Project Finance Manager at eRecruiter Nigeria

• The Project Finance Manager (Construction Projects) plays a crucial role in managing the financial aspects of constructing a new catering building.
• This role is pivotal for ensuring stringent cash and cost control, effective budget management, and active participation in the procurement process.
• The incumbent will be responsible for reviewing quotes, supporting negotiations, participating in supplier selection decisions, monitoring expenditures, forecasting financial needs, and providing regular financial reports to ensure the project remains within the allocated capital expenditure (CapEx) budget.

Responsibilities:

Budget Management

• Develop and manage the project’s budget in alignment with the set criteria.
• Monitor and control project expenditures to ensure they remain within the approved budget.
• Provide accurate financial forecasting to anticipate future funding needs.
• Ensure budget adherence and recommend adjustments as needed.

Procurement Support and Vendor Management

• Review and analyze quotes obtained during the procurement process to ensure cost-effectiveness and alignment with the project budget.
• Support the negotiation of prices, payment terms, and other financial aspects of vendor contracts.
• Participate in supplier selection, ensuring financial considerations are prioritized.
• Collaborate with the procurement team to align purchases and contracts with the project’s financial goals.
• Monitor vendor performance and payment timelines to ensure compliance and efficiency.

Cost Control

• Implement and maintain robust cost control measures to minimize financial risks.
• Analyze cost variances and provide recommendations for corrective actions.
• Review and approve project-related expenses, ensuring they are within budget and justified.

Cash Flow Management

• Monitor and manage the project’s cash flow to ensure sufficient liquidity for ongoing operations.
• Prepare and submit regular cash flow reports to the Project Manager, General Manager, and Regional Finance Director.
• Coordinate with suppliers and contractors to manage payment schedules and negotiate favorable terms.

Financial Reporting

• Prepare detailed financial reports, including budget vs. actual expenditure analysis, for stakeholders.
• Ensure timely submission of all financial reports to relevant authorities and project stakeholders.
• Assist in preparing financial statements and project audits as required.

Risk Management

• Identify and assess financial risks associated with the project and develop mitigation strategies.
• Ensure compliance with financial regulations and company policies.
• Work closely with the HSE Officer and Quality Assurance Manager to align financial risks with overall project risks.

Job-Specific Qualifications/Knowledge

• Bachelor’s degree in Finance, Accounting, Economics, or a related field.
• Minimum of 5 years of experience in financial management, preferably in construction project management.
• Strong knowledge of financial management principles, including budgeting, forecasting, and cost control.
• Experience in procurement processes, including quote review, negotiations, and supplier selection.
• Proficiency in financial software such as Excel, QuickBooks, and SAP.
• Experience with financial analysis and reporting.
• Excellent analytical, problem-solving, and decision-making skills.
• Strong attention to detail and ability to work under pressure and meet deadlines.
• Effective communication and interpersonal skills.
• Ability to work independently and manage multiple priorities.
• Project Management certification (e.g., PMP, IPMA) is preferred.
• Fluency in English; understanding of Hausa is a plus.

Key Performance Indicators

• Accurate budget management with minimal variances.
• Effective cost control and mitigation of financial risks.
• Timely and accurate financial reporting.
• Successful negotiation and management of vendor contracts.
• Positive feedback from cross-functional teams on collaboration and financial support.