Head Financial Reporting at Egbin Power Plc – Apply Now

The Head of Financial Reporting will be responsible for coordinating and managing the accurate recording and reporting of Egbin’s financial statements.

Key Duties and Responsibilities

• Develops annual Revenue Management (RM) goals.
• Coordinate investigation, analysis, evaluation and resolution of revenue-related issues that arise during disputes on revenue recognition.
• Periodically review and report on the status of billing with the Market Operator, Bulk Trader, Eligible Customers and the outsourced functions.
• Review revenue impacting policies, processes and activities in line with realities of the Nigerian environment. 
• Support in the provision of recommendations for modifications to such policies
• Perform monthly energy and capacity reconciliation in conjunction with the commercial and contracts unit for the purpose of revenue recognition for the plant. 
• Provide relevant suggestions to the management and Board on potential revenue sources to be identified and explored.
• Ensure timely and accurate recording of direct payment and cash receipts from Egbin’s power buyers.
• Monitor credit transactions to ensure that all agreements and laid down policies and procedures are fully complied with, and identify, investigate and report any contraventions, non-compliance and exceptional credit-related cases to the Head, Finance & Stores.
• Participate actively in the implementation of appropriate recovery strategies to ensure timely collection of market areas.
• Oversee and ensure timely reconciliation of EGBIN’s balance sheet and the clearing of identified exceptions.
• Collate inputs and translate them into an agreed format for management reporting.
• Ensure month-end balances and financial statements are prepared promptly.
• Ensure timely generation and rendition of monthly, quarterly and annual financial statements (profit and loss, cash flow and Statement of Financial Position).
• Prepare the unit’s budget inputs and contribute to the preparation of the budget firm-wide. 
• Design and develop a unit plan that details how the unit will deliver on organisational requirements
• Coach, mentor, and conduct performance appraisal and review for subordinates on a timely basis
• Prepare a periodic report for the attention of the CFO.
• Approve expenditure within the limits of approval.
• Perform any other duties as assigned by the CFO.
• Implement data protection policies and practices of Egbin Power Plc.
• Ensure compliance with the NDPR and other data protection laws, and data protection policies.
• Undertake a Data Protection Impact Assessment as applicable to curb the risk during data processing operations.
• Ensure awareness, understanding and application of QHSE policy on assigned jobs, ensure the integration of the IMS requirements (ISO 9001:2015, 14001:2015 & 45001:2018) into the departmental processes.
• Engage, direct and support persons /units/departments to understand and identify hazards, risks, environmental aspect and Impact as it is related to their jobs. 
• Ensure that the Integrated Management System (ISO 9001:2015, 14001:2015 & 45001:2018) achieve its intended results within departmental processes.

Education and Work Experience

• Bachelor’s degree or its equivalent in Accounting/ Finance/ Economics or other related discipline.
• Relevant professional certification (e.g. ACA, ACCA, CIMA, CFA) is a must-have.
• Minimum of ten (10) years relevant experience with at least three (3) years in a managerial role.

Skills and Competencies

• Good understanding of micro and macroeconomic indices and their impact on the business.
• Good understanding of trends, challenges, opportunities, regulations and legislations relating to the power sector and its impact on revenues
• Good knowledge of the wholesale electricity market and the relevant settlement mechanism.
• Working knowledge of the Multi-Year Tariff Order, cost assumptions, returns on investments, etc.
• Deep understanding of foreign exchange operations and regulation.
• Advanced financial and accounting knowledge, including an understanding of finance best practices and IFRS/ international accounting and financial reporting standards. 
• Knowledge of the Financial Reporting Council (FRC) and NERC requirements for financial reporting
• Very sound business acumen – financial and commercial knowledge.
• Excellent communication and interpersonal skills.