SOLOMON OLAKUNLE
Welland,ON
Summary
Astute Professional with 13 years experience in finance and business processes within the Financial/Regulatory Industry and over 4 years in the Consulting and Manufacturing Sector; with competency in financial reporting and variance analysis, sound knowledge of the financial planning principles and practices, interpreting and analysing complex financial data using computer-based modelling techniques, sound knowledge of business regulations and accounting processes, expert in budget preparation, forecasting and implementation of cost control measures amongst others.
Overview
15
15
years of professional experience
1
1
Certification
Work History
TEAM LEAD, ANALYSIS & REPORTING
Nigeria Deposit Insurance Corporation
01.2018 - 11.2023
- Prepared monthly, quarterly and end of year financial statements analysis and reporting of the Corporation financial information to the internal and external stakeholders
- Developed and maintained a comprehensive cash flow forecast to provide insights into the organization's liquidity and funding needs
- Reviewed and reconciled accounting transactions to ensure their accuracy and completeness
- Reviewed monthly bank transactions, investment/insurance funds entries, accuracy of premium collection from insured financial institutions, amortization schedule, depreciation and capital asset register
- Engaged with clients and delivered outstanding service experience through completing transactions and identifying opportunities for advice, solutions, digital enablement and partner introductions
- Coordinated budget preparation, implementation, controlling and continuous monitoring of actual expenditures against budgetary provisions (opex and capex) and interpreting observed variances with detail commentary; provided guidance on required assumptions to assist in the preparation of budgets
- Responsible for non-routine financial accounting entries including determination of remittance to the consolidated revenue fund (CRF), insurance losses provision; tax returns filing, budget implementation and controlling of expenditures within approved budget limits
- Contribute to team results by listening and spotting opportunities to offer additional advice, managed risks by adhering to compliance routines, processes, and controls to protect client and shareholder interests while completing transactions
- Key Achievements: Regular commendation from internal and external stakeholders on detailed, in-depth and satisfactory reporting of financial information which led to year 2022 platinum award on good governance and financial accountability
- Participated and provided high-quality inputs during the implementation of infor dynamic enterprise performance management (depm) for budget preparation and automation of electronic revenue/expenditure (e-rex) applications and other innovative projects that improved efficiency of operations by 80%.
FINANCIAL ANALYST
Nigeria Deposit Insurance Corporation
09.2012 - 12.2017
- Acted as a liaison officer during interim and final audit exercises, attend to audit queries raised in the course of the exercise and also attend to other external stakeholders enquires
- Prepared quarterly and annual financial statements in accordance with IFRS reporting format
- Prepared the Corporation’s income tax return and other regulatory returns requested by the external stakeholders
- Coordinated preparation, analysis, implementation and monitoring of the operating (opex) and capital (capex) yearly budgets, ensured expenditures are controlled and maintained within approved budget limits
- Proactively used vision excel software to conduct in-depth and trend analysis on revenue and expenditure items across Departments, Units and Zonal Offices to identify areas of possible intervention that minimized extra budgetary request; this led to the reduction of virement request in the Corporation by 75%
- Ensured journal entries, account reconciliations, and analyses are completed in a timely fashion; provided support in data gathering and analysis for special projects and initiatives
- Key Achievements: Participated in the conversion and transition of Corporation financial reporting format from the Nigeria Generally
- Accepted Accounting Principles (NGAAP) to IFRS
- Part of team responsible for the closing of Vantage Microfinance Bank whose licence was revoked by Central Bank of Nigeria (CBN)
- Designed an easy-to-use variance analysis template for providing insight on the reasons for variance between actual and budgeted figures and consistently maintained budget performance within tolerance levels.
FINANCE OFFICER
LAGOS FINANCE UNIT, Nigeria Deposit Insurance Corporation
11.2010 - 08.2012
- Ensured timely reconciliation of various Corporation’s investment and imprest accounts
- Prepared schedules for premium collections from Deposit Money Banks (DMBs) and Micro-Finance Banks (MFBs)/Primary Mortgage Institutions (PMIs)
- Prepared monthly tax returns (WHT & VAT) with covering memo for payment authorization attached with a bank schedule
- Captured and posted appropriate journal entries for correction of wrong accounting entries
- Key Achievements: Cleared all outstanding unreconciled items that has accumulated for over 15years using a software Team lead – payment of depositors of closed two microfinance banks with over 80% payout rate 100% accuracy in capturing of premium collections with zero omission of any financial institutions over the years.
LEARNING AND DEVELOPMENT OFFICER
Dansa Foods Ltd
07.2008 - 11.2010
- Scheduled and conducted orientation and training for new employees Analysed training needs from HOD’s and external institutions with a view to ascertain their suitability for the organization and intending participants
- Provided financial and human resources analysis, support in the collection, sorting and analysis of data on manpower movement/turnover and casual labour supply Prepared departmental financial report for management appraisal/ evaluation Maintained records and reports to monitor performance targets and review efficiency of program delivery
- Monitored training costs to ensure budget is not exceeded, and prepared budget report to justify expenditures
- Key Achievements: Provided strategic reports on training and other Departmental initiatives for Senior Management decision making
Education
Accounting
Master of Business Administration -
Prifysgol Bangor University
Wales, United Kingdom12.2019
B. Sc. - Economics
University of Ado-Ekiti
Nigeria11.2004
Skills
- Proven skill in motivating and inspiring teams to high performance, prioritising workload between individuals and
- Encouraging accountability within a group, to enable swift and successful delivery of projects
- Strategic thinker with excellent analytical and investigative skills, critical and logical problem-solving capabilities with
- Ability to manage projects and deliver engagement within tight deadline and budget constraints
- Adept in assessing operational risk, interpreting and analysing complex financial data, presenting vital insights at
- Management and Board level and influencing key business decisions across the organisation
- Result oriented, trustworthy, self-motivated, analytical and creative mind
- Good interpersonal, planning/organisational skills, and excellent time management skills
- Client engagement and relationship management
- Skilled in utilising technology (power BI, PowerPoint and general office environment) to meet business needs
Languages
English
Full Professional
Certification
CFA Institute - Level 3 candidate
Institute of Chartered Accountants of Nigeria [ICAN] - Fellow
Timeline
TEAM LEAD, ANALYSIS & REPORTING
Nigeria Deposit Insurance Corporation
01.2018 - 11.2023
FINANCIAL ANALYST
Nigeria Deposit Insurance Corporation
09.2012 - 12.2017
FINANCE OFFICER
LAGOS FINANCE UNIT, Nigeria Deposit Insurance Corporation
11.2010 - 08.2012
LEARNING AND DEVELOPMENT OFFICER
Dansa Foods Ltd
07.2008 - 11.2010
Accounting
Master of Business Administration -
Prifysgol Bangor University
B. Sc. - Economics
University of Ado-Ekiti
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