Finance & Account Manager at Maryland Global Initiatives Corporation Nigeria (MGIC)

Department: Finance
Reports to: Director of Finance and Administration
Supervisory Responsibilities: Direct reports: All finance Staff.

Job Summary

• Under the direct supervision of the Director of Finance and administration, the FAM will manage the finance unit, ensuring that the organization has proper accounting, financial tracking and reporting systems in place and effectively manage all funding in accordance with MGIC, donor and GoN requirements.
• S/he ensures that financial resources are used appropriately with the highest degree of stewardship in furtherance of program goals and objectives. S/he ensures strong leadership, training, mentoring and guidance for finance staff.

Specific Responsibilities
Financial Management:

• Ensure that the MGIC financial accounting environment is in compliance with organization and donor policies and procedures, GAAP and local legal requirements.
• Ensure correct and timely monthly reconciliation of Cash Accounts, Cash in transit and Payables/ Receivables Accounts.
• Review monthly cost allocation calculations prior to posting.
• Prepare with finance staff and conduct regular analysis of the Trial Balance, the monthly General Ledger and Budget Comparison Reports, and other financial analysis reports.
• Submit timely and accurate monthly and yearly financial reports.
• Conduct bi annual reviews of financial systems using the Internal Control Questionnaire and correct any identified deficiencies.
• Closely monitor all financial activities that influence the organization or its partners’ efficiency and immediately report any suspected fraud or embezzlement of agency resources by staff or partners.
• Keep abreast of all tax, revenue and other GoN laws.

Cash Management & Forecasting:

• Supervise cash management processes and manage relationships with banking institutions.
• Coordinate, prepare and submit to the Cash Flow Forecast as required.
• Review and provide recommendations regarding opening/closing of bank accounts.
• Review bank reconciliation statements and take necessary follow up actions to correct discrepancies.
• Adhere to sound safe management procedures ensuring that all cash/cheque receipts and disbursements are tracked and reconciled daily.

Accounting:

• Maintain the QB financial database, including both budget and actual ledgers, ensuring that approved transactions are entered on a regular basis (at least weekly).
• Ensure that all asset, expense and liability accounts are updated regularly.
• Ensure that all revenue especially in-kind contributions are recorded accurately on a monthly basis.
• Verify cash disbursement vouchers, cash receipt vouchers and general journal vouchers for accuracy and completeness.
• Ensure an accurate, timely and complete QB month-end and year end closing processes.
• Serve as the primary liaison with Field Finance for accounting and financial issues.
• Maintain complete documentation for all finance transactions and issues.

Budgeting:

• Review project/program budgets and provide a final review before submitter.
• Review and verify all budget templates before upload into QB.
• Submit to HQ Finance new donor source number requests for external awards.

Grants Management:

• Prepare financial reports for management.
• Ensure timely and accurate closure of grants.
• Ensure monitoring of grants at expiration to ensure that all balance sheet items are fully reconciled and liquidated in QB.
• Ensure proper archiving of finance records.

Human Resources Management:

• Interpret and explain financial policies to staff
• Attend and participate in meetings, to provide timely updates and issues.
• Undertake the Performance Management Process with finance staff.
• Identify the performance needs for direct reports and propose appropriate training programs
• Participate in the recruitment process of finance staff.

Key Working Relationships:

• Internal: CD, DFA, HRM, GCM, HOP, Finance staff, HQ Finance Team
• External: Donor representatives, partner agencies, local government, banks and other commercial services

Qualifications

• Professional Accountancy qualifications or Master’s Degree
• Bachelor’s Degree in Accounting or its equivalent
• Minimum 5 (Five) or more years experience in a similar position with an international NGO
• Demonstrated familiarity with major public donor requirements (USG preferred), international accounting standards and/or US GAAP, auditing principles and procedures
• Knowledge of finance, accounting, and budgeting policies, procedures and standards preferred
• Advanced skills in QuickBooks
• Excellent written and oral communication skills
• Proven knowledge of standard software including Microsoft Word, Excel, Outlook, Power Point
• Demonstrated ability to work effectively under pressure and to organize and prioritize competing demands
• Able to work with a team and train/transfer skills to finance department
• Able to work independently.
• Ability to develop effective systems considering organizational effectiveness and impact on people.