Head, Financial Reporting Job at Egbin Power Plc.

Egbin Power Plc. Lagos is one of the biggest additions to the electricity industry in Nigeria. Often seen as the biggest single generating power station in Sub-Saharan Africa, it was built to meet the every rising demand for electricity in Lagos and its environs.

Following the nation’s privatization exercise, Sahara, through its power division, Sahara Power Group and sundry affiliations, acquired the 1320 MW installed capacity Egbin Power Plant. We are working towards deploying a minimum of 5,000 MW of electricity generation over the next five years.

We are recruiting to fill the position below:

Job Position: Head, Financial Reporting

Job Requisition ID: 430
Job Location: Egbin Town, Ikorodu, Lagos
Job type: Full-time

Job Description

• 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..
• Minimum of ten (10) years of relevant experience with at least three (3) years in a managerial role.
• Relevant professional certification (e.g. ACA, ACCA, CIMA, CFA) is a must-have

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.