s degree in Accounting, Finance, or related field.

– Professional certification (e.g., CPA, ACCA) is highly desirable but not required.

– A minimum of 5 years of experience in finance or accounting.

– Strong knowledge of IFRS standards and Tax Laws of Tanzania.

– Proficiency in financial software and ERP systems (e.g., Odoo, SAP, QuickBooks).

– Strong analytical, problem-solving, and organizational skills.

– Excellent communication skills, both written and verbal, in English and Swahili.

– Ability to work under pressure and manage multiple priorities.

Key Performance Indicators (KPIs)

– Timeliness and accuracy of financial reports and statements.

– Successful completion of audits with minimal discrepancies.

– Compliance with tax filing deadlines and accuracy of filings.

– Effectiveness in managing internal controls and preventing financial discrepancies.

– Successful implementation and monitoring of pricing calculations and budget adherence.

– Accuracy and timeliness of bank reconciliations.

Collaborations/Interactions

– Work closely with the CFO to ensure alignment on financial strategies and reporting.

– Collaborate with the CEO to provide timely and actionable financial insights.

– Supervise and support the junior accountants in their duties.

– Engage with external auditors, tax consultants, and regulatory bodies to ensure compliance.

Challenges

– Ensuring seamless integration of financial processes with business operations.

– Staying current with changes in Tanzanian tax laws and IFRS standards.

– Managing the financial complexities of a manufacturing business, including pricing and cost controls.

Reporting Structure

The Assistant Finance Manager will report directly to the CFO and the CEO where appropriate, providing regular updates on the financial status of the company.