Finance & Administration

TERMS OF REFERENCE (TOR)

1. Position Title Finance & Administration

2. Background

The Finance & Administration function plays an important role in ensuring sound financial management accurate accounting effective budgeting reliable financial reporting cash management and efficient administrative operations.

The Finance & Administration position will support the organization in maintaining accurate financial records monitoring budgets and expenditures managing financial transactions and cash maintaining appropriate financial controls and providing timely financial information to support management decision-making.

The position requires a highly organized and detail-oriented professional with strong financial and administrative capabilities a high level of accuracy and integrity and the ability to maintain confidentiality when handling financial and organizational information.

3. Purpose and Objectives

Purpose

The purpose of the Finance & Administration position is to support effective and accountable financial and administrative management through accurate financial records sound budgeting timely reporting effective cash management and appropriate financial controls.

Objectives

The position will be expected to:

• Maintain accurate and complete financial records.
• Support effective budgeting and expenditure monitoring.
• Prepare timely and accurate financial reports.
• Support effective cash and financial transaction management.
• Ensure that financial activities are properly documented and controlled.
• Support compliance with established financial procedures and controls.
• Provide reliable financial information to support management decision-making.
• Provide effective administrative support related to financial operations.

4. Scope of Work

The scope of work covers the organizations core finance and administration functions including:

1. Financial management and accounting.
2. Budgeting and expenditure monitoring.
3. Financial reporting and analysis.
4. Cash and bank management.
5. Financial controls and compliance.
6. Financial documentation and record management.
7. General administrative support related to finance and operations.

5. Key Responsibilities

5.1 Financial Management and Accounting

• Maintain accurate and up-to-date financial records and accounting documentation.
• Record review and monitor financial transactions in accordance with approved procedures.
• Prepare and maintain payment vouchers invoices receipts journals and other financial documents.
• Monitor accounts payable accounts receivable and other financial obligations.
• Conduct regular bank and cash reconciliations and identify and resolve discrepancies.
• Ensure that financial transactions are properly authorized supported and recorded.
• Maintain organized and secure financial records and supporting documents.

5.2 Budgeting and Financial Planning

• Support the preparation and monitoring of annual departmental and project budgets.
• Monitor actual expenditure against approved budgets.
• Prepare budget-versus-actual reports and identify significant variances.
• Provide financial analysis and recommendations to support management decision-making.
• Ensure expenditures are aligned with approved budgets and financial policies.

5.3 Financial Reporting and Analysis

• Prepare accurate and timely financial reports.
• Provide financial information and analysis to management as required.
• Support the preparation of financial reports for management projects partners and other relevant stakeholders.
• Ensure the completeness and accuracy of financial data and reports.
• Maintain appropriate records and schedules to support financial reporting.

5.4 Cash and Bank Management

• Monitor cash balances and support effective cash-flow management.
• Maintain accurate records of cash and bank transactions.
• Process authorized payments and banking transactions.
• Conduct regular bank and cash reconciliations.
• Ensure proper documentation and authorization of cash and bank transactions.

5.5 Financial Controls and Compliance

• Implement and maintain effective financial controls.
• Ensure compliance with established financial policies and procedures.
• Monitor financial transactions to identify errors discrepancies or irregularities.
• Review financial documentation for accuracy completeness and proper authorization.
• Maintain confidentiality and security of financial information.
• Support internal and external audits by providing accurate financial records and supporting documentation.
• Promote accuracy accountability integrity and compliance in financial operations.

5.6 Administration

• Provide general administrative and financial support to management and relevant departments.
• Maintain proper financial and administrative filing systems.
• Support procurement supplier payments contracts and other finance-related administrative processes.
• Coordinate with banks suppliers service providers auditors and relevant stakeholders when required.
• Perform other finance and administrative duties within the scope of the position.

6. Required Qualifications

Mandatory Requirements

Candidates must meet one of the following qualification pathways:

Bachelors Degree

• Bachelors degree in Finance Accounting Business Administration Economics or a related field.
• At least 5 years of relevant professional experience.

Masters Degree

• Masters degree in a relevant field.
• At least 3 years of relevant professional experience.

Preferred Requirement

• Professional certification such as ACCA CPA or equivalent is an added advantage.

7. Required Experience

Mandatory Requirements

The candidate must have relevant professional experience in:

• Financial management.
• Accounting.
• Budgeting.
• Financial reporting.
• Cash management.
• Administration.

The candidate should demonstrate practical experience directly relevant to the responsibilities of the Finance & Administration position.

Preferred Experience

Experience in the following sectors is preferred:

• Banking
• Microfinance
• Financial services

Candidates with at least 3 years of relevant sector experience will be preferred.

8. Required Skills and Competencies

Financial and Technical Skills

• Strong financial analysis and reporting skills.
• Good knowledge of accounting principles.
• Good understanding of financial controls.
• Good knowledge of budgeting and expenditure monitoring.
• Strong Microsoft Excel skills.
• Strong knowledge of accounting or financial management software.
• Ability to organize and maintain accurate financial records.

Professional Competencies

• Strong organizational and time-management skills.
• High level of accuracy and attention to detail.
• Strong integrity and professional ethics.
• High level of confidentiality when handling financial information.
• Good communication and interpersonal skills.
• Strong analytical and problem-solving skills.
• Ability to identify financial discrepancies and resolve issues effectively.
• Ability to manage multiple responsibilities and meet deadlines.
• Ability to work independently and as part of a team.

Core Competencies

The successful candidate should demonstrate:

1. Financial Management
2. Accounting and Financial Reporting
3. Budget Management
4. Financial Analysis
5. Cash and Bank Management
6. Financial Controls and Compliance
7. Administrative Management
8. Attention to Detail
9. Problem-Solving
10. Integrity and Confidentiality
11. Communication
12. Planning and Organization

9. Deliverables / Expected Outputs

The Finance & Administration position is expected to deliver the following:

Deliverable

Expected Output

Financial Records

Accurate complete and up-to-date financial records and supporting documentation.

Financial Reports

Timely and accurate financial reports prepared in accordance with organizational requirements.

Budget Monitoring

Regular monitoring of expenditure against approved budgets and identification of significant variances.

Financial Analysis

Clear financial analysis and information to support management decision-making.

Cash Management

Accurate monitoring and recording of cash and banking transactions.

Bank & Cash Reconciliations

Regular and accurate reconciliation of bank and cash records.

Financial Controls

Financial transactions supported by appropriate documentation authorization and controls.

Financial Documentation

Properly organized maintained and securely stored financial records.

Administrative Support

Timely and effective finance-related administrative support.

Confidentiality & Integrity

Financial information handled with accuracy confidentiality integrity and professionalism.

10. Application / Submission Requirements

Interested candidates should submit:

1. Updated Curriculum Vitae (CV) clearly demonstrating relevant qualifications and professional experience.
2. Cover Letter outlining the candidates suitability for the Finance & Administration position.
3. Copies of relevant academic qualifications and certificates.
4. Copies of professional certifications where applicable such as ACCA CPA or equivalent.
5. Relevant professional references where applicable.

Assessment Criteria

Applications will be assessed based on:

• Relevant academic qualifications.
• Required professional experience.
• Experience in financial management accounting budgeting financial reporting cash management and administration.
• Relevant experience in banking microfinance or financial services.
• Financial analysis and reporting skills.
• Knowledge of accounting principles budgeting and financial controls.
• Microsoft Excel and accounting software proficiency.
• Organizational and time-management skills.
• Accuracy and attention to detail.
• Integrity and confidentiality.
• Communication and problem-solving skills.

Only candidates who meet the mandatory qualification and experience requirements will be considered for further assessment.