Summary
Date Posted: Tuesday, June 25 2024, Base Salary: Not Disclosed

JOB DETAILS:
Sotik Tea Companies is an organization located in a rural environment 50 kms from Kericho Town consisting of tea estates and two highly automated tea factories producing black tea. We have an innovative approach to the growing and manufacture of tea and pride ourselves in the quality of our personnel and our productivity.

About the role
• Located in Bomet, the Chief Financial Officer will lead the finance function, ensuring regulatory compliance and timely financial reporting. They will actively engage with investment partners to secure funding for strategic expansions and develop strategies for product development and market expansion. Additionally, the CFO will oversee the IT function, including the strategic transition of accounting software, to optimize operational efficiency and support organizational goals. This role reports directly to the General Manager.

Key Dimensions of the role
Financial Management and Reporting
• Manage and lead the finance function, ensuring smooth and efficient day-to-day operations while setting a strong example for the team.
• Ensure the business complies with all financial statutory legislation and returns.
• Ensure monthly management accounts are produced accurately and timely to the local board and Group Head office, with commentary and comparison to budget.
• Manage cash flow proactively and detail accurate forecasts; develop a revenue forecast based on business unit production/sales; balance accounts payable and receivable to utilize cash.
• Oversee and manage the year-end audit process. Work with third-party auditors and tax advisors to maximize group goals.
• Analyze business performance against budget/projects and advise on variations.
• Structure reporting to clearly display the performance of each business unit.
• Develop and review systems to accurately capture costs per business unit.
• Generate KPIs around cash generation/targets, individual objectives, and how they tie into the business.
• Financially appraise cash and the return by investments.
• Advise on asset performance and collectively look at methods of improving efficiency.
• Fine-tune MAs to reflect individual business units and their performance/contribution to the group.
• Develop an operating cash balance for projects.
• Reconcile income with expenses per business unit.

Strategic Leadership
• Work closely with the General Manager to appraise new initiatives and their impact on the business.
• Assist in developing the strategy around product development and expansion.
• Develop a role around a CFA to translate project numbers into daily/weekly/monthly targets for department managers to understand.
• Oversee the IT function of the business, including the transition and integration to a new accounting software.
• Manage and work with our legal and professional advisors.

Budgeting and Financial Planning
• Oversee the annual budgetary process and present annual budgets.
• Work with third-party lenders and equity partners to ensure sufficient funds are available for planned expansions.
• Assist procurement in sourcing products and payment schedules for large CAPEX items.
Performance Monitoring and Improvement
• Analyze business performance against budget/projects and advise on variations.
• Generate KPIs around cash generation/targets, individual objectives, and how they tie into the business.

Experience
• Over 15 years of experience working in manufacturing or agricultural companies.
• Demonstrated experience in taking a leading role in the finance function of the business.
• Proven track record of helping to create and deliver strategic goals.
• Previous experience working with debt and equity partners.
• Successfully integrated an ERP system throughout the business.
• Demonstrated examples of Human Resources being integral to previous engagement strategies and how they influenced HR to achieve company goals.

Work Hours: 8

Experience in Months: 180

Level of Education: Bachelor Degree

Job application procedure

Interested and qualified? Go to Sotik Tea Companies Limited on www.linkedin.com to apply



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