Jobs at:Busara Center
Deadline of this Job:
24 January 2023
Date Posted: Wednesday, January 11, 2023 , Base Salary: Not Disclosed
About the role:
The Director, Finance leads Busara’s financial management and strategic planning by providing excellent technical guidance to the finance and accounting team, analyzing our performance and risks regularly, and communicating and engaging the leadership team in critical areas for organizational health and growth.
The Director oversees Busara’s finance and accounting team, which consists of a team in Nairobi as well as a consultant in other offices. Although based in Kenya, the team manages accounting and finance for all Busara offices. The Director will take an active role in building and executing Busara’s financial strategy and policies while keeping up with relevant regulatory changes in key countries.
The Director will have strong relationship management, negotiation and communication skills to complement excellent technical financial management and planning skills. The Director will play a key role in the organization's leadership and is expected to live Busara values of Acting with Curiosity, Acting with Purpose, Acting Together and Acting with Respect.
Financial strategy and planning
• Keep a constant check on the company’s financial position, raising flags in advance, and proactively manage financial opportunities and concerns.
• Review and update the financial systems and processes to respond to evolving organizational business models and strategy.
• Continually assess and manage organizational financial risks, including foreign exchange, tax obligation, regulatory risks etc, including maintaining and updating the risk registry.
• Lead the quarterly and annual organizational budgeting process, including guiding revenue and cost target setting for each unit within the organization.
• Review project pricing structures and budgeting, including maintaining templates and tools for accurate project budgeting.
• Provide strategic support and inputs in the development of an overall organizational strategy and specific component strategies like fundraising strategy, growth and expansion strategy etc.
• Oversee project and vendor contracts, including managing and negotiating specific funder, partners, and vendors requirements
• Oversee financial analysis necessary to prepare financial performance forecasts and advise on critical organizational strategic decisions.
• Oversee critical aspects of financial management and compliance in the growth and expansion to new countries, as and when needed
Audit, internal controls, and compliance
• Maintain up-to-date knowledge of financial regulations and relevant laws in all jurisdictions where Busara works and as relevant to the evolving needs of the organization.
• Build and maintain a Financial Management Handbook with Busara’s accounting and financial policies, processes and guidelines keeping up with organizational needs and relevant regulatory changes in key countries.
• Oversee all internal financial operations, ensuring appropriate financial controls are in place and adhered to.
• Oversee all external audits, delegating responsibilities to designated team members, ensuring that they are completed on a timely basis.
• Oversee compliance with US nonprofit reporting requirements, USAID, Gates, SIDA and other large grantmaking organizations and government compliance requirements, including taxes and statutory payments in countries of operation.
• Oversee all procurement and contracting activities to ensure Busara is compliant with internal policies and processes
Accounting and reporting
• Actively oversee the prioritization of payments and manage specific issues to balance organizational health with project needs.
• Work with the finance and projects teams to forecast and track accounts receivable, continuously improving accuracy of invoicing and collections within a month.
• Manage communication and negotiations related to vendor payments and accounts receivable to effectively manage cash flow and maintain relationships with partners, vendors ensuring overall success of projects and the organization, including cascading the appropriate approach to the finance team and the rest of the organization.
• Oversee the preparation of quarterly, monthly and weekly financial reports and projections, ensuring reports are accurate, readable and fit for purpose for decision making.
• Oversee Busara’s finance ERP and payments systems, including incorporating automation where feasible.
• Oversee day-to-day management of accounts receivable, and accounts payable, through the Finance Manager.
Cash flow forecasting and treasury management
• Create reliable cash flow forecasts for ease of day-to-day management of expenses, including tracking for consistency with plans.
• Manage foreign currency transfers between entities, optimizing to save money, including negotiating the best rates for the organization.
• Advise the executive team on areas of financial investment (in US and other countries of operation) to maintain and build on cash reserves while managing risks, including developing and implementing an organizational Investment policy.
• Advise the executive team on utilization of restricted and unrestricted reserves and create and maintain the appropriate processes to execute on the organizational Reserves Policy.
• Oversee cash management, transaction approvals, bank accounts and banking relationships to ensure there is integrity and accountability at every step of the process.
Leadership and Team Management
• Actively participate in the leadership team and across the organization to communicate the financial perspective on organizational decisions
• Provide proactive, clear, timely and consistent internal communication on financial systems, processes and procedures, including providing status updates, training, workshops etc for staff.
• Demonstrate empathy and active problem solving when engaging with specific project concerns, doing this while adhering to policies and procedures where appropriate.
• Recruit and retain excellent finance team members, ensure good management, mentorship and coaching to enable team members’ growth and development.
• An advanced degree in business, economics, finance, or a related field (MBA preferable)Accounting qualification (CPA, CPA(K), ACCA, CA or equivalent) are preferred
• Deep knowledge of standard accounting principles (GAAP, IFRS, etc.)
• At least ten years of professional experience, with a minimum of 6 years of broad financial management experience, preferably with prior experience as a Director of Finance
• Financial modeling and advanced Excel skills
• Able to set priorities and multi-task while maintaining accuracy and meeting deadlines.
• Excellent communication skills, including being proactive in communication, demonstrating empathy through communication and communicating the need to adhere to policies and procedures where appropriate.
• Personal qualities of integrity, credibility, and dedication to the mission of Busara.
• Ability to thrive as part of a team with diverse experience, expertise, skills, and objectives.
• Ability to stand firm on essential accounting and fiscal compliance and documentation needs.
• Knowledge of and practice in non-profit accounting principles and standards; working with sub-grants, including USG compliance and training of subgrantees.
• Experience with consolidations and NetSuite (or similar ERP system) is highly preferable
• Prior professional experience in East Africa is preferable
Work Hours: 8
Experience in Months: 120
Level of Education: Associate Degree
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