Director of Finance – Tobacco Commission

Job Description

Applications are invited from suitably qualified candidates of Malawian origin to fill the position of Director of Finance tenable at Tobacco Commission’s Head Office in Kanengo, Lilongwe.

THE ORGANISATION

The Tobacco Commission (the Commission) is a Statutory Corporation established by an Act of Parliament, the Tobacco Industry Act No 5 of 2024. Its major function is to regulate and promote the development of the tobacco industry in Malawi.

In order to effectively and efficiently fulfil its mandate, the Commission now invites suitably qualified and experienced dynamic individuals to fill the challenging and exciting position of Director of Finance (Grade TC 2), on a fixed term employment contract.

GENERAL DESCRIPTION OF THE JOB

The Director of Finance (DOF) will be responsible for managing and accounting for financial resources including current and non-current assets. He will also be responsible for the provision of professional advice to promote prudent and efficient financial management and accounting practices and systems for the mobilization, allocation and proper utilization of financial assets and resources in accordance with the strategic objectives and goals of TC.

KEY DUTIES AND RESPONSIBILITIES

The Director of Finance shall be responsible for the following:-

1. Developing the commission’s financial strategy to ensure the commission achieves sustainability in its operations.
2. Guiding and overseeing the overall finance function in line with the Commission’s set goals and adherence to organizational and individual performance management system (PMS) requirements within all the operating areas of the finance division.
3. Liaising and supporting the work of external auditors and all other authorized oversight and evaluation processes, with respect to financial performance and financial governance of the Commission.
4. Formulate, schedule and implement work plans for the Department;
5. Timely production of monthly, quarterly and year-end financial statements with schedules;
6. Prepare accounts books for External Audit;
7. Check cash balances on weekly basis;
8. Prepare financial statements for the Finance, Audit and Appointments Committee and Board;
9. Prepare Annual Budget in collaboration with other Department of the Commission taking into account their input;
10. Manage the Commission’s approved budget, paying special attention to budgetary expenditure control measures;
11. Advise Management on a regular basis the status of the finances of the Commission;
12. Invest cash surpluses where and when possible;
13. Oversee the coordination of the development and implementation of the Commission’s Strategic Plan and budget with particular attention to the efficient operational and financial performance of the Commission.
14. Optimize the allocation and utilisation of limited resources in the most productive areas so as to create maximum value for the Commission’s shareholders;
15. Prepare and pay salaries, wages and Board members;
16. Make reconciliations of intermediate buyer licence fees and weight licensed;
17. Maintain fixed assets register and reconcile the ledgers’ and register’s figures;
18. Make reconciliations of the Commission’s revenues – Cess, Licences, registration fees, impounded tobacco proceeds, penalties, interest;
19. Make timely payment to the Commission’s suppliers;
20. Provide dynamic and effective leadership of the department;
21. Set up goals, verifiable indicators of performance and to appraise staff in the department;
22. Monitor and evaluate the performance of
23. Departments and reporting systems to ensure compliance with legal instruments governing public institutions such as Public Finance Management Act, Public Procurement Act and Public Audit Act.
24. Prepare Departmental performance reports to feed into the Chief Executive Officer’s report to the board.

QUALIFICATIONS AND EXPERIENCE

1. A holder of a Bachelor’s degree in either Accountancy, Finance, Commerce, Business Administration or equivalent and a relevant Master’s degree in either Accounting, Finance, Commerce, Business Administration or equivalent obtained from a recognized reputable learning institution accredited by a National Council for Higher Education (NCHE) and should be Chartered Accountant with either (ACCA CIMA, or CAM) or any relevant accounting professional institution.
2. Requisite post qualification experience; at least 5 years post qualification experience in any senior level in finance.
3. Must be a registered member of Institute of Chartered Accountants in Malawi.

PERSON SPECIFICATIONS

1. Highly motivated, self-starters and innovative individual
2. Knowledge of facets of the tobacco industry
3. Computer literate and able to conduct market surveys on-line
4. Knowledge of the market and price trends
5. High analytical skills and excellent report writing and presentations skills
6. Be conversant with relevant account standards and procedures and public finance management regulatory frameworks.
7. Decision making and excellent planner
8. Excellent communications and interpersonal skills

APPOINTMENT AND REMUNERATION

The successful candidate shall be offered a negotiable performance related fixed term employment contract, with an attractive salary and benefits commensurate with the seniority of the position and qualifications of the candidate.

METHOD OF APPLICATION
Applications including Curriculum Vitae (CVs), with at least three (3) traceable referees and photocopies of relevant certificates and National Identity, should be sent to the following address or hand delivered not later than Monday, 16th September, 2024:-

The Comptroller
Department of Statutory Corporations
P.O. Box 30061
Capital City
LILONGWE 3

The applications must be clearly marked “Application for the position of Director of Finance for the Tobacco Commission”.

Only shortlisted applicants will be acknowledged and invited for Interviews at short notice.