Walusungu Kawangu
Lusaka
Summary
Seasoned Financial Management professional with proven expertise in accounting processes, systems oversight and compliance reporting. Knowledgeable about AP/AR, forecasting, budgeting and all other aspects of successful financial operations. Talented team builder and supervisor with expertise to develop and maintain consistent, accurate, and legal accounting structures.
Overview
8
8
years of professional experience
Work History
Finance Manager
GameTech Zambia Limited
01.2024 - Current
- Executed the preparation of accurate financial statements, following guidelines from IFRS and GAAP.
- Enhanced financial planning through the development of budgets, forecasts, and analysis of variances
- Enhanced financial efficiency through precise forecasting of cash needs and efficient process management
- Implemented effective practices for timely deposit of daily sales to optimize treasury management
- Managed risk by implementing and maintaining adequate controls for cash handling.
- Implemented policies to address cashier shortages, reducing risk and increasing accountability
- Conducted audits for compliance and efficiency
- Ensured tax law compliance and optimized efficiency
- Analyze financial data to identify opportunities and evaluate options.
- Provided guidance and mentorship to finance team, fostering strong team leadership
- Ensured adherence to regulations and standards for regulatory compliance
- Enhanced stakeholder communication regarding financial performance
- Streamlined contract costing and pricing processes.
Greater Africa Accountant
Smollan
Lusaka
01.2021 - 12.2023
- Successfully completed and submitted yearly financial reports for a portfolio of eight entities.
- Executed budget planning and forecasting responsibilities for three out of eight entities.
- Maintained accurate and timely month-end closing journals
- Consistently achieved timely completion of audits from planning to board approval
- Created and managed sales invoices and statements for multiple entities.
- Implemented effective cash management techniques
- Achieved a significant decrease in collection time, reducing it from an average of 90 days to just 45 days
- Consistently followed up on outstanding invoices to ensure prompt payment.
- Streamlined the process of capturing and reconciling withholding tax certificates to ensure precise financial records.
- Managed the monitoring and reporting of cost variances.
- Streamlined contract costing and pricing procedures.
Finance Manager
Arm-Safety
01.2020 - 12.2020
- Maintained financial compliance in accordance with organizational policies and local regulatory frameworks
- Ensured accurate budget tracking with minimal variances.
- Ensured accurate and timely preparation of monthly management accounts for 3 companies in the group
- Imparted thorough review and supervision to ensure accurate monthly payroll for 4,000+ security guards throughout the nation.
- Optimized pricing structures for maximum profitability
- Managed the generation of tax invoices and customer statements for more than 200 clients
- Maintained regular communication with debtors and creditors to manage finances effectively.
- Prepared year-end financial statements, schedules, and notes while implementing internal and external recommendations
- Identified and resolved invoicing issues, accounting discrepancies, and other financial related problems.
Financial Accountant
Arm-Safety
07.2019 - 12.2019
- Diligently performed data analysis in order to enhance the accuracy of weekly and monthly estimates
- Successfully transitioned manual accounting system to an automated platform, resulting in a notable decrease in invoice processing time from 7 to 3 days.
- Automated invoice processing for standard invoices in the system
- Ensured profit by preparing customer budgets for contract pricing.
- Performed comprehensive evaluations to determine the risks associated with potential clients
- Created and implemented credit guidelines for the organization
- Performed general ledger account reconciliations
- Contributed to the development of annual budgets, forecasts, and projections
- Performed account reconciliations for various accounts including receivables, payables, payroll and expenditures.
Senior Auditor
Grant Thornton Zambia
07.2016 - 06.2019
- Planned and reviewed auditing activities.
- Performed risk and control assessments
- Completed audits punctually and provided thorough reports.
- Communicated audit results, suggesting strategies for improved compliance and efficiency
- Reviewed team members' work for accuracy and compliance
- Managed periodic audits, such as forensic audits and due diligence
- Prepared financial statements and required disclosures in compliance with policies and regulations.
- Effectively identified and tackled issues related to assurance engagements.
- Engaged in close collaboration with colleagues and partners to improve practice development efforts and effectively manage clients.
- Maintained close observation of clients' financial activities, placing emphasis on ratios and margins
- Led audits for a variety of high-profile clients, such as Bank of Zambia, Development Bank of Zambia, and ZSIC Life Plc.
Education
Finalist, pursuing CA Advisory Level -
Zambia Institute of Chartered Accountants
12.2024
Managerial Level -
Chartered Institute of Chartered Management Accountant (CIMA)
01.2016
General High School Certificate -
KCM Konkola Trust Secondary School
01.2010
Skills
- Financial reporting and accounting
- Risk Mitigation Strategies
- Budgeting and Forecasting
- General Ledger Reconciliations
- Audit Planning & Management
- Leadership
- Decision making
- Performance Analysis
- Financial Management
- Strategic Planning
- Regulatory Compliance
- Financial Modeling
- Continuous Improvement
- Cost accounting
- Verbal and written communication
- Coaching and training
- Cash Flow Management
- Debt management
- Internal Controls
- KPI Management
- Sustainable business models
- Credit analysis
- KPI Development
- Financial Budgeting
- Skilled in Sage, Pastel, SAP, Quickbooks accounting software
- Variance Analysis
Affiliations
- Member of Zambia Institute of Chartered Accountant (ZICA)
- Licentiate Member of Chartered Institute of Chartered Management Accountant (CIMA)
Accomplishments
- Managed to collect over K20 million, of long outstanding balances from clients whilst at Arm-Safety Security Ltd these included government parastatals only.
- Set-up accounting system and internal controls for Arm-Safety Security Ltd
- Created efficient billing and invoicing process that cut process time to 3-days from 7-days on a monthly basis.
- Created and enhanced internal controls for the procurement process at Smollan for Zambia, Namibia, Botswana, Malawi and Mozambique entities.
References
- Joseph Chisanga, Audit Supervisor KPMG (former Asst. Audit Manager Grant Thornton), +260976134124
- Buumba Matongo, Former Human Resource Manager Arm-Safety Security Limited (currently with Zambeef Products Plc), +260978984458, buumbamatongo@gmail.com
- Frank Ngalande, Former Greater Africa Operations Manager Smollan (currently with PUMA Energies), +260978649531, frankcngalande@gmail.com
Languages
English
First Language
Timeline
Finance Manager
GameTech Zambia Limited
01.2024 - Current
Greater Africa Accountant
Smollan
01.2021 - 12.2023
Finance Manager
Arm-Safety
01.2020 - 12.2020
Financial Accountant
Arm-Safety
07.2019 - 12.2019
Senior Auditor
Grant Thornton Zambia
07.2016 - 06.2019
Finalist, pursuing CA Advisory Level -
Zambia Institute of Chartered Accountants
Managerial Level -
Chartered Institute of Chartered Management Accountant (CIMA)
General High School Certificate -
KCM Konkola Trust Secondary School
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