Senior Finance Manager

2 months ago

Nairobi, Nairobi Area, Kenya Busara Center Full time

The Busara Center for Behavioral Economics is an advisory and research organization focused on evaluation and implementation of behavioral interventions in understudied countries and populations.

Busara's mission is to work with researchers and organizations to advance and apply behavioral science in pursuit of poverty alleviation.


About the role:

The Senior Finance Manager is pivotal in managing the organization's financial resources, providing strategic financial leadership, and supporting the organization's strategic objectives.

As an advisory firm, Busara operates in a consulting firm setup, managing multiple portfolios consisting of various advisory projects and engagements.

This dynamic environment requires the Senior Finance Manager to adeptly navigate multiple financial streams, ensuring each portfolio's financial health and alignment with overall organizational goals.

This position is responsible for leading project financial planning and management efforts, monitoring financial performance, forecasting future financials, and offering strategic financial advice to the project managers and leadership team.

The Senior Finance Manager will also provide leadership and direction to the finance team, ensuring compliance with regulatory requirements and internal policies.

The Senior Finance Manager will be highly skilled in communication and relationship management, with the ability to effectively collaborate with individuals from diverse backgrounds.


Core Responsibilities:
Project Finance Management

Collaborate with senior leadership and Engagement Directors (EDs) to develop financial projections and forecasts for their teams, portfolios, and all ongoing projects.

Oversee the financial management of grants, ensuring compliance with grant requirements and financial alignment with approved budgets.

Lead the finance team in updating project milestones and financial indicators in the central hub, ensuring real-time visibility and informed decision-making for stakeholders.

Collaborate with the Research and Advisory team to prepare and conduct review budgets during the proposal stage to ensure accuracy, cost-effectiveness, and alignment with project requirements.

Support project leads and the Engagement Directors in addressing client queries, due diligence, post-proposal review, and providing clear and concise financial information.

Review project contracts to ensure compliance with financial policies, regulations, and project specifications.
Design and develop budget templates tailored for the Research and Advisory team, accommodating various project requirements.
Maintain and update standard budgeting rates, including staff rates and travel estimates, ensuring they are current and accurate.
Take full ownership of the end-to-end project lifecycle, from initiation to completion. Address and rectify project financial deviations, ensuring they adhere to allocated budgets.
Manage billables through staff accounting, ensuring the project team adequately covers their staff costs.

Facilitate project kick-off and close-out meetings to ensure all project activities are finalized and closed in the accounting system.

Ensure the accuracy of project analysis reports, providing reliable financial data for decision-making.
Manage pass-through payments to Busara partners, ensuring that overheads are recovered as per the contract.

Drive the continuous improvement of financial databases, ensuring the integration and accuracy of client and project data across various platforms.

Coach and support project teams in their financial needs, ensuring they have the tools and knowledge to manage project finances effectively.

Accounts Receivables Management

Oversees end-to-end accounts receivable process, ensuring that policies and procedures are consistently applied and adhered to.

Develop and implement strategies to enhance the client contract review process, ensuring all financial and commercial terms are understood and correctly reflected in the accounting system.

Oversee the billing framework, manage account statements, ensure punctual invoice settlements, and follow up on project milestones to ensure timely billing.

Lead AR collection initiatives, strategizing on best approaches to manage outstanding receivables while upholding strong client relationships.
Analyze and present monthly AR reports, offering strategic insights into cash flow management and potential financial risks.
Continuously review and refine financial policies and procedures.
Ensure accurate and optimal overhead recoveries from projects that align with contractual agreements.
Ensure compliance with statutory requirements across all operating countries, adhering to local regulations and laws.

Financial Analysis & Reporting

Provide the senior leadership team with regular updates on financial health, including risks and opportunities.
Ensure precise and timely submission of financial reports to clients and partners.
Manage the preparation of detailed monthly and quarterly revenue reports, offering strategic insights and recommendations to executive leadership.

Support financial audit preparations, working closely with external auditors and internal stakeholders to ensure a seamless and compliant audit process, as needed.

Automate accounts receivable reports and processes to enhance efficiency and accuracy.
Continuously design and develop relevant financial reports to meet evolving business needs.

People and Relationship Management

Manage the accounts receivable team and other team members as may be required.

Set clear performance expectations and goals for performance management and support employees' growth and development through guidance, coaching, mentorship, instruction, and advice.

Promote productivity by prioritizing and organizing objectives, resources, and work assignments to support employee success. This includes delegating tasks and responsibilities effectively while supporting and guiding team members as needed.
Proactively collaborate with leaders within the organization and coach team members to do the same.
Facilitate collaboration and build trust among team members and across the organization.
Lead by example and promote the adoption of organizational values and culture.

Effectively allocate and utilize available resources, including financial, human, and material resources, to achieve the team's goals and objectives.

Perform any other duty as may be assigned by the Finance Director or their representative.

Knowledge, Skills, and Experience

Minimum of 7 years of experience in financial management, preferably in a research, consultancy or non-profit setting.
An advanced degree in business, economics, finance, or a related field (MBA and/or CPA qualification)
Deep knowledge of standard accounting principles (GAAP, IFRS, etc.)

Proven ability to effectively build team capability to closely collaborate with other departments, ensuring seamless integration of financial practices and project management.

Excellent communicator with experience in maintaining clear and proactive communication with stakeholders, ensuring transparency and understanding of financial matters.

Skilled in leading and mentoring finance teams, fostering a culture of continuous improvement and professional growth.
Adept at enhancing team productivity by prioritizing objectives, delegating tasks, and providing support and guidance.
Expertise in driving process enhancement initiatives to improve financial operations and efficiency.
Proven experience in project finance management.
Extensive experience in accounts receivable management.
Strong background in budgeting and budgetary control.
Demonstrated expertise in grants management.

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