We are seeking an experienced Finance Officer to join our team to ensure the smooth functioning of the financial system by accurately processing transactions, maintaining records, preparing reports, and implementing internal controls. The Accountant will oversee financial planning, reporting, and compliance with donor, legal, and organizational guidelines.
Key Responsibilities:
1. Financial Record Management
• Maintain accurate financial records, including general ledgers, cashbooks, and supporting documents.
• Ensure all financial transactions are posted daily and processed accurately using approved accounting software.
• Maintain a complete and accurate filing system for financial documentation (hard and soft copies).
2. Financial Reporting and Reconciliations
• Prepare monthly, quarterly, and annual financial reports, including:
o Cashbooks
o Budget and expenditure summaries
o Bank reconciliations
• Reconcile bank accounts and ensure discrepancies are investigated and resolved within set deadlines.
• Ensure internal financial reports are generated and shared with management on time.
3. Cash Management
• Manage petty cash funds, including preparing vouchers, maintaining records, and ensuring proper replenishment once 75% of the float is spent.
• Oversee cash flow to ensure that sufficient funds are available for day-to-day operations.
• Monitor and control payments to vendors, staff advances, and imprests.
4. Payroll Processing
• Prepare and process monthly payroll, including gross salaries, deductions, and net payments.
• Verify payroll inputs, such as leave days, advances, and other deductions.
• Ensure payroll reconciliation with general ledger accounts and submit reports for approval.
5. Internal Controls and Compliance
• Implement and monitor internal controls to safeguard organizational assets and prevent financial irregularities.
• Ensure proper segregation of duties in the preparation, approval, and execution of financial transactions.
• Collaborate with internal and external auditors, providing necessary documentation for audits.
6. Budgeting and Planning
• Preparation of annual budgets and budget revisions.
• Track and report on budget variances, providing explanations and recommendations for corrective action.
• Ensure costs are allocated to the appropriate projects and cost centres.
• Weekly planning of activities to be undertaken and communication with other stakeholders to ensure proper alignment.
7. Procurement and Fixed Asset Management
• Verify financial documentation related to procurement and ensure compliance with procurement policies.
• Maintain and update the fixed asset register, ensuring accurate depreciation and asset tracking.
• Overseeing asset acquisitions, disposals, and transfers as per financial manual.
8. Accounts Payable and Receivable
• Raise payment vouchers and ensure they are complete, accurate, and supported by valid documentation.
• Monitor receivables and ensure timely collection of outstanding amounts.
• Verify that supplier payments are processed within agreed timelines.
9. Donor and Statutory Compliance
• Ensure that financial transactions adhere to donor-specific requirements and legal regulations.
• Prepare financial reports for donors and ensure submission within deadlines.
• Filing of statutory returns, such as tax filings, NAPSA, Workers Compensation, and NHIMA, ensuring compliance.
10. Staff Supervision and Capacity Building
• Support the executive director in supervising and mentoring other staff, ensuring they meet performance standards and deadlines.
• Provide training on financial systems, internal controls, and compliance requirements.
Key Performance Indicators:
• Timeliness and accuracy of financial reports and reconciliations.
• Compliance with donor and statutory requirements.
• Effectiveness of internal controls in safeguarding assets.
• Timely processing of payroll and payment vouchers.
• Reduction of audit queries and financial discrepancies.
Skills and Minimum Qualifications:
• Bachelor’s degree in Accounting or Financial Management.
• ACCA, CIMA, or ZICA qualification is an added advantage.
• Minimum 3-5 years of experience in accounting, financial reporting, or a related role.
• Strong understanding of GAAP and donor compliance requirements.
• Proficiency in accounting software and Microsoft Excel.
• Strong analytical, organizational, and problem-solving skills.
• Ability to lead and work within a team, with excellent attention to detail.
