Senior Financial Finance Manager

Andrew Kioko Masyula

Nairobi, Kenya

+254********* ********@*****.***

PROFILE

• Dedicated and driven accounting practitioner with proven record of contributing to business success and financial solvency by proactively monitoring and maintaining records of assets and liabilities, presenting essential financial information to management, and ensuring that all transactions are accurately recorded and filed.

• Constantly identifies opportunities to improve processes while closely monitoring changing regulations to ensure company-wide compliance.

EXPERIENCE

Tata International Ltd-Kenya. Nairobi, KE

Deputy Financial Controller June 2022 to Date

• Ensure the integrity of the annual financial statements by ensuring that they portray a true and fair view, meet legal requirements, comply with relevant Standards and reflect best practices. Support the Finance Controller in both Internal and External Audits. Audit Schedules for external and Internal Audit and share supporting documents in agreed timelines.

• Assisting BU heads in developing, implementing, and monitoring the Annual budget plan

(ABP). Borrowings, Interest, legal and formulation of the balance sheet

• Manage and comply with local and technical accounting reporting and ensure company tax compliance and all taxes, levies and levies are properly accounted for, recorded, and submitted to the relevant authorities within deadlines.

• Safeguard the fixed assets and inventory against misuse and fraud through inspection, regular stocks take counts, and ensure all assets are properly maintained and insured against risks.

• Setting up effective internal control systems for safeguarding company’s resources.

• COGS VS Sales = Margins per chassis + accruals of missing COGS/ reconciliation & reversal on booking actual vs Logistics working as per MIS close calendar.

• Conduct Risk Analysis of overdue debt balances and advise on possible action.

• Take lead in KRA working Audit meeting (Income Tax & Transfer pricing audit) by ensuring up to-date data and schedules matching the TB.

• Assist Head of finance in strategic finance processes for the Country’s Planning and Monthly Performance Review.

• Currently the Ethics Counsellor for the Kenya Office globally. Achievements

• Assisted in closure of two KRA audits (Income tax & Transfer pricing).

• Successfully oversaw implementation of KRA’s new ETR system (TIMS) with minimal errors.

• Managed to speed up internal processes.

• Successful implementation of SAP B1 ERP system.

Majid Al Futtaim Hypermarkets Ltd. Nairobi, KE

Financial Controller-finance (Opex) Mar 2021-May 2022

• Control and analyze all lines after Total Commercial Margin ie Staff Cost, Opex,Other Income.

• Operating Expense Benchmarks and Branch Utilities.

• Financial analysis vs Budgets and Forecast.

• Maintenance Contracts and Lease Agreements.

• Cost Savings Optimization Initiatives.

• Monitor Special Agreements/Rebates and request credit notes from vendors.

• EBITDA & Net Profit Analysis- Perform the P&L variance analysis.

• Monitor information flow, act as a gatekeeper, ensuring a director’s involvement in a project or decision-making process at the right moment.

• Manage the global F&A planning activities including coordinating regional and program submissions, consolidation of management reporting data and presentation outputs.

• Manage the reporting of performance to plans to include the integration of both historical F&A performance with forward looking operational forecasts.

• Create insight, exception driven and future focused financial outputs.

• Lead the annual budget process, forecasting and all other financial planning exercises in consultation with the CEO.

• Provide timely, accurate and insightful monthly management accounts to Management and the Board.

• Perform financial analysis and projects evaluation for Country Unit’s business initiatives, including the identification of new opportunities to enhance volume performance and value creation.

• Lead strategic finance processes for the Country’s Planning and Monthly Performance Review

• Develop Financial Analysis to identify the profitability profile of our categories and products.

• Deliver accurate and insightful financial information to the management team to improve understanding of financial performance, influence decision making, guide strategic planning, and identify issues.

Achievements

• Monthly cost savings of ksh 2million-2.5million.

• Harmonized costs between Hypermarkets and Supermarkets through benchmarking.

• Recovered lost revenue through Rebated and Store Fees agreements.

• Key member of a team that appraised proposed projects and reviewed feasibility studies which led to opening of 5 profitable new stores and growth in revenues.

• Came up with a Harmonized budget 2022 with clear drivers and all factors considered. Pwani Oil Group-Tanzania Subsidiary. Mwanza-TZ/Mombasa, KE Management Accountant Jan 2019- Feb 2021

• Coordinate External Audit by Relevant Government bodies such as TRA, TFDA and the local government authority in our Mwanza Office.

• Perform comprehensive reviews of stand-alone and consolidated Income Statement, Balance Sheet and Cashflow in compliance with IFRS.

• Monitoring internal controls Streamlining accounting functions and operations.

• Participating in budgeting, forecasting processes.

• Managing financial transactions and Cashflow Forecasting.

• Developing plans for financial growth.

• Payroll processing, bank reconciliation and intercompany reconciliation.

• Find, implement and follow initiatives or projects willing to optimize group margin.

• Forecast supply and demand to prevent overstocking and running out-of-stock.

• Establish consistent and effective accounting policies, structures, processes, systems and strong internal controls to safeguard the company’s assets, revenue and other resources.

• Ensuring proper provision of staff related costs.

• Check accuracy and completeness of monthly GL reconciliation- aging and variance.

• Prepare (supported by the FSSC) all reporting for the Assets and Liabilities Committee (ALCO) and present at ALCO, sharing insights and making appropriate recommendations.

• Lead all Treasury activities, including but limited to, Liquidity Management and Capital Planning.

• Relationship Management - manage relationships with the FSSC, External Auditor, Tax Advisors and any other financial advisors.

• Monitor all regulatory financial ratios and trigger management action in case there is a deterioration of any ratios that may lead to a breach.

• Responsible for tax reporting, compliance and planning.

• Manage payroll and ensure remittance of all statutory deductions to the respective agencies.

• Coordinate HR activities including arranging for on boarding of new staff, handling separations and other staff matters.

• Provide oversight and management to all operational functions. Achievements

• Significantly reduced tax exposures and risk with reduced tax audits and assessments.

• Successfully handled TRAs audits with zero additional assessments.

• Engineered costs savings of up to Tsh 20Million per month on supply chain cost. Pwani Oil Group Mombasa, KE

Senior Tax Compliance Executive Jan 2018 to Feb 2021

• Coordinate External Audit by relevant Government statutory Bodies. Example, Investments Deduction Audit by KRA, Payroll Audit by NSSF & NHIF.

• Maintains and updates working knowledge of tax laws and regulations.

• Lead on tax optimization, tax impact of corporate strategies and manage tax audits.

• Project Accounting and Compliance-Tracking costs and ensuring correct Tax treatment eg Investment Deductions claim, Industrial Building Allowance, Wear & Tear.

• Preparing annual financial records, Management Reports and ensuring all financial practices and records comply with accepted accounting standards.

• Review relevant tax filings for completeness and technical accuracy including proper disclosures.

• Payroll Administration and Ensure Payroll processing is in compliance with the labour laws.

• Providing assistance during Audit Activities by providing necessary support and feedback needed.

• Support the Financial Controller in Implementing planned training of budget holder’s/project managers/partners in financial management procedures and tools.

• Assist in preparation of the budget.

• Support month-end and year-end close processes.

• Develop mechanisms, policies, and procedures to enhance compliance to the requirements of the finance functions, and accounting standards and regulations.

• Implement and drive improvements in the core financial processes and reporting for the business.

• Monthly reporting of finance processes compliance status, potential risks and ongoing developments to the Financial Controller.

• Keep control of the receivables across the area and drive the collections.

• Analyze the processes of booking cost and revenue and take corrective actions where needed in the L&S business.

• Supervise other team members within the finance function. Achievements

• Successfully oversaw the completion of two Projects as the Tax lead and Project Accountant

• Significantly reduced tax exposures and risk with reduced tax audits and assessments.

• Successfully handled TRAs audits with zero additional assessments.

• Discovered overcharge by KRA on customs duty and successfully applied for a refund.

• Updating management of tax laws change and advising ways to benefit from such. Mackenzie Maritime E.A ltd Mombasa, KE

Senior Accountant January 2017 – December 2017

• Maintenance and custodian of the disbursement account.

• Preparation of the company’s management reports and monthly financials.

• Direct Supervision of Daily billing to clients and weekly revenue analysis.

• Oversee preparation of monthly payroll including ensuring timely remission of all applicable statutory deductions.

• Manage the day-to-day operations of the accounting department including overseeing, coaching and training of a high-performance accounting team.

• Manage accounts receivable and accounts payable

• Provide oversight to Admin in line with petty cash disbursements, replenishment and petty cash count. Review and oversee reimbursements.

• Coordinate the preparation, tracking, and reconciliation of ledgers, budgets and financial plans.

• Coordinate the payroll preparation process

• Analyze past results, perform variance analysis, identify trends, and make recommendations for improvements.

• Preparation of client debt settlement agreements.

• Develop balance sheet trends, quantitative and qualitative analysis, insights, and foresights.

• Providing assistance during Audit Activities by providing necessary support and feedback needed.

• Maintain and develop Annual Operating Budget for cost coverage purposes and review budgets.

Achievements

• Clean-up of the disbursement file ensuring recovery of lost revenue not billed.

• Trained personnel in the company in usage of a new accounting software i.e. FIS

• Weekly debtors' analysis to review and mitigate bad-debts exposure.

• Initiated supplier payments to be accompanied with reconciliation and suppliers SOA.

• Implemented monthly closing by 2nd and management reporting by 3rd of every month.

• Successful implementation of IFS ERP system.

Payroll Accountant March 2016 – December 2016

• Oversee employee paychecks.

• Calculate net salaries considering deductions and withholdings.

• Ensure payroll and tax documents are accurate.

• Update general ledger and payroll files.

• Prepare accounting files, records, and schedules.

• Monitor paid and unpaid leaves.

• Process overtime earnings or holiday deductions

• Resolve payroll problems (e.g. overlooked bank holidays, late payments, etc.)

• Answer employee questions concerning payroll.

• Participate in payroll audits.

• Ensure compliance with governmental laws on payroll accounting and taxes. Payables Accountant February 2015 – February 2016

• Process outgoing payments in compliance with financial policies and procedures

• Perform day to day financial transactions, including verifying, classifying, and recording accounts payable data.

• Reconcile the accounts payable ledger to ensure that all bills and payments are accounted for and properly posted.

• Verify and investigate discrepancies, if any, by reconciling vendor accounts and monthly vendor statements

• Facilitate payment of invoices due by sending bill reminders and contacting clients

• Generate reports detailing accounts payables status

• Understand expense accounts and cost centers.

• Understands compliance issues around accounts payable processes (sales tax, etc.) RN Mistry & Co. Mombasa, KE

Audit Associate January 2014 – January 2015

• Present Finance and Budget Insights to Senior Auditor for feedback.

• Prepare and analyze financial records for Accuracy.

• Testing of internal controls for the client.

• Ensuring Continued compliance with tax regulations.

• Analytical Review of Accounts.

Achievements

• Coordinated with clients to obtain detailed financial records.

• Assisted in identifying and testing clients' internal control procedures.

• Performed effective confirmation process to evaluate cash, bank and A/R accounts. Coast Academy. Mombasa, KE

Accounts Assistant January 2012 – January 2013

• Preparation and filling of statutory returns.

• Asset record management.

• Facilitate annual external audits.

• Book-keeping of all financial transactions.

• Preparing income reports.

• Bank reconciliation using the pastel system of accounting.

• Maintaining and Reconciliation of cash manager.

EDUCATION

UNIVERSITY OF EAST LONDON. London, UK

Master of Business Administration. (Distance Learning) 2022-2024 KCA UNIVERSITY Nairobi, KE

Bachelor of Commerce (Accounting) Second Class Upper Division. PROFESSIONAL QUALIFICATION

Certified Public Accountant

CPA -Vision institute of Professionals

PERSONAL ATTRIBUTES & SKILLS

• Team player with personal initiative.

• Experience with risk and internal control assessment and remediation of control deficiencies.

• Integrity, respectful, hardworking and ambitious.

• Flexibility and background in financial accounting and operational audit and compliance within the East Africa region.

• Dedicated to maintaining high levels of standards.

• Ability to solve practical problems and to deal with a variety of concrete variables to provide efficient solutions for all problems faced.

• Attention to detail.

• Ability to plan and organize the work to reach objectives in a timely manner.

• Ability to work under pressure with minimum supervision.

• Ability to reflect on one's own work as well as the wider consequences of financial decisions.

• Ability to organize and prioritize work activities, develop realistic action plans and statements and demonstrate accuracy and thoroughness.

• Analytical thinking.

• Ability to complete tasks on time or notify appropriate person with an alternate plan, to deal with frequent change, delays, or unexpected events.

• Leadership and People Management.

• Social Orientation.

• Patient, curious, rigorous, eager to learn, and to perform.

• Adaptability and Flexibility.

• Strong grasp of Microsoft Office programs like, Word, Excel and PowerPoint.

• Persistence.

REFEREES:

1. Douglas Kipkalom,

Head of Financial Controlling- Majid Al Futtaim Hypermarkets Ltd-072******* ********@*****.***

2. Maryam Awadh,

Finance Manager- Pwani Oil Products-072*******-

******.*****@*****.***

3. Jacqueline Maina,

Principal Marketing Officer-Kenya Ports Authority

*************@*****.***

Contact this candidate