Background

The African Economic Research Consortium (AERC), established in 1988 is a public not-for-profit organization devoted to the advancement of economic policy research and training. AERC's mission is to strengthen local capacity for conducting independent, rigorous inquiry into the problems facing the management of economies in sub-Saharan Africa. That mission rests on two basic premises.

Role Purpose

The Chief Finance Officer is responsible for providing overall leadership, oversight and management for the General Shared Services Division which comprises the Finance, Procurement & Human Resource management functions. The position holder is a key member of the senior management team and assists the Executive Director with overall management of the Consortium’s financial resources and in the development and maintenance of the Consortium’s financial and administrative policies and procedures. The position is responsible for taking the lead in developing annual budgets and revisions and ensuring that long and short-term financial requirements are accurately projected. The position advises management on long term financial strategies and investments and participates in fund raising initiatives. The position is the custodian of the risk management functions and ensures that an effective risk management framework is in place and operational. S/he ensures compliance with the respective legislation, policies and procedures and donor terms and conditions.

Major Duties and Responsibilities

General Management and Administration

• Providing leadership and management of the Resources Division which includes the Finance, Procurement and Human Resource and administration Units.
• Anticipating and moving to resolve expeditiously and proactively any financial and administrative issues or problems that might otherwise tarnish the consortium’s reputation.
• Advising the Executive Director on matters relating to administration and finance and to risk assessment in relation to procurement as a member of the Senior Management Team (SMT).
• Overseeing the administration of the consortium’s Provident Fund.
• Facilitating and participating in the development of the strategy and Business plan development, revisions and reporting.
• Participating in the meetings of AERC Board, its Executive Committee meetings and Programme Committee meetings. Presents information on financial and administration matters.
• Establishing an effective administrative infrastructure to ensure that resources are utilized effectively to support Programmes.
• Developing performance standards for administrative and financial services to other units within the secretariat and externally to donors and to the AERC network and ensuring that monitoring and reporting mechanisms are in place to track the Secretariat’s performance.
• Performance review for the Finance and Procurement teams.
• Ensuring that office processes and corporate information systems are effectively used in the Secretariat.
• Reviewing and recommending changes to the administrative policies and procedure manuals.

Treasury & Risk Management

• Developing an investment strategy and acting as key liaison with the Consortium’s investment managers and ensuring close monitoring of the investment managers activities.
• Engaging with the Internal Auditors and External Auditors and ensuring an effective follow through on audit and risk matters including the Risk Register.
• Tracking currency risks and instituting an effective process for managing currency risks.
• Leading key analysis and preparation of the Treasurer’s report and reports of the Audit and Risk Committee, taking minutes and follows up on matters arising.
• Approving transfer of funds, reimbursements, and related matters requiring authorization by and signature of the Treasurer.
• Overseeing the administration of the consortium’s insurance policies and ensuring that there is in place an effective insurance program to provide adequate protection of the Consortium’s assets against insurable risks at a minimum practical cost.

Financial Management

• Ensuring that the Secretariat’s financial operations are conducted in accordance with Consortium policies and procedures and that both financial controls and value for money regimes are in place.
• Reviewing and recommending changes to the financial management policies and manuals.
• Anticipating and identifying financial and administrative risks and takes appropriate action in terms of reviewing and/or developing new policies and procedures and recommending audits.
• Developing and updating a multiannual outlook of revenues, expenditures and balances on the basis of risk analysis and financial management information.
• Coordinating the annual attest audit; arranging for special audits as required by specific donor grant conditions.
• Authorizing book entries covering year-end adjustments for reserves, contingencies and other major or unusual items.
• Reviewing the larger proposals to donors to ensure that financial matters are adequately addressed.
• Reviewing financial reports, expenditure, variances and donor reports.
• Reviewing all draft audit reports and taking necessary action, following up on completion, issues raised and implementation of recommendations.
• Approval of procurement services, specific procurement contracts, payments and adjustments journals.

Grant Management

• Oversight of all grants to grantees, institutional grants and conference grants.
• Ensuring all risks relating to grants issues are managed

Human Resource Function

• Overall responsibility for an effective Human resource and administrative function.
• Ensures a Human Resource Strategy aligned to the organization strategy exists and followed to ensure achieve the secretariat’s objectives.
• Oversees ensuring effective staff performance management & administration is in place and is proactive in reviewing the operating procedures of the Secretariat in order to recommend appropriate changes as well as compliance with the respective local labor and tax laws.
• Oversees human resources management system, including recruitment, job classification, pay and benefits, performance review, staff training and grievance process.

General Administration Function

Administration

• Establishes an effective administrative infrastructure to ensure that resources are utilized effectively to support programmes.
• Develops performance standards for administrative and financial services to other units within the secretariat and externally to donors and to the AERC network and ensures that monitoring and reporting mechanisms are in place to track the Secretariat’s performance.
• Ensures that office processes and corporate information systems are effectively used in the Secretariat.
• Oversees the administration of the Consortium’s insurance policies and Provident Fund.
• Reviews and recommends changes to the administrative policies and procedure manuals.

Procurement function

• Provides leadership, vision, direction and structure to the procurement function to drive effective, efficient and value-add procurement planning, sourcing and contract management aligned with the organization’s strategic priorities.
• Establish and lead an organization-wide procurement governance and risk management framework to monitor, manage and drive procurement performance, ensure compliance with relevant policy and manage risks.
• Create an internal understanding and buy-in of the importance and benefits of effective procurement management, ensuring adherence to policies and processes, despite the need for agility in time-pressured and demanding operating environments.
• Establish key performance indicators to capture, report and evaluate the benefit and performance of all procurement activity and lead improvement planning and implementation in consultation with key stakeholders.
• Ensures compliance to all policies, procedures and other requirement.
• Ensures that risks are well managed within the procurement function.

Qualifications

• Master’s degree in Business, Finance or Accounting.
• Certified Accountant
• At least ten years’ experience in a managerial position and progressive experience in financial resources management, resource planning & allocation.
• Proven record in updating financial management functions to respond to rapidly changing external environments and operational demands.
• Impeccable ethics and integrity and proven track record in managing with financial proprietary.
• Knowledge of and experience in handling AML, FATCA and other related practices.

Key Skills and Competencies

• Strategic thinking and leadership.
• Unquestionable ethics and impeccable integrity.
• Excellent financial management and reporting skills.
• Good knowledge of information and communication technology and computerized management & financial systems.
• Well-organized and able to multi task and meet deadlines.
• Excellent interpersonal skills including diplomacy & fairness.
• Excellent people management skills.
• Excellent presentation skills.
• Computer literacy including standard office applications such as MS Office packages Word, Excel, PowerPoint, Access and Internet.
• Ability to work under pressure and meet deadlines.
• Excellent judgment in analyzing data and information.
• Excellent oral and written communication.

• Providing leadership and management of the Resources Division which includes the Finance, Procurement and Human Resource and administration Units.
• Anticipating and moving to resolve expeditiously and proactively any financial and administrative issues or problems that might otherwise tarnish the consortium’s reputation.
• Advising the Executive Director on matters relating to administration and finance and to risk assessment in relation to procurement as a member of the Senior Management Team (SMT).
• Overseeing the administration of the consortium’s Provident Fund.
• Facilitating and participating in the development of the strategy and Business plan development, revisions and reporting.
• Participating in the meetings of AERC Board, its Executive Committee meetings and Programme Committee meetings. Presents information on financial and administration matters.
• Establishing an effective administrative infrastructure to ensure that resources are utilized effectively to support Programmes.
• Developing performance standards for administrative and financial services to other units within the secretariat and externally to donors and to the AERC network and ensuring that monitoring and reporting mechanisms are in place to track the Secretariat’s performance.
• Performance review for the Finance and Procurement teams.
• Ensuring that office processes and corporate information systems are effectively used in the Secretariat.
• Reviewing and recommending changes to the administrative policies and procedure manuals.
• Developing an investment strategy and acting as key liaison with the Consortium’s investment managers and ensuring close monitoring of the investment managers activities.
• Engaging with the Internal Auditors and External Auditors and ensuring an effective follow through on audit and risk matters including the Risk Register.
• Tracking currency risks and instituting an effective process for managing currency risks.
• Leading key analysis and preparation of the Treasurer’s report and reports of the Audit and Risk Committee, taking minutes and follows up on matters arising.
• Approving transfer of funds, reimbursements, and related matters requiring authorization by and signature of the Treasurer.
• Overseeing the administration of the consortium’s insurance policies and ensuring that there is in place an effective insurance program to provide adequate protection of the Consortium’s assets against insurable risks at a minimum practical cost.
• Ensuring that the Secretariat’s financial operations are conducted in accordance with Consortium policies and procedures and that both financial controls and value for money regimes are in place.
• Reviewing and recommending changes to the financial management policies and manuals.
• Anticipating and identifying financial and administrative risks and takes appropriate action in terms of reviewing and/or developing new policies and procedures and recommending audits.
• Developing and updating a multiannual outlook of revenues, expenditures and balances on the basis of risk analysis and financial management information.
• Coordinating the annual attest audit; arranging for special audits as required by specific donor grant conditions.
• Authorizing book entries covering year-end adjustments for reserves, contingencies and other major or unusual items.
• Reviewing the larger proposals to donors to ensure that financial matters are adequately addressed.
• Reviewing financial reports, expenditure, variances and donor reports.
• Reviewing all draft audit reports and taking necessary action, following up on completion, issues raised and implementation of recommendations.
• Approval of procurement services, specific procurement contracts, payments and adjustments journals.
• Oversight of all grants to grantees, institutional grants and conference grants.
• Ensuring all risks relating to grants issues are managed
• Overall responsibility for an effective Human resource and administrative function.
• Ensures a Human Resource Strategy aligned to the organization strategy exists and followed to ensure achieve the secretariat’s objectives.
• Oversees ensuring effective staff performance management & administration is in place and is proactive in reviewing the operating procedures of the Secretariat in order to recommend appropriate changes as well as compliance with the respective local labor and tax laws.
• Oversees human resources management system, including recruitment, job classification, pay and benefits, performance review, staff training and grievance process.
• Establishes an effective administrative infrastructure to ensure that resources are utilized effectively to support programmes.
• Develops performance standards for administrative and financial services to other units within the secretariat and externally to donors and to the AERC network and ensures that monitoring and reporting mechanisms are in place to track the Secretariat’s performance.
• Ensures that office processes and corporate information systems are effectively used in the Secretariat.
• Oversees the administration of the Consortium’s insurance policies and Provident Fund.
• Reviews and recommends changes to the administrative policies and procedure manuals.
• Provides leadership, vision, direction and structure to the procurement function to drive effective, efficient and value-add procurement planning, sourcing and contract management aligned with the organization’s strategic priorities.
• Establish and lead an organization-wide procurement governance and risk management framework to monitor, manage and drive procurement performance, ensure compliance with relevant policy and manage risks.
• Create an internal understanding and buy-in of the importance and benefits of effective procurement management, ensuring adherence to policies and processes, despite the need for agility in time-pressured and demanding operating environments.
• Establish key performance indicators to capture, report and evaluate the benefit and performance of all procurement activity and lead improvement planning and implementation in consultation with key stakeholders.
• Ensures compliance to all policies, procedures and other requirement.
• Ensures that risks are well managed within the procurement function.

• Strategic thinking and leadership.
• Unquestionable ethics and impeccable integrity.
• Excellent financial management and reporting skills.
• Good knowledge of information and communication technology and computerized management & financial systems.
• Well-organized and able to multi task and meet deadlines.
• Excellent interpersonal skills including diplomacy & fairness.
• Excellent people management skills.
• Excellent presentation skills.
• Computer literacy including standard office applications such as MS Office packages Word, Excel, PowerPoint, Access and Internet.
• Ability to work under pressure and meet deadlines.
• Excellent judgment in analyzing data and information.
• Excellent oral and written communication.

• Master’s degree in Business, Finance or Accounting.
• Certified Accountant
• At least ten years’ experience in a managerial position and progressive experience in financial resources management, resource planning & allocation.
• Proven record in updating financial management functions to respond to rapidly changing external environments and operational demands.
• Impeccable ethics and integrity and proven track record in managing with financial proprietary.
• Knowledge of and experience in handling AML, FATCA and other related practices.