Head of Finance and Administration at Vanguard Life Assurance (VLA) Company Limited

Vanguard Life Assurance (VLA) Company Limited is a fast growing locally registered Financial Services Company which started its operations on 1st January 2001. Its line of business is the provision of financial security through life assurance investment solutions and other related financial services. It also has a subsidiary, Vanguard Pension Services Company Limited, which champions reputable administration of pensions.

We seek to recruit a suitably qualified and experienced individual for the position as described in summary below:

Job Role: Head of Finance and Administration

Reporting to: The Managing Director
Direct Subordinate(s): (1)Finance Manager–Operations, (2) Finance Manager–Budgeting Investments and Reporting
Contract Type: Full Time
Location : Head Office – Blantyre

Position Summary:

The Head of Finance and Administration plays a critical role in overseeing all financial and administrative functions within the organization. This position requires a seasoned finance professional with extensive experience in strategic financial management, accounting principles, leadership and strategic planning as well as operational skills to ensure the efficient and effective management of resources. The individual will be esponsible for ensuring the financial health, compliance, and integrity of the organization while providing strategic insights to support decision-making processes.

Responsibilities

1. Financial Planning, Management and Analysis

• Develop and implement financial strategies, policies, and procedures to ensure the organization’s financial health and compliance with regulations.
• Prepare and manage budgets, forecasts, financial reports, and variance analysis.
• Conduct financial analysis, forecasting, and modelling to support strategic planning and decision-making.
• Oversee cash flow management, investments, and financial risk management.
• Monitor financial performance against budgets, targets, and key performance indicators (KPIs).

2. Strategic Planning and Decision Support

• Partner with senior management to develop long-term financial strategies and business plans.
• Provide financial analysis and insights to support decision-making, investment opportunities, and optimise resource allocation.
• Evaluate the financial implications of strategic initiatives and recommend courses of action.

3. Financial Reporting and Compliance:

• Oversee the preparation and presentation of accurate and timely financial reports, including income statements, balance sheets, and cash flow statements.
• Ensure compliance with accounting standards, regulatory requirements, and internal policies.
• Coordinate internal and external audits, responding to audit findings and implementing corrective actions as necessary.
• Maintain effective internal controls to safeguard company assets and mitigate financial risks.

4. Budgeting and Cost Management

• Lead the annual budgeting process, working closely with department heads to develop realistic and actionable budgets.
• Monitor budget execution, analyze variances, and implement cost control measures where
  necessary.
• Identify opportunities for cost optimization and efficiency improvements across the organization.

5. Cash Management and Treasury

• Manage cash flow, liquidity, and working capital to support operational needs and strategic initiatives.
• Optimize cash management practices, including investment strategies and financing arrangements.
• Monitor banking relationships and negotiate terms to maximize returns and minimize costs.

6. Financial Operations and Systems

• Oversee financial operations, including accounts payable, accounts receivable, payroll, and tax
  compliance.
• Evaluate effectiveness of and enhance financial systems, processes, and controls to improve
  efficiency and accuracy.
• Ensure the integrity and security of financial data and systems.

7. Leadership and Team Management

• Provide strong leadership and mentorship to the finance team, fostering a culture of collaboration, accountability, and continuous improvement.
• Recruit, train, and develop finance staff to build a high-performing team.
• Delegate responsibilities effectively and empower team members to contribute to departmental
  and organizational goals.
• Conduct performance evaluations and facilitate professional development opportunities for team members.

8. Administrative Operations

• Manage administrative functions such as facilities management, procurement, and vendor
  relationships. Develop and implement administrative policies and procedures to streamline
  operations and ensure compliance.
• Oversee the management of office infrastructure, including IT systems, equipment, and supplies.

9. Qualifications and Skills

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field; applicants with an MBA or an Advanced Degree in related fields will have an advantage.
• Chartered Accountant is a must
• Must be a member of ICAM
• Proven experience; at least 8 years 5 of which should be in a senior finance role, preferably within Life Insurance and Pension Sector or financial services.
• Strong understanding of financial principles, accounting practices, and regulatory requirements.
• Excellent leadership, communication, and interpersonal skills.
• Strategic thinker with the ability to translate financial data into actionable insights.
• Proficiency in financial software and MS Office Suite; experience with ERP systems preferred.
• Demonstrated ability to manage multiple priorities and deliver results in a fast-paced environment.

Benefits:

• Competitive salary commensurate with experience.
• Comprehensive benefits package including health insurance, retirement plans
• Opportunities for professional growth and development.
• Positive and dynamic work environment with a collaborative team culture.

Method Of Application

Interested candidates should submit a resume and cover letter outlining their qualifications and experience to [email protected] not later than Friday, 10th May 2024.

Only shortlisted candidates will be contacted for interviews.

“Vanguard Life Assurance Company Limited is an equal opportunity employer, so, all qualified applicants will receive consideration for employment on merit without regard to race, colour, religion, gender, tribe, disability status, or any other characteristic protected by law.”