Head of Finance at BRAC Maendeleo Tanzania

Head of Finance

Head of Finance at BRAC Maendeleo Tanzania November 2024

Position: Head of Finance
Job Location: Dar es salaam, Country Office.
Job Type: Full-time
Purpose of this job:
The
Head of Finance will be responsible for ensuring the effective and
efficient management of financial operations at the Country Office. This
role will involve overseeing financial systems, ensuring compliance
with regulations, providing financial guidance and support, and
coordinating with regional and head offices. The Head of Finance will
play a crucial role in supporting informed decision-making and ensuring
the financial sustainability of the Country Office.

RESPONSIBILITIES
1.Oversee the Overall Accounting and Finance Processes of the Country Operation:

• Lead the finance and accounting functions, ensuring effective financial management across the country office.
• Maintain robust financial controls to safeguard the organization’s assets and ensure
• compliance
  with policies and procedures. Manage all financial operations including
  payroll, accounts payable, accounts receivable, and cash management.

2.Ensure Project–wise Accounts Recording, Reporting, Cost Allocation, and Recovery:

• Ensure accurate and timely recording of financial transactions for all projects within the country.
• Oversee the allocation of costs to appropriate projects, ensuring compliance with project agreements and financial standards.
• Monitor project financial performance and ensure effective recovery of project costs.

3. Supervise the Monthly Accounts Closing and Deliverables to Head Office Finance:

• Lead the month-end closing process, ensuring the timely and accurate submission of financial reports to the Head Office.
• Review all financial data to ensure completeness, accuracy, and compliance with accounting standards.
• Ensure the timely preparation and submission of financial deliverables to support consolidated reporting.

4.Ensure Proper Reconciliations of Bank Accounts, Intercompany Transactions, and
Accruals:

• Oversee the reconciliation of bank accounts, ensuring discrepancies are identified and resolved promptly.
• Manage the reconciliation of intercompany transactions, ensuring alignment between the country office and other entities.
• Ensure timely and accurate accruals to reflect the financial position of the country office.

5.Provide Strategic Level Support for Country–Level Decision Making:

• Provide financial insights and analysis to the Country Director and senior management team to support strategic decision-making.
• Participate in the development of the country’s financial strategy, including risk
• management
  and sustainability planning. Contribute to long-term planning and
  forecasting to ensure the financial sustainability of the country
  office.

6.Annual Budgeting and Periodic Variance Analysis:

• Lead the development of the annual budget as well as any other financial plans &
• forecasts,
  working closely with program and operations teams. Conduct periodic
  financial reviews and variance analysis to ensure alignment with the
  budget and provide explanations for deviations.
• Collaborate with department heads to implement corrective actions where necessary.

7.External Audit Coordination and Timely Completion:

• Serve as the primary point of contact for external auditors, ensuring the smooth execution of the audit process.
• Prepare
  all required documentation and financial statements for audits,
  ensuring compliance with local and international accounting standards.
• Address audit findings and recommendations, implementing corrective actions as needed.

8.Regulatory and Tax Affairs:

• Ensure
  compliance with all regulatory and tax requirements in the country,
  including timely submission of tax returns and other filings.
• Liaise with government agencies and regulatory bodies to resolve any tax or regulatory issues.
• Monitor changes in local laws and regulations and assess their impact on the country office’s financial operations.

9.Project Donor Financial Reporting:

• Ensure
  the accurate and timely preparation of financial reports for donors, in
  accordance with donor agreements and requirements.
• Monitor project budgets to ensure funds are being spent in accordance with donor agreements and project plans.
• Coordinate with program teams to ensure alignment between financial reporting and programmatic deliverables.
• Any other activities related to finance assigned by the management.

EDUCATIONAL REQUIREMENTS

• Masters/ MBA in Finance, Accounts or related subjects
• Must have Professional certification such as ACPA (T) or ACCA & CIMA

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SAFEGUARDING RESPONSIBILITIES:

• Ensure the safety of team members from any harm, abuse, neglect,
  harassment and exploitation to achieve the programme’s goals on
  safeguarding implementation.
• Act as a key source of support, guidance and expertise on safeguarding for establishing a safe working environment.
• Practice,promote and endorse the issues of safeguarding policy among
  team members and ensure the implementation of safeguarding standards in
  every course of action.
• Follow the safeguarding reporting procedure in case any reportable incident takes place and encourage others to do the same.

REQUIRED EXPERIENCE.

• Minimum
  of 8-10 years of progressive leadership experience in finance and
  accounting, ideally within a complex international NGO.
• Demonstrated ability to develop and implement strategic financial plans, budgets, and forecasts.
• In-depth
  knowledge of financial management principles, including accounting
  standards, budgeting, forecasting, and risk management.
• Proven experience in managing grants, ensuring compliance with donor regulations, and maximizing grant utilization.
• Proven ability to lead and mentor high-performing finance teams, fostering a positive and collaborative work environment.
• Strong
  interpersonal and communication skills to effectively engage with
  diverse stakeholders, including donors, partners, and internal teams.
• Experience in implementing and improving financial systems and processes, including ERP systems.

SKILLS AND COMPETENCIES

• In-depth knowledge of IAS/IFRS, Accounting,Budgeting, Finance, Auditing, Tax, VAT, and Fiscal Laws.
• Strong understanding of international auditing standards.
• Proficient in relevant software applications.
• Excellent communication and presentation skills.
• Dedicated to delivering high-quality work and committed to upholding the highest professional standards.
• Ability to work effectively under pressure and in a dynamic environment.
• Works effectively in diverse teams, fosters positive relationships, and is committed to achieving shared goals.
• Fluency in English.

EMPLOYMENT TYPE: CONTRACTUAL
SALARY: Negotiable