|Location||Addis Ababa, Ethiopia|
|Date Posted||April 7, 2020|
|Category|| Accounting |
|Job Type|| Full-time |
Meklit Microfinance Institution S.C is a transformed Commercial Microfinance institution S.C initially established according to proclamation no. 626/2009 issued by National Bank Of Ethiopia to provide financial and non-financial services to Medium, Small Enterprise and the low income people, particularly women, youth at both urban and rural areas of Ethiopia.
Meklit MFI is currently looking for Competent Candidates for the vacant position of Finance & Administration Department Manager. The successful candidates need to have skills and experience that meet the following requirements:
Summary of Duties and Responsibilities of the post: He/she is responsible to Plans, Organize, Direct, Coordinates and Supervise the Finance& Administration activities of the Institution. Establishes and maintains policies and procedures for financial and other matters relating to the effective development of finance of the institution and directs the execution of the same. Develops, proposes and when approved installs effective systems and procedures of financial acquisition and utilization, planning financial development, control…. etc.
Specific Duties and Responsibilities
- Plans, organizes, leads, coordinates and controls all the financial resources of the Company;
- Proposes, designs and develops appropriate financial management system of the Company;
- Designs and uses sound internal control system to safe guard assets, records and documents of the Company;
- Supervises and checks all financial activities including payments, cash flow, transfers of funds, payroll, controlling cash and other current accounts, bank reconciliation statements, liabilities, etc., for correctness;
- Ascertains that payments are made as per approved budget line items;
- Ensures that required documentation and authorization is present to effect a payment;
- Identifies sources and generates funds when the Company runs short of funds and makes all possible efforts to invest idle funds in a profitable business;
- Assesses the financial requirement of each Branches and allocates funds accordingly and follows up its utilization;
- Establishes proper financial Management Systems that can provide: accurate, current and complete disclosure of financial transactions, records that identify source and application of funds in accordance with internationally accepted accounting principles;
- Establishes complete financial accounting system comprising: each receipt, cash disbursement, petty cash, general journal, payroll, per-diem and various transactions register books for cheques, property, etc.;
- Certifies correctness of payment vouchers and signs cheques, certifies the correctness of petty cash payment vouchers, petty cash report and request, petty cash analysis sheets and posting summery, and payroll correctness;
- Approves all journal vouchers and bank reconciliation and follows up outstanding items and timely collection or receivables;
- Closely monitors loans provided to clients, collections made, uncollected balances, ages of uncollected balances from clients in each Branch and gives his/her recommendation on it and bad debts.
- Prepares budget guidelines that can be used to develop budgets;
- Prepares the annual budgets of the Company and conducts periodic (monthly, quarterly, etc.) budget reviews and reports findings;
- Based on the major objectives and targets set, studies and prepares financial plans of the Company;
- Forecasts cash collections and disbursements and ensures the availability of sufficient fund to cover different payments;
- Ensures HO, Area Office and Branch expenditures are within the budget line and monitors their utilization;
- Prepares Cash Forecast, and facilitates the transfer of monthly cash requirement of Meklit;
- Ensures timely deposit of all collections;
- Supervises the preparation of monthly bank reconciliation statements.
- Retains, trains, and coaches the staff responsible to him/her
- Completers all performance management activities including; performance planning, monitoring, and annual performance appraisals of staff reporting to him/her
- Maintains sound employee admiration of the Department for better output with major emphasis to motivation, training and performance appraisal.
- Analyzes financial statements and other related reports to identify problem of Branches, takes remedial action where necessary and makes appropriate recommendations to the Managing Director.
- Oversees the monitoring of actual expenses against the budget and report to the Managing Director.
- Prepares annual financial statements and detailed analysis and its interpretations to the Management.
- Facilitates internal and external audit undertakings and prepares responses to audit findings and follows-up the implementation of audit recommendations;
- Keeps up to date with developments in the industry, including best practice example in-country and internationally, and ensure on-going personal development and learning:
- Produces quarterly, semi-annual and annual reports and submit to the Managing Director
- Advises the Managing Director, Department Managers, Service heads, area offices and Branches on financial matter.
- Performs other duties as assigned by Managing Director.
- MBA/MA/BA Degree in Accounting, banking & Finance or related field
- 6/8 years or more of relevant Experience preferably in Microfinance Institutions is an asset
Places of Registration: Addis Ababa, Bole sub-city at our Head Office On Degol Building 1st floor where Buna International BankUrael Branch Located just nearby Amen Building on Road way from Atlas Hotel to st. Urael Church.
Interested applicants who fulfill the above requirements are invited to submit their CV along with non-returnable credentials within Ten (10) working days from the date of this announcement to the respective mentioned registration places of the institution and the email indicated above.