Posted on :
16 Feb, 2022
16 Feb, 2022
NACOSA is looking for a suitably qualified candidate for the position of Finance Officer. The successful incumbent will be responsible for administering financial records and preparing information for donor reporting. The Finance Officer will ensure compliance of donor requirements, the role will also closely monitor sub-recipients financial reports, governance structures and internal controls, providing mentoring and capacity building interventions to strengthen the recipient partners control environment.
Job Title: Finance Officer
Location: Century City, Western Cape, South Africa
Reference #: FO-202202
Contract Type: Contract
Salary: Market Related
The position will support the USAID Finance Manager in administering financial records and preparing information for donor reporting. To ensure compliance of donor requirements, the role will also closely monitor sub-recipients financial reports, governance structures and internal controls, providing mentoring and capacity building interventions to strengthen the recipient partners control environment.
Sub-Recipient Management and quality assurance processes
Regular assessment of the governance and financial environments and internal controls of sub-recipients. Recommend practical solutions for the sub-recipient and monitoring that the recommendations are being implemented.
Maintaining a database of sub-recipient financial reports, including but not limited to:
Date and completeness when a report is received.
Communicating with all stakeholders (sub-recipient, financial manager and programme manager) regarding late and incomplete submissions.
Date and validity when a report has been reviewed.
Communicating with all stakeholders (sub-recipient, financial manager and programme manager) regarding ineligible expenses, financial risks and other matters identified.
Perform procedures to provide assurance that expenditure claims by sub-recipients are valid and accurate, with attention to:
Analysing budgeted expenditure versus actual expenditure;
Substantive procedures on a sample of reported expenditure;
Maintain the asset and consumable registers
Prepare a report of findings to be communicated to management of NACOSA and the sub-recipient
Monitor compliance of the donor requirement relating to the use of a dedicated donor bank account. Prepare relevant bank reconciliations to ensure that any inter-account transfers are done timeously.
Prepare a payment requisition with supporting evidence, including a calculation of the next advance to fund the sub-recipient for the following month(s).
Meet with the programme team to discuss performance (compare finance vs. outcomes) and any finance findings that could impact on performance and/or escalated by the programme specialist.
Provide written feedback to the sub-recipient relating to the report that was received and any findings need to be clearly communicated with recommendations.
Monitor the grant conditions (e.g. compliance with audit requirements, reporting deadlines)
Maintain permanent files for each sub-recipient, containing the contract, budget, bank details and any changes etc.
Maintain fixed asset registers of each sub-recipient for additions / disposals and perform on-site verifications
Mentoring and Training:
To identify and recommend sub-recipients and/or topics that require mentoring and training.
Prepare a mentoring and training plan for sub-recipients where weaknesses have been identified via assessments, monthly reviews or other sources.
Monitor adherence to the mentoring / training plan and to communicate feedback on progress.
Provide on-site and off-site support to the sub-recipients in the form of training, mentoring and capacity building.
Use an accounting package (e.g. QuickBooks / Pastel) and Sub-Recipient MS Excel financial reports to prepare and initiate disbursements for approval;
Use an accounting package (e.g. QuickBooks / Pastel) to record disbursements to SRs and expenditure reported;
Prepare management, donor & audit reports to assist with reconciliations, expense analysis & budget monitoring and preparation as well as the monitoring of receivables, prepaid and payable accounts;
Prepare adjusting entries with appropriate supporting documentation, as necessary;
Assist with monthly and fiscal year-end closing including revaluations, accruals and adjustments for foreign exchange differences as necessary.
Audit and other:
Assist with requests for information by management, auditors, and donors;
To provide recommendations to improve existing work processes;
Assist with the development of finance training manuals, presentations and guidelines
Conduct internal audit / compliance visits at selected sub-recipients
Perform close-out procedures on sub-recipients where the grant agreement has ended
Non-negotiable: Bachelor’s degree in accounting or related field
Non-negotiable: Minimum of 3 years’ experience in auditing/accounting/finance
Non-negotiable: Proficiency in Microsoft Office Suite (especially MS Excel)
Fluent in written and spoken English
SAICA or SAIPA articles will be highly advantageous
Non-profit experience will be preferable but is not mandatory
Practical experience working with audit and/or accounting software (e.g. Caseware, SAGE, Quickbooks)
Proven experience in mentoring and training
Ability to work with minimal supervision
Domestic travel is required – estimated 10%
Initially more travel may be required to establish the sites, once established, on-site travel should reduce as monitoring activities can mostly be performed from Cape Town
Application Deadline: 27/02/2022
•Only short-listed candidates will be contacted. If you have not been contacted within 2 weeks consider your application as unsuccessful. NACOSA reserves the right not to make any appointment in this position.
•NACOSA respects the privacy of its stakeholders and will treat all personal information provided in line with our recruitment policy and in accordance with the Protection of Personal Information Act.