Head of Finance

BRAC Maendeleo Tanzania

About BRAC

BRAC is an award-winning international non-governmental development organisation, with the vision of a world free from all forms of exploitation and discrimination, where everyone has the opportunity to realize their potential. BRAC is a leader in developing and implementing cost effective, evidence-based programmes to assist poor and disadvantaged communities in low income countries, including in conflict- prone and post-disaster settings. It is an organisation of and for the people of the Global South, pioneering new development and social enterprise approaches to equip communities to achieve prosperity. BRAC Maendeleo Tanzania is part of a leading development organization that started its operations in 2006 in Tanzania, focusing on thematic areas of Agriculture, Youth and Women Empowerment, Food Security and Livelihood.

About the Programme

The MasterCard Foundation in partnership with BRAC International (BI) is implementing an initiative that will create a positive and measurable impact for 1.2 million adolescent girls and young women and 9.5 million people across seven countries in East and West Africa.

Purpose of the Job

The Head of Finance will be responsible for ensuring the effective and efficient management of financial operations at the Country Office. This role will involve overseeing financial systems, ensuring compliance with regulations, providing financial guidance and support, and coordinating with regional and head offices. The Head of Finance will play a crucial role in supporting informed decision-making and ensuring the financial sustainability of the Country Office.

Responsibilities

1. Oversee the Overall Accounting and Finance Processes of the Country Operation:
   • Lead the finance and accounting functions, ensuring effective financial management across the country office.
   • Maintain robust financial controls to safeguard the organization’s assets and ensure compliance with policies and procedures.
   • Manage all financial operations including payroll, accounts payable, accounts receivable, and cash management.
2. Ensure Project-wise Accounts Recording, Reporting, Cost Allocation, and Recovery:
   • Ensure accurate and timely recording of financial transactions for all projects within the country.
   • Oversee the allocation of costs to appropriate projects, ensuring compliance with project agreements and financial standards.
   • Monitor project financial performance and ensure effective recovery of project costs.
3. Supervise the Monthly Accounts Closing and Deliverables to Head Office Finance:
   • Lead the month-end closing process, ensuring the timely and accurate submission of financial reports to the Head Office.
   • Review all financial data to ensure completeness, accuracy, and compliance with accounting standards.
   • Ensure the timely preparation and submission of financial deliverables to support consolidated reporting.
4. Ensure Proper Reconciliations of Bank Accounts, Intercompany Transactions, and Accruals:
   • Oversee the reconciliation of bank accounts, ensuring discrepancies are identified and resolved promptly.
   • Manage the reconciliation of intercompany transactions, ensuring alignment between the country office and other entities.
   • Ensure timely and accurate accruals to reflect the financial position of the country office.
5. Provide Strategic Level Support for Country-Level Decision Making:
   • Provide financial insights and analysis to the Country Director and senior management team to support strategic decision-making.
   • Participate in the development of the country’s financial strategy, including risk management and sustainability planning.
   • Contribute to long-term planning and forecasting to ensure the financial sustainability of the country office.
6. Annual Budgeting and Periodic Variance Analysis:
   • Lead the development of the annual budget as well as any other financial plans & forecasts, working closely with program and operations teams.
   • Conduct periodic financial reviews and variance analysis to ensure alignment with the budget and provide explanations for deviations.
   • Collaborate with department heads to implement corrective actions where necessary.
7. External Audit Coordination and Timely Completion:
   • Serve as the primary point of contact for external auditors, ensuring the smooth execution of the audit process.
   • Prepare all required documentation and financial statements for audits, ensuring compliance with local and international accounting standards.
   • Address audit findings and recommendations, implementing corrective actions as needed.
8. Regulatory and Tax Affairs:
   • Ensure compliance with all regulatory and tax requirements in the country, including timely submission of tax returns and other filings.
   • Liaise with government agencies and regulatory bodies to resolve any tax or regulatory issues.
   • Monitor changes in local laws and regulations and assess their impact on the country office’s financial operations.
9. Project Donor Financial Reporting:
   • Ensure the accurate and timely preparation of financial reports for donors, in accordance with donor agreements and requirements.
   • Monitor project budgets to ensure funds are being spent in accordance with donor agreements and project plans.
   • Coordinate with program teams to ensure alignment between financial reporting and programmatic deliverables.
10. Any other activities related to finance assigned by the management.

Educational Requirements

• Masters / MBA in Finance, Accounts or related subjects
• Must have Professional certification such as ACPA (T) or ACCA & CIMA

Required Experience

• Minimum of 8-10 years of progressive leadership experience in finance and accounting, ideally within a complex international NGO.
• Demonstrated ability to develop and implement strategic financial plans, budgets, and forecasts.
• In-depth knowledge of financial management principles, including accounting standards, budgeting, forecasting, and risk management.
• Proven experience in managing grants, ensuring compliance with donor regulations, and maximizing grant utilization.
• Proven ability to lead and mentor high-performing finance teams, fostering a positive and collaborative work environment.
• Strong interpersonal and communication skills to effectively engage with diverse stakeholders, including donors, partners, and internal teams.
• Experience in implementing and improving financial systems and processes, including ERP systems.

Skills and Competencies

• In-depth knowledge of IAS/IFRS, Accounting, Budgeting, Finance, Auditing, Tax, VAT, and Fiscal Laws.
• Strong understanding of international auditing standards.
• Proficient in relevant software applications.
• Excellent communication and presentation skills.
• Dedicated to delivering high-quality work and committed to upholding the highest professional standards.
• Ability to work effectively under pressure and in a dynamic environment.
• Works effectively in diverse teams, fosters positive relationships, and is committed to achieving shared goals.
• Fluency in English.

Application Instructions

Candidate needs to email their CV with a letter of interest mentioning educational grades, years of experience, current and expected salary to: bimcf.tanzania@brac.or.tz

Please mention the name of the position in the subject bar. Only complete applications will be accepted and shortlisted candidates will be contacted. Application deadline: 2024-12-08