Announcements

Job Title: Director of Finance
Job Band: Management 2
Department: Finance
Location: HQ – Freetown
Immediate Supervisor: Secretary General
Salary: Attractive Salary and Benefits
Job Purpose:
The Director of Finance position is responsible for maximizing Sierra Leone Red Cross Society (SLRCS) returns on financial assets by establishing financial policies, procedures, controls and reporting systems. The substantive is responsible for the overall management and supervision of the Finance Management (Two accountants, two Finance Officers and one cashier) team of the Society.The Director manages and monitors business trends and product availability to pay the best price for goods, services and works without sacrificing quality and delivery timelines,
Key Objectives of the Role
- Manage the financial systems and controls of SLRCS to the highest levels of financial probity, accountability and transparency
- Provide technical and professional leadership in the planning, development and evaluation of an effective accountability system to ensure the prudent management of the financial resources and assets of SLRCS
- Enforce approved financial and systems controls that safeguard the financial resources and assets of SLRCS
- Keeping accounts, including supporting documents and book-keeping records. (Tracking restricted funds received from each donor separately.)
- Supporting managers to prepare budgets, in discussion with beneficiaries.
- Preparing appropriate financial reports for all stakeholders, including beneficiaries, managers, trustees and donors.
- Setting up and implementing a system of controls that empower staff to make good judgements (within policies approved by the trustees).
- Implementing all other specific financial procedures, such as monitoring cash flow, paying salaries and tax, and making payments to suppliers.
- Prepare timely and accurate monthly financial reports that will be used to appraise the performance of programmes against budget with the SMT
- Prepare quarterly financial reports for evaluation and discussion with the Secretary General and the Finance Commission
- Prepare prompt and accurate financial and other ad-hoc reports to the SMT, the SLRCS Governing Board, Donor Agencies and Development Partners that conform to appropriate reporting requirements
- Be an active participant during the annual budget setting process, ensuring that strategic objectives match available financial resources and expected funding commitments from Donor Agencies and Development Partners
- Interpret prevailing and evolving financial conditions so that senior managers and the SLRCS Governing Board are equipped with necessary financial information to mitigate any impediments to performance
Main Duties and Responsibilities
- To manage and account for the financial resources and assets of SLRCS
- Supervise the recording of financial information in the financial management software so that accurate and timely reports are produced for effective financial management, for the senior management team (SMT), the SLRCS Governing Board, Donor Agencies and Development Partners
- Present accurate and timely monthly management accounts to the SMT and the SLRCS Governing Board
- Prepare and plan for internal and external audits, liaise with auditors and produce annual financial statements that are suitable for audit
- Ensure that all information and documentation requested by the auditors are supplied in a timely manner
- Follow up on audit queries or recommendations in a timely manner
- Prepare and monitor cash flow forecasts and recommend corrective actions to avert projected cash flow constraints
- Provide professional leadership and technical guidance to identify, evaluate and mitigate organisational risk factors in all SLRCS programmes and activities
- Devise appropriate strategies and policies that mitigate loss, duplication and inefficiencies
- Identify, develop and implement continuous improvements to accounting systems and procedures to enhance the quality, timeliness and availability of financial information
- Develop strategic financial plans and budget estimates outlining projected sources of revenue and expenditures to achieve targeted outcomes
- Maintain stringent controls to ensure that expenditures are within defined budgetary limits, properly authorised and supported by appropriate documentation
- Provide strategic financial and professional guidance to senior management and the SLRCS Governing Board to ensure that informed strategic decisions are taken
- Accounting policies and procedures should be regularly updated to ensure the efficiency of financial accounting systems and procedures and their compliance to standard accounting principles, procedures and regulations as specified in the Finance Manual and to statutory requirements
- Ensure that the Working Advances Control Account is accurate and up to date
- Coordinate banking services, reconciliations and the custody of funds, securities and other financial instruments
- Develop and implement financial management systems and procedures that improve financial reporting and accounting for acquisitions, maintenance, valuation, depreciation, capitalisation, replacement and disposal of assets
- Lead the development and regular update of the Finance Manual to standardize and streamline financial management practices within SLRCS
- Monitor capital and operational expenditure against approved budgets so as to understand and investigate significant variances to minimise any recurrence
- Make appropriate recommendations to programme managers from financial assessments of programme and project performance against goals and objectives
- Is responsible for the safe custody of financial and accounting documents, ensuring that they are properly filed, secured and readily accessible
- Participate in the recruitment and selection of finance and audit staff/clients
- Provide an oversight contract negotiations with suppliers and contractors to ensure that all contractual obligations are fulfilled cost-effectively
- Participate in organisational performance reviews, business process improvement programmes and undertake special investigations aimed at improving organisational effectiveness as required from time to time
- Devise strategies for the management of investments, surpluses, working capital and expenditure on programmes for the consideration of the SLRCS Governing Board
- Monitor the Society’s portfolio of investments & assets and make investment decisions that optimise the financial resources of SLRCS
- Responsible for the leasing, renting, financing, maintenance and renovation of the properties of SLRCS
Core Competencies
- Bachelor Degree in Finance, Financial Management, Accounting or any other relevant field
- Recognised professional financial/accountancy qualification; e.g. ICASL, ACCA, ACA
- 3 to 5 years’ experience of financial accounting in a humanitarian organisation, commercial enterprise or auditing firm
- Competency in financial control and reporting to board-level
- Competency in financial accounting and reporting software; Microsoft Dynamics Nav preferred
- Experience of administrative systems and procedures
- Knowledge of International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP)
Key Competencies
- Demonstrated proficiency in finance
- IT literate with proven competency in Microsoft Office applications; e.g. Word, Excel, PowerPoint, Outlook, and in the use of the Internet
- Ability to communicate, report and present in English
- Ability to track the performance of programmes against key milestones
- Proven proficiency in computer applications such as word processing, spreadsheets, database, email and in the use of the Internet
Application letters should be forwarded under confidential cover marked the position you have applied for with an updated C.V, names of two referees (non relatives) and supporting documents and emailed to the following address:
This email address is being protected from spambots. You need JavaScript enabled to view it.
The Head of Human Resource/Administration
Sierra Leone Red Cross Society
No. 6 Liverpool Street, Freetown
Deadline for submission is 9th November 2018 at 5:00 p.m prompt.
NOTE:FEMALE CANDIDATES ARE STRONGLY ENCOURAGED TO APPLY
Correspondence will be limited to shortlisted applicants only. Telephone enquiries will not be permitted.