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Finance & Grants Manager

Closing: Nov 11, 2022

This position has expired

Published: Oct 6, 2022 (3 months ago)

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Job Summary

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The Finance & Grants Manager is ultimately accountable for the efficient planning, financial and risks management and reporting on the financial management of the organization including managing the sub -award process with a focus on reducing the risk to African Alliance.

The Finance & Grants Manager will work closely with the core team to provide guidance throughout the finance cycle from budgeting and planning to actual expenditure, reporting, organizational and project specific audit preparations, and managing financial risk exposure due to sub granting.

The Finance & Grants Manager will assess sub-grantees’ capability for managing sub awards, monitor sub grantees and provide technical assistance as and when needed. Included in this will be the development (where needed), coordination and control of the budgeting process and the monitoring of results by providing all necessary financial and narrative reports for funders and donor organizations, the board and core team.

The Finance & Grants Manager will manage the payments to the partner organization for project activities that lead to the achievement of the project objectives and technical assistance to sub awardees.

It is the responsibility of the Finance & Grants Manager to identify high risk areas and areas for improvement.

The Finance & Grants Manager plays a strategic role on the management team and will use his financial and risk management expertise to help ensure effective, ethical and prudent financial and sub awarding decision-making in the organization. The Finance & Grants Manager will also manage and coordinate the performance of the finance & grants team.


Responsibilities

The Finance & Grants Manager is ultimately accountable for the efficient planning, financial and risks management and reporting on the financial management of the organization including managing the sub -award process with a focus on reducing the risk to African Alliance.

The Finance & Grants Manager will work closely with the core team to provide guidance throughout the finance cycle from budgeting and planning to actual expenditure, reporting, organizational and project specific audit preparations, and managing financial risk exposure due to sub granting.

The Finance & Grants Manager will assess sub-grantees’ capability for managing sub awards, monitor sub grantees and provide technical assistance as and when needed. Included in this will be the development (where needed), coordination and control of the budgeting process and the monitoring of results by providing all necessary financial and narrative reports for funders and donor organizations, the board and core team.

The Finance & Grants Manager will manage the payments to the partner organization for project activities that lead to the achievement of the project objectives and technical assistance to sub awardees.

It is the responsibility of the Finance & Grants Manager to identify high risk areas and areas for improvement.

The Finance & Grants Manager plays a strategic role on the management team and will use his financial and risk management expertise to help ensure effective, ethical and prudent financial and sub awarding decision-making in the organization. The Finance & Grants Manager will also manage and coordinate the performance of the finance & grants team.


Budgeting and Cash Flow Forecast

1. In consultation with the Executive Director convene a series of meetings in October each year to assess programme plans for the following year, forecasted flow of funds and budgeted expenditure for each programme.

2. Based on this information, draft an organizational budget for the following year.

3. Give informed financial updates, reports and advice in quarterly

4. Management meetings and ensure that any critical operational issues related to finance are flagged and resolved in these meetings.

5. Assist budget holders with drafting of budgets.

6. Monitor budgets for over and under expenditure for specific projects and donors.

7. Advise budget holders of over and under expenditure on a monthly basis.

Cash flow forecast

1. Assist the budget holders to draft cash-flow forecasts for the upcoming months.

2. Ensure that funds are transferred between investment and current accounts on a monthly basis as needed.

3. Ensure that invoices due to the donor has been processed and submitted.

4. Ensure timeous follow up on outstanding invoices

Monitor cash flow

1. Annual budget prepared and communicated to programme areas.

2. Management are kept up to date and informed about their performance according to the budget.

3. Accurate budgets submitted to donor

4. Regular and accurate cash flow forecasts. Maximum interest earned on funds.

5. Timeous follow up of invoices to be submitted and paid.

Accounting and Reporting

1. Management and preparation for half yearly Board Meetings

2. Ensure that African Alliance complies with the Companies Act 2008 and with the Companies Regulations, IFRS and the Code of Good Governance for NPO’s

3. Provide reports and make presentations on finance issues for the Board meetings

Donor financial reports

1. Check GL to ensure accuracy in terms of donor allocation

2. Liaise with programme staff to ensure prompt payment, submission of accurate financial information, timely follow-up and error free posting and record keeping

3. Draft donor financial reports according to donor requirement

4. Attend meetings with donors and brief budget holders where necessary

5. Liaise with donors where required

6. Ensure that donor reports are accurate and meet all donor deadlines

Payments

1. Supervise payments and ensure that payment requisitions have all the correct authorizations and supporting documents and are coded.

2. Ensure that invoices are reconciled to the statements.

3. Ensure that all payments are loaded accurately and timeously on Nedbank.

4. Ensure that accurate payment schedules are prepared.

5. Ensure that all documents are stamped immediately after payments

6. Ensure that the preferred supplier database is updated by the Office Administrator on a regular basis

Transaction Processing

1. Ensure that transactions are processed accurately and timeously.

2. Ensure that all advances are checked and reconciled before next advance is paid. The staff advance and credit card schedule is prepared and sent to managers twice a month. All reconciliations are correct and completed on time.

3. Ensure that month end is completed by the 15th of the following month.

Financial reports

1. Prepare internal and external financial reports

2. Prepare full analysis of the statement of financial position, statement of comprehensive income and other reports at each month end.

Payroll

1. Do comparison of total cost to company, net salaries, medical aid, pension and pensionable salaries against previous month.

2. Check and authorize payroll

3. Ensure that all staff are paid by the 25th of each month

Asset Register

1. Maintain the asset register.

2. Ensure that the asset register agrees to the information on accounting system

3. Ensure that the Office Administrator conducts a physical inspection of all assets of the organization annually.

4. Ensure that the Office Administrator tags/ bar codes all assets and that the assets of the organization are physically listed at each office area.

5. Complies with all regulations.

6. Regular reports and presentations are available to Board members.

7. Accurate and timeous reports are produced.

8. Attend and contribute at meetings.

9. Follow up after meetings.

10. Payments made are accurate, correct and paid on time.

11. All finance reports are accurate and completed by the due date.

12. The financial analysis is completed by 20th of each month.

Compliance and Financial Policies and Procedures

1. Work to refine financial systems to ensure proper and transparent financial management in line with International Financial Reporting Standards (IFRS)

2. Ensure financial policies and procedures are reviewed and updated at least annually and ensure monitoring of internal controls and compliance with these

3. Work with the core team to develop and coordinate the annual workplan and budgeting process.

4. Ensure that the organization is SARS compliant including with regards to Income Tax, VAT, UIF, and PAYE and that all submissions and payments are done by the due date.

5. Management of the cash flow of the organization, together with control of all bank accounts, petty cash floats and organizational credit cards

6. Coordinate payroll and ensure that staff are paid by the 25th of each month

7. Ensure timely processing and payment of all programme related payments so that programme deliverables can be met as per grant requirements.

8. Ensure that financial reporting takes account of the provisions of all relevant funding contracts.

9. Ensure the provision of internal financial reports each month that include the following: Financial reports for the previous month as well as year-to-date showing expenses incurred, funds available and funds needed.

10. Review of monthly reconciliation

11. Ensure that staff adheres to the finance calendar.

12. Support the annual BEE verification process

Compliance

1. Ensure compliance with the African Alliance financial policies and procedures

2. Ensure compliance with donor contracts

3. Prepare for kick off meetings with project staff

4. Train staff on donor compliance relating to finance issues

5. Ensure that reports are submitted timeously as per donor requirements

6. Maintain a donor tracking schedule

7. Maintain a proper filing system at all times on all awards

8. Call monthly meetings with budget holders to discuss the financial reports

9. Train budget holders and operation staff on compliance areas in the agreement

10. Appropriate and up to date finance operating procedures

Effective cash flow management

1. Effective inventory

2. Management

3. Payments completed on schedule

4. Compliance with all requirements

5. Accurate financial reports completed on schedule

6. All financial processes are implemented in accordance with African Alliance policies. All donor awards are adhered to. The relevant staff are familiar with the donor contract.

7. Ensure that budget holders read the reports.

8. Deal with queries.

9. Ensure spending on track.

10. All staff are familiar with compliance issues in a donor agreement.

Audit Management

1. Appoint and manage the relationship between the designated audit firm and African Alliance and schedule and prepare for the annual audit to ensure records are up to date and on hand.

2. Ensure findings are communicated to the core team,

3. Coordinate with donors who require financial audits, oversee quarterly internal audits and spot checks; and ensure prompt corrective action against findings

4. Check agreement and liaison with donor regarding terms of reference of audit

5. Request approval from donor on audit firm selected and terms of reference if so stipulated in the donor agreement

6. Contact external auditors on audit preparation and requirements

7. Manage the relationship between the designated audit firm and African Alliance and prepare for the audit to ensure records are up to date and on hand

8. Ensure findings are communicated to the core team, the Board and ensure implementation of corrective action plans

9. Management report should contain few findings and corrective action planned for audit findings to be addressed within 3 months.

10. Annual audits conducted on time and in compliance with donor requirements.

People Management

1. When required, with the assistance of HR, recruit, select and induct new or replacement staff for the department and ensure that all staff have a detailed job description.

2. Provide guidance to finance staff through positive leadership example.

3. New positions are filled with competent employees

4. Actively manage the performance and development of staff through regular one on one meetings; participating in the bi-annual performance appraisals; providing recognition for extraordinary work and if necessary, addressing performance issues immediately and effectively

5. Encourage staff to participate in their own development and help identify development initiatives and interventions.

6. Staff are given regular formal and informal feedback about their performance and development

7. Manage day to day HR issues such as employee leave, overtime, time exchange etc. and help your staff balance the demands between work and life outside of work Leave policies are consistently adhered to and applied and staff have accurate leave balances

8. Hold monthly meetings with budget holders to discuss reports and to ensure that they are kept up to date and are included in decisions that affect them.

9. Monthly programme meetings are held & the finance & programme staff identify issues that need urgent attention


Experience required

1. Evidence of progressive growth with increasing responsibility in prior employment.

2. Proven initiative and ability to take on and complete projects.

3. Proven experience overseeing a financial system and supporting policies and procedures.

4. Supervisory experience

5. Proven ability to manage sub awards, due diligence, monitoring and close out

6. Proven ability to develop an organisation-wide budget based on collective programme strategies and actively manage reporting and expenditure

7. Proficient in MS Excel, Pastel Evolution, QuickBooks

8. Knowledge of technical issues relevant to post such as payroll and statutory banking and audit requirements

9. Knowledge of IFRS

10. Knowledge of the Companies Act and Code of Good Governance for NPO’s

11. Proven experience drawing up, analyzing and interpreting financial statements and using the information to provide strategic financial guidance

12. Able to develop and implement efficient financial systems in accordance with IFRS requirements

13. Knowledge of SARS policies and processes

14. Knowledge of the Income Tax Act

Skills required

1. Budgeting and financial management skills

2. Proven ability to interpret financial statements and use this information to contribute to strategic decision making

3. Sound decision making and judgment

4. Can manage complexity and think strategically

5. Proven ability to manage a project from inception to delivery; including working with budgets, managing dependencies and taking responsibility for project success;

6. Able to drive the project planning and strategic direction of the unit and actively involve the entire team

7. Proven ability to manage the performance and development of employees

8. Exceptional ability to write financial reports

9. Relationship management and can interact at all levels

10. Ability to delegate tasks and responsibilities and follow up regularly

11. Ability to make presentations

12. Ability to work under pressure

Personal qualities required

1. Confident, assertive communicator who can work comfortably with diverse groups of people and across all levels

2. Excellent writing skills in English

3. Attention to detail

4. Able to prioritize work and manage deadlines

5. Planning and time management – meets deadlines

6. Reflective and open to learning


Educational requirements

1. Certification from the Chartered Institute of Management Accountants


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