Director of Finance at Electricity Generation Company (Malawi) Limited (EGENCO)

Applications are invited from suitably qualified persons of Malawi origin to fill the following Executive Management Vacant position tenable in the Electricity Generation Company (Malawi) Limited (EGENCO) at Head Office in Blantyre.

THE ORGANIZATION

Electricity Generation Company (Malawi) Limited (EGENCO) is a limited liability company incorporated under the Companies Act (Cap.46:03) of the Laws of Malawi on 7th September 2016.

The company is wholly owned by the Government of Malawi and was established with the mandate of generating electricity in Malawi. The Company started its operations on 1 January 2017.

To fulfill its mandate effectively and efficiently, the company now invites suitably qualified experienced dynamic individuals to fill the following challenging and exciting positions as follows:

DIRECTOR OF FINANCE (GRADE EG2) on a fixed term contract.

PURPOSE OF THE JOB

The position exits to contribute to the attainment of the company’s business objectives by providing strategic and financial guidance to ensure that the company’s commitments are met and developing all necessary policies and procedures to ensure sound financial management and control of the company’s business.

PERSON SPECIFICATIONS

• 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 CA(M) or any relevant accounting professional institution.
• Should be a registered member of Institute of Chartered Accounts in Malawi (ICAM)
• Must have Ten (10) years post-qualification experience of which 5 years should be worked at Senior Management level.
• Should be mature with demonstrable ability to work as a team leader,
• Be decisive, self-motivated, assertive with excellent communication and interpersonal skills,
• Have strong analytical, problem solving and decision-making skills,
• A team player and results oriented with extensive knowledge in finance and accounting,
• Be conversant with relevant accounting standards and procedures, public finance management regulatory frameworks.
• Have good Leadership and Team building skills.
• Proficiency in MS office
• Applicants with experience in the Power Generation industry will have an added advantage.

JOB SPECIFICATIONS

Reporting to Chief Executive Officer the job holder will among other responsibilities, be responsible for: –

1. Advising the Chief Executive Officer on financial matters in the company in his/her capacity as EGENCO’s Controlling Officer.
2. Developing the company’s financial strategy to ensure the company achieves sustainability in its operations.
3. Providing strategic financial leadership to the Board and Executive managers through financial analysis and guidance.
4. Guiding and overseeing the overall finance function in line with the Company’s set goals and adherence to organizational and individual performance management system (PMS) requirements within all the operating areas of the finance division.
5. Ensuring timely production of: –
   1. Annual Performance Management Plans and Budgets and budget revision, in accordance with relevant and applicable Government Laws; Policies; and Integrated Strategic Plan.
   2. audited financial statements, in accordance with IFRS and compliance with relevant legislation; and
   3. other financial reports to aid strategic planning, resource mobilisation, and engagements with partners and stakeholders.
6. Ensuring compliance with the Public Finance Management Act, Public Audit Act, Public Procurement and Disposal of Assets Act of the Laws of Malawi, as well as other relevant financial management requirements, such as statutes, regulations, procedures, and policies.
7. 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 EGENCO.
8. Overseeing financial policies and procedures to ensure effective financial management.
9. Ensuring timely collection of debtors to achieve company liquidity.
10. Ensuring the company maintains optimum stock holding.
11. Monitoring financial performance against financial targets and managing the company’s accounting function.
12. Approving the optimum financial structure for projects to ensure the right balance between equity, debt, and other sources of finance.
13. Project accounting, including the tracking of WIP against budget & measurement of benefits (financial, environmental & social).
    1. Ensuring financial, tax, and statutory regulations are complied with.
    2. Cashflow, liquidity, and debt management.
    3. Working with budget holders.
14. Supporting the organization through an exciting period of growth by ensuring the appropriate transition of processes and the implementation of appropriate internal controls.
15. Ensuring that the company makes investments in line with its long-term strategy.
16. Ensuring the company pays taxation in line with the provisions of the Taxation Act Attending board meetings and presenting management reports.
17. Overseeing the timely and accurate preparation of the Company’s accounts and presenting the Annual Accounts to the Shareholder.
18. Establishing working relationships with external parties and acting as a representative of EGENCO Limited.
19. Presenting the Performance Management Plans and budgets report to Treasury and the Board for approval.
20. Signing off performance scorecards with all direct reports and reviews departmental scorecards in alignment with divisional scorecard and appraise all direct reports.
21. Supporting commercial negotiations and sourcing capital.
22. Liaising with other Departments to ensure that resourcing, procurement; and stock holding of materials are compatible with good financial management practices.
23. Advise and determine viable electricity tariffs in liaison with relevant departments within the Company and the relevant regulator in the energy sector.
24. Minimizing risks impacting financial performance and financial governance by taking appropriate measures and options, relating but not limited to the following: –
    1. Internal controls aimed at safeguarding EGENCO resources and delivering accurate and timely financial reporting.
    2. Cost-benefit analysis.
    3. Credit control.
    4. Budgetary and treasury control.
    5. Expenditure and grants commitments; and
    6. Advising on value for money, financial viability, and other financial compliance with requirements.
25. And carrying out any other duties as assigned by the Chief Executive Officer.

Method of Application:

Application letters with comprehensive CV and three names and addresses of traceable referees and photocopies of relevant certificates and National Identity, should be sent to the following address or hand delivered not later than 15 July 2024 addressed to:-

The Comptroller of Statutory Corporations
PO Box 30061
Capital City Lilongwe 3
Capitol Hill

EGENCO IS AN EQUAL OPPORTUNITY EMPLOYER

The Applications must be clearly marked with the position one is applying for. For example; ‘Application for the Position of Chief Executive Officer for Electricity Generation Company (Malawi) Limited.”

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