The Finance Officer is responsible for maintaining financial records, ensuring compliance with accounting and financial regulations, and assisting in the preparation of financial reports
This role plays a crucial part in the financial stability and decision-making process of the organization
Key Responsibilities
Financial Record Keeping:Maintain accurate and up-to-date financial records, including general ledger, accounts payable, accounts receivable, and fixed asset records
Ensure all financial transactions are properly documented, coded, and recorded in accordance with organizational policies and accounting standards
Financial Reporting:Assist in the preparation of financial reports, including income statements, balance sheets, cash flow statements, and other financial statements
Generate financial reports for internal and external stakeholders
Budget Management:Assist in the development, monitoring, and management of the organization's budget
Provide support in budget preparation, variance analysis, and financial forecasting
Accounts Payable and Receivable:Manage accounts payable by processing invoices, ensuring timely payments, and maintaining vendor relationships
Monitor accounts receivable, follow up on outstanding invoices, and ensure timely collection of payments
Financial Compliance:Ensure compliance with relevant financial and accounting regulations, standards, and best practices
Assist in the preparation for financial audits and work with auditors to provide necessary documentation
Financial Analysis:Analyze financial data to identify trends, variances, and opportunities for improvement
Make recommendations to enhance financial performance and efficiency
Cash Management:Manage cash flow, including monitoring cash balances, initiating fund transfers, and optimizing cash resources
Taxation:Ensure accurate and timely preparation and submission of tax returns
Stay updated on changes in tax laws and regulations
Financial Software and Systems:Proficiently use accounting software and financial systems to streamline financial processes
