Ajibade Afolayan
Senior Accountant Expert
Lagos
Summary
Resourceful Accounting professional with ten years of experience in tax , audit preparation, controls and reporting. privileged to be part of a Global Finance team adjudged World Class in Finance Operations, and Reporting 2018 till date, by the Hackett Benchmarking Group.
Overview
10
10
years of professional experience
1
1
year of post-secondary education
Work History
Senior Accountant Expert West & Central Africa
Tetra Pak West Africa Ltd.
Lagos
07.2022 - Current
- Tax Planning and Filing for entire West Africa Market
- Key partner in the Simplify, Automate, and Saves time, and effort programe of the Finance Department
- Transfer Pricing Local File review
- Cost Centre Reporting, worked with products, oversaw revenue management and facilitated outreach to key stakeholders, helping drive business.
- Sharpened skills by obtaining required continuing education credits and attending training to keep updated on legislative and industry changes.
- Maintained current knowledge in Artificial Intelligence and Robotics application to Finance.
- Contributed to event marketing, sales and brand promotion.
- Reviewed documents and accounts for discrepancies and resolved variances.
- Prepared monthly journal entries and reconciliations.
- Completed year-end closing processes with controllers and external auditors.
- Updated general ledger with latest entries.
- Reconciled balance sheets and streamlined best practices for balance sheet processes, and monthly balance sheet review
- Handled month-end and year-end end closing.
- Partnered with auditors to track errors and add contributions to maintain accuracy.
- Evaluated and improved financial records to make important business decisions.
- Leveraged finance knowledge to strengthen controls and improve transparency.
- Recommended strategies to expedite filing projects and annual reporting.
- Assisted company administrators with accessing and viewing available reports.
Senior Accountant
BHQ Media
Lekki Phase 1
09.2020 - 06.2022
- Review all raised invoices
- Performance of Credit Controls activities
- Implement Quality Management System in Finance
- Manages all Loan Obligations of the Firm
- Tax Management & Compliance
- Generated and presented monthly financial statements to senior management.
- Managed entire accounting cycle from data collection and analysis to HMRC lodgement.
- Partnered with auditors to prepare yearly audits and ensure compliance with governmental tax guidelines.
- Led team of 4 staff to achieve goals through proactive planning and coaching.
- Created and implemented procedures and best practices for bank reconciliation process.
- Identified areas for cost improvement that resulted in NGN8,500,000 in annual cost savings.
- Analyses budgets and financial projections for accurate reporting of company performance.
- Completed year-end closing processes with controllers and external auditors.
- Reviewed documents and accounts for discrepancies and resolved variances.
- Handled month-end and year-end end finances by managing and reporting fixed assets and other data.
Internal Control Specialist and Management Accountant
Silverbird Group West Africa
Lagos
02.2018 - 08.2020
- Calculated and posted month end journals in full compliance with company regulations.
- Proactively analyses sales data, trends and reports to improve data accuracy by 15% in order to support operational processes.
- Employed commercial awareness in digital marketing to liaise with digital and online marketing contractors confidently.
- Prepared and maintained Internal controls, including reconciliations and settlements, prepayments and accruals.
- Improved workflow by 8% by liaising with key functional areas such as finance, operations and logistics.
- Analyses 6 key P&L accounts, investigating unusual activity to ensure accuracy and apply effective risk management strategies.
- Supported Monthly and Yearly audit process through pre-audit and continuous reviews.
- Reduced costs by 9 % by devising budgeting strategies based on initiated cost control, & variance analysis results.
- Accurately documented all cash, credit, fixed assets, accrued expenses and line of credit transactions.
- Generated reports detailing findings and recommendations.
- Developed and updated tracking spreadsheets for process monitoring and reporting.
- Educated staff on organizational mission and goals to help employees achieve success.
- Maintained database systems to track and analyze operational data.
- Provided reporting for forecast analysis and ad-hoc reporting in support of decision-making.
- Conducted regular reviews of operations and identified areas for improvement.
- Evaluated staff performance and provided coaching to address inefficiencies.
- Created and managed project plans, timelines and budgets.
Internal Auditor
Silverbird Group
Lagos
02.2018 - 08.2020
- Review analyzed and maintain the risk register,
- Designs and supervises the implementation of an effective internal control system and audit frame work
- Investigates all cases of non-compliance or infractions of internal policies, procedures and external regulatory standards as well as make recommendations to management as applicable
- Prepares the annual audit plan
- Manages performance of audit assignments, reviews work papers and audit reports
- Schedules and plans audit exercise; initiates project planning, assess risk and develop audit direction
- Performs preliminary planning and establishes direction for audits, provides leadership to assigned auditors, manage project to quality outcomes
- Performs audit work, including plan preparation, work papers, finding, and associated reports; verifies the accuracy of financial records as they pertain to assets, liabilities, receipts, expenditures, and related transactions
- Carry out other duties and responsibilities, as may be assigned by the Managing Director or by the
- Board.
ACCOUNTANT, Finance Officer Ghana & Nigeria
Silverbird Group Finance
Lagos
11.2017 - 02.2018
- Intracompany Reconciliation
- Intercompany Reconciliation
- Payables
- Validation of Postings on Accounting Software
- Budgeting and Budgetary Control.
- Reconciled accounts from income and expense data to net worth and assets.
- Updated journal entries and accounts on accrual basis with Sage 300 software.
- Filed tax returns and prepared governmental reports in compliance with strict standards.
- Organised and carried out efficient month-end, quarterly and year-end processes.
- Set up and improved accounting systems and processes to meet business needs and maximise effectiveness of operations.
- Cooperated with senior leaders to create operating budgets and initiate financial planning.
- Resolved invoice coding and tracked recurring expenses for accrual entry.
- Documented cash, credit, fixed assets, accrued expenses, and line of credit transactions.
- Established and enforced controls on revenue and expenses to protect company assets.
- Completed daily cash functions like account tracking, payroll and wage allocations, budgeting, donating, and cash, and banking reconciliations.
- Collaborated with team leaders to define standards, policies and procedures to meet company revenue goals.
- Drove profit increases through market research and strategic asset management to meet dynamic industry conditions.
Expatriate Accountant
TM Cinemas & Properties - Monrovia Liberia
07.2017 - 10.2017
- Accurately documented all cash, credit, fixed assets, accrued expenses and line of credit transactions.
- Reconciled accounts from income and expense data to net worth and assets.
- Trained new employees on accounting principles and company procedures.
- Maintained integrity of general ledger, including chart of accounts.
- Set up and improved accounting systems and processes to meet business needs and maximise effectiveness of operations.
- Resolved invoice coding and tracked recurring expenses for accrual entry.
- Filed tax returns and prepared governmental reports in compliance with strict standards.
Finance Administrator
Silver bird Cinemas Ltd
11.2015 - 07.2017
- Reconciled daily cash sales /Vista software report
- Improved financial controls through expenses validation, resulting in 5% increase in profitability Monthly.
- Proactively reduced expenditure by NGN8,00,000 monthly over 2 Years period through dedicated cost review and revalidation.
- Identified discrepancies in POS accounts remittances and EOD Cashier records, implements reconciliations, promptly correcting to maintain revenue and cash integrity.
- Supported month-end processes including journal posting and reconciliations to maintain department efficiency.
- Perform back office sale and cashier reconciliations using vista
- Coordinated 5 staff members to achieve optimal workflow and reach monthly reporting and compliance targets
- Tax computation and remittance
- Coordinate all foreign exchange transactions
- Supervises the Account Officer, Store department, and Cashiers
- Reconciles vendors/suppliers/film distributors accounts with the terms
- Prepares the daily Cash and Bank positions and send to the CFO
- Prepares Monthly Management Report, MPR, & Bank Reconciliations
- Periodic stock taking and reconciliation
- Prepares all management and bank required reports
- Cash Management
- Processed accounts payable and accounts receivable transactions with strict attention to detail to reduce errors.
- Tracked and documented expenses to maintain operations within budget.
Treasury Officer
Bankers Warehouse Plc
Lagos
07.2014 - 10.2015
- Receive and audit bulk cash from Central Bank of Nigeria (CBN) officers to vault
- Investigate any discrepancies and report to management
- Receive and audit bulk cash from Deposit Money Banks (DMB) officers
- Analyze the audit trail and balances daily cash exchange with vault balances
- Prepares the manifest for cash distributions to banks branches base on client instructions
- To the Central Bank Cash processing witnessing, (external Auditor)
- Completed audit trail forms and updated internal records for completed transactions.
- Facilitated seamless credit operations, acting as a liaison between client, Commercials Banks and CBN Vaults department.
- Reviewed and certified official Treasury /vaults positions statements from commercial banks, and presentation to BW Plc and the CBN Officers
Audit Executive
MBO Russell Bedford Chartered Accountants
Lagos
06.2013 - 07.2014
- Vouching and casting of transactions from source documents to primary books
- Preparation of debtors, creditors, general ledgers and extraction to trial balance
- Preparation of final audited financial statements
- Preparation of documents with respect to tax matters
- Performs test of controls on clients financial records
- Re-evaluate clients internal control
- Applied risk focus, professional skepticism and judgment to deliver efficient audits with 55% on-time score.
- Advised management on financial details related to business operations, inventory levels, and budgets.
- Helped resolve disputed claims as official client representative to tax officials.
- Assessed accounts and accounting systems in cases of alleged criminal activity.
- Produced accurate tax returns complying with official requirements and serving client needs for minimising liabilities.
- Reviewed and certified official financial statements for presentation to shareholders and governing bodies.
- Compiled financial data for business forecasting and budgeting.
- Conducted regular reviews and official audits to validate recordkeeping and controls.
Education
Certificate of Higher Education - Online & Digital Marketing
Google
Remote Online 07.2022 -
Certificate of Higher Education - Excel for Business Analytics and Reporting
Virginia Institute of Finance Dubai
Victoria Island LagosCertificate of Higher Education - Internal Audit a refresher course
Tom Associates
LagosMaster of Science - Accounting
University of Lagos
Akoka, LagosCertificate of Higher Education - Mastering Internal Controls & Cash Management
Tom Associates Lagos
Obanikoro LagosCertificate of Higher Education - Financial Modelling using Excel 2016 and beyond
Phillips Consulting
Victoria Island LagosBachelor of Science - Accounting
University of Lagos
Akoka, LagosDiploma of Higher Education - Business Management
The Federal Polytechnic Ilaro Ogun State
IlaroSkills
Sound knowledge of IFRSSound judgment of business risk exposures
International Internal Audit Exposure in Ghana, Nigeria, Liberia and Gambia
Financial Modeling, Forecasting & Budgeting SkillsProficient in the use of SAP-ERP, BOFC, BO, Deloitte Tax Tool, Concur, Vista, SAGE, Advance Excel
Updated knowledge of latest tax laws, & tax management practicesContract negotiating skills (cost control functions)General ledger accounting
Transfer Pricing Documentation & Review
Tax accounting specialization
Annual reports
Account reconciliation specialist
Optimal Cash Flow Management
Multinational Accounting, and Control Exposure
Accomplishments
World Class in Financial Operations and Reporting by Hackett Benchmarking 2022. (among the only two companies in 2022)
World Class in Finance Operations and Reporting 2018-date.Hackett Group
Timeline
Senior Accountant Expert West & Central Africa
Tetra Pak West Africa Ltd.
07.2022 - Current
Certificate of Higher Education - Online & Digital Marketing
Google
07.2022 -
Senior Accountant
BHQ Media
09.2020 - 06.2022
Internal Control Specialist and Management Accountant
Silverbird Group West Africa
02.2018 - 08.2020
Internal Auditor
Silverbird Group
02.2018 - 08.2020
ACCOUNTANT, Finance Officer Ghana & Nigeria
Silverbird Group Finance
11.2017 - 02.2018
Expatriate Accountant
TM Cinemas & Properties - Monrovia Liberia
07.2017 - 10.2017
Finance Administrator
Silver bird Cinemas Ltd
11.2015 - 07.2017
Treasury Officer
Bankers Warehouse Plc
07.2014 - 10.2015
Audit Executive
MBO Russell Bedford Chartered Accountants
06.2013 - 07.2014
Certificate of Higher Education - Excel for Business Analytics and Reporting
Virginia Institute of Finance Dubai
Certificate of Higher Education - Internal Audit a refresher course
Tom Associates
Master of Science - Accounting
University of Lagos
Certificate of Higher Education - Mastering Internal Controls & Cash Management
Tom Associates Lagos
Certificate of Higher Education - Financial Modelling using Excel 2016 and beyond
Phillips Consulting
Bachelor of Science - Accounting
University of Lagos
Diploma of Higher Education - Business Management
The Federal Polytechnic Ilaro Ogun State