Senior Finance Officer – Stocks

National Oil Company of Malawi (NOCMA)

National Oil Company of Malawi (NOCMA)’s mandate is to deliver a stable, secure and affordable fuel supply in Malawi. Its main activities include:

  • Management and replenishment of the Country’s 60 million litres Strategic Fuel Reserves (SFRs). These SFRs are situated in Blantyre, Lilongwe and Mzuzu, and smaller depots in Chilumba, Chipoka and Mchinji.
  • Procuring and handling fuel importation fuel and related logistics.
  • Provision of hospitality to facilitate distribution of petroleum products in the country.

NOCMA is wholly owned by Malawi Government. It is established under the Company’s Act of 1984. NOCMA was incorporated on the 10th of December 2010 and commenced its operations in 2012.

Over the past thirteen (13) years, the Company has grown tremendously in its national strategic importance with its fuel importation market share growing from ten percent (10%) in 2015 to an average of sixty-five percent (65%) in 2023/2024 and this has been matched with growth in institutional capacity and investments to enable efficiency and effectiveness in executing its mandate.

In its drive to ensure improved and sustained efficiency and effectiveness in delivery of its mandate, NOCMA is seeking to recruit qualified and experienced candidates to fill the following highly rewarding positions that have arisen within the Company.

An attractive remuneration package is on offer to the right candidates with prospects for career growth within the oil industry.

Applications are therefore invited for the following position:

SENIOR FINANCE OFFICER – STOCKS (NOC05 – CODE: SFOS102024 – Tenable at Head Office in Lilongwe

PURPOSE

This Senior Finance Officer – Stocks role focuses on managing fuel supply and inventory, ensuring the smooth operation of stock controls, and supporting decision-making through detailed reporting and reconciliations.

KEY ROLES AND RESPONSIBILITIES

  1. Fuel Supply Forecasting: Collaborating with the Operations department to prevent overstock and out-of-stock situations by forecasting fuel supply and demand.
  2. Inventory Management: Maintaining updated stock details including vendor information, invoices, and pricing.
  3. Coordination of Supply Financing: Working with various departments to align fuel supply financing with operational requirements.
  4. Financial Documentation Support: Ensuring timely information for letters of credit processing and liaising with suppliers, financiers, and the company’s supply section.
  5. Product Storage and Security: Overseeing storage logistics and coordinating Operations to ensure security and continuity of supply.
  6. Stock-Taking and Reporting: Conducting regular stock reconciliations, stock checks, and discrepancy investigations; producing weekly and monthly inventory reports and sales margin reports.
  7. Business Decision Support: Using systems like SAP and Business Intelligence for analytical support.
  8. Record Reconciliation: Performing reconciliations between internal and system records.
  9. Leadership: Supervising and appraising junior staff

REPORTING LINE AND RESPONSIBILITY

The position reports to the Finance Manager – Management Accounting and has responsibility for the Finance Officer – Management Accounting.

THE PERSON

The required candidate should have the following competences, skills, and attributes:

  1. Planning and organizing – skills and abilities in work planning and execution
  2. Performance management – ability to work as a team member.
  3. Communication and reporting – ability to collate data and provide information for management reports and information.
  4. Analytical and Problem-Solving Skills – Strong analytical skills to identify, assess, and resolve financial discrepancies and risks associated with trade finance operations.
  5. Familiarity with financial regulations and compliance requirements within the oil and gas industry is an advantage.

QUALIFICATIONS AND EXPERIENCE

  1. Bachelor’s degree in accounting from an accredited institution.
  2. Full membership of a relevant professional body (e.g., ICAM, ACCA, CIMA, CPA).
  3. A minimum of six (6) years’ cumulative work experience in financial management, four (4) of which should be in stock control, particularly in supply and distribution.

APPLICATION PROCEDURE

Interested candidates who meet the required qualifications and experience should send applications with cover letter, copies of certificates, detailed curriculum vitae (CV), names, addresses and phone contact numbers of three traceable referees to the following address:

The Chief Executive Officer
National Oil Company of Malawi
4th Floor, Kang’ombe House, City Centre
Private Bag 370
Lilongwe
Attention: The Human Resources & Administration Manager
Email: nocmajobs@nocma.mw

Applicants should state clearly on the envelope or in the subject line of an email, the Code for the Post they are applying for.

The closing date for receipt of applications is 1st November 2024

Female candidates are strongly encouraged to apply as NOCMA is committed to achieving relevant gender ratios stipulated in the Gender Equality Act, 2013.