Senior Finance & Procurement Associate - PREBBiE Group

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Job Summary

The Senior Finance & Procurement Associate shall oversee all aspects of financial management within the organization. The job holder will be responsible for managing budgets, financial planning, financial reporting, and ensuring compliance with relevant regulations and grants or funding requirements.

The ideal candidate will have a strong background in financial management, preferably within the context of funded organizations with multiple streams of funding and various projects, and experience working within the non-profit project management setting and social development sector.

Key Responsibilities

General Financial Oversight

• Develop, implement, and monitor financial strategies, policies, and systems that align with organizational goals.
• Manage and implement comprehensive financial plans and budgets for the organization and its departments.
• Conduct monthly, quarterly, and annual budget reviews, ensuring compliance with approved budgets and assisting department managers with budget management.
• Manage cash flow, ensuring the availability of adequate resources for operations.
• Provide financial guidance to managers and other talents.

Accounting & Financial Reporting

• Prepare accurate financial reports, including income statements, balance sheets, and cash flow forecasts.
• Prepare and review financial statements (balance sheet, income statement, cash flow) with supervision from the Head, Finance & Procurement.
• Analyze financial performance, identifying areas for improvement.
• Develop and maintain financial dashboards.

Procurement & Vendor Management

• Design and implement procurement policies that ensure cost-efficiency, transparency, and timely sourcing of goods and services.
• Manage relationships with vendors, negotiate contracts, and maintain a database of approved suppliers.
• Establish procurement planning aligned with project timelines and budgetary constraints.
• Oversee the procurement process, from tendering to contracting, ensuring compliance with organizational and donor requirements.

Compliance & Risk Management

• Ensure compliance with statutory regulations and laws, including the Social Security & National Insurance Trust and the Ghana Revenue Authority for PAYE.
• Ensure all financial and procurement activities comply with local and international legal, regulatory, and donor requirements. Conduct regular risk assessments and recommend adjustments to reduce operational risks.
• Establish and monitor internal controls to mitigate financial and procurement risks. Maintain internal control procedures with clear directives from the Head, Finance & Procurement.
• Ensure the implementation and enforcement of financial policies.

Financial Analysis

• Conduct market research and analyze industry trends on financial analysis and management, to ensure cost efficiencies.
• Collaborate with department managers and Head, Portfolio & Operations to establish and implement financial goals.
• Collaborate with the programs team to secure funding, with support on budgeting and financial analysis.

Audit Reporting

• Oversee financial audits and implement findings to improve financial integrity and compliance.
• Collaborate with internal and external auditors on audit activities to ensure accurate compliance.
• Ensure timely and accurate donor reporting.
• Manage grant financial reporting, compliance, and auditing.
• Ensure accurate grant budgeting and expense tracking.
• Collaborate with internal and external auditors.

Administration

• Perform other relevant tasks as assigned by the line manager and GCEO.

Key Performance Indicators

Budget Variance

• Target: 5%
• Metric: Percentage variance between actual and budgeted expenses.

Financial Plan Implementation Rate

• Target: 90%
• Metric: Percentage of financial plan implemented successfully.

Financial Statement Accuracy

• Target: 99%
• Metric: Percentage of accurate financial statements.

Financial Performance Analysis Frequency

• Target: Quarterly
• Metric: Frequency of financial performance analysis.

Accounting Compliance Rate

• Target: 100%
• Metric: Percentage of compliance with IAS and IFRS and regulatory requirements.

Financial Risk Identification Rate

• Target: 90%
• Metric: Percentage of potential financial risks identified.

Financial Risk Mitigation Effectiveness

• Target: 85%
• Metric: Percentage of effective financial risk mitigation strategies implemented.

Bank Reconciliation

• Target: 1 per month by the 10th day of the ensuing month
• Metric: Number of account reconciliations conducted per month.

Compliance Rate

• Target: 100%
• Metric: Percentage of compliance with safety protocols, regulatory requirements, and company policies.

Team Member Satisfaction Score

• Target: 85%
• Metric: Average score from team member satisfaction surveys.

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