Prince Baffour-Ofori

Transcription

1 Prince Baffour-Ofori BRIEF PROFILE Young and experienced Certified Chartered Accountant with broad knowledge and skills in finance, accounting, internal auditing, auditing, establishment of sound financial and operational controls, drafting of policy documents such as Audit and Accounting manuals, Risk Management, preparation and control of budgets, and staff development. Has had advanced knowledge in preparing Financial Statements in accordance with International Financial Reporting Standards (IFRS) as well as conducting auditing with International Standards on Auditing (ISA), have 7 years managerial experience in tertiary institution (including 2 years as Director of Finance and 4 years as a Senior Internal Auditor). WORKING EXPERIENCE Deputy Director of Internal Audit 2016 Present General oversight of the University s Internal Audit Directorate in ensuring that risks are prevented or managed reasonably. Internal Controls: reviewing of the University wide environment (academic and administration) to ensure and assure the University s Council and Management that adequate and appropriate controls exist and are efficient. Risk Management: reviewing of departmental (academic and administrative) objectives to ensure that events and activities that may impair their performances are reasonably mitigated. Advisory and Consultancy: providing financial and general advisory services to staff, management and the University Council. Auditing and Review: conducting financial, project, procurement, academic quality excellent audits regularly, depending on the assigned risk. Acting Director of Finance Controlled and managed the finances of the University which include the following:

2 Financing Decisions: advised Management and Council on prudent financial decisions including the appropriateness of sources of funds, where to invest and bootstrapping strategies. Financial Management and Control: effective and efficient managed the finances of the University through Budget Preparation, Execution, Monitoring and Feedback to Management, Faculties and Departments. Investment Appraisals: evaluated Investment Proposals and made recommendations of viable products to Management for approval. Risk Management: directed with continual risk awareness, evaluating risks, recommendation of the appropriateness of managing risk such as Transfer, Accept, Manage or Reject. Financial Accounting and Reporting: supervised and kept Proper Books of Accounts, Bank Reconciliation Statements, and the compilation of financial statements for external audit and other purposes using International Financial Reporting Standards. Tax Administration: effectively applied the Income Tax Act (Act 896) to each individual transaction. Through prudent financial management decisions, I assisted the University to pay it s over a million Ghana Cedis outstanding debts within a year and declared a surplus of 10% of the budget within the same year. Helped to secure financial assistance through loan of GH 3,000, to support the 2014/2015 budget. Assisted the University to secure a value for money Finance Lease Agreement to procure 2 Toyota Coaster buses. Effectively restructured the Finance Department to ensure segregation of duties. This had an intrinsic benefit of ensuring high productivity and efficiency in the day-to-day operations of the Finance Department. Properly launched the automation of the Accounting System of the University. Hitherto students data including fees payments were kept separately from financial data. Through sound financial management skills, I assisted in improving the University s working capital by 30% within a year. Effectively introduced and operated a Cashless System within the University. The finance office, faculties, units and sections do not receive cash or make cash payments. Presbyterian University College (PUC), Abetifi-Ghana Senior Internal Auditor Established and maintained an independent Internal Audit Department of the University as well as sound Internal Controls that prevented fraud, and irregularities while safeguarded the resources of the University. Performed oversight responsibilities other colleagues in the department. Performed risk analysis and evaluation of departments and sections. Performed internal control reviews.

3 Reviewed the faculties to ensure that admissions, lectures, examinations were done in accordance with NAB regulations. Conducted a quarterly financial audit and/or reviews to Management and the University Council. Successfully completed a Forensic Audit at no financial costs that saved the University sums of money that would have amounted to about 5% of the year s budget. Advised for the use of Tally ERP Accounting Software instead of the Manual Bookkeeping. Ensured the effective and sound Internal Control Systems in and around financial and operational activities. Advised management on effective taxation administration and planning which reduced payroll costs by 15% approximately annually. Internal Auditor Established the Internal Audit Department within the University as required by the National Accreditation Board. Wrote the Internal Audit Charter which spelt out the independency, professionalism and objectivity of the Internal Audit Department. Developed two (2) important Policy Documents (Operational Manuals for Finance and Accounting Department and Internal Control and Risk Management Guidelines). Detected some students fraudulent activities that might have caused the University to incur huge loss. An amount of about GH 10, was saved from successfully syndicated fraudulent activity. Afram Rural Bank Limited, Tease-Ghana Board Member, Finance, Audit and ICT Committee Chairman As a Non-Executive Director responsible for the entire direction of the Bank s finances, audit and ICT including: Ensured that monthly prudential reports to the Bank of Ghana and ARB Apex Bank are adhered to; Sourced for funds both internally and externally;

4 Provided strategic direction for the Finance, Audit and ICT department for efficiency of work; Provided the Board with current and best practice advice which aided its decision making; Advised on innovative ways of using ICT to earn extra income for the Bank as well as providing security; Provided training for Audit and Finance staff for effective and efficient delivery of work. The Bank was at the verge of collapse in the year 2013 and Bank of Ghana advised for my cooption unto the Board to help restructure the entire company. Successfully restructured operations, finances, management and other departments and activities that has made the Bank survive and profitable. Secured over GH 1,000, facility to boost liquidity as well as profitability of the Bank. Advised and instituted strategies that helped the Bank to recover about 20% of its long outstanding loans within a year. Advised for action for the impounding of over 20 tractors which were being used by clients but failed to make payments to the bank. The resale of these repossessed tractors boosted the liquidity of the Bank and improved the financial indicators. Conducted series of training for all levels of staff, senior management, line managers, operational managers and staff that have contributed to the staff positive attitude. Presbyterian University College Credit Union President/Chairman 2014 present As the President and Fund Manager, the following success has been achieved within 2 years: Improved liquidity by 80%. Members have developed confidence in the Union as a result of effective and efficient administration of members funds. Increased profitability by 100%. Total loans given (which used to be the only asset of the Union) were far less than the Union s liabilities (members savings). Within 2 years members savings have grown in terms of profitability and changed the situation. Membership has increased by 60%. Koforidua Polytechnic, Koforidua-Ghana Lecturer (PartTime) Developed Course Outlines in Accounting and Costing. Prepared lecture notes for Financial Accounting and Cost Accounting courses. Lectured and examined Financial Accounting.

5 Supervised examinations. Ghana Broadcasting Corporation (GBC), Accra-Ghana Senior Internal Auditor Appointed to assist the Chief Internal Auditor (Director of Audit) to Plan, Programme, Implement and Monitor the internal auditing activities throughout its 10 Regional Offices. Assistance given included: Wrote Audit Programmes that were used by 15 Internal Auditors for head office and regional audits. Assisted in the preparation of Internal Audit Strategic and Annual Plans. These plans were defended internally to management at externally to the Institute of Internal Audit. Supervised and reviewed internal auditing of Revenue, Receivables, Payables, Cash, Transport and Fuel, Procurement & Stores, and airtime usage. Prepared Audit Reports. Trained Internal Audit and Finance Staff on best practices in the profession. Documented the Internal Control Procedures of the entire Corporation. Prepared comprehensive Audit Programmes Booklet for the Audit Department. Ensured continuous Training and Development of 15 Internal Audit Associates and Supervisors. Safeguarded the resources of the Corporation including cash through effective internal control procedures established. National Health Insurance Authority (NHA), Fanteakwa-Ghana District Accountant Recruited by the National Health Insurance Authority to set up and develop the Finance Department of the then newly established Health Insurance Scheme in the Fanteakwa District. As the Financial Controller of the Scheme in the District to recruit and train finance executives to mobilize funds and pay for claims on behalf of the Authority. Responsible for the effective management of Internally Generated Funds, DANIDA Funds, and Government of Ghana subsidies and grants of Billions of Cedis, budgeting, preparation of monthly Bank Reconciliation Statements and compilation of Financial Statements for the Board of Directors, External Auditor and the users.

6 Successfully established the Finance and Accounting Department of the Scheme. Adjourned the best District Accountant in Eastern Region and assigned to help districts that were in distress in managing their funds and unable to compile their financial statements for external audit. Effectively managed donor s (DANIDA and other NGOs) funds to achieve high standard for Fanteakwa District. Secured funds for the training of Revenue Collectors and a Motor Bicycle for the Scheme s operations. Recruited and trained 85 Revenue Collectors in about 30 communities within six months who collected subscriptions. Managed Internally Generated Funds and Government Subsidies efficiently and effectively for claims management without any cancellation or threat of cancellation by service providers (hospitals). Instituted admirable Payroll System for all the staff including Revenue Collectors, that attracted other Accountants from sister schemes for emulation. OTHER LEADERSHIP ROLES AND POSITIONS Member of Total Quality Management Committee Ensured quality in all aspects of the University s operations including preparation of course outline, review of programmes, quality of delivery, conduct of examinations and safeguarding of the University resources. Ensure the University s Council is provided with up to date information on the quality of operations. Member of Budget and Finance Committee Contributed in the preparation of the University s Annual Budget. Assisted in the education of members of staff for effective utilization of Departmental and sectional votes. International Central Gospel Church Pastor in charge of Abetifi Church 2011 present

7 In charge of spiritual feeding of the church (members and associates). Management of the funds of the church Supervise the administration including human resource management of the entire church. Supervise the preparation of monthly and annual financial statements for both internal and external audit. EDUCATION/QUALIFICATION MBA (Finance): Central University, Ghana Elective courses include: Treasury Management, Money and Banking, Financial Institutions and Markets, International Trade and Finance, Advanced Corporate Finance, Strategic Management, Investments & Risk Management. ICA (Ghana): ACCA (UK) Member: Institute of Chartered Accountants, Ghana 2011 Member: Association of Chartered Certified Accountants (ACCA) UK Bachelor of Accounting: (GIMPA) (First Class Honours) HND in Accountancy: Koforidua Polytechnic (First Class Division) PERSONAL INFORMATION Date of Birth: 18th August, 1978 Nationality: Marital Status: Written & Spoken Languages: Ghanaian Married English, Twi Core Competencies & Skills: Sound Judgment, Due Professional Care and Bahaviour, Initiative, Resourceful and Diligent. Working knowledge in Tally ERP, Microsoft Word, PowerPoint and Excel.