FINANCE OFFICER

Information

Supervised by: Project Coordinator - KPLP-NCYBF

Place of recruitment: Nakuru

Start Date: Immediate

Contract Duration: 2 Years (Renewable)

JOB DESCRIPTION

The Finance Officer will responsible for managing the financial operations of the USAID - KPLP program. This role will oversee all financial reporting, budgeting, forecasting, financial analysis, and compliance requirements. The Finance Officer will work closely with the Executive Director to develop and implement financial strategies that support the organization’s mission and goals.

1) Financial planning and budgeting:

• In conjunction with project team, prepare budgets, forecasts and work plans for projects
•   Monitor budget and financial plan implementation and prepare appropriate periodic tracking reports for the various stakeholders.
• Prepare reports that analyze budgets against actuals income and expenses and advise management on the variances observed, if any.
• Carry out monthly review of the financial performance of projects and advise the project team accordingly

2) Financial accounting and Management

• Participate in the day-to-day financial transactions including invoicing, payments and other related transactions.

• Maintain an up-to-date record of the financial transactions in NCYBF’s Financial Management System (Quick books).
• Process payment requisitions and the corresponding payment vouchers and follow up the approval process to ensure that payment are timely made. Ensure that the payment Voucher are sequentially number and payments are filled timely to allow ease access of records for future reference.
• File all financial records in accordance with approved procedures.
• Post the approved budget into the financial management system with one week after approval of the budget.
• Prepare monthly donor reports in the approved donor templates and formats and share them for review by the 5th of the following month.
• Maintain a fixed asset register for all assets procured by the project as NCYBF approved template
• Make monthly salary transfers from the project account to the salary account are prepared promptly.

3) Payment and Reconciliations;

• Monitor bank accounts to ensure that there are sufficient funds for operations.

• Conduct monthly bank reconciliation statements by the 3^rd of the following month
• Make timely payment of service providers and follow up any late payments
• Follow up original acknowledgment receipts and ensure that there are attached to respectively payment vouchers.
• Maintain an up-to-date schedule of NCYBF Debtors and Creditors on a monthly basis.
• Prepare timely receipts of acknowledgements of donor funds and share the same with supervisor for remittance to the donor.
•  Ensure that all payment are stamped paid as per donor guidelines if any or NCYBF guidelines upon payment in timely manner before filling them.

4) Financial Record Management

• Maintain a file for all the correspondences of the grant.
• Follow and implement all established protocols regarding computerized and physical financial record keeping and retrieval of financial information
• Ensure that all appropriate finance-related paperwork is sent to donors, contractors, consultants, funding partners as required and that NCYBF copies are stored safely on file in accordance with NCYBF’s procedures.
• Follow up to ensure that staff and partners with cash advances submit accurate and timely accountability reports in accordance with NCYBF’s guidelines. In case of default, prepare a report on a monthly basis and submit it to the Project Coordinator for further action.

5) Grant Management

• Upon project allocation or on an annual basis, work with the project teams to prepare costed work plans and budgets.
• Follow up funds requisitions from the donor and advise teams as soon as funds are reflected on NCYBF’s accounts.
• Support the project teams in funds requisition and processing of payments
• Track project budgets and update the project teams on their performance accordingly.
• Prepare monthly reconciliation of the grant account and submit findings with recommendations, if any, to the project coordinator.
• Comply with all financial contractual obligations that NCYBF committed to with the donor.

6) Financial reporting and audit management

 Post accurate information in the financial management system and generate the required periodic and project financial reports.

• Prepare reports that are aligned with generally accepted accounting principles and standards and ensure that all reporting complies with the NCYBF’s policies and procedures.
• Prepare periodic financial donor reports in line with the donor agreements.
• Prepare monthly budget tracking reports for the assigned projects.

7) Compliance management

• Ensure Legal and Regulatory Compliance by enforcing compliance with NCYBF’s overall policies, good practice standards, external donor requirements and national laws and regulations, identifying corrective measures as required.
• Maintain up to date knowledge of financial legislation and good practice to ensure that NCYBF complies with all legal requirements.
• Keep abreast of changes in financial regulations and legislation and participate in financials and regulatory reporting submissions (e.g. filing of annual income tax returns, PAYE, NSSF, WHT remittances, etc.)

Qualifications:·         

Bachelor’s degree in Accounting, Finance, or related field      

At least 3 years of progressively responsible experience in financial management, with at least 1 year in a nonprofit organization·

 Advanced knowledge and hands-on experience in using Spreadsheets particularly MS Excel, QuickBooks or any financial management soft wares

Knowledge of tax and other compliance implications of non-profit status

Proven track record of successful financial management, including experience developing and implementing financial strategies, managing budgets, and overseeing financial reporting and compliance. 

Strong leadership and management skills, with experience building and leading high-performing teams·         Excellent analytical, problem-solving, and decision-making skills.

Strong communication and interpersonal skills, with the ability to communicate financial information to non-financial stakeholders.

 Passion for the mission and work of the organization.

SUBMISSION TERMS:

Applications must be submitted not later than 21/11/2024 at 5:59pm via the Nakuru County Youth Bunge communications email – info@nakuruybunge.org/    

NOTE: Nakuru County Youth Bunge Forum is an equal opportunity employer. Youth below 35 years are highly encouraged to to apply.