Associate Director of Finance 82 views0 applications

Purpose of the position:

The Associate Director of Finance – provides technical and accounting leadership to the National office finance functions. He/she is responsible for overall budget monitoring and compliance oversight for the National office finance function. S/he oversees the design and implementation of strong internal controls and appropriate financial reporting procedures/policies to minimize/manage risks associated with financial management to achieve consistent compliance with WV International financial policies and procedures. The position supervises the Zonal Finance and Support Services Managers and the National Office accounting and reporting functions.

Major Responsibilities:

Financial Planning and Budgeting (20% of time)

• Lead the production of cash flow reports, annual budget, and forecasts.
• Facilitate the preparation, review and consolidation of the WV Malawi annual budgeting process and provide technical support in line with budgeting guidelines, FFM requirements and donor regulation (including GIK).
• Consolidate and review WVM annual budgets, including Overhead (CAL) budgets in accordance with GC and SARO budget guidelines
• Coordinate the process for review of the AP budgets and ensure accurate and complete program budgets are uploaded on Horizon and in Sunsystems.
• Review the alignment of budgets between projects, MyPBAS and support office ensuring MyPBAS is updated and reconciled monthly.
• Prepare project expenditure management analyses reports and track project spending against budget through Variance Analysis, investigation and follow-up with the respective project.
• Provide technical leadership to the Year-end closing procedures.

Financial Reporting Analysis and Compliance (20% of time)

• Oversee and ensure that Financial and management reports including cash flow forecasts are prepared accurately and disseminated within the due dates organization including those for submission to the Regional office and for the review of the Advisory Council.
• Coordinate the FFR review process with the different functions (program management, M&E, finance) to ensure quality analysis of the issues and identification of appropriate solutions,
• Oversee the development and implementation of financial trainings and capacity building activities to build the capacity of WV Finance staff in relevant and appropriate donor financial management policies, procedures, and standards
• Coordinate and oversee preparation of financial performance scorecards for tracking and benchmarking organizational performance to inform corrective action.
• Coordinate roll out of GC initiatives.

Financial Transaction processing and Accounting (20% of time)

• Maintain WVM Chart of accounts and ensure SunSystems records are accurately maintained for all transactions and assets.
• Ensure that all financial transactions are processed accurately, in a timely manner, and in accordance with generally accepted accounting principles.
• Develop, implement, and maintain processes and controls that are current best practices related to transaction processing.
• Manage, oversee, process (as appropriate), and review processing for the following transactions: payroll, accounts payable, revenue and expense, fixed assets, cash, bank reconciliations, and account allocations.
• Oversee and perform month-end closing procedures, including overhead allocations, account reconciliations, and updating schedules.
• Maintain an orderly accounting filing system for accounting records

Financial risk management, audit Coordination and compliance (20% of time)

• Conduct regular assessment of WVM financial systems and processes to identify control and process gaps and weaknesses and recommend measures steps to mitigate risk associated with these.
• Ensure WV Finance staff are aware of WV and GF policies on Fraud and corruption and that there are adequate systems in place for the prevention and detection of fraud.
• Ensure compliance with Internal & External audit requirements and the submission of statutory reports and taxes as required.
• Ensure that there is real time on-site monitoring during implementation of key activities to mitigate risks of fraud and other malpractices.
• Oversee the implementation of systems and process improvements to increase organizational effectiveness and efficiency.

People Management and Capacity Building (10% of time)

• Lead, direct, mentor and coach a team of finance staff to meet WV organizational objectives. Provide leadership to finance and accounting areas of theorganization supervising Zonal Finance and Support Services managers and the NO Accounting and reporting team.
• Recruit, retain, supervise, train and develop all the staff in the department assigning jobs relevant to accounts payable, accounts receivable etc.
• Oversee Finance new-hire orientation and onboarding, coaching and training for Finance and program staff on financial matters.
• Support the Grants Finance Manager/ AD in ensuring accurate charging of allocated Support costs to grants.
• Maintain up-to-date job descriptions for the Finance Accounts team and ensure Performance Evaluations and work plans are in place.
• Share and replicate finance management best practices with the project teams in order to ensure improvement in financial management

Coordination of support from other departments supporting finance to ensure accuracy of financial records. (10% of time)

• Ensure proper coordination with other support services functions including Supply Chan Management, administration and ICT.
• Participate on the Tender Committee meetings and ensure Finance representation at all such meetings
• Actively participate in management groups e.g Extended Leadership Forum for maximum finance engagement and impact.
• Member of the Internal Audit Committee and the Risk and compliance oversight committee as well as OSHA.
• Sunsystems Administrator for WV Malawi and ensure all Finance support systems are operational and liaise with GC whenever support is needed

Knowledge, qualification and experience required

• ACCA, CPA or CIMA or equivalent professional qualification required.
• Master’s Degree in Business Administration, Accounting or Finance, Management or another relevant field
• Minimum of five years’ experience in a similar leadership position, preferably with an International NGO. At least ten (10) years’ experience in non-profit Accounting and/or grant management, preferably with an International Organization, with at least 6 years’ experience at the management level.
• Must be a, self-motivated, problem solving individual with high levels of initiative
• Good understanding of GAAPS is required
• Thorough knowledge of best practices in capacity strengthening with prior experience of integrating this with programming; experience in curriculum design and development.
• Excellent experience in financial management and Accounting.
• Demonstrated ability to transfer knowledge to diverse audiences through participatory adult learning, mentoring, distance education, and other formal and non-formal methods; experience in the design of and delivery of training workshops
• Must demonstrate a good understanding of contemporary management best practices
• Strong leadership and interpersonal skills, demonstrating diplomacy and tact

• Strong organizational skills and attention to detail