Oyewole Toriola

Experience

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  KPMG Professional Services

  Oct 2003 - Mar 2008

  Senior Consultant Audit and Business Assurance

  KPMG Professional Services is a member firm of KPMG International, a Swiss corporation, and a global network of professional firms providing audit, tax and business advisory services with more than 100,000 personnel in over 154 countries.I served as the team leader on the audit of various clients in the telecommunications, shipping and FMCG industries in Nigeria. In most cases, the mandate included identifying areas for improving the accounting, internal control and operational efficiency of the clients, as well as ensuring compliance with local statutory and other internationally acceptable accounting/audit reporting standards. Recommendations made led to reduction in tax exposures of the clients, improved operational efficiency and enhanced internal controls.• Managed project activities and ensured all deliverables meet expected standards and were completed within agreed deadlines.• Prepared the final audited financial statements for clients.• Analyzed financial performance and movements in balance sheet items.• Managed client relationship and expectations.• Managed project budgets to ensure that there were no over-runs.• Tested controls designed by the client and concluded on the effectiveness or otherwise of the controls.• Examined the accounting records to ensure that no material misstatement had been made.• Made recommendations on the implementation of proper internal controls system. Show less

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  Bank PHB Plc

  Apr 2008 - Mar 2012

  Finance Control Officer

  Keystone Bank Limited (formerly Bank PHB Plc) is a full service commercial bank in Nigeria with subsidiaries in the Gambia, Sierra Leone, Liberia and Uganda. It has a total asset of over NGN380 billion and operates from 199 branches across Nigeria.• Responsible for preparing and managing the operating costs budget for all 199 branches in Nigeria. Determined and allocated monthly spend limits to each branch and responded to requests for more funds. Successfully kept branch operating costs within budgets.• Prepared monthly operating costs variance analysis.• Prepared the consolidated financial statements of Bank PHB and its ten subsidiaries (banks and non-banks) for the period ended 31 March 2011. These financial statements were filed with the Nigerian Stock Exchange and published.• With dwindling income and rising operating expenses in 2010, researched into and proposed cost reduction strategies that included outsourcing and implementation of shared services. This resulted in annual cost savings of over NGN240 million for the bank. • Developed the process flow for the automated expense processing system now being used by the bank. • Managed the CFO’s internal control desk when the CFO was given the oversight function over the internal control unit. Show less

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  Honeywell Group Limited

  Mar 2012 - Jun 2015

  The Honeywell Group is a leading conglomerate in Nigeria with businesses across diverse industries: foods, oil & gas, construction, hospitality, security services and power. The Group employs over 10,000 people, local and expatriate staff.• Managed the Group’s risk register.• Prepared annual audit plans and coordinated the internal audit teams that executed routine and non-routine reviews at subsidiaries; reporting directly to the Board.• Continuously monitored operating effectiveness of key processes; designed and implemented controls to mitigate significant risks identified.• Designed processes and controls for start-ups set up by the Honeywell Group Ltd.• Led the due diligence teams that evaluated companies (in Nigeria and Ghana) prior to acquisition.• Carried out risk evaluation of new and ongoing projects proposing appropriate responses for managing exposures.• Managed tax planning and responded to tax audit queries for all subsidiaries.• Managed compliance risks for the Group. Show less • Chief budget officer for the Honeywell Group. Managed budgeting and budgetary control processes for all subsidiaries.• Analyzed business performance and prepared monthly consolidated performance reports to provide insight into the results of each subsidiary in the Group and recommended remedial actions when required.• Carried out quality assurance review of audited financial statements of all subsidiaries (including a publicly quoted entity) before approval by executive management and filing with the regulatory bodies or public release to the Nigerian Stock Exchange.• Managed the conversion of all subsidiaries to the International Financial Reporting Standards (IFRS) framework.• Carried out various strategic reviews to support decision making by the Group’s Board Show less

  • Head, Enterprise Control & Compliance

    Feb 2013 - Jun 2015

  • Financial Planning and Reporting Manager

    Mar 2012 - Feb 2013
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  Twinings Ovaltine Nigeria Limited

  Jul 2015 - Feb 2017

  Financial Planning and Analysis Manager

  Twinings Ovaltine Nigeria Limited is the Nigerian subsidiary of Associated British Foods, a diversified international food, ingredients and retail group with over 118,000 employees in 47 countries.• Led and managed the process for preparation of annual budgets, 5-year financial plans, quarterly rolling forecasts and monthly financial outlook.• Accountable for accurate, timely, insightful and complete monthly reporting to the Group office in the United Kingdom.• Coordinated continuous improvement of the internal control environment and compliance with ABF controls framework.• Supervised the finance team, including assigning roles and managing team members’ development.• Oversight of activities in respect of maintaining appropriate accounting records, monthly financial closing and filing of returns with relevant regulatory authorities.• Supervised the factory accountant and coordinated monthly demand forecast and production planning meetings (S&OP).• Presented performance results to the Group office in the United Kingdom on a monthly basis.• Provided strategic analysis and business insight to support the marketing and sales teams in critical business decision making. Show less

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  Deli Foods Nigeria Limited (a subsidiary of Tiger Brands Limited)

  Feb 2017 - Mar 2019

  Finance Controller and Head, Information Technology

  Head hunted to lead the finance and IT functions with a mandate to improve processes and the control environment, my roles and achievements include the following:• Responsible for maintaining and enhancing the company’s accounting and reporting systems, ensuring compliance with appropriate IFRS standards and regulatory requirements.• Provides strategic leadership for financial planning using business insight and operational understanding.• Manages periodic forecasting and subsequent performance monitoring and reporting activities, ensuring insightful reports are provided timely to the parent company.• Responsible for effective management of Deli Foods’ treasury function to ensure availability of adequate funding for the company’s needs.• Implemented activity based costing to enhance better decision making on products, mix and pricing.• Introduced additional controls to improve processes including payroll, van sales, IT access and credit sales to customers. Show less

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  Rensource Energy

  Mar 2019 - Jun 2020

  Vice President Finance
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  KPMG Nigeria

  Nov 2020 - Oct 2022

  Associate Director and Head, Finance & Accounts
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  Pivot-GIS

  Nov 2022 - now

  Chief Financial Officer