Finance Controller

Job Description – Financial Controller
Company: Lake Cement Limited
Location: Tanzania
Reporting To: Director 
Department: Finance & Accounts

1. Role Purpose
The Financial Controller is the principal financial custodian of the company,
responsible for financial integrity, statutory compliance, internal controls, and
transparent reporting directly to the MD.
The role provides independent financial oversight, ensuring disciplined cost
management, strong governance, and accurate decision-support information for top
management.

2. Key Responsibilities
A. Financial Reporting & Control
·       Prepare and present monthly, quarterly, and annual financial
statements directly to the MD in line with IFRS
·       Ensure timely month-end and year-end closing with high accuracy and
minimal audit adjustments
·       Maintain strong control over general ledger, sub-ledgers, reconciliations,
provisions, and accruals
·       Oversee fixed assets accounting, capitalization, depreciation, and
impairment reviews
·       Ensure integrity of financial data across ERP and reporting systems

B. Budgeting, Cost Control & Performance Monitoring
·       Lead annual budgeting and rolling forecast exercises and present to the MD
·       Monitor plant and functional cost centers (power, fuel, raw materials,
logistics, maintenance, manpower)
·       Analyse cost per ton of clinker and cement, margins, and efficiency trends
·       Identify cost leakages and inefficiencies and recommend corrective actions
·       Support management initiatives for cost optimization and productivity
improvement

C. Statutory, Tax & Regulatory Compliance
·       Ensure full compliance with Tanzanian laws and regulations, including:
o   TRA (VAT, Corporate Tax, WHT, excise/levies)
o   BRELA filings
o   NSSF, NHIF, OSHA and other statutory bodies
·       Act as the primary interface with TRA, auditors, and regulators
·       Manage tax audits, assessments, and disputes, keeping the MD informed of
risks and exposures
·       Ensure proper tax planning and compliance documentation

D. Internal Controls, Risk & Governance
·       Design and enforce robust internal financial controls and SOPs
·       Ensure segregation of duties across procurement, stores, sales, dispatch,
and finance
·       Oversee credit control, dealer balances, discounts, rebates, and
provisions
·       Monitor inventory valuation, physical verification, and slow/non-moving
stock
·       Report control weaknesses, financial risks, and compliance gaps directly to
the MD

E. Cash Flow, Working Capital & Treasury
·       Prepare and monitor cash flow forecasts and funding requirements
·       Control receivables, payables, inventory days, and working capital cycle
·       Coordinate with banks on accounts, limits, guarantees, LCs, and facilities
·       Ensure compliance with authority matrices and payment controls

F. Management Reporting & Decision Support
·       Provide independent financial insights to the MD for:
o   Pricing decisions

o   Contract structuring
o   Dealer schemes and incentives
o   CAPEX and expansion projects
·       Prepare MIS dashboards and board-level summaries
·       Support investment appraisals, ROI analysis, and project cost monitoring

3. Team Leadership
·       Lead and develop the finance & accounts team
·       Enforce discipline in closing timelines, documentation, and compliance
·       Build a strong control-oriented finance culture across the organization

4. Qualifications & Experience
Education
·       Chartered Accountant (CA) / ACCA / CPA or equivalent
·       Bachelor’s degree in Finance, Accounting, or Commerce (mandatory)
Experience
·       15 years of progressive finance experience
·       10 years in manufacturing, preferably cement or heavy industry
·       Strong exposure to Tanzanian statutory and tax environment preferred

5. Key Skills & Attributes
·       Strong IFRS and manufacturing cost accounting knowledge
·       High integrity and independence of judgment
·       Ability to challenge numbers and assumptions constructively
·       Hands-on ERP and MIS capability
·       Strong communication with MD, auditors, banks, and regulators

6. Key Performance Indicators (KPIs)
·       Accuracy and timeliness of financial reporting to MD

·       Clean audit reports with minimal observations
·       Zero statutory penalties or compliance lapses
·       Improvement in cost control and working capital metrics
·       Quality of financial insights supporting MD decisions

7. Positioning Note (Important)
This role is positioned as a strong financial control function reporting directly to
the MD, independent of operational pressures, ensuring governance,
transparency, and financial discipline across Lake Cement.