Summary
Overview
Work History
Education
Skills
Hobbies and Interests
Professionalaffiliates
Affiliations
Timeline
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OMOFOLAKE FAWIBE

OMOFOLAKE FAWIBE

Summary

I am an experienced senior finance and business services expert with the ability to manage all financial and business service streams. I have developed a wide range of talents in managing and transforming big teams, leading transformation initiatives, developing relationships, engaging in cross-functional and multicultural engagements, leading teams, and working with a variety of stakeholders to produce outstanding outcomes. I have over 15 years of combined experience working with fast-moving consumer groups and financial services. I have extensive experience in financial services and have worked in FMCG sector at the global, regional, and local levels. I have managed, analyzed, and structured credits for corporate and retail clients in different variety of industries, including manufacturing, fast moving consumer goods, diary, financial services, trading and oil and gas. Methodical director with several years of comprehensive experience overseeing daily operations of company or organization. Hardworking and versatile professional well-versed in executing business strategies, preparing and implementing business plans and overseeing financial performance. Thorough knowledge of market changes and trends paired with strong grasp of corporate finance and performance measures.

Overview

18
18
years of professional experience

Work History

Director: Finance and Business Services Sub Saharan Africa

DANONE Food Company
07.2023 - Current
  • Responsible for service delivery across sub-sahara Africa in six major shared/business services streams: Procure to Pay (Account Payables), Invoice to cash (Account Receivables), Record to Report (Financial Controlling, Tax, Treasury and Insurance), Employee Service (Pay-roll Management), Master Data Management
  • Countries in scope: South Africa, Nigeria, Ghana, Ivory Coast, Togo & Benin
  • Strategic Leadership: Develop and implement the strategic vision and operational plans for business services across Sub-Saharan Africa, ensuring alignment with overall organizational objectives and market demands
  • Operational Excellence: Oversee the delivery of business services (including finance, invoice to cash, procure to pay, master data, internal control, treasury, Employee services and financial reporting and control) ensuring operational efficiency and adherence to best practices across multiple countries
  • Team Leadership: Lead, mentor, and develop a high-performing team of professionals across various functions, promoting a culture of collaboration, accountability, and continuous improvement
  • Cross-Functional Collaboration: Collaborate with regional and global teams to ensure seamless integration of business services, sharing best practices and aligning strategies to enhance service delivery
  • Financial Management: Manage month end and year end closing
  • Ensuring the timeliness and accuracy of financial reporting
  • Manage, communicate and animate Key Performance Indicators (KPIs) for business services in the region, ensuring optimal resource allocation and cost control while achieving financial targets
  • Risk Management: Identify and mitigate risks related to business operations, maintaining compliance with local regulations and corporate policies to safeguard organizational interests
  • Also ensuring Internal control compliance metrics are adhered to, execute bi annual testing, reporting and animating test result to stakeholders
  • Boostering a control and compliance culture within across the region
  • Stakeholder Engagement: Serve as the primary point of contact for senior leadership and stakeholders across the region, providing updates on business performance, challenges, and opportunities
  • Digital Transformation: Drive initiatives aimed at leveraging technology to enhance service delivery, improve data analytics capabilities, and streamline processes, ensuring the organization remains competitive in a rapidly evolving market
  • Market Insights: Monitor industry trends, economic developments, and regulatory changes in Sub-Saharan Africa, providing insights to inform strategic decision-making and positioning the organization for success

Regional Lead: End to end invoice to cash process

DANONE Food Company
12.2021 - Current
  • Responsible for animating, driving performance and efficiency within the Invoice to Cash space for 6 business units across Africa and Middle East

Head of Finance (Integrated/ Shared Business Service)

DANONE Food Company
10.2021 - 06.2023
  • Set up shared services model in Danone South Africa in line with Danone Group core model
  • Lead the team responsible for end-to-end shared Finance Services in the following areas: Procure to Pay (Account Payables), Invoice to cash (Account Receivables), Record to Report (Financial Controlling, Tax, Treasury and Insurance), Employee Service (Pay-roll Management), Master Data Management
  • Key areas of Responsibility: Oversee financial activities of the organization, Working Capital Management, Forecasting financial results, Overseeing the budgets, Conducting risk management, Evaluating and initiating investments, Allocating resources and managing finances, Deliver cost reduction strategies
  • Other responsibilities include: Drive efficiencies while delivering high-quality service to internal and external stakeholders, Deliver KPIs and objectives to drive value creation within the business, Leverage financial expertise while deriving value with strong business impact, Execute Group financial policies within the Business Unit, Lead strategic financial decisions by establishing, monitoring, and enforcing policies and procedures
  • Slash Fixed costs by over 40% by redesigning efficient processes and deploying best practices and digital tools
  • Delivering value to the business in excess of 1meuro
  • Led the transformation project to digitalize Invoice to Cash and Procure to Pay processes, reducing time spent in manual work by over 30% and freeing up time for productivity
  • Drive productivity target to achieve Business forecast and pledges
  • Lead and Co-ordinate a team of resources in planning, controlling, employee services, tax, insurance and Master Data
  • Advice C-level executives on transformation and restructuring agenda relating to Financial Business Services

Regional Head of Treasury Africa

DANONE Food Company
02.2019 - 06.2022
  • Responsible for treasury operations in eleven countries (5 CBS’) across the continent
  • Specifically accountable for optimizing the capital structure of the different CBUs/Countries, support, execute capital allocation actions and ensure the business is appropriately funded through debt, cash and liquidity management planning, structures and actions
  • Additionally, partnering with businesses to mitigate earnings volatility from financial risk arising from changes in interest rates, foreign exchange and commodity prices and providing commercial support through trade financing
  • Lastly, Leading and ensuring digitalization and efficiency of key treasury and A.R processes
  • Key Performance Areas: Liquidity & Cash Management, Funding & Investment Management, Forex, Commodity & Interest Rate Exposure Management, Treasury Operations and Accounting, Risk Management & Policy Compliance, Overdues and A.R management, Digitalization of key treasury and A.R processes, Continuous Improvement lead
  • Digitalizing treasury processes across Africa to deliver a productivity target of 25%
  • Reduced treasury costs across the region by 20%
  • Implemented collection simplification and automation projects, deploying mobile money across the regions with Manual processes (This became best practice from Africa and is being implemented globally)
  • Drove the reduction and collection of overdues to improve overdues KPI by 200Bps across Africa
  • Reduced Financial cost across Africa by 300 bps
  • Designed framework to reduce foreign exchange risks
  • Initiated and led capital restructuring/ recapitalization across Africa

Study Lead: End to End Invoice to Cash process

DANONE Food Company
01.2021 - 12.2021
  • Led a global transformation project as the Africa Lead for Invoice to cash process to deliver 30% productivity to bottom line
  • Led the gap analysis study to build a bridge from the ‘as is’ to the ‘to be’

Treasurer

FAN MILK PLC (SUBSIDIARY OF DANONE)
08.2017 - 01.2019
  • Responsible for providing in-depth analysis of cash, foreign exchange risk and working capital management to enable management take informed decisions
  • Improved Cash awareness across the business
  • Restructured Capital base of the company to reduce gearing and deleverage the company
  • Slashed finance payments of the company by over 50%
  • Designed and led the cash and spares committees for improved cash liquidity
  • Improved Free Cash Flow by over 100%
  • Designed payment terms frame – work, led the renegotiation of payments with key vendors
  • Introduced more efficient and cost-effective international trade agreements
  • Designed credit approval frame-work for effective credit management
  • Strategically re-structure and manage accounts Payables/Receivables units

Relationship Manager

GUARANTY TRUST BANK PLC
10.2008 - 08.2017
  • Tenure at Guaranty Trust Bank spanned a 9 year period working with and managing customer relationships across different industries (Retail, commercial and corporate)
  • Signed on/ manage major corporate accounts with turnover figure in excess of 100 million USD and foreign exchange need in excess of 100Million USD
  • Control over 70% market share of major customers in my books
  • Manage a team with balance sheet deposits figure in excess of 15million USD and loan book in excess of 7million USD
  • Structure, process, renew and present credit facilities for companies in diverse industries ranging from Manufacturing, conglomerates to financial services and trading

Audit Assistant

BAKER TILLY NIGERIA CONSULTING
11.2006 - 06.2007

Education

Master of Science (M.Sc.) - Financial Management

Edinburgh Business School (Heriot Watt University)
U.K
12-2024

Certificate - International Financial Reporting

Association of Chartered Certified Accountants (ACCA)
01.2015

B.Sc. (Hons) - Applied Accounting

Oxford Brookes University
U.K.
12.2013

Bachelor of Technology - Fisheries And WildLife

Federal University of Technology
Akure, Nigeria
09-2008

Skills

  • Strategic Transformation Leadership
  • Change management
  • Process Optimization
  • Digital Transformation
  • Stakeholder Engagement
  • Project Management

Hobbies and Interests

Involved with a not-for-profit organization, Career Masterclass, focusing on improving the pipeline of female and BAME talent.

Professionalaffiliates

Association of Chartered Certified Accountants (ACCA), Member

Affiliations

  • Co - Manage Career Master Class (NGO ) focused on enabling career growth for ethnically diverse professionals who want to accelerate their careers

Timeline

Director: Finance and Business Services Sub Saharan Africa

DANONE Food Company
07.2023 - Current

Regional Lead: End to end invoice to cash process

DANONE Food Company
12.2021 - Current

Head of Finance (Integrated/ Shared Business Service)

DANONE Food Company
10.2021 - 06.2023

Study Lead: End to End Invoice to Cash process

DANONE Food Company
01.2021 - 12.2021

Regional Head of Treasury Africa

DANONE Food Company
02.2019 - 06.2022

Treasurer

FAN MILK PLC (SUBSIDIARY OF DANONE)
08.2017 - 01.2019

Relationship Manager

GUARANTY TRUST BANK PLC
10.2008 - 08.2017

Audit Assistant

BAKER TILLY NIGERIA CONSULTING
11.2006 - 06.2007

Master of Science (M.Sc.) - Financial Management

Edinburgh Business School (Heriot Watt University)

Certificate - International Financial Reporting

Association of Chartered Certified Accountants (ACCA)

B.Sc. (Hons) - Applied Accounting

Oxford Brookes University

Bachelor of Technology - Fisheries And WildLife

Federal University of Technology

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OMOFOLAKE FAWIBE