Finance Coordinator
Position Circumstances
- Career Category: Banking / Finance, Accounting
- Schedule:Full-time
- Salary: Negotiable
Contract type: 1-year contract with the possibility of extension.
Report to: Executive Director
The Finance Coordinator is responsible for the efficient and effective day-to-day financial operations of WMC, including accounting, financial recording and reporting, grant management and budgeting. The position ensures compliance with donor requirements and Cambodian accounting standards, proper use of funds in accordance with grant agreements and WMC policies, and protection of organisational resources through appropriate internal controls.
The Finance Coordinator supports grant budget preparation and fundraising, provides timely and accurate financial information and advice to management and donors, and ensures that finance-related guidance and training are available to Finance Unit staff and colleagues across WMC. As a member of the senior Management Team, the position contributes to strategic and managerial decisions and the achievement of WMC's organisational goals.
Duties & Responsibilities:
- Finance policy and internal controls
- Keep WMC's finance policies up to date, reflecting accounting standards and best practices in internal control and resource management.
- Ensure that all staff understand and consistently follow WMC's finance policies, guidelines and procedures, and respond to queries on financial processes.
- Review financial documents to prevent fraud and corruption, and ensure that transactions comply with relevant policies and guidelines before submission to the Executive Director for approval.
- Accounting Records
- Manage the full range of accounting and reporting functions, supervise the QuickBooks system, and ensure that accurate financial records are maintained in a format that meets WMC's needs.
- Ensure timely and accurate monthly and year-end closing and submission of financial reports to line management.
- Ensure that financial records are properly filed and that electronic records are regularly backed up, including a DVD copy stored in a secure off-site location.
- Budgeting and reporting to management
- Prepare WMC's annual budget for approval by the Executive Director and Board of Directors.
- Prepare revised monthly financial forecasts and submit them to the Executive Director.
- Prepare accurate and timely reports on WMC's financial situation for management, together with periodic reports required by the Board of Directors.
- Advise management on the funding situation and promptly alert them to potential financial problems.
- Review WMC's annual financial statements prepared by the Finance Officer before submission to the external auditor.
- Grant management, donor budgeting and reporting
- Support the preparation of donor proposals and fundraising by preparing and approving grant budgets.
- Lead effective grant management and ensure that funds are managed and used in accordance with grant agreements, donor requirements and WMC policies.
- Conduct thorough reviews of grant expenditure to ensure that costs charged to each grant align with the donor budget and stipulated donor regulations.
- Monitor expenditure against budgets and promptly advise management of any issues.
- Prepare and oversee accurate, timely financial reports for each donor in accordance with the relevant grant agreement, and liaise with donors on financial issues.
- Revenue
- Ensure that all revenue owed to WMC is collected promptly and effectively and accurately recorded, including oversight of sales-contract signing and invoicing processes.
- Ensure all that all revenue is banked promptly and in accordance with WMC's finance policy.
- Bank accounts and cash control
- Arrange the opening and closing of bank accounts and the preparation of specimen
- signatures for the bank.
- Carry out monthly reconciliation of C/A accounts and quarterly reconciliation of all WMC bank accounts. Submit reconciliations to the Executive Director for approval within three weeks of the relevant month-end.
- Ensure that cash is held in a secure, locked location and that independent checks are carried out in accordance with WMC's finance policy.
- Conduct a monthly cash count and submit the report to the Executive Director for approval.
- Tax, statutory reporting and audit
- Oversee monthly and annual tax returns.
- Prepare annual financial reports for submission to ACAR and GDT.
- Coordinate the annual audit of WMC’s financial records and facilitates the external audit process.
- Implement audit recommendations as appropriate.
- Management and organisational contribution
- Participate in regular Management Team meetings to review and control income and expenditure, and provide support for organisational development, human resource planning and budgeting, recruitment, management and development.
- Prepare the annual Finance Unit work plan and budget.
- Represent WMC at public consultations, workshops and meetings with government officials, partners and other stakeholders, as required and assigned.
- Staff supervision, motivation and productivity
- Supervise the Finance Officer and Finance Assistant, share strategies, set priorities and allocate tasks to support effective and timely implementation of activities and achievement of Finance Unit goals.
- Provide guidance and support to Finance Unit staff, and encourage behaviour and attitudes that reflect WMC's core values.
- Conduct staff performance appraisals in accordance with WMC's staff policy.
- Identify skills gaps and arrange appropriate staff training where possible.
- Personal growth and development
- Maintain open, constructive working relationships and communication with colleagues, and demonstrate a helpful, friendly and professional attitude.
- Actively seek and participate in professional development opportunities and contribute to improving WMC's overall management systems.
- Perform other duties assigned by the line manager.
Expected Profile of Candidates
Languages:
- Khmer - Fluent
- English - Fluent
Qualifications:
- Bachelor's Degree in Finance and Accounting or a related field
- Master's Degree is preferred
Work History:
- Finance and accounting experience in the non-profit sector for 5 years as a minimum
Skills & Knowledge:
General & Technical Skills
- Excellent command of written and spoken English and Khmer.
- Extensive knowledge of finance, advanced finance and accounting skills, and the ability to lead others in related tasks.
- Flexibility, accountability and control when working with donors and partners on complex financial tasks.
- Strong understanding of WMC's structure, operations, strategies, strengths and challenges, and how the Finance Unit's functions and performance contribute to the organisation.
Soft Skills
- Ability to manage multiple tasks and stakeholder relationships effectively, meet deadlines, and work with precision and meticulous attention to detail.
