Finance / Admin Officer at the Clean Borehole Water Sellers Association (CBWSA) of Lagos Full Time

Job Title: Finance / Admin Officer

Location: Palmgrove, Lagos
Employment Type: Full-time

Job Description

• The Finance Officer will be responsible for overseeing and managing the monitoring and evaluation activities related to the streamlining water vendor activities and capacity building, mapping, and survey of borehole water sellers in Lagos State.
• This includes budgeting, financial reporting, expense tracking, and ensuring compliance with financial regulations and procedures.
• The officer will play a key role in monitoring project expenditures, analysing financial data, and providing accurate financial reports to stakeholders.

Key Responsibilities
Budget Management:

• Develop project budgets in collaboration with project managers/lead and stakeholders.
• Monitor budget utilization and ensure expenditures are in line with approved budgets.
• Provide guidance and support to project teams on budgetary matters and financial planning.
• Ensure that all program implementation activities require direct or indirect involvement of disbursement of hard cash to suppliers, contractors, beneficiaries should safeguarded by segregation of duty.

Financial Reporting:

• Prepare timely and accurate financial reports, including income statements, balance sheets, and cash flow statements.
• Analyse financial data and provide insights to inform decision-making and strategic planning.
• Ensure compliance with financial reporting requirements of donors, government agencies, and other stakeholders.

Expense Tracking and Control:

• Monitor project expenditures and maintain accurate records of all financial transactions.
• Review and approve payment requests, expense reports, and invoices in accordance with organizational policies and procedures.
• Closely work with office of Awards Coordinator to fully understand financial & compliance aspects of donor funded portfolio and use Award Management System (AMS) to understand donor financial compliance requirements.
• Monitor cash & bank flows on daily basis and maintain close coordination with financial institutions to ensure smooth cash flows. Safeguard SCI- cash from assessed / known risks.
• Prepare Bank and cash General Ledger and Cash Offline Spreadsheet (GLACOS), financial data entry on daily basis with trackers.

Grant Management:

• Assist in the preparation of grant proposals and funding applications, including budget development and financial narratives.
• Manage grant funds in accordance with grant agreements and donor requirements.
• Coordinate with project managers and program staff to ensure timely reporting on grant activities and expenditures.

Financial Compliance:

• Ensure compliance with all relevant financial regulations, policies, and procedures.
• Coordinate with auditors and regulatory agencies for financial audits and reviews.
• Implement internal controls and procedures to mitigate financial risks and ensure accountability.
• Ensure that monthly bank reconciliations for all Bank accounts are prepared on regularly basis.
• Escalate any noted financial risks / fraud activities directly to project lead and donor Finance Director.

Expected Results:
Financial Accountability:

• Maintain accurate and up-to-date financial records for the mapping and survey project.
• Ensure that project expenditures are properly documented and accounted for in accordance with financial regulations and procedures.

Budget Adherence:

• Monitor project spending to ensure adherence to approved budgets and funding allocations.
• Provide regular updates on budget performance and variances to project managers and stakeholders.

Financial Reporting:

• Prepare comprehensive financial reports on a regular basis, including income and expenditure statements, budget vs. actual analysis, and financial projections.
• Present financial reports to project stakeholders and provide explanations for any significant variances or discrepancies.

Qualifications and Skills

• Bachelor’s Degree in Accounting, Finance, or a related field. Professional certification (e.g., ACCA, CPA) is desirable.
• Minimum of 3 years of experience in financial management, preferably in the non-profit sector or development projects.
• Strong proficiency in financial software and Microsoft Excel for budgeting, analysis, and
• reporting.
• Knowledge of Nigerian financial regulations, accounting standards, and donor requirements.
• Excellent analytical and problem-solving skills, with attention to detail and accuracy.
• Effective communication and interpersonal skills for collaborating with project teams and external stakeholders.
• Ability to work independently, prioritize tasks, and meet deadlines in a fast-paced environment.
• An energetic, flexible, and proactive approach with the ability to work both independently
• andco-operatively within a team setting and maintain good working relationships.
• Ability to work within set guidelines for the payment of invoices/expenses and identify instances when the guidelines are not being followed.
• Commitment to organization and donor financial policies and regulations

Application Closing Date
14th June, 2024.

How to Apply
Interested and qualified candidates should send their Applications to: [email protected] using the Job Title as the subject of the email.