Job Description
POSITION TITLE: FINANCE MANAGER
LOCATION: NATIONAL OFFICE (HARARE)
Purpose of the Position:
To manage the financial transactions, treasury, financial accounting, financial reporting aspects and the day to day running of the finance function of World Vision Zimbabwe (WVZ) at the National Office. To ensure that all the technical aspects of financial accountability are functional, coordinate all systems and procedures in accordance to World Vision International (WVI) Field Financial Manuals, financial and non-financial WV policies and procedures, Generally Accepted Accounting Principles (GAAP) and International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS), as applicable.
Duties and Responsibilities
Major Accountabilities/Responsibilities:
Financial Reporting
Oversee the production of monthly Consolidated Financial Reports for the entire office in ensuring that reporting deadlines are met and financial information has integrity and is in accordance with World Vision Field Finance Manual, IFRS and Cost Allocation methodologies.
Ensure that there is a seamless integration of systems between Technical Development (TD) (development sponsorship accounting) and Humanitarian Emergency Assistance (HEA) (grant accounting)
Compiling of Finance Divisional Monthly Management Report for input in National Office report to regional office
Compiling of external audit financial statements to ensure positive audit opinions are passed by auditors, compliance with accounting standards and WVI policies. Prepare financials for Annual report for statutory, public and donors requirements.
Manage the annual year end processes to ensure compliance with Global Centre year end memos for closure of financial year books in accordance with WVI FFM IAS and IFRS to ensure year end processes and financial reports reflect a true and fair view of financial position of the office, in compliance with Support Office carry forward Partner Budget and Actual System (PBAS) processes.
Ensure that all financial transactions are in accordance to WVZ financial policies, guidelines, and internal controls and minimize risk exposure and losses for the office.
Review monthly payrolls before payment to ensure accuracy, proper charging to cost center and compliance to Zimbabwe Revenue Authority (ZIMRA) regulations and local and global Human Resources (HR) policies.
Treasury Management
Manage the treasury function of WVZ by ensuring appropriate liquidity levels are maintained for all off shore and in-country bank accounts, manage investments to ensure smooth implementation of ministry by both HEA and TD projects/grants.
Financial Risk Management in the areas of treasury management and foreign currency exchange in order to minimize financial losses i.e. foreign exchange losses and funding losses through implementation of appropriate hedging techniques.
Manages funding downloading process for currency conversions processes in accordance to approved funding structures and banking regulatory framework to ensure optimum exchange rates are obtained for currency exchange.
Transmission of Global Center payments to ensure adherence to Global Treasury guidelines and resolving of related queries.
Manage the investment of severance, Emergency Response and Disaster Management (ERDM) and self-insurance funds at Global Centre by ensuring that all provisions are adequately funded.
Mange the inter World Vision office transaction through the review, approval of Pre approvals and settlement advices on the Settlement Advice (SA/Inter-office) database on a daily basis.
Financial Management
Ensure financial systems and controls are established and maintained in order to provide appropriate levels of security and controls over financial resources of the organization.
Provide technical financial support to cost centre heads in interpretation of financial statements, risk assessments, budget spending to aid decision making and enhance ministry.
Daily approval of Payment Requests, Journals and procurement documentation in accordance to Field Financial Manual (FFM), WV policies and GAAP accounting standards to mitigate against transactional risks
Explore ways of reducing operational costs by leveraging cash resources without compromising ministry.
To ensure WVZ is responsive in providing feedback and responses to Global Treasury and Global Financial Solutions (GFS) on financial reporting and treasury issues.
Ensure the spending and funding draw downs of WVZ is in accordance to PBAS committed funds at any time.
Financial Planning and Control
Consolidating of the entire WVZ budgets including Support Cost budgets in accordance to Cost Allocation Policy (CAL) budget guidelines and conduct budgetary review for cost centre budgets and providing budget justifications to Resource Working Group (RWG).
Advice executive and management on the monthly budget trend analysis and budget projections in order to mitigate against potential budget overruns.
Ensure that the office spending is within the budget guidelines from the Regional Working Group and PBAS commitments.
Oversee and approve the budget request and commitments of office budget on PBAS and that budget carry forward are accurately input on PBAS.
Financial Analysis
Perform financial analysis on WVZ financial performance for executive strategic decision making and other analysis that have financial implication to other departments at National Office e.g. People & Culture / Human Resources, Operations etc
Perform economic reviews and outline impact on the organization to assist executive and management in accomplishing business objectives.
Assist with cost centre resource allocation; cost and efficiency of WV operations; and numerical analyses at national and project levels
Risk Management
Review and monitor financial procedures, internal controls, policies and manuals as well as improve on financial systems, procedures and internal controls and advice Finance Director on policy changes to mitigate against weaknesses in control environment.
Ensure implementation of internal controls and compliance to ensure that WVZ does not violet stewardship in ministry delivery.
Coordinate and facilitate all financial audits in ensuring that there is smooth running of Internal, External and Partnership audits, Year-end processes by ensuring that no adverse audit results and that audit recommendations are implemented.
Advice executive on regulation and government policy changes that impact the organization.
Grants Management and Resource Mobilisation
Provide financial leadership to all Grants implemented in the North, new and current, and these include: Cyclone Idai, WFP, Enterprise, ECHO, ADH, FAO, UNHCR (Tongogara Refugee Camp) grants etc
Manage Grants to comply fully with reporting, audit, compliance, budgetary and closeout requirements in this final year of implementation.
Maintain reasonable oversight on Sub Recipients’ financial management and compliance through quarterly financial support visits, field visits, meetings and desk review of financial reports.
Close out Sub Recipients under the grant in accordance with WV policies and donor regulations.
Support resource acquisition efforts through participating in proposal development process, including proposal development (budgeting) and go/no go decisions.
Capacity building
Staff supervision, mentoring and capacity building to ensure the technical capability is as per global and local context.
Assist in recruitment and retention of finance staff in WVZ.
Conduct coaching for performance for finance staff at the National Office to ensure Key Performance Indicators are attained.
Qualifications and Experience
Knowledge, Skills and Abilities:
Bachelor’s degree in Accounting, Finance, or Business Administration, or a related field.
MBA in Finance, Masters in Business Leadership(MBL), MSC in Finance/Accounting/Auditing will be an added advantage.
CA, CPA, ACCA or equivalent preferred
Minimum 5 years of experience in finance position with medium business/medium NGO/government agency
Minimum 3 years of experience in finance management leadership position
Knowledge of government grant regulations and financial reporting requirements is key
Strategic Leadership
Ability to manage multiple revenue sources
Experience of treasury activities, establishment and monitoring of budgets and an understanding of data processing concepts and systems is preferred.
Experience with humanitarian aid in-country is a plus.
Experience working in a challenging operating environment is an added advantage
Solid knowledge of accounting principles, financial systems, budget/cash flow monitoring and internal accounting controls.
Highly flexible and agile in style with the ability to produce creative and pragmatic solutions to complex problems
Experience with planning and forecasting
Able to work in a cross-cultural environment with a multi-national staff.
Sound networking and engaging skills
Must be able to lead and manage a team.
Good working knowledge of computerized accounting systems, preferably Sun Systems & ProVision.
Must be computer literate in Microsoft Office programs.
