Role of Finance Manager
The Finance Manager’s role is to manage all components of the company’s finance and accounting functions, including the areas of management accounting, treasury, reporting, budget & tax planning, ensuring financial processes and internal controls are strong, grant management, and compliance.
The FM will lead a team to ensure the company’s financial policies and procedures are adhered to and that proper management of the company’s finances takes place. The FM will support management and the Financial Director with accurate financial analysis and reporting that will allow them to make informed business decisions.
Specific Key Responsibilities:
Financial Management and Controls
• Develop and oversee implementation of the company’s financial policies and procedures
• Lead development of the annual and project/departmental budgets by providing guidance and relevant historic reports to department heads. Ensure proper implementation of all budgets
• Review daily journal entries and monthly financial statements, provide analysis for senior management decision making.
• Review all reconciliations and monthly reports on a timely basis to ensure prompt processing.
• Prepare monthly financial management reports for senior management, including balance sheet, P&L, bank reconciliation report, payables/receivables, etc.
• Oversee the management of the finance/accounting team and ensure proper functioning of each member, to ensure the following: reconciliation of weekly sales collections, reconciliation of payments, reconciling of general ledger, preparation and reconciliation of bank statements, maintenance of supplier accounts, timely processing of invoices, ensuring data entry in ERP is accurate and timely.
• Monitor cash flow through preparation of cash budgets and funding requests to ensure sufficient cash is available to meet operational needs.
• Ensure full compliance with tax regulations and reporting, including employee and business tax requirements.
• Ensure timely and successful completion of internal and external audits, including statutory audits of annual accounts.
Financial Monitoring and Reporting
• Lead and provide accurate, timely and meaningful financial analysis to identify trends, flag potential issues, and recommend actions to senior management
• Liquidity and cash management analysis and reporting
• Accurate and timely monitoring of donor budgets and preparation of donor reports.
• Maintain dashboard to monitor financial health of the company
• Develop, implement and ensure compliance to company financial policies and procedures
• Play role of financial advisor to the Director and senior leadership team by providing sound financial advice, management, and accounting strategies to optimize the organization's financial performance and strategic position
• Ensure all Headquarters reporting requirements are fulfilled within timelines established
• Establish high-level of credibility and manage strong working relationships with internal, external donors and partners.
Grant/Donor Fund Management
• Maintain and update a tracking dashboard for grant spending; ensure monthly tracking of donor budget spending.
• Ensure 100% compliance with donor requirements related to use of funds and reporting timelines.
Skills and Requirements
• A Bachelor’s degree from an accredited University in finance, accounting, business or related field; Master’s degree preferred
• Certified Public Accountant (K) or equivalent
• Must have 10-15 years of experience managing finances and accounting, including at least 5 years in a senior management position. Experience in an NGO Sector is an added advantage.
• Familiarity with USAID programming, rules, and regulations.
• In depth knowledge of Kenyan corporate financial law and risk management practices. Knowledge of other East African countries’ corporate financial law an added advantage.
• Demonstrated understanding of how to manage and maintain program budgets.
• Proficient in the use of MS Office and financial management software (e.g. ERP)
• Able to lead a team managing multiple and often simultaneous tasks and create a work environment recognized for high level of organization, timeliness, cost-effectiveness, accuracy, and results
• Extremely high attention to detail and continuous striving for 100% accuracy