(Project Finance and Accounts Receivables Management)
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.
How To Apply