Financial and Account Manager

The Finance and Accounting Manager plays a crucial part in overseeing and managing financial operations and procurement activities of the organization. This includes ensuring effective financial management, budgeting, reporting, and compliance, as well as strategically sourcing goods and services to support the organization’s mission and operations.

Key Areas of Accountability:

• Develop and implement financial policies, procedures, and controls to ensure compliance with financial regulations and best practices.
  Prepare and manage the organization’s budget, monitor financial performance, and provide regular financial reports to the management team.
  Conduct financial analysis and forecasting to support strategic decision-making and resource allocation.
• Manage cash flow, banking relationships, and timely disbursement of funds for operational needs.
• Develop and implement procurement strategies to ensure cost-effective and timely sourcing of goods and services while maintaining quality standards.
• Oversee the procurement process, including supplier selection, negotiation, contracting, and vendor management.
  Devise and implement up-to-date or modified accounting systems to effectively provide complete and accurate records of organization assets, liabilities, and financial transactions.
• Maintain accurate records of procurement activities, contracts, and supplier agreements.
• Collaborate with internal departments to identify procurement needs and develop procurement plans.
• Processing all payments efficiently and in a timely manner.
• Directs the preparation of all financial statements, including income statements, balance sheets, shareholder reports, tax returns, and governmental agency reports.
• Ensure compliance with tax laws, financial regulations, and reporting standards.
• Coordinate with auditors and regulatory authorities to facilitate financial audits and assessments.
• Provide financial insights and analysis to support strategic planning, business development, and fundraising efforts.
• Monitor expenditures, analyze revenues, and determine budget variances and report the same to management.
• Supervise and mentor finance and procurement staff, fostering a culture of collaboration, learning, and growth.
• Collaborate with internal stakeholders, including the Executive Director and program managers, to ensure financial and procurement processes align with organizational goals.

Team Leadership:

• Oversee the day-to-day activities of the team, ensuring smooth operations and efficient workflow.
• Motivate team members to achieve organizational goals and maintain a high level of productivity.
• Identify and empower team members by providing opportunities to enhance their confidence, product knowledge, and communication skills.
• Play a pivotal role in the growth of the company by leading a successful and motivated team.
• Measure and report on team performance, highlighting successes and areas for improvement.
• Actively seek feedback, listen attentively, and incorporate stakeholder input into decision-making processes.
• Ensure the growth of the team as well as the efficient and timely onboarding and offboarding of team members.

Qualification and Experience:

• Bachelor’s degree or Master’s in Finance, Accounting, or a related field is required.
• A higher degree such as a Master’s in Finance, Account, or a relevant specialization is an added advantage.
• 5 years+ of professional experience involving the application of the principles of finance and accounting at a managerial or supervisory level.
• Proficiency in different accounting packages like QuickBooks, Sage Pastel, and Tally.
• Membership of recognized professional accounting body (ICAN, ACA, ACCA, CFA, CIMA) is an added advantage.
• Demonstrated ability to identify financial challenges, analyze options, and propose practical solutions, and attention to detail and accuracy in handling procurement processes.
• Proficient in accounting principles and practices, including general ledger management, accounts payable/receivable, reconciliations, and financial statement preparation.

Skill and Competence:

• Possess a strong understanding of financial principles, budgeting, financial analysis, and financial reporting.
• Ability to develop and manage budgets, monitor financial performance, and make data-driven recommendations for financial decisions.
• Strong negotiation and contract management skills.
• Familiarity with procurement regulations, procedures, and best practices.
• Ability to work in a fast-paced environment, handle multiple projects simultaneously, and meet deadlines.
• Self-starter who takes initiative, uses sound, independent judgment, and discretion, and seeks guidance and feedback where appropriate – a doer as well as a manager.
• Strong analytical and problem-solving skills; highly organized with concern for detail and a commitment to rigor.
• Ability to analyze financial data, identify trends, and provide insights into financial performance.
• Professionalism, empathy, and the ability to work as part of a team, maintain a sense of humor, and interact with a diverse array of people from all walks of life.

Key Performance Indicators:

• % accuracy in financial data entry and reporting, ensuring minimal errors and discrepancies in financial records.
• Timely preparation of financial reports, including income statements, balance sheets, and cash flow statements.
• % automation and processing time improvement in financial and procurement operations.
• Number of programs and projects budgets evaluated to identify cost-saving measures without compromising quality or impact.
• Timely retirement of disbursed funds to maintain financial transparency and accountability.
• Enhanced efficiency of the procurement process, measured by a reduction in the average procurement cycle time.
• Successful negotiation of favorable terms and conditions with suppliers to optimize procurement outcomes.
• % of feedback and reviews received from stakeholders, assessing their level of satisfaction with financial and procurement processes.