Finance & Risk Controller

Background

FSD Africa is a non-profit company, funded by the UK’s Department for International Development (DFID), which aims to increase prosperity, create jobs and reduce poverty by bringing about a transformation in financial markets in sub-Saharan Africa (SSA) and in the economies they serve.  It provides technical know-how and capital to champions of change whose ideas, influence and actions will make finance more useful to Africans businesses and households.  It acts as a market catalyst, adopting the “making markets work for the poor (M4P)” approach.

Excluding FSD Africa there are 10 members of the FSD Network [1].  They are linked by the fact that they all have/have had funding from DFID and share similar goals around financial market development, but they have different funding and governance arrangements.

Besides its work with the FSD Network, FSD Africa’s work can be said to focus on five main areas:

  • Financial Systems: Interventions in priority sectors, designed to increase access to finance to empower and reduce the vulnerability of the poor.
  • Financial Markets: Interventions designed to spur poverty reduction through economic growth and job creation by increasing the availability of long term finance for investment
  • Financial Institutions: Direct interventions with financial institutions to support implementation of strategies that reach large numbers of beneficiaries, especially through technology-led innovation
  • Development Capital: Investment of concessional capital (equity, loans etc.) into financial companies, funds or other structures (e.g. guarantee schemes) where the investment is expected to contribute meaningfully to financial market development
  • Fragile states: Interventions targeting a group of fragile states (Sierra Leone, DRC and Zimbabwe) and refugees in order to push the boundaries of the market development into more difficult environments.

FSD Africa is a Kenyan Company Limited by Guarantee. It has a Board of nine Directors, whose profiles can be downloaded from the website (www.fsdafrica.org).

The role

The role plays a critical role in managing FSDA’s exposure to risk primarily by developing, updating, monitoring and managing the risk management framework; liaising with the Finance, Audit & Risk Committee of the Board to ensure compliance with the organisation’s risk policy.

Closely related to the above, the role will ensure that FSDA’s investment and grant management systems and reports are rigorous, of high quality and under constant assessment. The role will also ensure an appropriate balance between effective risk management and the provision of timely services to staff and implementing partners.

The role will work alongside other members of the administrative team and outsourced providers to ensure seamless financial administration and accounting services. The role will ensure that staff in the team are capable of delivering the financial management services and that staff in the wider organisation are aware of and trained in financial systems and requirements.  A key aspect is to put in place systems to guard against and detect fraud.

Additionally, the role will be responsible for carrying out high level analysis of FSDA’s financial data in order to monitor financial performance and provide support to decision makers; aiming to support the achievement of value for money, maximising the efficiency and effectiveness of the organisation

Location

The role is based in Nairobi, Kenya.

Key responsibilities and role requirements

The Finance & Risk Controller will ensure that FSD Africa’s investment and grant management systems and reports are of high quality. He/she will play a critical role in the management our exposure to risk.

Support the COO in ensuring the financial viability and sustainability of FSD Africa; particularly by providing analysis & advice to support financial decision making by senior management.

  • Develop a deep understanding of the drivers of FSD Africa’s financial performance to inform critical analysis of all aspects of our business models and investment activities; provide advice as required to senior staff and to the Monitoring and Results Measurement team
  • Work together with the COO to develop and implement FSDA’s financial performance management system
  • Manage the generation of financial information & analysis that will inform meaningful financial decision making by Project Managers and Pillar Heads; oversee the production of financial statements
  • Act as point person for all audit activities; supporting the Board to appoint the external auditor and facilitating effective engagement of the FSDA team with the process

Oversee compliance with FSDA’s Risk Policy and embed risk mitigation within all of FSDA’s activities; ensure all aspects of risk are considered and recorded in the strategic risk register and project risk assessments, and constantly acted upon

  • Support the practical implementation of the strategic requirement to take on significantly more risk in pursuit of market transformation
  • Take the lead in identifying risks and advising management and the FARC of risks; ensuring that appropriate action is taken to mitigate the risks identified
  • Implement a programme of regular engagement with each pillar to ensure risks are monitored and the risk register is kept up to date
  • Review organisational risks across all of FSDA’s activities and ensure that effective risk management strategies are in place and adhered to
  • Safeguard FSDA’s financial resources by giving due consideration before signing approvals; whilst contributing towards efficiency with a quick turnaround time
  • Act as a role model and hold the team accountable for effective risk management
  • Provide reports on a regular basis to keep the Finance Audit & Risk Committee of the Board and Senior Management informed of risk management efforts; attend and contribute to FARC meetings as required

Support the development and implementation of budgets and financial plans that comprehensively support the implementation of FSDA’s work plans and the achievement of strategic objectives

  • Work closely with FSDA’s Director and COO throughout the annual business planning process to consolidate the annual budget and cash flow forecast for FSDA, showing estimated expenditure and funding requirements
  • Work with Pillar Heads to determine the financial implications of business and work plans; supporting the development of accurate short and long-term budgets and financial plans for programmes/projects
  • Support the Pillar Heads to develop and submit financial proposals to the IC and other development partners
  • Pro-actively manage FSDA’s liquidity position to ensure that FSDA has adequate funds to finance its operations at all times. Any projected shortfall must be brought to the attention of the COO and corrective action proposed

Oversee the activities of the contracted financial services providers; ensuring the sound use and management of organisational finances, following generally accepted accounting principles

  • Provide leadership to the contract service providers; ensuring that they fully understand expectations and supporting them to perform effectively
  • Oversee the day-to-day financial activities of the organisation, ensuring that incoming and outgoing funds are processed efficiently and according to best practise
  • Ensure that FSDA complies with all statutory requirements in all countries of operation
  • Ensure that the finance system operates correctly and is being used effectively by FSDA staff & implementing partners; recommend corrective action as required
  • Oversee financial record management, ensuring that effective systems for storage, retrieval, security and disposal of records are in place

Oversee the successful implementation of an ERP system that will enable sound financial management of grants and investments, while ensuring project management information is immediately accessible and available on the system

  • Ensure that assessments of financial capacity have been carried out for all of FSDA’s potential partners according to procedures for due diligence
  • Provide Pillar Heads with quality financial information and advice in order to aid their decision-making concerning partners
  • Oversee the disbursement of payments to implementing partners in accordance with FSDA’s policies & procedures
  • Ensure that all financial reports pertaining to grants and investments are made on time and accurately as per FSDA & Donor policy
  • Act as the systems administrator for the ERP system; contribute to the development of the system and lead the implementation and routine maintenance,

Carry out any other duties or special assignments as assigned by the management.

[1] In Kenya, Uganda, Rwanda, Tanzania, South Africa, Zambia, Mozambique, Nigeria, DRC and Ethiopia

For the detailed full job description, click here.  Candidates are invited to submit a one-page cover letter, together with maximum two-page curriculum vitae giving details of your qualifications and experience to recruitment@cedarconsulting.co.ke with “FSD Africa Finance & Risk Controller” in the subject line. The deadline for receipt of applications is 1200 EAT on 21 September 2018. Only shortlisted candidates will be contacted.

See all jobs