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 Head, Finance & Accounting, the Finance Lead will partner with the Country Program Leads 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). S/he will safeguard the Foundation’s Financial resources by maintaining a sound control environment, ensuring the programs comply with CRA regulations and providing stewardship on risk Management to their partners.
WAYS YOU CAN CONTRIBUTE
- Manage the full cycle of Finance program partner contracts, i.e. Expression of Interest (EOI), proposal, contract approval, conduct due diligence, budget reviews, program execution and monitoring, and program completion.
- Analyze financial performance against forecast and budget, investigate variances, communicate findings, and make 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 have sufficient funding in place to deliver the program’s objectives and outcomes.
- 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 developing and implementing comprehensive programming strategies.
- Provide ad-hoc data and support for learning and evaluation activities, including program outputs and value-for-money analysis.
- 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 & financial controls in place to support the delivery expected of program outcomes as well as ensuring compliance to the CRA requirements on books and records.
- Ensure the management grants systems are updated in a timely and accurate manner with the correct financial information for each program.
- Ensure there are adequate business controls with the programs to safeguard the foundation’s assets.
- Accountable for compliance with local and international financial regulations and requirements, e.g. Canada Revenue Agency standards, anti-money laundering and anti-terrorism laws, etc.
- Provide periodic reporting on partner finance matters as determined by the partner contracts and ensure follow-up action items are closed as required.
- Troubleshooting and management of financial issues that arise during program implementation.
- Lead comprehensive program assessment processes ensuring quality control of the plans (Accountable for the quality of the Due diligence assessment).
- Lead the organization's capacity assessments, especially those related to the financial capacity of potential partners.
- Drive annual due diligence review process and update yearly work plans with Program teams and partners.
- Perform due diligence procedures on partners (i.e. evaluating financial statements, tax returns, financial capacity, watchlist screening)
- Assess alignment with charity law (i.e., private benefit and charitable purpose rules) in coordination with the Legal & Compliance teams.
- Provide Financial Information & insights as pertains to program finance to support decision-making.
- Provide input into the Foundation's financial planning and budgeting routines within the required timelines and guidance provided by the Financial Planning & Analysis team.
- Provide Monthly financial forecasts on commitments and disbursements for assigned portfolios.
- Provide monthly financial reports on the status of the program portfolio including analysis and insights to support decision-making on resource allocation.
- From time to time manage analysts and interns who support them in delivering the program finance tasks; assign work and review outputs of the resources.
- Engaging and cultivating relationships with regional partners to ensure good governance and partner with the program teams to achieve the program's intended strategic objectives/outcomes.
- Any other tasks as may be required from time to time.
WHO YOU ARE
- Bachelor’s degree in Accounting; MBA is an added advantage.
- Professional accounting designation and a member of a relevant professional body.
- Minimum 10 years of progressive experience in financial roles within large and/or global organizations. Previous work in the development sector is an added advantage.
- At least 1-3 years’ experience in a management capacity, leading finance and teams of multiple technical competencies
- Working knowledge of:
- Financial Internal Controls Management.
- Financial reporting & Analysis experience, including Budgeting and Financial Forecasting.
- Advanced analytical, quantitative, and statistical skills.
- Financial modelling skills, along with an understanding of financial reporting and cash flow information
- Able to identify & mitigate Operational, Financial and Business Risks.
- Able to generate Routine Accounting Records and Financial Reports plus determine and apply correct accounting treatments, proficient knowledge of international accounting standards.
- Fluent in English and French is an added advantage.
- Strong organizational skills with detail orientation, good follow-through, and ability to work independently with minimal supervision.
- Able to exercise a high level of judgment in making decisions or recommendations based on analyzing data and deriving insights from the data.
- Good at problem-solving, results-driven, and self-disciplined, with a strong sense of teamwork and a common purpose to achieve ambitious goals.
- Proficient in MS Office applications, particularly Excel.
- Flexible, adaptable, intellectually curious, and open, you are comfortable with ambiguity, receptive to new ideas and willing to learn and change.
- Professional maturity, sensitivity to different cultures, and impeccable integrity that exemplify the Foundation’s values.
Deadline for Applications is May 16, 2024.
Mastercard Foundation (the “Foundation”) values and respects your privacy. By submitting an application for this opportunity, you hereby agree to the Foundation’s collection, use and disclosure of your personal information in accordance with its Privacy Policy (available at https://mastercardfdn.org/privacy/). Please note that the Foundation may share your personal information with third-party agencies that support the Foundation’s recruitment activities, and such third-party agencies may contact you directly regarding this opportunity. If you have any questions or concerns, please contact the Foundation’s Privacy Officer at the address indicated in its Privacy Policy.
The Mastercard Foundation values the unique skills and experiences each individual brings to the organization and we are committed to creating and maintaining an inclusive and accessible environment for everyone.
Completion of satisfactory business references and background checks are essential conditions of employment.
For more information and to sign up for the Foundation’s newsletter, please visit http://www.mastercardfdn.org/
Follow the Foundation on Twitter at @MastercardFdn
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