Finance & Risk Manager Job FSD Kenya

Finance & Risk Manager Jobs, Finance Jobs May 2020,  FSD Kenya Jobs

Position: Finance & Risk Manager

Job description

The Finance and Risk Manager, under the supervision of Chief operating officer, is responsible for ensuring good financial and grant planning, analysis, controlling and management as well as overall compliance with FSD Kenya policies and with statutory rules and regulations. S/he is responsible for sound management of financial resources entrusted to FSD Kenya and ensuring that there are effective procedures in place to facilitate internal controls and accountability of grants provided to its implementing partners. S/he plans, directs, and is responsible for providing quality financial services to all projects and staff of FSD Kenya. Additionally, the Finance and Grant manager is responsible for ensuring effective and efficient management and compliance of all FSD Kenya’s grantees/contractors through maintaining and implementation of appropriate due diligence framework (policies, procedures, tools/modes, systems and structure), so as to minimize losses and protect the FSD Kenya’s reputation. The position provides high-level finance and grants management and administration to achieve project goals, working with partner organizations of all levels. S/he provides overall leadership and oversight for all aspects related to finance and grants management. This requires close collaboration with FSD Kenya project team to ensure compliance with FSD Kenya and donor guidelines.

Responsibilities

Financial management and controlling

  • Contribute to the development of the annual and project budgets by providing guidance to budget holders
  • Ensure that annual budgets are entered into the accounting system to support subsequent reporting
  • Monitor spend against budgets and provide regular analysis to communicate status and highlight any areas of concern
  • Review daily trial balance, monthly and annual financial statements, and ensure they are prepared in accordance with statutory, International Financial Reporting Standards, and set internal procedures
  • Review all reconciliations on a monthly basis to ensure these are processed in a timely manner, accurately, and agree to the general ledger
  • Oversee the management and monitoring of incoming funds (grants and investment interest) to ensure timely and accurate receipt
  • Ensure that all expected income and all receivables are scheduled in the financial system in a timely and accurate basis
  • Map donor budget into the FSD Kenya’s accounting format for easy, timely and accurate monitoring
  • Ensure that the invoicing and/or fund requests from donors are made in accordance with the agreed schedule
  • Ensure monthly reconciliation of the expected vs actual income
  • Oversee the disbursement of funds; ensuring that accurate and timely payments are made to vendors, implementing partners, service providers, and other stakeholders
  • Ensure that all payments and funds are disbursed accurately and on time, and that the general ledger and sub ledgers are updated
  • Plan and allocate payroll costs to project, and ensure that the payroll is processed on a timely and accurate basis
  • Ensure that all matters relating to tax reporting and payments are made accurately and on time
  • Ensure that routine financial administration is carried out in accordance with sound accounting practice
  • Oversee management of inventory at all times (consumables and fixed assets), and ensure the accuracy of FSD Kenya’s fixed asset register

Financial analysis and support

  • Overall responsible for finance analysis and management reporting
  • Lead financial analysis to identify trends, flag potential issues, and recommend actions to senior management
  • Provide accurate, timely and meaningful financial analysis and management information; enabling Management to make effective financial decisions
  • Support to FSD project teams in cost analysis, project budgeting, granting and contracting
  • Liquidity and cash management analysis and reporting

Financial monitoring and reporting

  • Ensure timely and accurate production of financial reports as required by management, Trustee, PIC, auditors, statutory bodies, and other stakeholders, compliant with policy and professional standards
  • Responsible for monthly and quarterly financial and management reports, analysing trends and risks for management attention
  • Preparation of quarterly and annual forecasts addressing forex issues (realised gains and losses)
  • Prepare donor financial report for review by the COO ensuring that it is accurate, and expenditure therein are valid and are complying to all applicable guidelines
  • Liaise with the ERP Project manager and vendor to ensure that the ERP is set up to record necessary data and produce desired reports
  • Collaborate with the programme management team to perform the Monthly Project Financial Review and analyse project budgets (Vision, Regulation, Trade, Market information, Payment platform, Government Payments, Climate finance, Affordable housing projects and cross cutting areas), actual expenses, commitments, grant, and burn rates.
  • Maintain dashboard to monitor the financial health of the programme, including surplus/deficit, program income, and overhead, cash flow
  • Ensure that financial records (both system and physical) are adequately maintained within FSD Kenya
  • Ensure monthly monitoring of receivable reports and analysis to facilitate timely collections from implementing partners

Compliance

  • Support internal and external audits, and/or queries from statutory bodies, providing all requested information and implementing any agreed corrective actions
  • Ensure financial compliance with:
  • MOU requirements & restricted grants
  • FSD Kenya’s policies
  • Tax regulatory requirements (withholding tax, PAYE, etc)
  • Professional standards (IFRS, IAS, etc)
  • Support internal compliance officer in ensuring programme and operational compliance

Grant management

  • Facilitate timely grant processing to partners through ERP and subsequent disbursements, regularly updating the project on disbursement status.
  • Maintain and update grants planner and monitor matrix of all grants/contracts with responsibilities, reporting and KPI requirements for each project and overall programme that informs regular tracking and decision making and reference tool for programme management team
  • Maintain the link between grants management and M&E systems to improve grantee reporting and the link to FSD Kenya grant requirement

Due diligence

  • Conduct due diligence on grantees in coordination with project team
  • Undertake partner risk pre-assessments and grant start-up meetings
  • Undertake partner financial, compliance and/or operational audits as requested and share such results/recommendations with COO
  • Ensure comprehensive review of partner budgets is done. Train the project staff on budget review basics; how to analyse, verify and review proposal budgets; how to tie the budget to the proposal, what to look out for, what questions to ask, what recommendations to make, as well as the basics of reviewing partner cash requests and financial reports against budgets
  • Spearhead the grant inception and close out meetings to ensure smooth implementation of the specific projects. Ensure the staff have the required donor compliance requirement.
  • Attend onsite due diligence meetings with implementing partners and provides feedback on the depth of reviews
  • Support and participate in any project audit exercises and coordinate all participating partners to respond to audit requirements
  • Monitor and prepare monthly reports on returnable grants/contracts
  • Provide quality control for financial management of subawards including reviewing and processing subrecipient invoices and cash requests, with more in-depth monitoring when required
  • Review all partner financial reports submitted ensuring their accuracy and completeness, including securing the validity of expenses reported

Innovation

  • Contribute to design and development of overall due diligence framework
  • Develop and design partner risk assessment tool for due diligence
  • Participate in the development of risk management framework, policy and procedure
  • Contribute to the implementation of the new ERP system
  • Review and recommend update of policy and procedures in regard financial management
  • Supporting project teams on complex procurement

Stakeholder relations

  • Donor relations including specific reporting to individual donors
  • Support to FSD partners on financial management issues
  • Provide team, staff, and suppliers with guidance and sensitisation on improved payment processes, accountability, and practices Respond to and provide advice on finance related queries from projects
  • Advising staff on financial management issues touching on their individual projects
  • Responsible for banking relationship

Qualifications

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