Summary
Overview
Work History
Education
Skills
Timeline
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Elijah Ojo

Summary

Career Summary A qualified accounting and finance professional with experience in accounting operations, budgeting and forecasting, financial reporting, financial analysis, audit and compliance and management reporting. Adept at improving processes, systems, and controls as well as assembling and leading high performing finance teams, while combining performance management with strong leadership to deliver best-in class finance services to the business.

Overview

16
16
years of professional experience

Work History

Accountant

Maisanda and Co Ltd
07.2023 - Current
  • Financial Analysis to support business operations and decision support
  • In a pivotal role at Maisanda & Co, I played a central part in transforming the financial landscape of the organisation
  • Confronted with the imperative of enhancing profitability, I seized the initiative by spearheading an exhaustive financial analysis
  • My approach went beyond conventional methods as I harnessed the power of data analytics to delve deep into the intricacies of operational processes
  • Identifying and addressing operational inefficiencies became the cornerstone of my strategy, paving the way for a comprehensive and strategic organisational restructuring
  • The outcomes were transformative, with Maisanda & Co witnessing a remarkable upswing of 15% in profitability within a year
  • Knowledge and application of Accounting Principles
  • During my tenure at First Trust Mortgages Bank Limited, I confronted the challenge of intricate financial reporting scenarios that demanded a nuanced understanding of accounting principles
  • Tasked with the responsibility of ensuring strict adherence to both the Nigerian Generally Accepted Accounting
  • Principles (NGAAP) and the International Financial Reporting Standards (IFRS), I leveraged my profound knowledge of accounting principles to navigate through complex regulatory requirements
  • Through meticulous attention to detail and a commitment to precision, I successfully orchestrated the preparation of financial statements that not only met but exceeded industry standards for accuracy and compliance
  • Budgeting and forecasting to shape and influence business performance
  • As the leader of the budgeting and forecasting process at LSETF, I faced the critical challenge of providing accurate predictions for effective resource allocation
  • In response to this imperative, I took charge of the entire process, leveraging my analytical skills and strategic mindset to achieve a remarkable 98% accuracy rate
  • Through meticulous analysis and comprehensive scenario planning, I not only met but surpassed the expectations for precision in forecasting
  • The impact of this endeavor was profound – the organisation gained the ability to strategically allocate resources, enabling a proactive response to the ever-evolving dynamics of the market
  • Process improvement to ensure timely and accurate Financial Reporting
  • In response to First Trust Mortgage Bank's quest to enhance reporting procedures, I took the helm of a strategic initiative to streamline financial reporting
  • Implementing efficient reporting mechanisms, I successfully reduced reporting time by 20%
  • The result was not only an expedited and more accurate financial statements but also positioned the bank as a reliable and agile source of financial information, fostering transparency and bolstering stakeholder confidence
  • Maisanda & Co is a proactive London-based firm of Chartered Management Accountants with decades of combined team experience, providing a complete range of financial and management accounting services and professional advisory services to help business owners to achieve their goals
  • Responsibilities include:
  • Financial Analysis andAdvisory: Conducting comprehensive financial analyses to assess the financial health of clients, while providing strategic financial advice and recommendations to optimize clients' financial performance
  • Assisting in the development and implementation of financial strategies aligned with clients' business goals
  • Accounting System Implementation: Assessing clients' accounting systems and recommending improvements or migrations to enhance efficiency
  • Overseeing the implementation of new accounting software or ERP systems, ensuring seamless integration and minimal disruption
  • Regulatory Compliance: Staying abreast of changes in accounting standards, tax regulations, and financial compliance requirements, while ensuring clients' adherence to relevant financial regulations and proactively addressing any compliance issues
  • Financial Reporting: Preparing and reviewing financial statements, ensuring accuracy and compliance with relevant accounting frameworks and standards (FRS 102, IFRS9 and IFRS16)
  • Developing and implementing robust reporting mechanisms to provide clients with timely and insightful financial information
  • Process Optimization: Analyzing existing financial processes and identifying areas for improvement
  • Designing and implementing streamlined accounting processes to enhance efficiency and reduce operational costs
  • Audit Preparation & Support: Assisting clients in preparing for audits by ensuring accurate and organized financial records
  • Collaborating with external auditors and regulatory bodies during audit processes
  • Budgeting and Forecasting: Collaborating with clients to develop comprehensive budgets and forecasts
  • Providing guidance on financial planning and risk management to support informed decision- making
  • Training & Development: Conducting training sessions for client staff on accounting best practices, software usage, and financial management
  • Also providing ongoing support and guidance to ensure the effective implementation of financial processes.

Team Lead

Lagos State Employment Trust Fund, LSETF
06.2019 - 11.2022
  • LSETF is a public government funded agency and international donors (USADF, UNDP, GIZ) to tackle unemployment and promote entrepreneurship in the Sub-Sharan Africa
  • The initial capital of the Fund is $62.5million
  • Responsibilities include:
  • Team Management: Led, mentored, and managed a team of finance professionals, fostering a collaborative and high-performance culture
  • Set performance expectations, conduct regular performance reviews, and provide professional development opportunities
  • Financial Planning and Analysis: Oversaw the development and execution of annual budgeting and forecasting processes
  • Provided insights into financial performance, trends, and areas for improvement to support strategic decision-making
  • Donor Relations and Reporting: Managed the process of external reviews and accounting reports to international donors (UNDP, USADF, GIZ) ensuring compliance and transparent financial reporting
  • Prepared and delivered month-end and year-end financial statements, interpreting, and linking financial reports to business strategies
  • Treasury Management: Coordinate quarterly treasury reports, ensuring 100% cash utilization in line with forecasts
  • Implemented strategies for the proactive monitoring and reporting of budget positions across all departments and units
  • Financial Policies and Controls: Developed and reviewed finance policies, controls, systems, and procedures to ensure the smooth and efficient running of the department
  • Implement strict restricted funds compliance and reporting to funders, emphasizing effective business partnering across departments
  • Financial Asset Safeguarding: Designed and implemented mechanisms to safeguard the fund's financial assets, considering medium to long-term financial implications of corporate projects/initiatives
  • Identify financial risks and develop strategies to mitigate them, providing relevant advice to the fund's executive management
  • Budget Management and Business Partnering: Liaised with all relevant heads to develop the Fund's annual corporate budget and allocate financial resources effectively
  • Monitored budget performance, identify variances, and provide recommendations for corrective actions
  • Process Optimization: Identified opportunities for process improvement within the finance department
  • Implemented streamlined financial processes to enhance efficiency, reduce errors, and optimize resource allocation.

Senior Financial Control Officer

First Trust Mortgages Bank Limited
06.2014 - 06.2019
  • First Trust Mortgage Bank is a leading Primary Mortgage Bank (PMB) that is at the forefront of the
  • Sub-Saharan Africa mortgage banking sector, positioned to help customers to secure home ownership by offering innovative mortgage and real estate finance solution with capital base of $90million
  • Financial Analysis and Reporting: Conducted in-depth financial analysis to identify trends, variances, and potential areas for improvement
  • Prepared and reviewed financial reports, ensuring accuracy, compliance with accounting standards, and timely submission
  • Month-End Close Activities: Coordinated month-end close processes, including accruals, account payable, loan loss provisioning, fixed asset depreciation, and balance sheet reconciliations
  • Ensured all financial transactions are accurately recorded and reported within specified deadlines
  • Executive Management Support: Provided executive management with timely and accurate analysis of budgets, financial trends, and cashflow forecasts
  • Offered financial insights to support decision- making processes and enhance overall financial performance
  • Regulatory Compliance: Managed the bank's regulatory compliance by ensuring timely tax remittance, filing of returns, and adherence to external audit requirements
  • Liaise with external auditors and tax advisors, facilitating a smooth relationship and compliance with regulatory standards
  • Financial Controls and Risk Management: Oversaw the development and implementation of robust financial controls, policies, and procedures
  • Identified and mitigated financial risks, providing recommendations to enhance risk management practices
  • Financial Operation Analysis: Executed monthly reporting on financial operation analysis, cost analysis, and key performance indicators (KPIs)
  • Provided insights into financial performance, contributing to strategic decision-making
  • Process Improvement: Identified inefficiencies in existing financial processes and lead initiatives for process improvement
  • Implemented ‘streamlined processes to enhance efficiency, reduce errors, and optimize overall productivity
  • Credibility, GL Integrity, and Liaison: Ensured the credibility of financial control by providing accurate and timely analysis of budgets, financial trends, and cashflow forecasts
  • Liaised with relevant stakeholders across different departments to foster effective communication and collaboration.

Senior Audit Associate

Chartered Accountants

PKF Professional Services
03.2008 - 06.2014
  • PKF is a global network of accountancy firms
  • PKF at the forefront of compliance regulations and specialize in providing high quality audit, accounting, tax, and business advisory solutions both national and international organizations
  • As a Senior Audit Associate, I played a pivotal role in the execution of high-quality audit services, adhering to global compliance standards and delivering strategic insights to clients across various industries
  • Key Responsibilities:
  • Financial Statement Review: Reviewed IFRS financial statements, ensuring alignment with the applicable financial reporting framework
  • Conducted audits of the statement of financial position in accordance with IAS, US GAAP, IFRS, and SOX for companies in the manufacturing and service sectors
  • Audit Planning and Execution: Prepared Audit Planning Memorandum (APM) and actively participated in completing the Caseware Planning program before initiating audits
  • Applied PKF methodology to identify risk matters, design audit responses, and ensure comprehensive audit coverage
  • Analytical Review and Compliance: Conducted analytical reviews of financial statements, ensuring compliance with relevant financial reporting frameworks, particularly IFRS
  • Documented a clear understanding of clients' systems and procedures, performing tests of controls to identify weaknesses in internal control structures
  • Stock Count and Asset Verification: Observed and documented year-end stock count exercises, contributing to accurate valuation and verification of inventory
  • Verified physical assets, ensuring alignment with recorded financial information
  • Audit Strategy Development: Applied strategic thinking to support the development of audit strategies, considering clients' unique risk profiles and business environments
  • Designed comprehensive audit responses to address identified risk matters effectively
  • Working Papers and Documentation: Prepared detailed and acceptable working papers, recording and summarizing data on assigned audits
  • Maintained well-organized audit files, facilitating transparency and accessibility of information
  • Client Budgeting and Advisory: Collaborated with clients on budgeting processes, providing advisory services for financial planning and performance improvement
  • Offered strategic recommendations based on audit findings and industry best practices
  • Continuous Compliance and Methodology Enhancement: Ensured continuous compliance with internal and external audit methodologies and regulatory requirements
  • Contributed to the enhancement of audit methodologies, ensuring alignment with industry standards.

Education

M.sc - Accounting and Finance

University of Lincoln
July 2024

B. Tech (Hons.) - Accounting

Ladoke Akintola University of Technology

ACA - Associate Chartered Accountants, Institute -

Chartered Accountants of Nigeria

ACTI- Associate of The Institute -

Chartered Institute of Taxation of Nigeria

Skills

  • Management & Regulatory Reporting Effective communication skills
  • Preparation of stand-alone and group financial statements Performance Management
  • Audit Compliance - Facilitate year end audit Analytical Thinking/Mindset
  • GL Integrity, Journal Entries & Bank Reconciliation Business Process Optimization
  • IFRS/FRS 102 technical and complex accounting Collaboration and Teamwork
  • Period End Procedures (EOM, EOY) Key Stakeholder Management
  • Budgeting and Forecasting Adaptability and Ethical Judgement
  • Account Receivables and Payables Attention to Details

Timeline

Accountant

Maisanda and Co Ltd
07.2023 - Current

Team Lead

Lagos State Employment Trust Fund, LSETF
06.2019 - 11.2022

Senior Financial Control Officer

First Trust Mortgages Bank Limited
06.2014 - 06.2019

Chartered Accountants

PKF Professional Services
03.2008 - 06.2014

Senior Audit Associate

M.sc - Accounting and Finance

University of Lincoln

B. Tech (Hons.) - Accounting

Ladoke Akintola University of Technology

ACA - Associate Chartered Accountants, Institute -

Chartered Accountants of Nigeria

ACTI- Associate of The Institute -

Chartered Institute of Taxation of Nigeria

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Elijah Ojo