HILLARY MULU

• Lube Oil Blending Plant (LOBP) was a Lubricants Manufacturing Plant.
• This was a, Senior Finance Position responsible for strategic planning, annual budgeting, production Planning and financial reporting.
• Key Result areas:.
• Collaborated with Sales Team to forecast demand, materials requirements and production planning to meet sales and profit targets.
• Implemented KPIs to improve efficiency and reduce operational losses.
• Increased profitability through daily reconciliation and control of production losses.
• Tracked financial performance by preparing monthly Income Statement & Balance Sheet.
• Analyzed financial statements against budgets and prepared high-level variance analysis to ‎the Executive Management.‎
• Implemented strong internal controls to monitor production, Filling, Warehousing & Distribution of lubricants.
• Collaborated with Finance to ensure full compliance with SOX requirements.
• Partnered with auditors on annual audits and realized compliance with governmental tax guidelines.

• Developed Internal Audit & Procedures Manual, Risk-Based-Audit Plan and Risk Control Matrix.
• Prepared audit reports and present audit findings and recommendations to the Management.
• Enforce compliance with statutory requirements, policies and procedures in line with IIA standards.
• Key Result Areas.
• Performed internal audits of financial and departmental operations, in line with annual audit plan, developing risk assessments and conducting process walk-through for compliance with documented processes and best practice.
• Eliminated fraud through detail fraud investigations, special audits and spot checks.
• Collaborated with External Audit firms to conduct statutory audits.
• Prepared audit programs and working papers, following International Standards on Auditing (ISAs).
• Major Achievements.
• Reduced Procurement Spend by 20% by introducing competitive bidding in procurement and stopping advance vendor payments.
• Streamline procurement by recommending implementation of a E-procurement software and implementing a procurement Procedure.
• Reduced customer discounts by 20% by implementing new controls, workflows and policies in the Fuel Card discount program.
• Reduced fraud significantly through targeted investigations.
• Reviewed monthly financial statements to prepare high-level variance analysis for reporting to the Group Internal Auditor and the Board Audit Committee.
• Improved existing financial reporting systems.
• Reviewed conformity of financial statements with International Financial Reporting Standards (IFRS) as well as corporate regulations.

• Implementation of Commercial Retail Strategy through Sales Maximization, monitoring daily stocks, monitor monthly Sales.
• Manage Dealer Working Capital.
• Dimensions: Annual Turnover Ksh 15 billion and 300 staff.
• Key Result Areas.
• Prepared Annual Sales budget for 13 stations covering white products, Lubes, LPG, Bonjour Shops.
• Broke down the budget into daily sales targets for each service station.
• Prepared a weekly work plan to visit each station to review sales, bankings, HSEQ & stock levels.
• Trained staff on effective sales strategies to exceed sales targets.
• Prepared financial control reports to measure station performance i.e cash flow statement, Income Statement & Financial Position.
• Stringent credit policy to improve dealer working capital.
• Developed a culture of compliance and quality through conducting quarterly Quality Management System Audits (QMS -ISO 9001: 2015).
• Achieved 18% annual sales growth through prospecting for new customers, coaching and training staff on instant sales, upselling and Top Service.
• Increased Non-Fuel Income by 20% by creating new revenue streams from carwash, shop and services.
• Carried out Market Intelligence: ie gathered data on competitor activities such as sales volumes, product launches and business models.

• Areas.
• Assisted the Chief Internal Auditor to prepare Risk Control Matrix (RCM) and the Annual Audit Plan laying emphasis on high-risk High-impact areas.
• Conducted periodic Financial Audits, Safety audits & Quality Management Systems Audits (ISO 9001:2008 & ISO 9001: 2015).
• Audited Service stations, Joint Venture Depots, Aviation Depots, and Fuel Depots & LOBP.
• Prepared summarized report of key audit findings for presentation to Management Audit Committee.
• Reported on all non-compliance incidents such as: corruption, fraud & bribery.

• Netco was a Subsidiary of TOTAL responsible for running between 30-35 stations which did not have Financial Dealers: The job profile involved auditing TOTAL Service stations to ensure robust Internal Control Systems and generally ensure profitable inventory management, control of cash & bankings and carry out ISO 9001:20008 Quality Management System Audits.
• Conducted Spot Checks to audit Sales, Cash and bankings.
• Conducted Quality Management System Audits at Service Stations (ISO 9001:2008).
• Conducted financial, safety and security Audits covering Retail Service Stations within TKL.
• Fraud Investigations at Retail Service Stations.

• Budgeting & Strategic Planning: Preparation of Annual Opex budget, cash flow projections,.
• Established borrowing requirements maintaining good relationships with banks to finance imports.
• Monthly Financial Reports: Profit and Loss, Sales analysis, debtors’ analysis, bank reconciliations,.
• Preparation of rolling weekly cash requirements forecast.
• Petroleum Imports: Coordinate importation of petroleum products, supervise clearing, storage, daily inventory reconciliations, prepare Letters of credits to pay foreign suppliers.
• Supply Planning: Plan for weekly product requirements, Loan/borrow (ASE), Local product purchases.
• Supervise exports of petroleum products to Uganda, Rwanda, Burundi & South Sudan.
• Credit Management: Collect payments from export customers in Uganda, Rwanda, Burundi & South Sudan,.
• Management of Accounts payables: Monitor and settle large expenses: Import Taxes, large Suppliers.
• Payroll Management: Payroll preparation & payroll reconciliation.
• Daily profitability Analysis: Monitor Margins for white products on a daily basis and increase selling price (if future price increase is forecasted) or reduce selling price (and quickly) offload product into the market if future price drop is forecasted.
• Internal controls: Enforce compliance, review and approve all payments.
• Coordination of Internal & External Audits.
• Direct Supervision of three Accountants.

• Worked in various positions in the Finance Department.
• CASHBOOK ACCOUNTANT.
• Completed daily reconciliations between sales and bankings.
• Completed monthly bank Reconciliation.

FOREX PAYMENTS ACCOUNTANT.

• Processed payments to local & international vendors.
• Cashflow Forecast and reporting on Main Expenditure and Revenue KPIs.

CREDIT CONTROL ANALYST

• Analyzed customer financial statements to determine level of risk, credit limits before opening new accounts.
• Coordinated Credit Control Meetings to improve cashflow by driving collections and reporting to Executive Management on progress of debt collection, overdues.
• DEPOT ACCOUNTANT Based at Nairobi Terminal:
• Prepared daily inventory reconciliations, daily sales reports and daily banking report.

• Provided administrative and audit assistance to the Internal Auditor in drafting audit findings and recommendations related to Money Market transactions, Loan & Advances, securities and guarantees, adequacy of internal control systems and compliance with banking Act and the Central Bank of Kenya Act.