Job Vacancy – Finance Manager

Vacancy Announcement 

Terms of Reference 

Job title: Finance Manager

Grade and Salary: Manager Level 2, commensurate to expertise and experience starting from Nu.40,000/- Other benefits and allowances shall be as per the existing Rules and Regulations of the Loden Foundation.

Organizational Context:

The Loden Foundation is a registered civil society organization under the CSO Act, 2007 in March 2010. The Foundation is dedicated to fostering an enlightened and happy society through the promotion of education, social entrepreneurship and Bhutan’s culture. Loden main programmes include:

  1. Promotion of Education and Learning
  2. Development of Social Entrepreneurship
  3. Preservation of Bhutan’s Culture and Tradition

Task Summary:

The Finance Manager shall be responsible for the overall financial management of the Loden Foundation and shall be competent and willing to manage all accounts, carry out financial planning and budgeting, forecast and projections, investments and analyses, make presentations and write financial reports.

Duration: Two years renewal contract, full time (at least 40 hours a week with flexibility to work overtime)

Responsibilities (Subject to Change):

Accounts Management:

  1. Supervision of the activities of the Finance Officer
    1. To ensure the accounts are updated regularly and on a timely basis so that the financial position of Loden Foundation is always up-to-date.
    2. To ensure all transactions are recorded as per Loden’s requirements.
    3. To ensure there are no mistaken, untenable, and fraudulent transactions.
  2. Carry out or approve all account reconciliation including bank accounts
  3. Ensuring all bank balances are invested in bank deposit accounts to maximize returns
  4. Presenting monthly management accounts to the ED
  5. Preparing cash flow projections for next 12-36 months for presentation to the Executive Director/Board of Trustees
  6. Preparing budgets for the next 12 month period
  7. Ensuring the chart of accounts is efficient and any superfluous accounts are removed promptly
  8. Provide budget for project proposals
  9. Ensuring that the version of Quick Books used is always up to date and that the FO has the appropriate skills set (Quick Books on cloud)
  10. Supervising routine financial activities such as settlement of payment of wages and salaries et
  11. Reviewing and ensuring that LF’s accounting policies and practices are both suitable and complaint with the requirements of the Royal Audit Authority (RAA)
  1. Liaising as required with RAA and any auditor retained
  2. Be one of the authorized signatories on bank accounts

LOAN Book Management:

  1. Supervising the Loden Entrepreneurship Programme (LEP) Programme Officer to ensure that the loan book is managed effectively, ensuring suitable reports are prepared monthly for presentation to the ED/Board showing arrears, steps taken to collect, referral to the court
  2. Accompanying the LEP Programme Officer as necessary to visit entrepreneurs where careful consideration is required
  3. Discussing with LEP Programme Officer applications made by Entrepreneurs who seek extension of terms and making any recommendation to the ED/Board as may be required by LF’s rules
  4. Discussing in detail with LEP Programme Officer and ED any referrals to Court
  5. Ensuring with LEP Programme Officer that disbursement of new loans is managed efficiently and in particular whether or not it is appropriate to advance second or third installments
  6. Developing with LEP Programme Officer IT-based solutions to minimize physical visits but also to ensure Loden Foundation has excellent visibility of the Entrepreneurs and their activities
  7. Supervising the effective operations of the loan management software, for reviewing its fitness purpose, including non-financial information such as no of employees, and coordinating with the Financial Officer to ensure it is fully up-to—date at all times and reconciled to Quick Books
  8. Reviewing each month the output from the loan management software
  9. Coordinating and reviewing reports from mentors and discussing content and quality of those reports, and follow-up action as necessary

General Management

  1. Being responsible for the interaction of the auditor and the auditing process
  2. Reporting outcome of audit processes to the ED/Board
  3. Responsible for producing and publishing financial reports
  4. Ensuring publicly available information is appropriate and that published accounts meet international standards of presentation
  5. Being fully aware and able to explain all aspects of LF’s financial affairs to the team/ED/Board/partners as appropriate
  6. Having responsibility for the efficient and effective operation of LF’s financial function

Educational responsibilities and promotion of Loden 

  1. Participate in LF’s activities to promote entrepreneurship including developing and presenting course materials with the financial aspect to it in Loden educational events
  2. Initiate or help the ED initiate educational and entrepreneurial events in consultation with the ED
  3. Develop suitable record keeping for each of the LF’s beneficiaries at the time the loan is provided
  4. Provide support and guidance to Loden entrepreneurs as required and as approved by the ED
  5. Take part in LF’s activities as instructed by the ED including lobbying of RGoB, RMA, Ministries and funding agencies

Qualification:  

  1. Should have substantial (approximately 5 years) experience in financial management, analysis and reporting
  2. Competency in Quick Books accounting software will be great advantage

Personal qualities:

  1. Effective team player
  2. Able to exhibit leadership and gain the trust and respect of the entire Loden team and its stakeholders
  3. Articulate with ability to make presentations or at least able to have an effective supporting role
  4. Be prepared to travel within Bhutan as necessary
  5. Some commitment to social work and public benefit

Candidates must submit applications with CV, names and contact details of two referees before 4:30 pm on 22 February 2019 by email to application@loden.org or submit a printed copy to the Loden Foundation, Dewakhangzang, Changlam, Thimphu. Contact the Administration Officer at 77194455 (during office hours) or email application@loden.org for any inquiry.

Only shortlisted candidates will be called for further round of selection.