ABOUT MASTERCARD FOUNDATION
Mastercard Foundation seeks a world where everyone has the opportunity to learn and prosper. Through its Young Africa Works strategy and Canadian EleV program, the Foundation works with partners to ensure that millions of young people, especially young women, access quality education, financial services, and dignified work. Mastercard Foundation was established in 2006 through the generosity of Mastercard when it became a public company. The Foundation is independent with its own Board of Directors and CEO.
THE WORK AT THE FOUNDATION
We are currently in an exciting period at the Mastercard Foundation as we intensify the implementation of the Young Africa Works strategy, aiming to empower 30 million young people throughout Africa to access dignified and fulfilling employment.
To ensure the Foundation’s accessibility to our partners and program participants, we have established offices in Rwanda, Kenya, Ghana, Senegal, Ethiopia, Nigeria, and Uganda. These offices provide strong in-country support for the implementation of Young Africa Works. We collaborate with governments, the private sector, educators, and other funders to enhance the quality of education and vocational training, equip young individuals with the necessary skills for the workforce, expand access to financial services for entrepreneurs and small businesses, and facilitate connections between job seekers and meaningful employment opportunities.
Our values serve as our guiding principles, transcending and surpassing all other considerations. We wholeheartedly encourage you to bring your bold ideas, curiosity, and expertise to your work.
If you are an experienced Finance professional looking to increase your impact, read on!
THE OPPORTUNITY
Reporting to the Finance Director – Special Programs, the Finance Lead will partner with the DDI & RDP( Diversity, Disability and Inclusion and Refugees and Displaced persons Programs) teams in the management of the end to end financial programmatic processes (from Roadmap development to Deliver) to ensure that the programs are adequately funded to achieve intended outcomes (Budgeting) and that the funding is being utilized to deliver the intended outcome, partnering for appropriate risk management (Inc due diligence), Contracting, program monitoring & Reporting (that enables decision making).
The successful candidate will be based in Canada or one of our offices in Africa (Ghana, Senegal, Nigeria, Ethiopia, Uganda, Kenya, or Rwanda)
WAYS YOU CAN CONTRIBUTE
- Manage the full cycle of all financial aspects of programming, i.e. Expression of Interest (EOI), partnership selection, proposal development, contract approval, conduct due diligence, budget reviews, program execution, disbursements and monitoring, and program completion.
- Guide and train external program partners on all financial aspects of contract execution, including budgeting and reporting, due diligence, financial controls, and Canadian regulatory requirements.
- Provide financial expertise and advice internally to the Foundation’s Programs team on the development and implementation of comprehensive programming strategies.
- Provide ad-hoc data and support for learning and evaluation activities, including analysis of program outputs and value-for-money.
- Maintain accurate and timely financial documentation and data, and report on contract commitments, disbursements, and cash flow projections.
- Ongoing monitoring & reporting on program financial performance post kick off (Deliver phase) per agreed timelines to ensure foundation resources are deployed as envisaged and there are sufficient funding & financials controls in place to support the delivery expected program outcomes as well as ensuring compliance to the CRA requirements on Books and records.
- Ensure there are adequate business controls with the programs to ensure the safeguarding of the Foundation’s assets.
- Accountable for compliance with local and international financial regulations and requirements as pertains to the programs, e.g. Canada Revenue Agency standards, anti-money laundering and anti-terrorism laws, etc. within programs.
- Provide periodic reporting on partner finance matters as determined by the partner contracts and ensure follow up actions’ items are closed as required.
- Troubleshooting and management of financial issues that arise during program implementation.
- Analyzes financial performance against forecast and budget, investigate variances, communicate findings, and makes recommendations to programs and partners.
- Identify and provide financial advice including but not limited to funding terms, taxation, Accounting Standards, and other application regulations/legislation that may arise.
- Ensure timely disbursements for programs to ensure programs sufficient funding in place to deliver the program’s objectives and outcomes.
- Perform due diligence procedures on partners & sub-contractors (i.e. evaluating financial statements, tax returns, financial capacity, watchlist screening), identify gaps and ensure mitigations are in place to safeguard the foundation against financial and operational risks as well as ensure alignment to CRA requirements.
- Assess alignment with charity law (i.e., private benefit and charitable purpose rules) in coordination with the Legal & Compliance teams.
- Lead comprehensive program assessment processes ensuring quality control of the plans (Accountable for the quality of the Due diligence assessment that ensure risks are identified and mitigations plans are in place & are effective).
- Lead the assessment of the organization capacity together with the program finance teams especially as relate to the financials capacity of potential partners.
- Drive annual due diligence review process and updating yearly workplans with Programs teams and partners.
- Ensure programs comply with Canadian regulatory requirements (e.g., charitable purposes and private benefit), and international financial regulations (e.g. anti-money laundering and anti-terrorism laws etc.), escalating to Legal and Compliance team as required.
- Lead the risk assessment of a programs together with the program teams within the various Foundation frameworks to ensure the risks are correctly identified and risk mitigations are put in place and monitored to safeguard the Foundation.
- Provide Financial Information & insights as pertains to program finance to support decision making.
- Provide input into the Foundation financial planning & budgeting routines within the required timelines and guidance as provided by the financial planning & Analysis team.
- Provide Monthly financial forecasts on commitments and disbursements for assigned portfolio.
- Provide monthly financial reports on the status of program portfolio including analysis and insights to support decision making on resource allocation.
- Ensure the grants management systems is updated in a timely & Accurate manner with the correct financial information for each program.
- Engaging and cultivating relationships with partners to ensure good governance and partner the programs teams to enable the achievement of the intended strategic objectives/outcomes of the program.
- Any other tasks/Projects as maybe required from time to time.
WHO YOU ARE
- Bachelor’s degree in Accounting.
- Professional accounting designation and a member of a relevant professional body.
- Minimum 10 years’ experience in progressively senior financial roles within large and/or global organizations, leading significantly large budgets and scope of financial responsibility.
- Senior leadership experience that spans multiple territories/countries, cutting across various thematic areas in private, development sector and public environments.
- At least 7 years’ experience in a management capacity, leading finance, and teams of multiple technical competencies.
- Strong Analytical skills with a high level of attention to detail.
- Working knowledge of Financial Internal Controls Management.
- Financials Reporting & Analysis experience including Budgeting, Financial Forecasting.
- Problem solving skills and good influencing skills.
- Fluent in English, French is an added advantage.
- Able to Identify & Mitigate Operational, Financial and Business Risks.
- Demonstrated initiative and drive towards innovative problem solving.
- Honed business partnership skills with Impeccable integrity.
- Able to synthesis complex environments and data to assess risks and opportunities and able to exercise a high level of judgment in making decisions or recommendations.
- Results driven and self-disciplined, with a strong sense of team and common purpose to achieve ambitious goals.
- Proficient in MS Office applications, particularly Excel.
- Flexible, adaptable, and able to execute a range of job duties and changing priorities.
- Proven excellence in verbal, written, and presentation skills with the ability to articulate information to a variety of constituents across cultures and to distill complex information and data into accessible conversation and written pieces.
- Possess professional maturity, sensitivity with different cultures, and impeccable integrity that exemplify the Foundation’s values.
- You have a commitment to Mastercard Foundation’s values and vision.
Deadline for Applications is March 05, 2024.
Please apply on the official website using the link(s) below
Apply here
