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Deputy Finance Manager

Kadisco Paint and Adhesive Industry S.C

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Finance

Accounting and Finance

Addis Ababa

9 years - 10 years

1 Position

2023-11-02

to

2023-11-15

Required Skills
Required skills have not yet been specified for this position this job
Fields of study

Accounting

Accounting & Finance

Full Time

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Job Description

Company Overview

Kadisco Paint and Adhesive Industry S.C. previously known as Kadisco Chemical Industry PLC is a privately owned company located in Addis Ababa in the Akaki Kality Industrial Zone area. Kadisco is a company that traces its origins back from a small automotive parts dealership that was operating in one of the busy streets of Addis Ababa back in late 60’s. During the period until 1975 it had the opportunity to act as the sole distributor for Sadoline Paints. In 1979 it was registered as the sole company to manufacture adhesives and glue. By stages, the company developed into a diversified paint manufacturer.

In February 2015, Asian Paints Ltd and Kadisco Paint and Adhesive Industry SC formed a joint venture for business in Ethiopia and came to be known as Kadisco Asian paints. Asian Paints is India’s leading paint company and Asia’s second largest, with a group turnover of USD 2.7 billion. The group has an enviable reputation in the corporate world for professionalism, fast track growth, and building shareholder equity. Asian Paints operates in 19 countries and has 26 paint manufacturing facilities in the world servicing consumers in over 65 countries.

Today the company produces a full range of paints for the construction, industrial and automotive sectors. It also produces wood and concrete lacquers as well as adhesives for the wood and leather industry.

Position Summary

The Deputy Finance Manager is responsible for managing the finance team, providing guidance and support to ensure the smooth operation of financial activities in overseeing and managing the financial operations of the organization. The position involves working closely with various stakeholders to ensure accurate financial reporting, compliance with financial regulations, and efficient financial processes. Additionally, he/she will contribute to budgeting and forecasting activities, financial analysis, and decision-making support.

Key Duties and Responsibilities
  • Develop clear taxation guidelines for VAT, WHT, Customs, and Revenue. Provide timely responses to tax queries, manage tax notices and ongoing cases, and advise the finance team on provisions in line with regulations.

  • Ensure timely payment of all taxes, levies, and legal fees by maintaining a payment schedule checklist and adhering to payment deadlines.

  • Timely booking of invoices and creation of provisions for unbooked invoices by month-end, following accrual accounting policies.

  • Coordinate with lawyers, valuators, taxation authorities, and auditors to address company matters and achieve favourable outcomes.

  • Efficiently manage funding requirements with banks, maximizing forex allocation and interest earnings.

  • Monthly scrutiny of General Ledger accounts to ensure expenses are correctly attributed to the appropriate GL codes.

  • Verify and process purchase and expense bills, ensuring all bills are received from vendors and payments are accurately recorded.

  • Review and approve cash/bank payment vouchers, ensuring proper reasoning and GL codes are provided.

  • Collaborate with the HR department to make necessary accruals for employee end-of-service benefits.

  • Prepare and provide timely financial reports, including MTR, Monthly Review reports, QRR, and Sales analysis reports to GM and Head Office.

  • Maintain and conduct physical verification of fixed assets, ensuring proper recording, numbering, and compliance with approval procedures.

  • Facilitate timely financial statutory audits as per Head Office timelines.

  • Reconcile intercompany accounts on a monthly basis.

  • Ensure adequate insurance coverage to mitigate risks in compliance with Group Policy.

  • Adhere to Group accounting policies and highlight any deviations or challenges with proper justification.

  • Provide system maintenance support for SAP and coordinate with the Help Desk in India.

  • Update system prices of finished goods in SAP as needed.

  • Collaborate with the Operations Department during stocktaking to address stock variances and ensure accurate data entry in the system.

  • Interact with Bank Relationship Managers as needed to manage financial requirements and ensure smooth cash flow.

  • Communicate with Legal Consultants to obtain updates on any ongoing legal cases.

  • Engage with the APG team at Head Office to address any accounts-related issues in SAP or otherwise.

  • Coordinate with Auditors and Tax Consultants to meet audit requirements, file tax returns on time, and follow up as necessary.

  • Collaborate with the Sales/Marketing Manager to issue credit notes to customers regularly and schedule collection review meetings with the sales team.

  • Coordinate with the Supply Chain/Purchase department to ensure timely recording of daily purchases of raw materials/packaging materials and forwarding of invoices to the accounts department.

  • Liaise with the Production department to ensure accurate updates on production batches, facilitating cost-related activities in the accounts department.

Location: Addis Ababa, Ethiopia

Reporting to: Deputy General Manager - Finance

Functional Relationships: General Manager and Department Managers

Job Requirements

Qualification and Experience Requirements                    
  • Master's / Bachelor’s degree in Accounting or Accounting and Finance from a recognized University.

  • Proven 9-10 years of relevant work experience.

  • Prior knowledge of Integrated Accounting Systems like SAP/ERP/Oracle -IFMIS is an asset.

  • Manufacturing and FMCG exposure are required.

  • Good analytical skill, global perspective, financial acumen, Achievement orientation

  • Leadership, motivate others, conflict management, strategically thinking

  • Attention to detail and accuracy in maintaining records and documentation.

  • Flexibility to adapt to changing priorities and handle unexpected situations calmly and efficiently.

  • Punctuality and reliability in attending to assigned duties.

 Additional Requirements

  • Proficiency in MS excel, MS PowerPoint, and MS Outlook.

  • Ability and willingness to work long hours and work with other staffs.

  • Flexibility and ability to stay effective and motivated in a fast-changing environment.

  • Knowledge of local laws of the country.

  • Should have good command in English (Oral & Written).

  • Must be a good team player.

  • The incumbent should be dynamic, well organized, self-driven & have a good personality.

  • Able to work under pressure and complete the task within a preset time-frame.

  • Good inter-personal & communication skills.

Technical Competencies

  • Strategic Planning

  • Financial Management

  • Risk and Change Management

  • Leadership and Team Management

  • Stakeholder Management

  • Business Development

 Behavioural Competencies

  • Analytics

  • Interpersonal Skills

  • Adaptability

  • Problem-Solving

  • Attention to Detail

  • Organizational Skills

  • Communication Skills

  • Stress Management

  • Initiative

  • Time Management

  • Teamwork

  • Flexibility

How to Apply

Application Procedure

Review of applications will begin as soon as they are received and only complete applications will be considered. In the event that an outstanding applicant is identified early in the search process, we reserve the right to appoint them before the deadline. For this reason, we encourage interested candidates to apply at the earliest possible time. Due to the high volume of applications, we regret that we will only be able to contact shortlisted candidates. 

Application Instructions

Submit your updated resume and cover letter via email: open.vacancy@kadiscopaint.com 

NOTE: Please mention the job title “Application for the position of Deputy Finance Manager” in the subject line of the email.

Fields Of Study

Accounting

Accounting & Finance

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