OMONDI KUNGU
Accountant
Kisumu
Summary
Experienced and driven Head of Finance with over 10 years of expertise in identifying and analyzing trends, collaborating with departmental leaders, and driving business growth. Proven track record in tracking actual business results against plans, including successful acquisitions. Exceptional problem-solving abilities and a talent for training and developing staff members. Results-oriented professional dedicated to achieving organizational goals and resolving complex issues efficiently.
Overview
13
13
years of professional experience
Work History
Head of Finance
COTEC SECURITY GROUP LIMITED
2 2018 - Current
- Reviewing companies' financial accounts information and offering advice and support concerning risk prevention and business development.
- Strengthened communication between the finance department and other business units, fostering an environment of collaboration across the organization.
- Collaborated with cross-functional teams to align financial goals with overall company objectives.
- Oversaw annual audit process, ensuring accurate representation of financial position in accordance with IFRS.
- Reduced overhead costs by identifying inefficiencies and implementing cost-saving measures.
- Developed finance team talent through targeted training programs and regular performance evaluations.
- Ensured compliance with all regulatory requirements by staying abreast of industry changes and updating policies accordingly.
- Negotiated contracts with suppliers for more favorable terms, resulting in significant cost savings.
- Streamlined vendor payment processes, improving relationships while reducing processing time and errors.
- Enhanced financial reporting accuracy through the development of comprehensive internal controls.
- Managed debt financing activities, negotiating favorable terms to minimize borrowing costs.
- Drove revenue growth by identifying key performance indicators and optimizing pricing strategies.
- Led implementation of new ERP system, increasing efficiency within the finance department while enhancing data visibility.
- Optimized cash flow management through efficient working capital strategies and investment decisions.
- Improved financial operations by streamlining processes and implementing new accounting systems.
- Preparing statements showing income and transactions
- Completing and submitting VAT returns
- Preparing staff wages and managing claims for expenses
- Checking that company accounts are accurate and up-to-date
- Performing credit control duties, as and when required
- Devising and implementing cost saving measures
- Liaising with the bank on behalf of the organisation
- Preparation of monthly payroll and administrating staff holidays and absences
- Producing year-end reports such as trial balance for auditing
- Responsible for financial accounts including budgets and cash flow
- Helping to prepare annual accounts using computerized accounting systems
- Performing corporation tax submission
- Assisting junior member of staff with complex accounting and auditing cases
- Completing and submitting tax returns for directors and other employees
- Developing and maintaining databases for filing purposes
- Maintaining up-to-date records and ensuring everything is kept confidential.
- Provided senior management with strategic financial insights for informed decision-making.
- Implemented a robust budget variance analysis process to identify discrepancies early on and improve future planning initiatives.
- Implemented risk management practices to mitigate potential losses and safeguard company assets.
- Managed budgeting process, ensuring accurate forecasting and timely adjustments to meet business needs.
- Evaluated investment opportunities for long-term growth potential, supporting business expansion efforts.
- Reduced process discrepancies through measured implementation of performance reporting and data systems.
- Prepared monthly reconciliation of bank accounts and took corrective actions on deviations.
- Analyzed financial statements against forecasts to prepare high-level variance analysis.
- Enhanced internal control systems and procedures to mitigate risk and support opportunities.
- Assisted with recruiting, interviewing, and hiring new department employees.
- Verified compliance of financial policies and accounting procedures against federal regulations.
- Introduced software tools and process improvements to mitigate loss and drive operational growth.
- Analyzed business processes to identify cost savings and operational efficiencies.
- Established internal audit procedures to validate and improve accuracy of financial reporting.
- Prepared cash flow projections, cost analysis and monthly, quarterly and annual reports.
- Prepared internal and regulatory financial reports, balance sheets and income statements.
- Developed strategic plans for day-to-day financial operations.
- Reviewed historical records, current operational data, and forecasting information to identify and capitalize on system enhancement opportunities.
- Evaluated and negotiated contracts to procure favorable financial terms.
- Improved overall financial reporting by streamlining control processes and reporting structures.
- Provided senior management with strategic financial insights for informed decision-making.
AUDIT SENIOR
PKF PLC
02.2012 - 01.2018
- Supporting auditing teams in carrying out research for a variety of external stakeholders and clients
- Working as part of the risk assurance team and offering advice on reducing and managing risks within a corporate environment
- Working with public sector companies and offering advice and support on finances and areas of future development
- Reviewing operations and helping to increase success and reduce any risks
- Verifying financial calculations and ensuring everything is factual and correct
- Assisting junior member of staff with complex accounting and auditing cases
- Developed strong relationships with clients, addressing concerns promptly and providing timely updates on progress throughout the engagement process.
- Assisted in the preparation of audit reports, presenting findings clearly and concisely to senior management for review.
- Increased overall reliability of financial statements by performing detailed reviews of account reconciliations and supporting documentation.
- Conducted walkthroughs of various business processes, gaining an in-depth understanding of operations while identifying potential control weaknesses.
- Provided guidance to junior auditors on best practices, fostering a collaborative working environment and enhancing team performance.
- Evaluated critical business systems and processes, identifying areas of potential risk exposure, and offering recommendations to mitigate those risks.
- Managed multiple engagements simultaneously, prioritizing tasks effectively to meet client deadlines consistently.
- Stayed current on industry trends and accounting standards changes, ensuring that all audit activities adhered to applicable guidelines at all times.
- Mentored new hires within the department, offering guidance on day-to-day responsibilities as well as long-term career development opportunities within the field of auditing.
- Collaborated with cross-functional teams to develop comprehensive audit plans, ensuring accurate financial reporting.
- Led training sessions on various topics related to internal auditing, enhancing the skills and knowledge of fellow team members.
- Assisted in developing and implementing new audit methodologies, raising the department's standards for quality.
- Enhanced audit efficiency by streamlining processes and implementing risk-based audit approaches.
- Leveraged knowledge gained from attending professional conferences to identify emerging risks impacting businesses' operations.
- Improved company compliance with laws and regulations through regular monitoring of accounting procedures.
- Strengthened internal controls by evaluating the effectiveness of existing policies and recommending improvements, where necessary.
- Mitigated risks associated with fraud by designing and executing specialized audit tests targeting high-risk areas.
- Prepared working papers, reports, and supporting documentation for audit findings.
- Completed audit papers by thoroughly documenting audit tests and findings.
- Identified control gaps in processes, procedures, and systems through in-depth research and assessment and suggested methods for improvement.
- Identified management control weaknesses and provided value added suggestions for remediation.
- Developed and implemented corrective actions to bring business areas in line with standards.
- Trained new employees on accounting principles and company procedures.
- Collaborated with the accounting manager to comply with governing bodies and limit regulatory risks.
- Tracked funds, prepared deposits and reconciled accounts.
- Provided journal entries and performed accounting on an accrual basis.
- Kept up-to-date with tax changes and industry trends by participating in professional organizations, opportunities, and networks.
- Collected and reported monthly expense variances and explanations.
- Found tax solutions to complicated tax issues or errors from incorrect tax filings.
- Identified legal tax savings and recommended ways to improve profits.
- Developed financial models to assess and analyze financial performance of clients.
- Initiated comprehensive account assessments to check viability, stability, and profitability of business operations.
Education
Bachelor of Commerce (accounting & Finance) -
The University of Nairobi-School of Business and Management Science
CPAK (CPA K) - undefined
Kenya college of Accountancy University
KCSE (B- (Minus) - undefined
Uriri Boys Secondary School
Skills
Advanced book keeping skills
References
- ANITA BUSAKA KARUHI, Human Resource Practitioner, 0716052970, anitakaruhi@gmail.com
- CHARLES OWENGA, Senior Partner –Owenga & Associates Public Accountants Kenya, 0721867021, Charlesowenga@yahoo.com
- LOICE MWAGO, Finance & Accounting, MASENO RBS, 0714023687, lmwago@gmail.com
Training
- Family/Life/Work balance during crisis-KCB bank Limited, 2020
- Computerized accounting, (Sage, QuickBooks, word, excel and database.), 2011
Timeline
AUDIT SENIOR
PKF PLC
02.2012 - 01.2018
Head of Finance
COTEC SECURITY GROUP LIMITED
2 2018 - Current
Bachelor of Commerce (accounting & Finance) -
The University of Nairobi-School of Business and Management Science
CPAK (CPA K) - undefined
Kenya college of Accountancy University
KCSE (B- (Minus) - undefined
Uriri Boys Secondary School
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