POSITION: FINANCE DIRECTOR
NUMBER OF POSITIONS: 1
REPORTING TO : CHIEF ACCOUNTING OFFICER
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.
- 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.
- 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
- 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.
- 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
- To coordinate preparation off 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.
- 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
- 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
- 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
- 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
- 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
- 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.
Education and Training
Chartered Accountant plus B. Com Accounting/Finance and three (3) years working experience at Senior Managerial level in Accounting or Finance environment.
Masters of Commerce with Accounting/Finance plus General Accountant/CIPFA Advanced Diploma
plus five (5) years working experience at Senior Managerial level in Accounting/Finance environment.
B.Com Accounting/Finance plus General Accountant/CIPFA Advanced Diploma with ten (10) years working experience at Senior Managerial level in Accounting/Finance environment.
N.B: The incumbent must be a member of a recognized Professional Accounting or Finance 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.
- 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.
Applicants must pass a competency assessment test.
HOW TO APPLY
NOTE: Chartered Institute Management Accountants (CIMA), Chartered Institute of Public Finance Accounting (CIPFA), Chartered Institutes of Secretaries (CIS), Chartered Public Accountants (CPA) and Association of Certified Chartered Accountants are accounting qualifications that should be recognized while recruiting.
All other accounting qualifications should be subjected to LIA for accreditation.
All candidates who apply for position at Grade H level and above will be subjected to assessment process as per Public Service Regulations of 2008- Division III section 24 (1).
All applications should be on relevant forms, GP 104 for serving officers, and GP 103 for job seekers, accompanied by certified copies of Educational Certificates, Marriage Certificates for married women, Transcripts, Performance Appraisals (for serving officers), Landlines or mobile phones for contacts.
Application forms are available at Ministry of Social Development — Human Resources Office and should be hand delivered to the same office.
The Principal Secretary
Ministry of Social Development
3rd Floor, Pension Fund House
Private Bag A222
Closing date 10th August, 2018