WeTu Finance Manager at WeTu

Full Time
"Kenya"
Posted on 12/04/2024
Applications have closed

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Job Description

Wetu was born in 2009 to explore and disrupt how the industry works and sells travel. Paul de Waal had a vision of transforming the trade with technology that empowers stakeholders to match modern traveller demands and to compete more effectively.

Salary Range: KSh 200,000 – KSh 300,000/month

Summary

The Finance Manager plays a crucial role in shaping WeTu’s financial stability, business strategies, and internal processes to ensure efficient operations and management. This position collaborates closely with the Directors and managers, conducting analyses, formulating strategic plans for new services and expansion, and identifying appropriate funding sources to support growth and innovation.

Responsibilities include overseeing all aspects of financial planning and management for WeTu’s services and locations, encompassing both business operations and grant-funded projects. This involves leading budgeting efforts, managing accounting practices, procurement, and contracts to ensure adherence to regulations, and enhancing financial processes and reporting systems.

Additionally, the role involves monitoring key performance indicators, extracting insights, and preparing reports for the Directors.

The ideal candidate is a motivated, self-driven Finance professional with strong interpersonal and critical-thinking skills, and a passion for contributing to the growth of an innovative business. Based in Kisumu with occasional field visits to WeTu-operated areas, this role oversees a small team of accounting and administration professionals, collaborates closely with the CEO, and reports directly to the Directors.

Key Roles & Responsibilities:

Lead Financial Strategy, Planning, and Analysis:
Collaborate with Directors to establish financial goals and metrics aligned with organizational strategy and objectives, spanning short, mid, and long-term horizons.
Develop financial scenarios for potential growth avenues, new products/services (business models) and expansion into new locations in partnership with Directors and management.
Conduct thorough financial analysis and modeling, including forecasting, to support decision- making processes and explore suitable financing options.
Formulate mid-term and long-term financial plans and budgets, coordinating with all departments to forecast spending and revenues across various business scenarios.
Implement annual and monthly operating budgets to guide financial activities effectively.
Set up and develop IT tools for financial analysis and reporting.
Identify financial and compliance risks associated with current operations and future expansions, including launching new products or entering new markets.
Collaborate with Directors to prepare presentations, financial scenarios and documentation for potential investors.
Contribute insights to market analysis efforts, including assessments of market size, pricing dynamics, risks, and competitor landscape.

Financial Management and Reporting:

Supervise all financial and grants accounting activities, including the management and support of the Senior Accountant who manages a small accounting team.
Conduct monthly reviews of company, department, and project expenses and revenues, comparing actual figures to budgeted amounts and analyzing variances. Collaborate with project and department managers to glean insights and optimize spending decisions aligned with business objectives.
Participate in ongoing analysis, forecasting, and evaluation of organizational and project- related expenses, accruals, and projections.
Manage cash flow and liquidity, working closely with project coordinators to forecast cash requirements for various grant-based projects.
Prepare monthly financial reports, including business indicator analysis, projections, and cash flow forecasts for presentation to Directors and Shareholders.
Ensure overall compliance with financial management routines, systems, and accounting standards set by WeTu.
Coordinate the development of budgets for funding proposals, gathering input from different departments.
Oversee Grant Accounting and Reporting processes, ensuring accurate allocation of expenses across WeTu projects according to funding agreements. Compile financial reporting materials for donors and ensure compliance with contractual requirements, particularly for restricted funding projects such as GIZ and EU.
Review and approve the financial closure of program activities in accordance with grant regulations, ensuring completeness of documentation.
Supervise contracts with suppliers, ensuring performance aligns with plans and milestones, and authorize payments accordingly.
Oversee external audit processes and provide necessary support.
Monitor changes in tax requirements within our operational areas and ensure compliance.

Driving Improvement and Compliance of Financial and Administrative Systems:

Analyze business and operational processes to identify opportunities for enhancing effectiveness, efficiency, and alignment with company values.
Collaborate with management to initiate improvement initiatives and oversee their implementation.
Enhance and implement robust internal controls to safeguard financial integrity and mitigate risks.
Conduct risk analysis and recommend strategies for risk mitigation.
Develop, review, and ensure successful implementation of financial policies and procedures.
Provide training on financial management and systems to project and operations staff, aiming for compliance across the team and hubs.
Travel to field locations as needed to oversee systems and processes.
Address issues arising from financial and administrative processes, supporting the accounting and administration team to ensure compliance.

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Leading Administrative Procedures and Office Management:

Supervise and provide support to the administrative assistant.
Oversee asset management throughout the organization, including solar panels, lanterns, batteries, as well as staff equipment like laptops and mobile phones. Introduce a new software system to streamline asset management processes.
Manage all insurance contracts and coordinate claims, particularly for damages to equipment such as lanterns and solar panels.
Conduct regular stock takes and spot checks to ensure accurate inventory management.
Administration of our Kisumu Office, where some of our HQ staff are based
Manage lease and utility contracts for all our locations.
Ensure compliance with all necessary business licenses and permits.