Officer, Finance Contracts
Jobs at:International Rescue Committee
Deadline of this Job:
09 December 2022
Date Posted: Wednesday, November 23, 2022 , Base Salary: Not Disclosed
As a member of IRC Global Finance, Officer, Finance Contracts is responsible for providing finance support on all financial aspects of the pre and post award process for all contracts funded projects for his/her portfolio. This position supports contract compliance with IRC finance policies and procedures, standard methodologies, GAAP, FAR, FCDO Cost eligibility Guidance and any other applicable donor regulations and agreement terms. The incumbent is responsible for the implementation of ongoing systemic improvements in process and procedure, with regards to billing, revenue recognition, financial risk management, cash flow and fixed fee application and recovery, and improve the efficient use of IRC resources including the proactive identification and resolution of issues imposed by donors.
S/he will work closely with Program Finance Coordinators, the AMU staff, Business Development, DDFs, RFDs, Technical Units and Program and Award Finance support unit.
Key Areas Of Accountability
Contracts Financial Management
• Develop, implement, and maintain consistent processes governing the sound management and analytics of the pre and post contract processes ensuring sound financial stewardship of these resources and in compliance with the appropriate donor requirements.
• Review financial capacity assessments of supply chain partners and the suitability of recommended special conditions to mitigate financial management risks.
• Track the contracts portfolios agreements and vital statistics in files and Opportunity Tracking Information Systems (OTIS).
• Ensure that all fiscal matters are current relating to his/her contracts portfolio, including federal, state, other public and private contracts.
• Work closely with Program Finance Coordinators and Technical Units, ensuring regular assessment of cash forecasting and reforecasting when needed to mitigate risk of adverse spending variances.
• For those contracts without a dedicated Program Finance Coordinators, support budget holders with preparation and review of budget vs actual spending monitoring report on monthly basis.
• Work closely with Program Finance Coordinators, Technical Units and Awards Management Unit, ensuring financial close-out of all commercial contracts in accordance with IRC and donor requirements.
• Responsible to record contract revenue recognition for his/her contracts portfolio and preform a reconciliation on monthly basis or when milestones are approved by donors.
• Participate in response to solicitations, including reviewing proposal budgets or milestones cost and pricing, ensure all costs are budgeted, including adequate risk premium.
Donor Agreements, Reporting and Monitoring
• Keep current on all Contract funding regulations and accounting updates that affect budgeting and donor reporting.
• Support his/her contract portfolio with project budget setup in Integra, including mapping and using unique D-codes to help with complex donor financial reporting requirement.
• Prepare and submit contract invoices together with financial reports for his/her contract portfolio.
• Implement IRC’s contract billing system ensuring accuracy and reconciliation (expenses, and revenue recognition) before submission.
• Review contracts receivable balances to ensure appropriate and timely follow up with Program Finance Coordinators or Program Leads.
Systems, Processes and Continues Improvements
• Document IRC Internal Process Flows e.g. Subcontractor & Contractor Payment and Fund Management Processes.
• Support in designing the financial reporting templates for donor reporting e.g., Invoices, Checklists, Timesheets, Inception Milestone Tracker etc. in compliance with the Donor Commercial Contract.
• Responsible for sharing lesson learned from portfolio level (e.g., systems, process, pain points and success).
Technical Support, Training and Management
• Support contracts financial management training for IRCs staff and or Supply Chain Partners.
• Understand and adhere to established Contracts financial policies and procedures.
• Deliver responsive service to IRCs staff on all questions related to contracts funding for his/her portfolio.
• Assist Field Offices in the assessment of their contracts management by providing ongoing feedback concerning performance.
• Bachelor’s Degree in Accounting, Finance, or equivalent - Master’s Degree, CPA or CA a plus.
• 8 years of progressive financial Contracts management experience.
• Demonstrated familiarity with GAAP and shown general knowledge of Fund Accounting.
• Previous work experience with a major general ledger software package – experience with MS D365 preferred.
• Knowledge of US Government (Federal Acquisition Regulations), World bank, FCDO commercial contracts and European Union regulations is a plus.
• Excellent interpersonal skills, including the ability to communicate effectively in a multi-cultural environment and diplomatically manage collegial relationships.
• Solid organizational skills: the ability to be flexible and perform under pressure in a fast-paced team environment.
• Attention to details is desirable.
• Strong digital literacy: facility with MS Word, Excel, various accounting software, and email/internet software.
• Travel when needed.
Work Hours: 8
Experience in Months: 84
Level of Education: Bachelor Degree
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