Finance Director

917

DEPARTMENT: ADMINISTRATION  SECTION

 JOB  TITLE :  FINANCE  DIRECTOR

GRADE :   J (M340,  632.00  p.a.  —  M405,  024.00  p.a.)
NO  OF  POSTS:  ONE  (1)
LOCATION: MASERU

RESPONSIBLE  TO: CHIEF  ACCOUNTING  OFFICER

MAIN  PURPOSE  OF  THE  JOB

Under  the  general  supervision  of  the  Chief  Accounting  Officer  the  incumbent  is  responsible for  managing  and  controlling  expenditure,  overseeing  revenue  collection,  managing  and controlling  of   cash,  consolidating  annual  budget  estimates  and  preparing  annual  financial statements  for  the  Ministry  and  for  submission  of  the  same  to  the  treasury  for  purposes  of consolidation.  He/she  is  responsible  for  supervising  the  accounting  staff  and  for  managing  the payment  cycle.  The  incumbent  also  acts  as  the  key  advisor  on  financial  management  at  the Ministry.

MAIN  DUTIES

1. To  participate,  as  may  be  required  from  time  to  time,  in  reviewing  and  analysing  the  laws,  regulations  and  policies

1.1  Reviews  the  existing  laws  and  policies  against  the  present  situation  to  identify  areas  that
               require  improvements.

1.2 Analyses  information  obtained  and  makes  changes  to  the  laws  and  policies.

1.3  Undertakes  consultations  with  relevant  stakeholders  to  discuss  and  agree  on  changes.

1.4   Finalises  the  changes  and  submit  for  consideration  and  approval.

1.5 Submits  to  the  Law  Office  to  draft  the  laws.

2.  To administer  implementation  of  financial  laws,  policies,  guidelines,  procedures  and standards

2.1  Conducts  meetings  with  management  and  staff  to  inform  them  about  financial  laws, policies,  guidelines,  procedures  and  standards

2.2  Monitors  the  Ministry’s  financial  operations  to  ensure  adherence  to  financial  laws, policies,  guidelines,  procedures  and  standards

2.3 Provides advice on financial issues

2.4  Provides  feedback  on  implementation  of  financial  laws,  policies,  guidelines,  procedures and  standards

3.  To  oversee  implementation  of  systems,  procedures  and  controls  to  enhance  the financial  service  delivery

3.1 Identifies areas of concern and recommends measures for improvement

3.2   Establishes the internal controls and ensures that they are followed

3.3  Participates  in  integration  and  implementation  of  systems  and  processes.

4.  To coordinate the development of the Ministerial budget

4.1 Advises on the preparation of the Budget Framework Paper

4.2   Coordinates preparation and consolidates budget estimates

4.3   Oversees the recording of the Estimates into the system

4.4 Runs and reviews budget reports

4.5   Reports on the financial performance against the budget regularly

4.5 Advises on Ministerial budget requirements in budget discussions

5.  To coordinate preparation of Cash Flow Forecast

5.1  Initiates  preparation  of  cash  flow  forecast  based  on  approved  estimates  to support  the release  of  warrant  through  the  system

5.2 Submits forecast to the Chief Accounting officer for approval

5.3  Submits  approved  forecast  to  the  Budget  Office  and  Treasury  department for  warrant release  and  monitoring  of  cash  respectively.

6.  To oversee management of warrants and funds

6.1 Facilitates   distribution of approved warrant

6.2   Facilitates  allocation  of  approved  warrant  to  items  based  on  the  cash  flow  forecast

6.3   Withdraws  funds  from  and  reallocates  funds  to  items  where  funds  are  insufficient

6.4  Applies  for  Budget  reallocation  virement  where  there  is  insufficient  Budget

7.  To oversee management of payment processes  and  revenue  collection

7.1  Establishes  control  measures  to  enforce  compliance  with  Treasury  Regulations  and  other relevant  pieces  of  legislation

7.2  Monitors  timely  payments

7.3   Administers  custody  of  trust  monies

7.4  Monitors  collection  and  banking  of  Revenue

8.  To  oversee  reconciliation  of  expenditure  and  revenue

8.1  Reviews  the  trial  balance  report

8.2   Monitors  reconciliation  of  payables  and  receivables  with  general  Ledger

8.3   Requests  approval  for  processing  of  journal  entries  to  make  adjustments

8.4  Runs  a  reconciliation  report  and  submits  to  the  Chief  Accounting  Officer  for  approval  and then  to  the  Treasury  Department

9.  To  oversee  preparation  of  financial  statements  and  reports

9.1  Monitors  preparation  of  monthly,  quarterly  and  annual  financial  statements  and  reports  to the   Chief  Accounting  Officer  for  approval.

9.2  Submits  monthly,  quarterly  and  annual  financial  statements  and  reports  to  all  stakeholders

10.  To  administer  provision  of  custody  and  control  of  all  accountable  documents

10.1  Puts  in  place  measures  for  safeguarding  accountable  documents

10.2   Manages  procurement  and  distribution  of  accountable  documents

10.3  Establishes  procedures  and  systems  to  maintain  stock  levels  and  disposal  of  accountable documents

11.  To  provide  strategic  leadership  and  management

11.1  Advises  the  Chief  Accounting  Officer  on  efficient  use  of  financial  resources  to  achieve optimum  output

11.2  Advises  the  Accountant  General  on  operating  systems  for  improving  financial  efficiency

11.3  Oversees  development  and  implementation  of  sectional  annual  operational  plan.

11.4 Reinforces  team  building  in  implementation  of  departmental  plans.

11.5  Holds  regular  meetings  with  staff  to  facilitate  planning  and  reporting  on  financial activities.

11.6  Conducts  annual  performance  appraisals  on  individual  supervisees  to  assess  their performance  against  the  set  standards  and  to  identify  training  and  development  needs.

11.7 Oversees  preparation  and  implementation  of  sectional  budget.

11.8 Maintains  discipline  amongst  the  accounting  staff.

JOB SPECIFICATIONS

Education and Training

Chartered  Accountant/Master’s  Degree  in  Accounting/Finance/Financial  Management  plus  4 years  working  experience  at  a  managerial  position  in  accounting  and  finance  environment

OR

General  Accounting/CIPFA  Advanced  Diploma/Bachelor’s  Degree  in  Accounting/Business Administration/CIS  plus  CIPFA  Diploma  plus  5  years  working  experience  at  managerial position  in  accounting  and  finance  environment

NB:  Must  be  a  member  of  a  recognised  Accounting  or  Finance  Professional  Body.

Other  Relevant  Knowledge

•       Knowledge  of  Public  Sector  Accounting  is  an  added  advantage.

•       Familiarity  with  the  Public  Finance  and  Accountability  Act  2011  and  related  regulations is  an  added  advantage.

•  Knowledge  of  Generally  Accepted  Accounting  Practice,  especially  the  International Public  Sector  Accounting  Standards  or  International  Financial  Reporting  Standards,  is essential.

•       Computer  literacy  is  a  must.

•       Familiarity  with  IFMIS  operations  or  any  computerized  accounting  system  is  an  added advantage.

Personal  Competencies

•    Ability  to  work  with  colleagues  from  varying  backgrounds.

•    Strong  analytical,  problem  solving  and  conceptual  skills.

•   Solution  and  results  focused.

•  Ability  to  work  under  pressure  and  deliver  results  within  strict  deadlines.

•    Attention  to  details  and  time  conscious.

Other  competencies Applicants  must  pass  a  competency  assessment  test.

Applications  on  relevant  forms  G.P.  104  for  serving  officers  and  G.P.  103  for  job  seekers (duly  accompanied  by  certified  copies  of  educational  certificates,  transcripts  and appropriately  filled  Performance  Appraisal  Forms  for  serving  officers)  should  be addressed  to:

Ministry  of  Public  Works

P.  0.  Box  20

Maseru  100

Not later than 31st October 2021

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