Position Description: Chief Financial Officer (CFO)
Basic Function: The chief financial officer position is accountable for the administrative, financial, and risk management operations of the company, to include the development of a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial results. Principal accountabilities are:
Assist in formulating the company’s future direction and supporting tactical initiatives.
Monitor and direct the implementation of strategic business plans, integrated management and accounting software. Develop financial and tax strategies based on tax regulation in Libya
Develop and establish the required departments to assist in managing the overall operation. These department are but not limited to 1- Admin and Accounting, 2- Human Resource, 3- Marketing and Sales, 4- Operation and Logistics.
Develop performance measures and monitoring systems that support the company’s strategic direction and manage the capital request and budgeting processes
Assist in formulating the company’s legal infrastructure to facilitate operation and mitigate any future risks.
Participate in key decisions as a member of the executive management team
Maintain in-depth relations with all members of the management team
Manage the accounting, human resources, operation and logistics, legal, tax, treasury and IT department.
Oversee the financial operations of subsidiary companies and foreign operations
Manage any third parties to which legal or finance functions have been outsourced
Oversee the company’s transaction processing systems
Implement operational best practices
Oversee employee benefit plans, with particular emphasis on maximizing a cost-effective benefits package
Oversee the issuance of financial information
Monitor and direct the work of the following departments: 1- AR and collection 2- AP and Purchases 3- Stores 4- Treasury. 5- payroll
Personally, review and approve all bank transaction above certain limit.
Report financial results to the board of directors
Understand and mitigate key elements of the company’s risk profile
Monitor all open legal issues involving the company, and legal issues affecting the industry
Construct and monitor reliable control systems
Maintain appropriate insurance coverage
Ensure that the company complies with all legal and regulatory requirements
Ensure that record keeping meets the requirements of auditors and government agencies
Report risk issues to the board of directors
Maintain relations with external auditors and investigate their findings and recommendations
Monitor cash balances and cash forecasts
2-Arrange for debt financing and equity financing
Maintain relations with suppliers, customers, lawyers, auditors and government agencies.
Maintain banking relationships, personally review and approve banks facilities.Desired Qualifications: The candidate chief financial officer should have a master’s degree in accounting or business administration, or equivalent business experience and 10+ years of progressively responsible experience for a major company or division of a large corporation. Should have experience in partnering with an executive team and have a high level of written and oral communication skills.Preference will be given to candidates with an MBA in Finance and the Certified Public Accountant or Certified Management Accountant designations.Additional Qualifications: Fluent in both Arabic and English language.Working Conditions:
Will work in an office environment. From 9:00am 5:00PM. City Janzour- Tripoli, Libya.
Supervises: Controller, Purchase Manager, Collection Manager, Human Resources Manager, Operation & Logistic Manager, Store Manager, IT Manager.
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