S4D Consulting is a well-known consulting firm based in Laurel, Maryland, USA, with branches in Accra, Ghana, and Kampala, Uganda. Our primary focus is to enhance business operations through the implementation of sustainable information and communication technology, especially in developing countries. We provide services to help clients develop and execute strategies to address complex challenges and improve organizational performance. Our areas of expertise include technology strategy, digital transformation, cybersecurity, data analytics, and IT infrastructure. Additionally, our team offers engineering and scientific support in areas such as healthcare, artificial intelligence, climate change, agriculture, and education. We also provide cybersecurity consulting services to safeguard organizations against cyber threats.

Since its establishment in December 2020, S4D has experienced significant growth, leading to the expansion of its financial management requirements. Consequently, the firm is looking to engage a consulting firm or an individual to assist in designing robust financial management systems to meet its growing needs.

Job Title: Financial Management Oversight Consultant
Job Location: Accra
Company Name: Systems for Development (S4D)

Job Description:

This outlines the Terms of Reference for financial management oversight for S4D Consulting LLC, with the aim of ensuring effective financial management, control, and transparency within the organization.

1. Objectives
The primary objectives of financial management oversight are to propose processes and mechanisms to:

• Ensure accurate and timely financial reporting.
• Maintain proper internal controls.
• Ensure compliance with relevant laws and regulations.
• Facilitate effective financial planning and analysis.
• Ensure alignment of financial management practices with organizational strategic goals.

2. Scope of Work

The scope of financial management oversight includes, but is not limited to, the following areas:

A. Initial Assessment and Planning
o Conduct an initial financial needs assessment to understand S4D’s business model, operations, and financial requirements.
o Develop a financial management plan outlining the objectives, scope, and timeline for setting up financial management and control systems.

B. Review/Establish Financial Policies and Procedures
o Develop/Review and document financial policies and procedures, including:

- Accounting Policies
- Budgeting and forecasting procedures
- Cash management policies
- Expense management policies
- Revenue recognition policies
- Internal control procedures
o Ensure policies and procedures comply with relevant accounting standards and regulatory requirements.

C. Financial Reporting and Analysis
o Set up a financial reporting framework that includes:

- Monthly, quarterly, and annual financial statements
- Management reports and dashboards
- Key performance indicators (KPIs) and financial metrics

o Implement financial analysis tools to support decision-making, including:

- Variance analysis
- Break-even analysis
- Cash flow analysis
- Profitability analysis

D. Budgeting and Forecasting
o Review and develop an annual budgeting process that includes:

- Revenue projections
- Expense forecasts
- Capital expenditure plans
- Cash flow forecasts
o Design a budgeting and forecasting system to track performance against budget and update forecasts as needed.

E. Accounting Systems and Software

o Assess and evaluate the current accounting software and recommend an accounting software based on the assessment that meets the S4D needs.

o Oversee implementation of the chosen accounting software, including:

- Chart of accounts setup
- System configuration
- Data migration
- User training

F. Internal Controls and Audit

o Establish a robust internal control framework to safeguard assets and ensure the accuracy of financial records.
o Oversee implementation of control activities, such as:
- Segregation of duties
- Approval and authorization processes
- Reconciliations and reviews
o Develop an internal audit plan to review and test internal controls regularly.

G. Cash Management

o Set up cash management procedures to optimize liquidity and ensure sufficient working capital, including:

- Cash flow forecasting and monitoring
- Bank account management
- Payment processing and control
- Collections and receivables management

H. Compliance and Risk Management

o Ensure compliance with relevant financial regulations and standards, including:

- Tax compliance and reporting
- Financial reporting standards (e.g., IFRS or GAAP)
- Industry-specific regulations

o Develop a risk management framework to identify, assess, and mitigate financial risks, including:

- Credit risk
- Market risk
- Operational risk
- Regulatory risk

I. Training and Capacity Building

o Provide training to the S4D finance team on financial policies, procedures, and systems.
o Develop a knowledge transfer plan to ensure the S4D team can manage financial operations independently.

J. Monitoring and Evaluation

o Establish a monitoring and evaluation process to assess the effectiveness of financial management and control systems.
o Conduct periodic reviews and provide recommendations for continuous improvement.

K. Reporting and Documentation

o Review and prepare comprehensive documentation of all financial management and control processes, including:
- Policy manuals
- Procedure guides
- System user manuals
o Provide regular progress reports to the S4D’s management team on the implementation status and key findings.

Qualification Required & Experience

1. Education:

• Master’s degree in Finance, Accounting, Business Administration, or a related field
• Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) is preferred.

Experience:

• Minimum of 7-10 years of experience in financial management, accounting, or auditing in the private sector.
• Experience in developing and implementing financial policies and procedures.
• Proven experience with financial reporting and analysis.
• Experience with budgeting and forecasting.
• Familiarity with accounting software evaluation and implementation.
• Experience in establishing and maintaining internal controls.
• Experience in compliance and risk management.
• Experience in training and capacity building for finance teams.

Skills:

• Strong analytical and problem-solving skills.
• Excellent communication and presentation skills.
• Proficiency in financial analysis and reporting tools.
• Strong knowledge of accounting standards (IFRS or GAAP).
• Ability to manage multiple projects and meet deadlines.
• Proficiency with accounting software and financial management systems.

Key Competencies

• Attention to Detail: High level of accuracy and attention to detail in preparing financial reports.
• Leadership: Ability to lead and mentor finance teams.
• Strategic Thinking: Ability to align financial management practices with organizational goals.
• Adaptability: Ability to adapt to changing priorities and financial regulations.
• Ethics: High standard of professional ethics and integrity.

Location: Accra

How To Apply For The Job

To submit your application, click on the link below and complete all relevant fields on the online application form.

Click Here To Apply Online

Closing Date: 19 July, 2024

Notice: Be available to start work immediately