Financial Accounting
Resume:
Odunayo Odunlami
Lagos, Nigeria
**********@*****.*** +234 802-***-****
Summary
A formidable progression of business transformation, operational efficiency and value delivery across multiple industries through team and thought leadership
Business leader and strategist with a proven ability to drive business sustainability with a tangible impact on profitability, liquidity and compliance.
Recognized for leadership abilities in navigating companies through change and challenges to achieve profitable growth; skilled communicator with strong business acumen, and a dedication to deliver excellence in the workplace.
Dynamic Teacher with ability to incorporate innovative management techniques, systems, processes, and procedures to enhance business practices, increase productivity, and boost revenues.
Highlights of Expertise
Financial Control, Budgeting
Internal Control & Audit
Accounting & Bookkeeping
Communication & Co-ordination
Compensation, Payroll, Benefits
Operational Efficiency
Organisational structure development
Banking Relationships & Treasury management
Project Management & Direction
Leadership, Training & Development
Career Experience
Wakanow.com Limited, Ikate-Elegushi, Lekki, Lagos
Chief Financial Officer (CFO), Jan 2019 to June 2020
Serve as the Chief Financial Officer responsible for all aspects of financial control, reporting & planning, treasury & liquidity management, revenue assurance and internal control, providing strategic direction to internal management and shareholders for the Group.
Key Contributions:
Re-organized the dilapidated Finance function, setting up crucial functions like Revenue Assurance and managing the transition of the internal controls function as part of Finance.
Via the revenue assurance function, setting up the revenue recognition methodology do to daily and accurate revenue reporting, which showed the actual revenues and margins for the business.
Revamped the management accounting and financial reporting process, both structurally and qualitatively, managing the accounting & bookkeeping transition to Microsoft Dynamics, and then the Sage software.
Rigorous cost control measures to ensure the business was not consumed by a liquidity crisis.
Daily managed the remittances to airlines and other principals through stringent reconciliations and cash flow management.
Overseeing the successful completion of statutory and regulatory audits.
Provided financial and operational indicators to shareholders that necessitated the need to revisit the previous valuation of the business based on updated re-computation and review of the business’ finances and state of affairs.
Overseeing the settlement of over $4m to long standing creditors to the business, directly with the Board/shareholders.
Managed the funding process by liaising with the Board/shareholders to analyse, present and agree the working capital the needs of the business, and administering the disbursement of the funds as stipulated.
Provided adequate support and thought leadership to the internal management and Board, through effective communication and qualitative reporting, resulting in a 75% improvement in net revenues in 2019.
Independent Consultant, Lagos, 2018
Worked as an independent consultant to help businesses with in areas of financial management.
Konga Online Services, Lagos, Nigeria
VP Finance Operations, Aug 2017 to Dec 2017
Provided oversight of all finance operational functions, from financial reporting, balance sheet reconciliations and asset management, payments, taxes, statutory and tax audit, franchises receivables, revenue assurance.
Key Contributions:
Managed a very difficult transition process for the business due to an unexpected shareholder divestment.
Oversaw the conclusion of the statutory and tax audits.
Oversaw the monthly management reporting and balance sheet reconciliation
Managed the receivables process involving the Franchises, and highlighting the key receivables settlement risk.
Ensured a seamless daily payments and settlement process to vendors and other agencies.
Montaigne AH Limited, Lagos, Nigeria
Chief Financial Officer (CFO), 2016 to 2017
Performed diversified duties and supervised both the Finance and IT teams.
Key Contributions:
Automated the payroll process from the use of MS Excel to Quickbooks.
Had an oversight over the tax audits
Preparation of the year-end management accounts.
Revenue assurance & payments settlement reconciliation, thereby blocking losses due to leakage & fraud.
Vendor accounts review and reconciliation.
Africa Internet Group (trading as Jumia), Lagos, Nigeria
Chief Financial Officer (CFO) 2014 to 2016
Oversaw accounting and reporting activities, which included budgeting, group performance reporting, overseeing audits, maintaining internal controls, and serving as point of contact with the investors.
Key Contributions:
Providing complete analysis of financial results to the executive leadership team and Partner group.
Led the team, providing technical and professional development and establishing succession planning.
Ensured the accurate/timely reporting of the business financial results, the preparation of the budgets, financial reports and analyses;
Successfully managed the conclusion of the external audit for the Nigerian entities.
Managed the cut-over to the new accounting system, and the integration of data from the Order Management System (OMS) with the new ERP (Navision).
Part of the due diligence team and process that led to the investment of €75-million by AXA in 2016.
McKinsey & Company Limited
Manager of Finance & Accounts 2013 to 2014
Orchestrated accounting and bookkeeping activities, which included budgeting, profit reporting, preparing financial statements, maintaining internal controls, and serving as point of contact for all financial inquiries.
Key Contributions:
Ensured the billing and collection for all Nigerian clients, leading to Nigerian entity being the most performing country in terms of collections in Africa in 2013.
Managed the conclusion of the statutory and regulatory audits.
Collection of over N20million worth of withholding tax credit notes that have been long standing from clients.
Managed monthly tax schedules preparation and remittances to the tax authorities.
Monthly balance sheet reconciliations and reporting.
United Bank for Africa Plc
Team lead, Financial Control 2007 to 2013
Key Contributions:
Head of Fixed Assets Management in the Finance Directorate, May 2011 - March 2013
Oversaw the entity's fixed assets base of about NGN90billion ($600million) & co-ordinated a bank-wide fixed assets verification exercise that provided the comprehensive data for the automation of the bank’s fixed assets management system
Head, Expense Assurance & GL Maintenance, June 2010-April 2011
Carried out daily maintenance activities for internal general ledger accounts i.e. creating, (un)freezing, modifying & replicating accounts etc., as well as monthly review of the salary schedule for the bank-wide staff
Head, Intragroup Receivables & Settlement, October 2008-June 2010
Liaised with UBA subsidiaries across Africa to ensure the settlement of outstanding receivables due from them to UBA Plc.
Head, Investment Appraisal, Mar-Sept 2008
Part of the team that did the following:
Reviewed the lease finance proposal document for the acquisition of the 2 airplanes by the bank, and preparing the ‘buy or lease’ option presentation;
Valuations/ROE projections for the various potential banking investments across the African continent & the Capital Funding Plan for the bank for 2008-2010, for presentation to the Board.
Head, Operational Efficiency, Nov 2007-Mar 2008
Led a 4-man team to do a preliminary Fixed Assets verification exercise for the bank at the end of 2007.
Team member, Investor Relations, Oct 2007-January 2008
Pioneer member of the Investor Relations Unit; assisted in preparing the presentation documents for the 2007 Investors’ Forum for the bank.
PricewaterhouseCoopers, Lagos, Nigeria
Audit Associate/Senior 2001 to 2007
Held accountability for the planning, controlling and supervision of assurance audits. Developed audit programs, established key relationships, assessed risk, conducted and reported audits, and tested internal control procedures for statutory and non-statutory audits.
Key Contributions:
Part of various client engagement teams for: year-end audits, Due Diligence, IFRS conversion, internal controls and systems documentation, inventory count, accounting work.
Additional passion
Poetry
Education & Credentials
Chartered Accountant (ACA) Institute of Chartered Accountants of Nigeria (ICAN), NG, 2010
Bachelor of Science, Physics University of Ibadan, NG.
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