Head of Finance at Aga Khan University (AKU) Full-time Job

Position Overview

Reporting to the Senior Manager, Finance, the incumbent will be responsible for looking after Financial Management, Planning and Budgeting functions of the the Aga Khan University Tanzania (AKUTZ). The position holder will have responsibility of maintaining and implementing internal controls of the University in Tanzania to ensure the integrity of all financial records and credibility of information.

Responsibilities

1. Financial Management & Control

• Collaborate, design, implement and review finance systems, policies and procedures to ensure continuous improvement and contemporary relevant practices
• Ensure that University is fully compliant with tax law, financial law and standards in Tanzania
• Lead and undertake annual audit and ensure the end of quarter/ month financials are closed within stipulated timelines with accuracy
• Ensuring all liabilities and assets are recorded accurately into the book of accounts
• Working closely with HR on payroll matters and with the auditors to respond to any queries that may arise
• Monitoring the accruals in relation to staff costs, staff advances, and enforcing the recovery process as per the policy
• Forecasting cash flow projections and monitoring this against the daily cash positions
• Review daily and monthly bank and cash reconciliations to eliminate any errors and fraud
• Monitoring the accruals, pre-payments, and creditors' days
• Analysing the variances and generating reports on findings and recommendations
• Supervise payments in all currencies made to suppliers and staff ensuring complete compliance with the institutional policy and legal requirements
• Monitor and manage fixed assets, inventory, treasury functions and inter-entity transactions
• Overall responsibility of students' accounting functions, including proper recording in general ledger and correspondence with parents, granting agencies and students for timely payment of fees due
• Supervise monthly payroll for timely payment to staff, ensure all deductions for loans and advances are made, statutory deductions are done properly and paid in time to the statutory bodies
• File VAT returns, duty and other exemptions with relevant authorities on daily basis and keep complete track to ensure timely collection and distribution to vendors
• Supervise all asset and liability schedules and reconciliation
• Supervise timely and accurate closing of monthly/annual accounts and supervise grant audits.
• Liaise with external and internal auditors for annual and periodic audits
• Preparation of Financial statements as per International Accounting Standards and other management templates/reports

2. Planning, budgeting and reporting

• Prepare annual budgets and 5 years/15 years rolling budgets for all AKUTZ entities in consultation with Entity Heads
• Prepare feasibility/costing studies required for services/ programmes
• Monthly, quarterly, annual reporting of all AKUTZ entities (monthly financial performance, funding requests, newsletters, AKDN reports)
• Prepare grant budgets in consultation with project leads / entity heads
• Ensure financial compliance with granting agencies policies & procedures and prepare monthly/annual grant reports
• Prepare on-demand reports

3. Construction Projects and Accounting

• Work with Project Director to develop annual budgets of construction projects
• Prepare and review monthly financial reports and ensure accuracy of financial information shared through ERP system
• Lead the tax exemption work for the project VAT and WHT along with project director
• Assure compliance to the granting agenciess procurement guidelines and documentation
• Manage cash flow and working capital requirement of the project
• Review of contracts /agreements in relation to the finance clauses and legal
• Oversing payments and accruals of various construction activities and record them in financial system as per the best practices
• Analytical review of monthly budget variance report of construction projects

Requirements

• Qualified Accountant ACCA, CPA (T), ACA, ACMA, CIMA
• Masters of Commerce degree or equivalent
• 5+ years of experience in a large organization (100+ employees) with exposure to financial planning, reporting, analysis, construction and grant budgets and day to day accounting functions. Having supervisory skills/experience of managing a team of 5-10 people will be a definite advantage
• Prior experience in either University or an Academic setup will be added advantage
• Excellent command over verbal and written English
• Strong command over MS Office (Excel, Word, Powerpoint)
• Ability to do multi-tasking and travel within the region as when required
• Excellent people management skills
• Strong knowledge of IFRS and IAS and their application

To Apply

If you meet the requirements of this position, please send your application package which should include an application letter and an updated CV to [email protected]

Please quote the position title on the email subject.

Only short-listed candidates will be contacted.

Applications should be submitted latest by December 7, 2022

Chartered in 1983, Aga Khan University (AKU) is a private, autonomous and self-governing international university, with 13 teaching sites in 6 countries over three continents (www.aku.edu). An integral part of the Aga Khan Development Network (www.akdn.org), AKU provides higher education in several disciplines, carries out research pertinent to the countries and operates 7 hospitals (soon 8) and over 325 outreach clinics, all at international standards. It has almost 2,500 students and 14,000 staff. The University is both a model of academic excellence and an agent of social change. As an international institution, AKU operates on the core principles of quality, relevance, impact and access.