Head of Finance and Accounting at Mastercard Foundation

Head of Finance and Accounting at Mastercard Foundation. Please make sure you read the job requirements before applying for this position.

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.

We are recruiting to fill the position of:

Job Title: Head of Finance and Accounting

Location: Lagos

The Work at the Foundation

• We have entered a very exciting time at the Foundation as we scale up our operations across Africa to realize our Young Africa Works Strategy. Our role at the Mastercard Foundation is to be a catalyst. Our Young Africa Works strategy focuses on working with others to spur systemic change so young people have the opportunity to find work that is dignified and fulfilling.
• The Foundation has opened offices in Rwanda, Kenya, Ghana, Senegal, Ethiopia, Nigeria and Uganda, building a broader leadership presence in Africa to develop specific strategies that support youth employment.  Within a country, we work with governments, the private sector, educators and other funders to improve the quality of education and vocational training, prepare young people for the work force, expand access to financial services for entrepreneurs and small businesses, and connect job seekers to dignified and fulfilling work.
• We are ambitious and driven. Our values transcend and rise above everything else as our guide. We encourage you to bring your bold ideas, curiosity, and expertise to your work. We laugh at ourselves and with each other. We are a team. Our journey together makes our impact even more meaningful.
• If you are an experienced Finance and Accounting professional looking to increase your impact, read on!

The Opportunity

• The head of finance and accounting will be the primary business partner for the Country Head, Providing Financial leadership and stewardship for all Finance and Accounting operations within the country.
• The role is responsible for financial management of all programs undertaken within the country.
• This role provides direction to local finance and accounting teams to effectively manage the foundation’s financial matters, building the accounting, finance, and operations infrastructure in Country as part of a multi-year growth strategy.

Ways You Can Contribute

• Responsible for the management of 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, financial reviews, and program completion for all programs within country scope.
• 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, spend and cash flow projections.
• Ensure the managements grants systems and project financial trackers are updated in a timely & Accurate manner with the correct financial information for each program.
• Ongoing monitoring & reporting on program financial performance post kick off (Deliver phase) to ensure foundation resources are deployed as envisaged and there are sufficient funding & financials controls in place to support the delivery of 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, 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.
• Coordinate the close-out of partnerships after the end of the contract period.
• Perform & review due diligence procedures on partners & sub-contractors (i.e., evaluating financial statements, tax returns, financial capacity, watchlist screening) 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).
• 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 finance 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.
• Ensure that the partners have the right information to support decision making including but not limited to: Cash Forecasts, envelop disbursements and commitment outlook, Programmatic actual spend analysis.
• Play an advisory role in provision of information that enables the programs teams to make effective decisions.
• Provide monthly financial reporting and analysis to Head of Finance & Accounting, Region, Program leads and to the Country Head of Programs on program expenses, partner disbursements, cash flow projections, value for money, and other ad hoc reports as needed.
• Report status updates to Head F&A Africa/Region and providing ad-hoc support
• Participate in the budgeting, planning & forecasting cycles of the foundation through the provision of financial information as maybe required.
• Responsible for ensuring the appropriate internal controls and financial procedures & policies within the Country are implemented and operating as intended together with the accounting teams & Regional Head.
• Ensure that the Purchase to Pay cycle within the country is implemented and operating as designed and act as the first point of contact/customer service to country teams as required for matters pertaining to accounting.
• Provide support to the centralized accounting team in matters of tax accounting and ensure are appropriate processes are in place to ensure compliance to tax regulations together with the Foundation’s centralized accounting function.
• Provide support to the centralized accounting function for annual audits with independent auditors and regulatory agencies as required.
• Embed a risk management culture within the Country as well as manage local insurance coverage and policies and other risk mitigation protocols are in place together with the Country Head.
• Coordinate and manage implementation of operational activities within the Country/Country in partnership with The Head of Technology, Head of Security, Facilities & Travel, and other Operational functional heads to ensure smooth day-to-day operations on the ground.
• Lead and Manage program Finance teams and their works within the country.
• Coordinate with the Canada accounting team to assist tax and audit procedures (e.g., tax filings, year-end closing, annual audit.
• Build, support and/or manage relationships with external parties such as vendors, banks, local tax authorities, payroll service providers and legal counsel.
• 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.

Who You Are

• University degree in accounting or a related field. MBA an asset.
• At least 13-15 years in progressively senior financial roles within large and/or global organizations, with at least 10 years in a management capacity (Previous Finance Leadership experience).
• Experience sitting at the leadership table of a country or regional organization.
• Experience interfacing and operating with senior executives in public, government, and private sectors.
• Experience building capabilities and capacity of accounting and operations teams in high growth organizations.
• Basic Appreciation: Operate Accounting Systems, Generate Routine Accounting Records and Financial Reports.
• Working Knowledge:
  • Determine and apply correct accounting treatments.
  • Able to Identify & Mitigate Operational, Financial and Business Risks.
  • Manage Operational Internal Control Systems, processes, and Policies.
  • Financial Processes & Accounting Operations Management.
• Management & Financial Reporting including Financial Forecasting & Budgeting.
• Demonstrated people management and leadership capabilities in a fast-growing organization.
• Ability to assess risks and exercise judgment in making important decisions (Risk Management & Internal Controls Management).
• Senior Partner management abilities: ability to influence senior executives internally and externally and manage the pressure of work.
• Ability to lead through complexity; lead enormous work volume, manage organizational risks, and recommend appropriate decisions.
• Demonstrated initiative and drive towards innovative problem solving.
• Honed business partnership skills with Impeccable integrity.
• Ability to assess risks and exercise judgment in making important decisions.
• Ability to challenge and provide feedback in a constructive manner with the goal of improving efficiency and operational excellence.
• Flexible, adaptable, and able to execute a range of job duties and changing priorities.
• Possess excellent verbal, written, and presentation skills with the ability to articulate information to a variety of constituents across cultures.
• Possess professional maturity, sensitivity with different cultures, and impeccable integrity.
• French language skills are an asset.

Application Closing Date
7th September, 2021.

Method of Application

Interested and qualified candidates should:
Click here to apply online