Finance Controller

Document Reference: MPSUL/HR/JD/FC-01

Function: Finance

Entity: Master Power Systems Uganda Limited (MPSUL)

Reports To: Country Head Uganda and Rwanda

Functional Reporting: Group Finance, Master Power Group, on accounting policy, financial reporting, treasury and control matters

Geographic Coverage: Uganda; Rwanda where MPSUL carries the operations

Travel Requirement: Regular travel to project sites within Uganda; periodic travel to the Group office in Nairobi and to Rwanda as required

ROLE PURPOSE

The Finance Controller holds single-point accountability for the finances of Master Power Systems Uganda Limited the financial plan and the funding position, treasury and bonding, the integrity of the ledger and the reported result, statutory compliance in Uganda, and the control environment.

The role exists because an EPC business carries its risk in cash and in contract, not in the profit and loss statement alone. Work is bid before it is funded, executed before it is certified, and certified before it is paid. The Finance Controller is accountable for ensuring the Company holds the liquidity, facility headroom and bonding capacity to carry that gap across the order book, and that management sees the true cost-to-complete and margin position of every project in time to act on it.

Because the role is the senior finance position in the country, it is expected to operate credibly at every level. The incumbent will influence bid pricing, contract payment terms and procurement commitments before they are made, and will equally be capable of proving a reconciliation, defending a Uganda Revenue Authority assessment and closing the accounts on the Group calendar. The role reports to the Country Head for operational direction and to Group Finance on accounting policy, reporting, treasury and control and is expected to report the position as it is under both lines.

KEY RESPONSIBILITIES

1 Financial Planning and Business Partnering

Prepare the annual budget and rolling forecast for the Uganda operation revenue, margin, working capital, capital expenditure and funding requirement and present it to the Country Head and Group Finance for approval.

Test the plan for fundability before it is adopted: establish whether the order intake target can be bonded, whether the execution profile can be financed from available facilities and collections, and where the constraint binds.

Provide the financial view on bid pricing, contract payment terms, procurement commitments and subcontract arrangements before commitment, not after.

Advise the Country Head on the financial implications of new clients, sectors, delivery models or partnership structures in Uganda and Rwanda, supported by a quantified assessment of return, risk and funding requirement.

Evaluate capital expenditure and investment proposals on a consistent basis and recommend approval, deferral or rejection.

Accounting Operations and Ledger Control

Own the integrity of the Company's books of account, and ensure all transactions are recorded completely, accurately and in the correct period.

Ensure the accountants process payables, receivables, cash, payroll and journals to a defined daily and weekly discipline, with supporting documentation retained and retrievable.

Ensure all bank, supplier, customer, intercompany, inventory and control account reconciliations are prepared monthly, reviewed personally, and cleared of unexplained items.

Maintain the intercompany position with MPSL Kenya and other Group entities in agreement with the counterparty at each close, so that consolidation is not delayed by unreconciled balances.

Maintain the fixed asset register, verify assets physically on a defined cycle, and ensure depreciation, additions, transfers and disposals are correctly recorded.

Control site imprest, petty cash and staff advances, and ensure they are acquitted within the stipulated period.

Review and approve payment vouchers against the three-way match and the approved delegation of authority before release.

Financial****Reporting, Close and Audit

Close the monthly accounts to the Group calendar and submit the reporting pack to Group Finance complete, reconciled and on time.

Ensure revenue and margin on contracts are recognised on a defensible basis, supported by verified physical progress, certified valuations and a maintained cost-to-complete forecast not by management estimate alone.

Present the monthly finance report to the Country Head with analysis of variance against budget and the actions required, rather than a description of the numbers.

Prepare the annual financial statements in accordance with IFRS and the Ugandan Companies Act, and manage the statutory audit to a clean opinion within the agreed timetable.

Ensure audit findings and management letter points are remediated within the agreed period and do not recur in the following year.

Apply Group accounting policies consistently, and refer any matter requiring a policy judgement to Group Finance before it is booked.

Treasury, Banking and Liquidity

Maintain liquidity so that payroll, statutory obligations, supplier commitments and project execution are met without recourse to distressed borrowing.

Maintain a rolling cash flow forecast and escalate liquidity risk to the Country Head and Group Finance before it constrains operations.

Manage the Company's banking relationships in Uganda, negotiate facility terms, pricing, security and covenants, and secure the headroom required by the approved plan.

Manage foreign exchange exposure arising from imported equipment, USD-denominated contracts and shilling-denominated costs, within the policy approved by the Group.

Administer the banking mandate, payment channels and user access, and ensure segregation between preparation, review and release of payments.

Manage intercompany funding and settlement with Group entities on approved terms, and ensure cross-border movements are properly documented and compliant.

4.5 Bonds, Guarantees and Contract Financial Instruments

Secure and maintain the bid bond, advance payment guarantee, performance bond and retention guarantee capacity required to support the approved order intake plan in Uganda.

Review each instrument against the underlying contract terms before issue, and maintain a live register of all instruments outstanding, their expiry and their release position.

Drive timely release of expired and discharged instruments so that bonding capacity and margin cash are not tied up beyond the contractual requirement.

Review letters of credit, import financing and supplier credit terms before commitment, and ensure the cash profile they create is affordable.

Advise on the financial exposure created by contract payment terms, advance recovery, liquidated damages, retention and security provisions before a bid is submitted or a contract signed.

Working Capital, Receivables and Project Cash

Own the working capital cycle receivables, work in progress, inventory, payables and retention and drive it towards the level assumed in the approved plan.

Ensure valuations and invoices are raised accurately and within the contractual cycle, and hold the operating functions accountable for certification and collection.

Maintain receivables ageing discipline, recommend credit terms and exposure limits by client, and escalate overdue and disputed positions before they age beyond recovery.

Track retention and final account balances through to release, and ensure they are not lost through inattention.

Manage supplier payment terms and inventory levels to the Company's cash objectives, in conjunction with Procurement and Cost Control.

Project Financial Governance and Commercial Support

Ensure every project carries an approved budget at award, a maintained cost-to-complete forecast through execution, and a reconciled final account at closure.

Provide the financial counter-check on bid pricing escalation, currency, duties, logistics, financing cost, preliminaries and contingency before submission, and advise where the price does not carry the risk it assumes.

Review the margin and cash position of each project on a defined cycle with the Country Head and the operations lead, and require corrective action where forecast margin is eroding.

Support the identification, valuation and financial substantiation of variations and claims, and ensure recovered amounts are correctly reflected in the accounts and collected.

Ensure project financial data in the enterprise resource planning system is complete, timely and reconciled to the general ledger.

Verify the computation and provisioning of any project-linked incentive entitlement before it is committed or disbursed.

Taxation and Statutory Compliance

Ensure full compliance with all Uganda Revenue Authority obligations corporation tax, provisional tax, value added tax, withholding tax, PAYE, customs and import duty filed accurately and within statutory deadlines.

Ensure invoicing complies with the Electronic Fiscal Receipting and Invoicing Solution requirements, and that input tax is supported and recoverable.

Ensure NSSF, Local Service Tax and all payroll-related statutory deductions are computed, remitted and reconciled on time.

Maintain a defensible transfer pricing position and supporting documentation for transactions with MPSL Kenya and other Group entities.

Manage tax audits, assessments, objections and appeals, and advise Management on exposure, provisioning and the merits of contesting an assessment.

Ensure company filings with the Uganda Registration Services Bureau, work permit and immigration-linked financial obligations, and all other regulatory returns are current.

Pursue withholding tax exemption status, treaty relief and any exemption or incentive properly available to the Company's projects.

Risk, Internal Control and Insurance

Apply the Group's internal control framework in Uganda, including segregation of duties, approval hierarchies, banking mandates and the delegation of authority.

Ensure controls over cash, payments, procurement commitment, payroll, site materials and asset custody operate in practice and not only on paper, and that exceptions are investigated and closed.

Maintain the Company's insurance programme contractors all risk, plant and equipment, marine, liability and statutory covers and ensure project-specific covers are in place before works commence.

Maintain a financial risk register covering credit, liquidity, currency, counterparty, fiscal and contractual exposure, with mitigation owned and tracked.

Cooperate fully with internal audit and Group reviews, and remediate findings within the agreed period.

Systems, Process and Information

Administer the financial configuration of the enterprise resource planning system in Uganda chart of accounts, cost structure, approval workflows and reporting layer consistent with the Group standard.

Drive complete and timely transaction capture, so that reporting is drawn from the system of record rather than assembled outside it in spreadsheets.

Improve the speed and reliability of the close cycle and reduce dependence on manual reconciliation.

Ensure information reaching the Country Head and Group Finance is consistent, reconciled and produced to a fixed calendar.

Team Leadership and Stakeholder Relations

Lead, supervise and develop the accountants and accounts staff, with clear allocation of duties, review discipline and cover for absence.

Set objectives for direct reports, review performance on the defined cycle, and address performance shortfalls promptly.

Build technical capability within the team in contract accounting, Ugandan tax and the enterprise resource planning system, and identify successor cover for critical tasks.

Represent the Company with bankers, auditors, the Uganda Revenue Authority, insurers, advisers and clients' finance functions.

Model and enforce the Group's standards of conduct, ethics and financial governance, including where doing so is commercially inconvenient.

KEY INTERFACES

Internal: Country Head Uganda and Rwanda; Group Finance, MPSL; Chief Operating Officer and Group Management; Country Operations Lead MEP; project managers and site teams; Procurement & Cost Control; Tendering & Sales; Head of Contracts; Group Human Resources; ICT; the Uganda finance team

External: Commercial banks in Uganda; external auditors; Uganda Revenue Authority; Uganda Registration Services Bureau and company secretary; NSSF; insurers and brokers; tax and legal advisers; clients' finance and certification functions; suppliers, clearing agents and their credit functions; subcontractors

QUALIFICATIONS AND EXPERIENCE

Education: Bachelor's degree in Accounting, Finance, Commerce or Economics

Professional Qualification: CPA, ACCA, CA or equivalent; CPA(U) or eligibility for registration with the Institute of Certified Public Accountants of Uganda

Post-graduate: MBA or master's degree in Finance or Business

Experience Total: Minimum 12 years in finance, of which not less than 4 years as the senior finance position in a country operation or comparable standalone entity

Experience Sector: EPC, construction, engineering or project-based contracting, with direct exposure to contract accounting and percentage-of-completion revenue recognition

Experience Uganda: Working knowledge of Ugandan tax administration URA filings, EFRIS, VAT and withholding tax recovery, PAYE, NSSF and of the Ugandan banking environment

Experience Treasury: Bank facility negotiation, bonding and guarantee lines, letters of credit and multi-currency exposure

Experience Hands-on****Control: Personal capability to prepare and prove reconciliations, run a close and defend an audit file, in addition to supervising a team

Experience Group Reporting: Reporting into a group or parent company on a fixed calendar, including intercompany reconciliation and transfer pricing exposure

Technical: IFRS; IFRS 15 contract accounting; financial modelling; working capital and cash flow management

Systems: ERP-based financial control (Orion or equivalent); advanced Excel

Other: Eligibility to live and work in Uganda, or ability to obtain the necessary work permit

**Competency-**Behavioural Standard

Financial Integrity: Reports the position as it is; does not soften a result to suit a commercial narrative or defer a provision to protect a period

Range and Detail: Moves between the funding conversation and the reconciliation without losing quality in either; does not neglect the detail because the role is senior

Commercial Partnership: Engages before commitments are made, not after; is present in bid, contract and procurement decisions rather than reviewing their consequences

Liquidity Judgement: Sees the cash consequence of an order before it is taken; distinguishes a profitable contract from a fundable one

Control Discipline: Builds controls that operate in practice, and treats a recurring exception as a design failure rather than an individual one

Constructive Challenge: Holds a financial position under pressure from senior operating colleagues, and states the objection on record before escalating

Team Leadership: Develops the accountants rather than absorbing their work; delegates preparation while retaining review

Governance and Ethics: Applies Group policy and statutory obligation consistently, including where it is commercially inconvenient