Director of Finance Organization Position Title Reporting To Category Status Duty Station Closing Date Start Date Application Submission African Institute for Mathematical Sciences Next Einstein Initiative Director of Finance Executive Director (Interim reporting line) Network organisation finance Staff position Cape Town, Republic of South Africa Open until filled As soon as possible itamajong@nexteinstein.org BACKGROUND Within the context of an unprecedented mission and a pioneering innovative math and science education institution, the African Institute for Mathematical Sciences Next Einstein Initiative (AIMS-NEI) seeks to attract a highly accomplished and experienced professional to the role of Director of Finance whose qualifications match the standards of excellence for which AIMS is gaining continental and international recognition. REPORTING It is anticipated that the Director of Finance (DF) will report to the Chief Operating Officer. However, in the interim he/she will report directly to the Executive Director (ED) and will directly assist the Secretariat and Centre Directors and senior management on all strategic and tactical matters as they relate to budget management, cost benefit analysis, forecasting needs, internal and quality control, the securing of new funding and meet donor s fiscal guidelines. SUMMARY OF KEY COMPETENCIES The Director of Finance oversees and supervises the network finance unit (including Centres and Secretariat) and is the financial spokesperson for the network. In this position, the DF is expected to bring the following performance and technical competencies to the team: Collaborative leadership in financial matters, Accounting, financial systems and financial controls in an international and multiple donor context Budgeting and financial modeling,
Financial planning and analysis, Cash and risks management Management reporting Negotiation and problem solving Sustainability planning KEY DUTIES AND RESPONSIBILITIES Oversee the management and coordination of all fiscal reporting activities for the network including revenue/expense and balance sheet reports, reports to funding agencies, development and monitoring of organizational and contract/grant budgets. These reports should be timely, open and accurate and help to support informed operational and institutional decisions. Oversee the production of monthly reports including reconciliations with funders and requirements, as well as financial statements and cash flow projections. Ensure adequate controls are in place and that substantiating documentation is approved and available such that all procurement decisions will satisfy national and international norms and will thus pass independent and governmental audits. Participate in developing new business, specifically: assist the ED, Program, Outreach, Operations and Research Units in the drafting of prospective programmatic budgets, and determining cost effectiveness of prospective service delivery. Provide financial oversight of major grant applications, capital projects, research budgets and other financial management activities (e.g. budget process, reporting systems and financial risk) within the network. Develop and maintain systems of internal controls to ensure appropriate spending and to safeguard financial assets of the network. Oversee the coordination and activities of independent auditors ensuring all audit issues are resolved, and all compliance issues are met. Identify and coordinate activities to mitigate the Network s exposure to risk/liability. Prepare the Network s annual financial statements and ensure it is in accordance with GAAP in the UK and other required supplementary schedules and information Work with the ED on cultivating stakeholder relationships at all levels, as well as assisting in the development and negotiation of contracts. Oversee all purchasing and payroll activity for staff and other participants within the network. Train the Finance Unit and other staff on raising awareness and knowledge of financial management matters.
Lead the budgeting process across the network and ensure that detailed budgetary information is available in a timely fashion to network leadership. Work with the Secretariat senior management team to ensure programmatic success through cost analysis support, and compliance with all contractual and programmatic requirements. This includes: 1) interpreting legislative and programmatic rules and regulations to ensure compliance with all government and contractual guidelines, 2) ensuring that all government and funder regulations and requirements are disseminated to appropriate personnel, and 3) monitoring compliance. Assess the benefits of all prospective contracts and advise the Secretariat Executive Team on programmatic design and implementation matters. Attend Board and Subcommittee meetings; including being the lead staff on the Audit/Finance Committee. Monitor banking activities of the network and ensure adequate cash flow to meet the network s needs. Oversee Accounts Payable and Accounts Receivable and ensure an emergency recovery plan is in place. Lead the development of a network remuneration policy. THE PERSON The DF has proven ability to turn the conceptual into the practical, to critically assess opportunities and risks, and proposed and implement action plans. Ensure standards of excellence through financial management, accountability and integrity. He/she will guide and enable the Centres and Secretariat to focus on ensuring accountability, capacity building of finance staff, coordination of budget and planning processes and review of financial strategies for the network that best serve strategic and program objectives. This position requires a level of decision-making from the mundane to the critical on a routine basis. This position works effectively across internal functional areas in managing multiple responsibilities in an environment of continuous change and shifting priorities. A high level of leadership and management skills are required for continuous planning and for dealing with multiple projects and stakeholders with competing priorities. The DF must deal with emerging and unpredictable events in a time sensitive and timely manner. This position may require long and/or irregular hours. The Director will promote an environment of innovation, empowerment and responsible stewardship, and provide leadership for the coordination and management of the network s overall finances.
The person must be able to manage teams and peers across multiple geographic and cultural contexts and build relationships of trust and efficiency at all levels. EDUCATION AND EXPERIENCE Education First degree in accounting or commerce Post-graduate degree in business administration combined with a professional accounting designation: Certified Public Accountant (CPA) or Chartered Accountant (CA) preferred. Any equivalent combination of education and experience determined to be acceptable. Experience A minimum of ten (10) years of progressive experience including recent experience at a senior financial leadership position in a University, major international NGO, multi-dimensional organization or institution that has parallels to a University environment. Significant experience managing financial resources from multiple donor sources and across multiple currencies MUST HAVE 1. First degree in accounting or commerce 2. Ideally a MSc in Finance or Business 3. Professional accounting designation 4. Successful record in managing major development cooperation funding including DFID, CIDA, EU, USAID, DANIDA etc. 5. Complex not-for-profit corporate budgeting and financial analysis 6. Complex multiple donor reporting 7. Experience with match funding planning and monitoring 8. Accountability and financial transparency COMPENSATION AND BENEFITS AIMS-NEI offers a highly competitive not-for-profit compensation package and benefits. The position will also offer the selected candidate a unique chance to apply his/her skills in a dynamic and entrepreneurial organization currently undergoing significant growth across Africa with partners from around the world. TO APPLY Prospective candidates must submit a letter of motivation and detailed CV, together with the names of at least two referees to: AIMS-NEI Hiring, AIMS-NEI Secretariat ABSA on Grove, 3rd Floor; 11 Grove Avenue, Claremont 7708, Cape Town, South Africa or
electronically to: itamajong@nexteinstein.org (ensure that the job title is in the subject line please). Should no feedback be received from AIMS-NEI within four weeks of your submission, kindly accept that your application did not succeed. AIMS-NEI reserves the right not to make an appointment at its sole discretion. Only shortlisted candidates will be contacted.