A leading Quick Service Restaurant and Food services company is looking for an experienced CFO to join their team in Nigeria.
The ideal candidate must come from industry.
The ideal candidate will have to build and lead a high-performing finance function that provides clear data to support profitability, ensures 100% compliance with statutory and regulatory obligations, safeguards assets and revenue, delivers relevant and actionable business insights and assures the accuracy and integrity of financial reporting, all within a one-year timeframe.
Responsibilities:
Team Development and Leadership
- Develop an organogram and recruit ‘A’ players with clear roles that delivers on Mission
- Review existing organogram and team including roles and responsibilities.
- Present clear thoughts on proposed changes.
- Implement relevant changes.
Financial Reporting and Governance
- Ensure accuracy, transparency, and integrity in management and financial reporting.
- Review systems and processes for data collation and reporting (from store level to head office) for accuracy, present relevant findings and conclusions with 3-months.
- Implement changes as required to ensure 100% data accuracy and transparency.
- Prepare clear and simple templates for store level and corporate reporting; train as required to guarantee culture change at all levels.
- Review pricing weekly and make documented recommendations to protect naked margin (i.e. revenue less food and packaging costs).
Revenue Assurance and Regular Asset Reconciliation
- Provide revenue assurance and ensure regular and accurate reconciliation of key balance sheets and other key accounts (investigate and report discrepancies in a timely fashion)
- Daily revenue and cash reconciliations
- Monitor and ensure daily inventory count, reporting and reconciliation at the Store Level
- Oversee monthly inventory review count and reconciliations
Profitability & Cost Management
- Enhance profitability through effective cost control and margin improvements
- Complete a full menu profitability analysis within 3-months, with recommendations for optimizing menu offerings to boost revenue.
- Target operating profit improvement across the store network by reviewing and reducing unnecessary costs.
- Support operations to deliver meaningful costs reductions for food, labour and energy costs.
Cashflow and Liquidity Management
- Improve cash flow management and ensure liquidity for business operations.
- Implement a robust cash flow forecasting system that accurately projects 12-month liquidity needs and identifies funding gaps.
- Review and improve inventory and payables management practices to ensure adequacy of working capital.
- Clear framework for vendor payments and overall debt reduction for the business.
