Finance Officer

Job Description

Job Description- Finance Officer

Position:      Finance Officer

Location:     Mogadishu Coordination Office

Reports to:    Finance Manager

Grade:         Band 5

Background

The Somali Red Crescent Society (SRCS) is an independent, non-political humanitarian organization that was founded in April 1963 and was established with presidential decree No. 187 in 1965. It was then recognized by the ICRC in 1969 and in the same year became a member of the International Federation of the Red Cross and the Red Crescent societies.

Job Summary

Participate in the planning and development of the financial plan and budget at the Coordination level that provides justification for financial resources needed to implement programme activities in line with strategic objectives. Provide specialized support in the day-to-day financial and accounting operations of the Branch by compiling and maintaining accurate records of financial transactions related to expenditure and also prepare regular reports in compliance with SRCS financial policies and regulations.

He/she should be familiar with audits, invoices and budget preparations. The ideal candidate demonstrates interest in managing accounting activities, including bank reconciliations, monitoring for expenditures. S/he should also have excellent organizational skills and be able to handle time-sensitive tasks.

Essential Duties and Responsibilities:

Programme Planning & Implementation

• Review banking arrangements to ensure timely transfer of operational funds
• Compile and check payment instructions to ensure calculations are correct and supported by accounting documents before posting details of financial transactions
• Verify all invoices, vouchers, receipts and supporting documents against specified expenditure requisitions and ensure payments are made against verifiable accounting documents
• Maintain complete records of all financial transactions such as payment vouchers, receipts and other documents in accordance with accounting procedures.
• Reconcile bank statements and check balances against verifiable documents
• Reconcile and balance accounts and prepare monthly expenditure returns
• Prepare timely month-end closure of accounts and including financial statements and reports
• Maintain proper filing system and preparing copies for all vouchers and support documents before submission to Finance Department. Filing financial documents  in the appropriate area and improve the accuracy of the filing system, retrieving document when it is requested, perform regular quality checks on the file system and Keep logs of document that is taken out.

Cash Management

• Direct cash management operation by reviewing cash position to ensure availability of funds for daily cash administration and disbursements
• Constantly review current accounts and bank transactions to ensure timely transfer of funds
• Maintain cash box, continuously track and prepare cash flow reports and also evaluate variances
• Verify validity of invoices, ensure proper level of approvals and make timely cash payments
• Timely and accurate reconciliation of cash applications and disbursements
• Monitor cash transactions and bank account balances and investigate any discrepancies
• Review and drive improvements in cash management, ensuring financial obligations are met in accordance with financial policies and procedures

Operations Management 

• Participate in capacity development and team building of staff on finance policies and procedures
• Respond to emergency requests and prepare ad-hoc budgets to facilitate programme operations
• Track bank deposits and payments
• Responsibilities include receiving payments and issuing receipts and keeping track of all cash and payment transactions.
• must ensure integrity and continuity of record keeping despite changes in office personnel
• standard procedures for disposal of obsolete records
• Copying, scanning, storing documents, checking for accuracy and editing files, like contracts
• Reviewing and updating technical documents (e.g. manuals and workflows)

Strategic Partnerships & Donor Relationships

Provide support to external auditors on a variety of technical accounting issues

• Participate in discussions with Bank officials on operational matters related to banking services
• expandability and flexibility to meet the needs of the office
• Participate in contract negotiations with suppliers, contractors and service providers
• Preparing ad-hoc and monthly financial reports on project as needed.
• Perform other related duties as assigned by the SRCS Finance Manager

Skills and Qualifications

Minimum Requirements for this Position:

• Bachelor’s degree or equivalent professional practice in Finance, Accounting, Business Administration or Economics
• Minimum 3 years relevant experience as a Finance Officer or similar rolein financial planning, budgeting, accounting, financial analysis, internal control, invoice and payroll processing, cash management, bank reconciliation, project accounting, and financial reporting
•  Proficiency in Spreadsheet and Database Packages
• CPA or ACCA part qualifications is a definite advantage
• Demonstrating consistency in upholding integrity and ethics with an ability to manage confidential data
• Solid knowledge of financial and accounting procedures
• Excellent analytical and numerical skills
• Strong communication and sharp time management skills
• Demonstrated knowledge and commitment to the fundamental principles of the Red Cross and Red Crescent Movement.

How to apply

Interested candidates should email their updated CV, cover letter, in one PDF, to hr.srcs@yahoo.com

Note: applications which do not meet the above requirements will not be considered. Only Shortlisted Candidates will be contacted. Please write the position you are applying on the subject line.

Posted Date 19th May 2024 Deadline for Applications: 25th  May , 2024.