Head, Financial Reporting at Egbin Power Plc

Egbin Power Plc is one of the largest contributors to Nigeria’s electricity industry. The power station, located in Lagos, is widely regarded as the largest single generating power station in Sub-Saharan Africa. It was built to support the growing electricity demand in Lagos and surrounding areas.

Following Nigeria’s privatization exercise, Sahara, through its power division, Sahara Power Group and its affiliates, acquired the 1320 MW installed capacity Egbin Power Plant. The organization is working towards deploying a minimum of 5,000 MW of electricity generation within the next five years.

The Head, Financial Reporting is responsible for coordinating and managing the accurate recording and reporting of the company’s financial statements.

• Develop annual Revenue Management (RM) goals
• Coordinate investigation, analysis, evaluation, and resolution of revenue related issues during disputes on revenue recognition
• Periodically review and report the status of billing with the Market Operator, Bulk Trader, Eligible Customers, and outsourced functions
• Review revenue impacting policies, processes, and activities in line with the realities of the Nigerian environment and support recommendations for policy modifications
• Perform monthly energy and capacity reconciliation with the commercial and contracts unit for revenue recognition
• Provide suggestions to management and the Board on potential revenue sources
• Ensure timely and accurate recording of direct payments and cash receipts from power buyers
• Monitor credit transactions to ensure compliance with agreements, policies, and procedures and report any contraventions or exceptional cases
• Participate in implementing recovery strategies to ensure timely collection of market receivables
• Oversee timely reconciliation of the company’s balance sheet and resolution of identified exceptions
• Collate inputs and translate them into agreed formats for management reporting
• Ensure prompt preparation of month end balances and financial statements
• Ensure timely preparation and submission of monthly, quarterly, and annual financial statements including profit and loss, cash flow, and statement of financial position
• Prepare the unit’s budget inputs and contribute to firm wide budgeting processes
• Design and develop a unit plan that outlines how the department will deliver organizational requirements
• Coach, mentor, and conduct performance appraisals for team members
• Prepare periodic reports for the Chief Financial Officer
• Approve expenditure within assigned approval limits
• Perform other duties assigned by the Chief Financial Officer

Education and Work Experience

• Bachelor’s Degree or equivalent in Accounting, Finance, Economics, or a related discipline
• Relevant professional certification such as ACA, ACCA, CIMA, or CFA is required
• Minimum of ten years relevant work experience, including at least three years in a managerial role

Skills and Competencies

• Good understanding of micro and macroeconomic indices and their impact on business operations
• Knowledge of trends, challenges, opportunities, regulations, and legislation affecting the power sector and revenue generation
• Good knowledge of the wholesale electricity market and relevant settlement mechanisms
• Working knowledge of the Multi Year Tariff Order, cost assumptions, and return on investment models
• Strong understanding of foreign exchange operations and related regulations
• Advanced financial and accounting knowledge, including IFRS and international financial reporting standards
• Knowledge of Financial Reporting Council and Nigerian Electricity Regulatory Commission financial reporting requirements
• Strong financial and commercial business acumen
• Excellent communication and interpersonal skills

Interested and qualified candidates should apply through the official online application portal.