Project Accountant at Association for Reproductive and Family Health (ARFH)

Purpose of the Position:

• The Project Accountant is responsible for maintaining accurate financial records, ensuring compliance with financial policies, and providing timely financial reporting for the project. The role supports the project team by ensuring budgetary control, preparing financial analysis, and coordinating with internal and external stakeholders to ensure effective financial management.

Specific Responsibilities

Key Responsibilities:

Financial Management and Accounting

• Ensure that all financial transactions for the project are recorded accurately, promptly, and in compliance with the organization’s financial policies and relevant regulations.
• Process and maintain complete records of all invoices, receipts, disbursements, and related financial documents.
• Manage payroll processing and benefits calculation for project staff in line with organizational policies.
• Reconcile project accounts monthly and prepare detailed financial reports.

Budgeting and Forecasting

• Assist in developing the project budget in collaboration with the project team.
• Monitor the project budget, track actual expenditure against planned expenditure, and analyze any variances.
• Update budget forecasts based on project progress, anticipated future expenses, and any revisions to project plans.
• Provide regular updates on budget utilization and projections to the Project Manager and other relevant stakeholders.

Financial Reporting and Analysis

• Prepare monthly, quarterly, and annual financial reports for the project, including income and expenditure statements, budget variance reports, and cash flow statements.
• Ensure timely submission of financial reports to management and donors as required.
• Provide financial analysis to support decision-making, including analysis of expenditure trends, cost-benefit assessments, and projections.

Compliance and Audit

• Ensure compliance with donor requirements, organizational policies, and relevant laws and regulations.
• Maintain thorough documentation for audit trails, ensuring all financial records and supporting documents are organized and accessible.
• Coordinate with external and internal auditors during financial audits, provide required documentation, and assist in resolving any issues or queries.
• Identify potential financial and compliance risks and propose solutions to mitigate these risks.

Cash Flow Management and Banking

• Monitor cash flow to ensure adequate funds for ongoing project activities.
• Manage bank accounts related to the project, including regular reconciliations.
• Prepare and process funds transfers, advances, and reconciliations in a timely and secure manner.

Support and Capacity Building

• Provide guidance and training to project team members on budgeting, expense tracking, and financial policies.
• Work with other departments to ensure all financial policies and procedures are well understood and followed.
• Participate in financial management workshops, training, and seminars as needed to enhance skills and knowledge.

Required Experience

Required Qualifications and Experience:

• Bachelor’s degree in Accounting, Finance, or related field (Master’s degree or relevant professional certification like CPA, ACCA preferred).
• Minimum of 5 years of experience in project accounting or financial management, preferably within a non-profit or development project setting.
• Strong knowledge of accounting software and ERP systems (e.g., QuickBooks, SAP).
• Proficiency in budgeting, financial analysis, and reporting.
• Experience in donor-funded projects, with knowledge of donor financial regulations and compliance requirements.

Skills and Competencies:

• Excellent analytical skills and attention to detail.
• Strong organizational and time-management abilities.
• Good communication skills, with the ability to explain financial information clearly to non-finance team members.
• Proficiency in MS Office, particularly Excel, for financial reporting and analysis.
• Integrity and high ethical standards in managing sensitive financial information.

Deliverables:

• Accurate and timely financial reports (monthly, quarterly, annual).
• Updated and balanced budget forecasts and actuals.
• Successful audit with minimal findings.
• Regular financial analysis reports and risk assessments for decision-making.

Performance Evaluation:

Performance will be evaluated annually by the Project Manager/Finance Manager based on:

• Quality and timeliness of financial reporting.
• Accuracy in budget monitoring and expenditure tracking.
• Adherence to compliance and audit requirements.
• Effective cash flow management and financial forecasting

Minimum Qualifications

• This ToR provides a framework for the Project Accountant’s responsibilities and expected deliverables within the project’s financial management structure. Adjustments to this ToR may be made as necessary, based on project needs and organizational requirements.