Founded in 2006, Sonke is a women’s rights organisation that is committed to feminist principles, using a rights-based and gender transformative approach to achieve human rights and gender justice. Our vision is a poverty-free world in which women, children, men and gender non-conforming individuals enjoy equitable, caring, healthy and happy relationships that contribute to the development of gender just and democratic societies. Sonke strengthens governments, civil society and citizen’s capacity to advance gender justice and women’s rights, prevent gender-based violence and reduce the spread of HIV and the impact of AIDS, and in this way contribute to social justice and the elimination of poverty.
About the Position
The Deputy Finance Manager will assist the Finance Unit Manager in ensuring the existence of sound financial management systems and the adherence to policies and procedures. The Deputy Finance Manager will work closely with the Finance Manager to provide input and assistance throughout the finance cycle from budgeting and planning to actual expenditure, reporting and audit preparations; will assist in the development, coordination and controlling of the budgeting process; monitor the results by providing all necessary financial and narrative reports for funders and donor organizations, the board and SMT and will assist in the overall financial management and planning including cash flow projections, payments, project financial reports, donor reporting, donor audits, organizational audit and sub-awards audits.
Key duties and responsibilities
The Deputy Finance will be responsible for:
Budgeting and cash flow forecast
- In consultation with the Finance Manager assist with the preparation for meetings convened in October of each year to assess programme plans for the following year, forecasting flow of funds and budgeting expenditure for each programme. Utilizing the above process, draft an organizational budget for the following year.
- Assist in providing informed financial updates, reports and advice and ensure that any critical operational issues related to finance are flagged and addressed.
- Assist budget holders with the drafting of budgets.
- Monitor budgets for over and under expenditure for specific projects and donors.
Cash flow forecast
- Assist the budget holders to draft cash-flow forecasts for the upcoming months.
- Ensure that funds are transferred between investment and current accounts on a monthly basis as needed.
- Ensure that invoices due to the donor has been processed and submitted.
- Ensure timeous follow-up on outstanding invoices.
Accounting and reporting
- Ensure that Sonke complies with the Companies Act 2008 and with the Companies Regulations, IFRS and the Code of Good Governance for NPO’s
- Assist in preparing financial reports for Board meetings
Donor financial reports
- Check GL to ensure accuracy in terms of donor allocation
- Liaise with program staff to ensure prompt payment, submission of accurate financial information, timely follow-up and error-free posting and record-keeping
- Draft donor financial reports according to donor requirement
- Attend meetings with donors and brief budget holders accordingly
- Ensure that payment requisitions are authorised with supporting documents and invoices reconciled to the statements
- Ensure that invoices are reconciled to the statements.
- Ensure that transactions are processed accurately and timeously.
- Assist in the preparation of internal and external financial reports
- Assist in the preparation of the full analysis of the statement of financial position, statement of comprehensive income, and other reports at month-end.
- Maintain the asset register.
- Ensure that the Office Co-Ordinator conducts a physical inspection of all assets of the organization annually and supports the office coordinator in this regard.
Compliance and financial policies and procedures
- Assist Financial Manager to refine financial systems to ensure proper and transparent financial management in line with International Financial Reporting Standards (IFRS)
- Assist Financial Manager to ensure financial policies and procedures are reviewed and updated annually and monitor internal controls and compliance.
- Work with the Finance Manager to develop and coordinate the annual work plan and budgeting process.
- Assist in ensuring that the organization is SARS compliant with regards to Income Tax, VAT, UIF, and PAYE and that all submissions and payments are done by the due date.
- Assist in the management of the cash flow of the organization, together with control of all bank accounts, petty cash floats and organizational credit cards
- Ensure the provision of internal financial reports each month that include: Financial reports for the previous month as well as year-to-date showing expenses incurred, funds available and funds needed. This should include the SFP (statement of financial position) and SCI (statement of comprehensive income) and variance reports per donor.
- Ensure compliance with financial policies and procedures, including compliance with donor contracts
- Assist in training budget holders and operation staff on compliance areas in the agreement
- Assist the Finance Manager to manage the relationship between the designated audit firm and Sonke and prepare for the annual audit.
- Assist with the coordination with donors who require project audits, as well as oversee quarterly internal audits.
- When required, assist the finance unit manager to induct and orientate new staff for the unit.
- Assist finance team by sharing information and
- Encourage staff to participate in their own development.
Qualifications and experience
- Commerce degree in Accounting or Finance from a recognized academic institution or equivalent experience
- Minimum of 10 years’ experience in a management position within the development sector
- Evidence of progressive growth within increasing responsibility in prior employment
- Proven initiative and ability to take on and complete projects
- Proven experience overseeing financial system and supporting policies and procedures
- Supervisory experience
- Proven ability to develop an organisation-wide budget based on collective programme strategies and actively manage reporting and expenditure
- Proficient in MS Excel, Pastel Evolution and Fraxion
- Knowledge of technical issues relevant to the post such as payroll and statutory banking and audit requirements
- Knowledge of IFRS
- Knowledge of the Companies Act and Code of Good Governance for NPOs
- Proven experience in drawing up, analysing and interpreting financial statements and using the information to provide strategic financial guidance
- Able to develop and implement efficient financial systems in accordance with IFRS requirements
- Knowledge of SARS policies and processes
- Knowledge of the Income Tax Act
- Interested applicants should submit their Curriculum Vitae, and a motivation letter detailing your experience and contact details of 3 referees to Sonke’s Human Resource Unit via email to email@example.com, closing date 24 June 2022.
- Only short-listed candidates will be contacted.
- For non-South African nationals, it is the responsibility of the applicant to attain a work permit from the Department of Home Affairs; employment will depend on a valid work permit being in place.
- Sonke is committed to racial and gender transformation and encourages previously disadvantaged individuals to apply.
- If you do not hear from us by 31 July 2022, please consider your application unsuccessful.
- Sonke reserves the right not to make an appointment.