Head of Finance

  • Full Time
  • Lusaka, Zambia
  • Applications have closed
  • Salary:

ActionAid Zambia

ActionAid Zambia (AAZ) is part of the ActionAid Global (AAG) Federation, sharing common values and aims to drive social change towards a just, equitable and sustainable world. AAZ works with marginalised and excluded women and young people, their organizations and movements to address the structural causes of social injustice, gender inequality and poverty.

ActionAid Zambia has a vacancy for an experienced and suitably qualified Zambian to fill the senior leadership position of HEAD OF FINANCE to be based in Lusaka.

JOB PURPOSE

The holder is responsible for the accuracy of financial reports, compliance with accounting standards and AAZ Zambia’s accounting policies and procedures. He /She will work to improve the quality of financial records and ensuring compliance with statutory requirements. The position exists to ensure the financial, management and legal integrity of ActionAid Zambia (AA Zambia) within the framework of policies and procedures established internationally. The position also provides strategic financial management direction of AA Zambia to ensure that AA Zambia’s overall strategic objectives are met, and that there is continual improvement in monitoring, control and reporting of expenditure by AA Zambia and partners.

KEY RESPONSIBILITIES

a) ORGANISATIONAL DEVELOPMENT AND CORPORATE DEVELOPMENT

  • Play the role of a member of the Country Management Team (CMT), participate in regular CMT meetings and contribute to the overall development of AA Zambia and to decision making within the management team. Ensure that monthly management accounts are produced, presented and discussed in CMT and board and updated accounts in relevant format disseminated to budget holders.
  • Represent AA Zambia at relevant finance related meetings, networking with other professionals in the sector and using such opportunities to learn to share best practices in the sector and profession.

b) BOARD RELATIONS AND GOVERNANCE

  • Participate in Board meetings and give necessary support and information to the Finance & Admin Committee – quarterly or other such reporting.
  • Engage and support the Board in any other role and capacity or assignment for better finance governance and management of the country programme.
  • Provide agreed reports, information to the finance and audit subcommittee and to the board in a timely manner and as requested.

c) STRATEGY DEVELOPMENT

  • Provide to CMT financial analysis of the preceding Country Strategy Paper (CSP) and future trend to develop long term financial plan to achieving CSP’s objectives
  • Support overall budgeting for the strategy.

d) FUNDRAISING

  • Funding planning: Participate in development of fundraising investment plan. Provide advice to Country Director (CD) and CMT on risks and returns for selection of/decision on fundraising investment plans.
  • Grant Management:
  • Ensure that all staff are trained in contract management and that running donor contracts are well managed, with funds utilised in accordance with donor guidelines and relevant financial reports are produced and timely submitted and are of high standard.

Proposal stage:

1. Prepare budget template that include cost norms
2. Support budget holder in preparing budget when required and review afterward to make sure that all costs are covered.
3. Identify co-funding / pre-financing sources.

Contract negotiation stage:

1. Review financial terms and conditions (payment; derogation etc.) in donor contract before signing by CD.
2. Check if budget amount in contract is the same as stated in proposal

Implementation stage:

1. Summarize Donor Rules and Requirements
2. Design budget code; report templates
3. Participate and organise inception workshop for project team and partners
4. Make claim to donor as per schedule and keep track on grant debtor (amount claimed but not yet paid by donor)
5. Prepare Project Management Accounts in the format and currency of donor
6. Prepare project financial report to submit to donor
7. Check compliance to donor policies
8. File accounting documents related to project for audit or future reference

Project closure and audit:

1. Ensure audit process runs smoothly and make sure project closure checklist is in place and followed.

e) PEOPLE MANAGEMENT

  • Participate in the recruitment and induction of staff in the unit.
  • Assign performance objectives and conduct comprehensive performance appraisal of supervised staff, and provide /obtain feedback when necessary to supervised staff
  • Work with Human Resource Function to identify training needs and development opportunities for staff in the finance unit
  • Provide relevant financial management training to all staff in AA Zambia and partner organisations when required
  • Ensure that finance staffs are regularly trained and are able to utilise and navigate finance systems, including ability to generate timely reports.

f) FINANCIAL MANAGEMENT AND CONTROLS

Cash Flow Management:

  • Manage the cash flow process including cash flow projections and planning; cash requirement and disbursement with AAI, partners and donors
  • Develop, implement and monitor cash balance policy Procurement:
  • Review contract with suppliers to make sure that term and conditions on finance are in line with policy/practice.
  • Ensure regular review, updating, compliance and implementation of financial and procurement policies and procedures.

Exchange rate Management:

  • Ensure that the CP closely monitors exchange rate fluctuations and is abreast with key developments in the financial market that have implications for AAZ.
  • Ensure assets held in other currencies are revaluated periodically to reflect the market rates

g) PARTNERSHIP MANAGEMENT

  • Participate and ensure that quarterly partner assessments are done to ascertain partners’ financial standing.
  • Review financial reports and carry out periodical financial monitoring of partners
  • Provide training to partners on financial management.

h) SYSTEM, POLICIES AND PROCEDURES MANAGEMENT

  • Update the Finance Policy on regular basis as and when there are changes in global Financial Management Framework (FMF) or law of the land
  • Ensure that AA Zambia has effective financial controls, and that partners also have adequate controls to safeguard AAIZ resources
  • Ensure that sponsorship rules and guidelines are strictly adhered to in the utilisation of funds.
  • Ensure that the CP has developed clear budgets with budget holders taking responsibility for both development and adherence to budget lines.
  • Ensure effective reserves management, paying particular attention to reserves position during planning and reporting periods. The CP begins to record positive reserves from current negative reserves.
  • Ensure that the CP has developed and implements a clear resource allocation framework (RAF) that also meets AAI requirements
  • Design, update and implement forms/ templates/ procedures/chart of accounts in line with Financial Policy and law of land as well as donor requirements
  • Update, maintain and backup the accounting software as per schedule and guidance from International Secretariat (IS) system team
  • Reconcile/review the Balance Sheet items at the end of period
  • Ensure that filing systems (soft and hard) are created and maintained and can be easily accessed and referred to accordingly.
  • Ensure taxes/compulsory deductions are withheld and paid within the time frame as per local law.

i) ANNUAL PLANNING AND BUDGETING

  • Provide Guidelines on financial planning process to relevant staff
  • Coordinate income allocation process as per national RAF
  • Design budget templates for use by AA Zambia and partners
  • Budget review (accuracy; in line with cost norms and the guidelines)
  • Consolidation of financial planning and submission to IS for review and endorsement/approval
  • Upload approved budget into accounting system before commencing the new financial year
  • Carry out half-year forecast or when there is significant change that requires budget revision
  • Manage the budget of the Finance unit

j) Monitoring and Evaluation and Reporting

  • Prepare and submit quarterly and annual reports as per guidelines and deadlines set by IS Finance Department
  • Prepare and submit financial reports as per statutory requirement
  • Design, print out, distribute monthly Management Accounts and coordinate the Variance Analysis process
  • Provide financial analysis and reports to the Board to make strategic decisions
  • Produce financial analysis for overall monitoring and evaluation (M&E) processes (e.g. Participatory Reflection and Review Process (PRRP); Mid-term review; CSP review etc.)

k) AUDIT AND RISK MANAGEMENT

  • Ensure that AA Zambia undertakes scheduled external audits and ensure that all relevant external and internal Audit recommendations are attended to and implemented fully.
  • Draft Terms of Reference (ToRs) for external audit
  • Make sure that reports are available for audit as agreed in audit schedule
  • Coordinate the process of providing initial responses to auditor’s recommendation to CD for review and finalize
  • Coordinate the Risk Register development process and update it on quarterly basis
  • Assess risks associated with long-term financial plan

ACADEMIC QUALIFICATIONS, EXPERIENCE AND SKILLS

  • Bachelor Degree in Finance or Accounting cardinal for the job requirement. Master’s degree or Professional Accounting or Financial Management qualifications such as ACCA, CIMA are preferable.
  • Minimum of five(5) years relevant experience, of which 3 years must in the position of senior financial and /or accounting Management, preferably in the NGO sector.
  • Proven experience in analyzing financial reports and plans and drawing insight for use by management and different donors.
  • Proven experience in developing, implementing and monitoring finance and administration policy, systems and procedures.

KNOWLEDGE

  • Familiar with development and human rights issues in the country
  • Thorough understanding of international finance and accounting systems
  • Knowledge of and/or experience of the Not-For-Profit, NGO and/or Development sector
  • Very good knowledge of computerised accounting packages, MS Excel, data bases and SUN system.

ESSENTIAL SKILLS

  • Leadership and management
  • Strategic thinking
  • Financial reporting, analysis and management
  • Excellent analytical and risk management skills
  • Planning, organisation, time management, and coordination
  • Fluency in written and spoken English

ABILITY

  • Work on own initiative and with minimum supervision and to stay on task
  • Work under pressure and tight deadlines
  • Regular travel frequently

PERSONALITIES

A committed, mature and decisive self-starter with high level of integrity, detail focus.
Application: To apply, please send a cover letter stating the position you are applying for and Curriculum Vitae highlighting how you match the criteria in the Job Description to the following email address; [email protected] The Closing date for receipt of applications is 12th April 2019 at 17:00 hours.

ActionAid is an Equal Opportunity Employer (EoE), however; qualified women are encouraged to apply. Please Note: While we value all applications, we can only respond to short listed and susscessful candidates.

Action Aid’s Website: www.actionaid.org/zambia

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