National Oil Company of Malawi (NOCMA)
The National Oil Company of Malawi (NOCMA) whose main objective is to ensure security of fuel supply in Malawi is a wholly owned Malawi Government Company established under the Company’s Act of 1984 on the 10th of December 2010 and commenced its operations in 2012. NOCMA is responsible for managing the Country’s 60 million litres Strategic Fuel Reserves facilities situated
in Blantyre, Lilongwe and Mzuzu, and smaller depots in Chilumba, Chipoka and Mchinji.
Over the past thirteen (13) years, the Company has grown tremendously in its national strategic importance with its fuel importation market share growing from ten percent (10%) in 2015 to an average of sixty-five percent (65%) in 2023/2024 and this has been matched with growth in institutional capacity and investments to enable efficiency and effectiveness in executing its mandate.
In its drive to ensure improved and sustained efficiency and effectiveness in delivery of its mandate, NOCMA is seeking to recruit qualified and experienced candidates to fill the following highly rewarding positions that have arisen within the Company.
An attractive remuneration package is on offer to the right candidates with prospects for career growth within the oil industry.
Applications are therefore invited for the following positions:
FINANCE MANAGER (FINANCIAL ACCOUNTING) (NOC04) – CODE: FMFA2023 – Tenable at Head
Office in Lilongwe
PURPOSE
To oversee and manage the financial accounting functions within NOCMA’s Finance Department. This
role is crucial in maintaining accurate financial records, preparing financial reports, and ensuring compliance with financial regulations specific to the oil and gas industry.
The Finance Manager (Financial Accounting) plays a key role in providing financial insights, supporting decisionmaking, and contributing to the overall financial health and success of NOCMA.
KEY DUTIES AND RESPONSIBILITES
1. Monitoring and controlling cash flow and provided updates to Management on financial status of the Company.
2. Overseeing all aspects of working capital management including payables and receivables
reconciliation.
3. Monitoring short term and long-term investments and supporting the Director of Finance in negotiating investment earning rates.
4. Coordinating the establishment of Letters of Credit, tracking payments made against LC facilities, and carrying out end of period revaluations in respect of foreign suppliers.
5. Review and recommend to Director of Finance approval of all payment requests.
6. Managing financial and accounting systems in the centralized SAP ERP system
7. Coordinate annual statutory audits and participate in the implementation of audit findings from both internal and external auditors.
8. Enforcing compliance with financial and accounting policies and generally accepted accounting practices
9. Confirming the authenticity and accuracy of financial records before being posted in the SAP ERP
accounting and related modules.
10. Taking a leading role in identifying risks and financial internal control gaps and recommending to
management for improvements
11. Overseeing banking, cash disbursements and preparation of monthly bank reconciliations
12. Ensuring timely payment of all statutory payments including taxes, TEVETA and fuel levies
13. Liaising with the Human Resources and Administration Division in processing of payroll
earnings and deductions
14. Supervising, leading, and appraising subordinate staff in the Division.
REPORTING LINE AND SUPERVISORY
RESPONSIBILITY
The Finance Manager – Financial Accounting reports to the Director of Finance and has supervisory responsibility over the Senior Finance Officer – Financial Accounting.
THE PERSON
The required candidate should have the following competences, skills, and attributes:
1. Planning and organizing – ability in planning and organizing for delivery of required outputs
2. Performance management – ability to set Key Performance Indicators (KPIs) and oversee their
achievement.
3. Communication and reporting – ability to prepare and present professionally researched papers that comply with standard policies and other requirements.
4. Building and maintaining partnerships – ability to build a network of external stakeholders and alliances with government counterparts, and other stakeholders to promote and advance the work of the Company.
5. Thinking and acting strategically – ability to understand the big picture and to identify potential
opportunities for action and challenges that exist.
QUALIFICATIONS AND EXPERIENCE
1. Bachelor of Accountancy or a related field, from an accredited institution. Possession of a Master’s
Degree in a relevant field will be an added advantage.
2. At least five (5) years of full & current membership of ACCA, CIMA, or a related professional body.
a) A minimum of eight (8) years’ cumulative work experience, five (5) of which should have been
spent at managerial level in a similar role.
Method Of Application
Interested candidates who meet the required qualifications and experience should send applications with cover letter, copies of certificates, detailed curriculum vitae (CV), names, addresses and phone contact numbers of three traceable referees to the following address:
The Chief Executive Officer
National Oil Company of Malawi
4th Floor, Kang’ombe House, City Centre
Private Bag 370
Lilongwe
Attention: The Human Resources & Administration Manager
Email: nocmajobs@nocma.mw
Applicants should state clearly on the envelope or in the subject line of an email, the Code for the Post they are applying for.
The closing date for receipt of applications is 2nd September 2023
Female candidates are strongly encouraged to apply as NOCMA is committed to achieving relevant gender ratios stipulated in the Gender Equality Act, 2013.