Terms of Reference: Finance and Compliance Associate
Accountability Lab (AL) Nigeria is a part of a translocal network that makes governance work for citizens around the world. We support active citizens, responsible leaders and accountable institutions to unleash positive social and economic change. With the Labs’ decade of collective experience on issues around governance, community building, and accountability and integrity, there are three mutually reinforcing objectives to:
- support a positive movement to build accountability and democracy.
- ensure the voices of communities are heard on accountability issues.
- support collaboration around accountability and open governance through unlikely networks.
Read more about our Theory of Action here.
The Finance and Compliance Associate will be responsible for supporting the Finance and Administration Manager in compliance and financial management of the AL Nigeria. S/he will be responsible for monitoring daily operations around compliance with regulatory and policy requirements in Nigeria. The Finance and Compliance Associate will maintain acceptable accounting standards and financial control according to all donors’ requirements, rules and procedures. The Associate will monitor financial processes, help develop and deliver training programs to increase understanding of regulatory requirements, compliance policies and ethical conduct within daily operations and across the organization and report on any non-compliance issues to AL Nigeria Management to allow for relevant changes.
Conduct reviews of organizational practices and operations in order to assess adherence to financial and accounting policies and regulations. Monitor adherence to remediate incidents of non-compliance. This will include:
Regularly audit AL Nigeria procedures, practices, and documents to identify possible weaknesses or risks:
- Create and manage effective action plans in response to audit discoveries;
- Provide guidance and recommendations on corrective actions or risk mitigation strategies, and ensure proper implementation.Consult with staff to identify root causes of non-compliance or compliance violations.
Develop and support policies to support compliance:
- Determine what policies are applicable and needed in the organization;
- Review and update procedures to reflect changes in legislation and AL Nigeria operations;
- Act as an educational and training resource on compliance matters.
Maintain regulatory awareness:
- Review regulatory resources (bulletins, trade journals, news publications, websites, etc.) in order to help AL Nigeria stay up-to-date;
- Attend related conferences and training sessions, networking with industry peers.
Financial support to AL Nigeria including, but not limited to:
- support development of budgets, cash flow management, reviewing payments and disbursement packages, posting financial transactions into QuickBooks
- ensuring compliance with all donors requirements and AL Financial Management Policies as relating to finance;
- reconciliation of all banks and sub-ledgers, financial analysis, supporting project staff with provision of advice and reports.
Above all, this position requires a superb understanding of adaptive finance and compliance techniques. It requires excellent attention to detail, interpersonal and relationship management skills. Personal integrity is of the utmost importance in this role, as the Finance and Compliance Associate will be expected to operate with a high degree of integrity and fairness. The successful candidate will also need to be able to work within a dynamic and culturally diverse team, embodying the organization’s commitment to accountability, transparency and equity. We seek a demonstrated record of assuming significant professional responsibility and striving to maintain a balance of impartiality and fairness while promoting compliance excellence.
- Undergraduate Degree in Accounting and/or Finance;
- 3 years’ experience in a similar role working in a computerized accounting office in an NGO or INGO;
- Experience in financial reporting and compliance with donors such as the US and European governments will be an added advantage;
- Skilled in supporting the development of budgets and proficiency in specialized technology applications and databases, including Microsoft Office;
- Strong team orientation, relationship-building and negotiation skills, and ability to collaborate with diverse groups of people
- Adaptable, resourceful, self-motivated and able to prioritize in a fast-moving environment;
Highly organized and meticulous attention to detail;
- Knowledge of regulatory and legislative policy and procedures for the financial sector
- Strong quantitative analysis and problem solving skill;
- Application of High Ethical Standards: Personal integrity and a sense of ethics to remain independent
- Commitment to the Accountability Lab’s values of integrity, innovation, humility, practicality, and collaboration.
Duration: Three-month trial period as part of a one-year contract with the possibility for renewal.
Reports to: Finance and Administrative Manager.
Compensation: Competitive, commensurate with skills and experience. Additional benefits include: health insurance, group life, and communications stipend.
Application Instructions: To apply, please send a cover letter, CV and salary expectations to [email protected] on or before July 2, 2021. Please use “AL Nigeria FCA Application” as your reference.