Finance Manager Job at Duma Works
We are recruiting a Finance Manager for our client; a leading international school in Kenya.
This position is responsible for the finance functions of the school.
- Exercise administrative control and oversight over the finance and accounting functions of the school
- Review and ensure policies and procedures are effectively implemented and complied with, and processes and practices updated for optimum operational impact
- Provide strategic support to Headmaster, and Board of Governors
- Assist in the development of long‐term organizational goals and objectives through the preparation of a Finance Strategic Plan complete with policies and procedures guidelines and apply the same for service improvement through measurement against key performance indicators
- Implement all recommendations from government regulatory bodies and internal & external audit reports based on agreements arrived at with BOD
- Supervise the Bursar, Accounts, Finance and Procurement staff.
- Formulate and implement sound finance and accounting policies, procedures and internal control systems to ensure adequate liquidity and ultimately an operating surplus
- Oversee finance and accounting functions in accordance with generally accepted accounting principles, financial policies and procedures and all other applicable laws, rules and guidelines
- Consolidate cost and revenue data to extract management information for financial decision making
- Provide accurate and timely periodic financial and other reports to the various stakeholders as per policy; prepare reports for management, BOG, auditors, regulators, government agencies and departments including for tax compliance purposes
- Examine, evaluate and implement cost-reduction strategies for efficient funds management
- Safeguard cash balances by overseeing all cash receipts and withdrawals
- Manage utilisation of the school’s funds according to established policies, plans and procedures. Carry out financial analysis using projection models and other financial tools, and disseminate the same to the internal and external users
- Conduct performance analysis through benchmarking of internal and external performance indicators to determine trends for financial planning; and advise BOG accordingly
- Prepare bank reconciliation to ensure accuracy of the Cash Book balance with ledgers and bank statements
- Liaise with bank on interest rates, changes in procedures and regulations and all matters pertaining to efficient management of school bank accounts and general finances
- Ensure the school does not suffer financial loss through fraud or error by ensuring assets are safeguarded, closely maintained and monitored by efficient internal control systems and accurate recording and safe custody of accountable documents
- Ensure that processes needed for the Quality Management System are established, implemented and maintained.
- Regularly monitor the working capital levels
- Evaluate industry performance indicators and report on their effect on businesses performance and/or profitability.
- Review and advise on investment proposals available on the market and suitable for the school
- Analyse the business’ financial and general operating information to identify trends and opportunities for development
- Review internal control procedures for continued suitability and effect appropriate changes accordingly
- Support BoG in negotiating/organizing special appeals and/or donor-funding support for capital projects and endowment funds, manage the balance between risk and return by maintaining a positive spread between the interest rates on earning assets and the interest cost of funds and implement policies and procedures to guide the management of the investment portfolios
- Manage the school’s advance composition fees scheme as approved by BOG and advise Headmaster and BOG on optimum scholarship and bursary funds level while undertaking assessments of parents’ income and assets prior to making bursary awards
- Maintain a documented system of accounting policies and procedures
- Manage outsourced functions
- Establish and Chair a tender committee to ensure procurement compliance; scrutinise and authorise payment of suppliers’ invoices based on policies and procedures
- Manage the school’s insurance covers for property and assets
- Lead the annual budgetary process in liaison with HOD’s and manage the Budget information system (e.g. spend to date; forecast to complete), ensuring services are delivered within the projected timeframe, and querying over-expenditure
- Report to management on variances from the established budget, and the reasons for those variances
- Assist management in the formulation of its overall strategic direction
- Bachelor’s Degree in Accounting or related field
- Must be CPA-K or ACCA
- Must be a member of ICPAK
- MBA (Finance) will be an added advantage
- Minimum of 12 years of experience in a similar position in a reputable organization
- Some experience of working in a school setting would be advantageous.
- Excellent analytical, diplomacy and communication skills
- Excellent financial management and entrepreneurial skills
- Excellent people leadership skills
- Good understanding of purchasing and audit operations
- Interpersonal sensitivity skills
- Planning and coordination skills
- Adequate knowledge on laws pertaining to income tax Act and Companies Act
How to Apply
To apply online click here or send your Cover Letter and detailed CV to email@example.com marking the subject as “3555”, Your Full name & Phone number e.g. 3555 Barack Obama, +2547xxxxxxxx. If you don’t follow these instructions, your application will not go through.
Deadline for receiving applications: Thursday, 7 February 2019