PRIMARY PURPOSE OF THE JOB
- Ensure the overall effective financial management and reporting and actively contribute towards the financial planning and strategic growth of the organisation
- Develop and control BEC’s annual operating budget to ensure that all financial targets are met and financial and statutory regulations complied with
- Provide strategic and financial guidance to ensure that BEC’s financial commitments are met
- Expertly guide the work of the Department’s staff, steer them towards effective delivery of the Department’s mandate and achievement of its goals, and ensure optimal use of all resources within the Department
DUTIES & RESPONSIBILITIES
Strategic leadership to finance services:
- Oversee the formulation, review and implementation of financial policies, strategies, rules, regulations, systems, processes and procedures in order to ensure achievement of BEC’s goals and objectives
- Ensure an appropriate structure, system of policies and procedures for adequate level of control exist over all treasury activities
- Approve Accounting systems and guidelines
- Maintain the BEC ‘s accounting systems and lead the planning and implementation of system reviews and changes
- Align BEC Regulations, Systems and processes with any donor / partner requirements
- Ensure proper accounting records are kept and preserved
- Oversee the implementation and improvements of Financial Management and Reporting Systems
- Take responsibility for all funds, securities and physical properties and assets
- Oversight on the collection, accounting and disbursements of all institutional funds, and authorisation of payments
- Oversight on the timely preparation of the BEC ‘s Payroll and the relevant disbursement and account
- Ensure the maintenance of the asset Register
- Quarterly review of outstanding receivables and outstanding payables
- Approval of the investment of surplus funds
- Conduct business relationships with banks, suppliers and debtors
- Oversee the preparation of statutory annual reports
- Provide technical expert advice to Council, CEO and Executive Management on finance administration, treasury and budgetary matters
- Coordinate and oversee the implementation of recommendations made by independent external auditors
- Monitor and ensure the implementation of any Council Decisions for Finance Department
- Serve on relevant internal / external committee or working group as required, and ensure that the following secretarial support is provided as needed: organising meetings, taking records of the meetings, follow up on implementation of Committee decisions and drafting reports as directed by Committee
- Research trends in finance and procurement, benchmark and promote awareness and application of best practices within the department and across BEC
Strategic leadership to Budgets and Budgetary Control:
- Co-lead Planning and Budgeting working groups / committees with the Head Corporate Strategy, and undertake all advisory, support and oversight duties to ensure the integration of the budgeting and planning functions
- Oversee the preparation and communication of budget guidelines to departments
- Provide expert guidance to departments in budgeting for the items in line with their departmental plans
- Lead the consolidation of departmental budget
Departmental / Staff Management
- Develop departmental strategies and plans in line with corporate goals
- Monitor the realisation of departmental policies, plans and targets
- Budgeting in line with priorities of the department
- Budget management and control in order to optimise returns on expenditures and support the department’s strategy
- Oversee periodic reporting of performance against plans and targets to EMT/Council
- Adapt services to suit new or changing organisational needs and operations
- Ensure that strategic priorities are taken into account when deciding on how to allocate the budget
- Oversee the processing of any extra-budgetary submissions
- Oversee the monitoring of budgets against actuals, and the preparation of quarterly variance reports
- Advise and propose timely corrective actions to address variances and to reallocate unutilised budgets from one Department to another
- Contribute to the following activities, as part of the Senior Management Team:
- Develop policies, strategies and objectives for BEC
- Promote good corporate governance in BEC
- Propose measures to make BEC become a high performance organisation
- Implement organisational plans and monitor achievements against targets
- Build, lead and motivate subordinates to advance into a high performing team
- Ensure that the team carries out their assignments freely, unbiased, objectively and professionally, and that they adhere to relevant legal and regulatory guidelines and in-house and standards policies in the conduct of their duties
- Build positive workplace and team culture within the Department
- Ensure the effective implementation of BEC’s HR policies and practices within the Department
- Within delegated authority and under the guidance and assistance of Human Capital, be responsible for recruiting, training, developing, supporting, supervising, mentoring, motivating and appraising own staff in accordance with BEC’s HR policies and strategies
- Serve on relevant internal / external committee or working group as required, and ensure that the following secretarial support is provided as needed: organising meetings, taking records of the meetings, follow up on implementation of Committee decisions and drafting reports as directed by Committee
- Research trends in own discipline, benchmark and promote awareness and application of best practices within BEC ? Attend to all administrative functions of this position and carry out any other duties which fall within the broad spirit, scope and purpose of this job description and which are commensurate with the grade of the post ? Undertake any other duties as delegated by the Council, the CEO or the Deputy CEO
- Approve quarterly management accounts
- Review Consolidated Budgetary Performance Reports, for submission to Council / CEO
QUALIFICATIONS & EXPERIENCE
Education/Professional Qualification:
- Professional accountancy certification such as ACCA, CIMA, ICAEW, ICAS, ACPA or equivalent
Specialised knowledge and technical skills:
- AS, IFRS and IPSAS
- Proficient in the use of computers and software relevant to the position
Education:
- At least 12 years of finance experience post-qualification
- Experience in financial planning management and reporting fiscal management, capital development projects, risk management accounting and financial accounting in big organisation
- This includes a minimum of 5 years in a senior management position.
Closing date: March 10, 2023