Job Vacancy: Chief Accountant
About the Organization
At FarmDrive understanding smallholder farmers credit risk better than anyone is a core objective. We fuse technology and operational innovation to fix systemic gaps that limit people’s progress. We are leveraging mobile phone infrastructure, big & small data, and data analytics to make sure the benefits of capital stretch all the way to underserved smallholder farmers.
Our expertise is in building alternative credit scoring models that efficiently assess the risk of smallholder farmers while helping financial service providers confidently extend loans to these smallholder farmers and significantly improve their bottom line.
We work directly with smallholder farmers, financial service providers, mobile network operators and other data providers. Results from our initial work has shown that loans increase the productivity of farmers and automated decisioning lowers costs and increases quality agricultural portfolios for financial service providers.
We are looking for an exceptional and deeply experienced candidate that is excited about the opportunity to help build out FarmDrive’s financial accounting and reporting structure.
Now is an exciting time to join a small but fast-growing team where you will play a major role in shaping FarmDrive’s future. We are at the crux of growth through a collaboration with a leading mobile network operator in Kenya. Together, we are launching the first ever mobile-centric solution targeted for smallholder farmers with the objective of availing simple and affordable financial services to farmers, thereby supporting the financial inclusion agenda in Kenya.
Role Overview: The Chief Accountant will be the epicenter of FarmDrive’s financial operations and management. The successful candidate will have the skills necessary to simultaneously build the accounting and financial reporting ship and also sail it.
The chief accountant’s primary responsibilities will be:
Design, implementation, and execution of the entire accounting and financial reporting function for the organization
- Maintain the general ledger in accordance with IFRS for all transactions
- Record loan activity in the general ledger, using outputs from the organization’s loan portfolio management software
- Take responsibility for and manage the work of any external financial and accounting consultants working for the organization
- Produce monthly financial statements and accompanying reports comparing actual to budgeted performance.
- Develop management dashboards for different function heads and automate reports using financial intelligence tools
- Submit financial results with commentary to board on monthly and quarterly basis and share variance analysis on key movements related to P&L.
- Prepare, consolidate and report on financials and forecasts for all stakeholders including profitability analysis on different product categories and statements on different metrics
Grant and loan portfolio management
- Develop, prepare and deliver financial performance information related to the organization’s loan portfolio to senior management, grantors, debtors, the board of directors, and loan portfolio consortium partners.
- Prepare and deliver mandated financial reports to satisfy the requirements of existing and new grants received by FarmDrive.
- Manage the invoicing relationships with FarmDrive’s consoritum partners and grantors to allow for an expedited flow of funds through the business model as it pertains to grantor funds.
Loan portfolio management software
- Assist with the implementation/customization of loan portfolio management software to allow for loan portfolio activity to be properly recorded in the general ledger
- Be the point of contact with the loan portfolio software provider regarding all transaction fee billing issues
Internal controls / internal audit / monitoring
- Ongoing development, maintenance and evaluation of internal controls and the internal audit function
- Implement a series of checks and balances to ensure that the organization’s financial reporting to all vested parties is correct and complete
Audit and tax
- Prepare for and manage the annual external audit process
- Prepare for and manage consortium related audits and other grantor related audits
- Provide advice to senior management on strategies, policies, and actions to minimize the entity’s tax burden
Budgeting and forecasting
- Develop and maintain the organization’s budget, evaluating actual results against the budget and recommend corrective actions to minimize financial risk
- Develop and maintain loan book revenue and cost forecasts
- Develop financial models and strategies to help the business become sustainable and validate the existing route to market and profitability for entire business structure
Fundraising & Financial Strategy
- Build financial strategy to support the executive team on launching new tactical initiatives to grow the business
- Support fund raising efforts (Debt & Equity) from prospective funders, and other relationship management with existing investors,
- Support due diligence and signing of term sheets for investments to maintain liquidity in business
- Build debt / finance Function and grow relationships with auditors, bankers and other external stakeholders
- Strategic Inputs to management team on new markets, market intelligence and business growth parameters
- Pricing structure buildup and management to ensure margin adequacy is maintained
- Gatekeeper for all contracts and pricing structure and ensure that margins are accurately represented in commercials
- Support product marketing and new product launch
- Annual operating plan for all business units and all functions
Key Skills and Qualifications
- Minimum of 5 years of internal accounting and financial reporting experience, preferably in a financial services organization
- CPAK certified
- Supervisory experience – external audit experience as a team-lead for a large accounting firm is a plus
- A self-starter and independent mentality – someone who does not wait to be told where to expend energy
- The ability and confidence to identify weaknesses in the internal and external reporting structure and recommend and implement changes
How to Apply
Interested candidates who meet the above required qualifications and experience should submit a cover letter, detailed curriculum vitae (CV) listing three professional referees (including a recent supervisor) to firstname.lastname@example.org on or before Friday 9th March 2018 by 5.00pm.
The email subject line must clearly show the job title.
Applications without the right subject heading will be automatically disqualified.
(Applications will be reviewed on a rolling basis. We will only get in touch with shortlisted candidates)
Only shortlisted candidates will be contacted.