Job Description:
Position Summary:
Busara’s Director of Finance is a key advisor to senior management through financial planning, analysis, and management of the accounting function.
The Director analyzes Busara’s financial performance, manages finance related risk, and is responsible for managing any financing Busara leverages to fund its day to day operations.
Based in our main office in Nairobi, the Director monitors Busara’s financial position, acting swiftly to address risks (legal, financial, fraud, etc.).
The Director also oversees Busara’s Finance and Accounting team, which manages accounting and finance for Busara globally.
The role involves direct management of the Nairobi-based team of three as well as one US based consultant accountant.
Additionally, the Director will formalize Busara’s accounting and financial policies. This will ensure that all relevant laws and regulations in all countries of operation are understood and adhered to.
We are looking for a high-capacity, action-oriented individual with senior finance experience who is keen to capitalize on that experience to help Busara continue growing our high-performing organization.
Core Responsibilities
Financial planning and risk management
Maintain constant awareness of the company’s financial position and act swiftly to prevent and address problems. This includes monitoring of:
Cash position,
Budget vs actuals for all projects, and
Net income.
Conduct financial analysis to make forecasts, report to senior management, and advise on our business model
Assess and manage financial risks, including foreign exchange (through hedging, physical location of cash management, etc.)
Drive the quarterly and annual budgeting process throughout the organization, following up by monitoring expenses and developing systems to detect variances
Support good corporate governance with respect to finance to ensure the long term success of the organization
Support development of a corporate fundraising strategy and manage relationships with financial stakeholders
Audit, internal controls, and compliance
Responsible for all areas of corporate financial compliance, including tax, legal entity, local governance, debt covenants, etc.
Oversee all audit and internal control operations, ensuring strict financial controls are in place and adhered to
Coordinate all external audits, delegating responsibilities to designated team members in each country office
Maintain up to date knowledge of financial regulations and relevant laws in all jurisdictions where Busara works
Ensure compliance with US nonprofit reporting requirements, USAID grant requirements (either directly or through oversight of staff), and all taxes and statutory payments
Cash management
Secure and manage any necessary financing (e.g., loans or other financing instruments)
Manage foreign currency transfers between entities, optimizing in order to save money
Oversee global cash management, delegating day to day responsibility to the Finance Manager
Set and manage cash reserve requirements and policies
Set up the tools and reporting Busara needs to access debt facilities and other types of financing
Strong oversight of Accounts Payable and Receivable
Oversee the Finance department to responsibly and efficiently issue a high workload of payments, often up to a few hundred per day
Manage the Finance team to tightly administer Accounts Receivable, continuously reducing the amount of time from invoice to payment by Busara’s clients
Accounting
Automate the monthly close process
Oversee Busara’s finance IT systems, including:
NetSuite, our accounting system
An internally developed requests and approval system
An internally developed mobile money payments platform
Reporting
Prepare quarterly and monthly financial reports and projections for Busara senior management, including:
Profit and loss by project, Engagement Director, cost center, etc.
Total sales per quarter
Actuals against budget for all projects and teams (and provide tools that help teams develop, track, and follow up on their projects)
Custom reports and analysis to help provide visibility into spending, what makes a profitable project, etc.
Requirements
An advanced degree in business, economics, finance, or a related field (MBA preferable)
Accounting qualification (CPA, CPA(K), ACCA, CA or equivalent)
Deep knowledge of standard accounting principles (GAAP, IFRS, etc.)
5+ years of finance and management experience, preferably with prior experience as a Director of Finance
Financial modeling and advanced Excel skills
Experience with consolidations and NetSuite highly preferrable
Prior professional experience in East Africa preferable
Ability to anticipate workload and prioritize team workflow and deliverables
Strong analytical skills with strategic abilities and an entrepreneurial mindset
Excellent organizational and leadership skills
Outstanding communication and interpersonal abilities
Self-motivated, with a desire for continual learning
