Finance Manager

Job Description

Mennonite Economic Development Associates (MEDA) invites applications for a Finance Manager to join our dedicated and talented team in Africa on our mission to create business solutions to poverty!

MEDA’s work is built on a foundation of Mennonite business roots and faith-based values, within the global context of the UN Sustainable Development Goals. We believe business solutions are effective interventions to address poverty. Through a market-systems approach and strategic partnerships, MEDA enables access to finance and provides business and technical expertise to build transformative agri-food market systems that create decent jobs, allowing traditionally excluded groups to become active participants in a sustainable economy. MEDA welcomes all who share our values and want to join us in our mission. To find out more about MEDA, please visit our website at www.meda.org.

The Mastercard Foundation Africa Growth Fund is a Fund of funds established to catalyze risk capital through Investment Vehicles (IVs) with a Gender Lens Investing approach. The Fund seeks to enable female-led and gender-diverse, African-owned, African-led, and based Investment Vehicles to fund and provide value creation support to growing Small and Medium Enterprises (SMEs) in sub-Saharan Africa.

The overall objective of the Fund, through this means, is to create dignified and fulfilling work for women and youth on the continent. It functions as a catalytic fund, leveraging other investors, providing access to risk capital and business development services (BDS) to African IVs and their portfolios of SMEs.

See more information here: Mastercard Foundation Africa Growth Fund

Position summary

The Finance Manager (FM) role on the Mastercard Foundation Africa Growth Fund has two key workstreams of responsibility:

The Fund program – Financial management and reporting on the periodic and overall program budget and expenses, Contract administration and prompt payments to partners and vendors, Forecasting program funding needs for liquidity control, and providing regular and timely reports on the Fund program to MEDA, its governing bodies and the Mastercard Foundation; and

Supervising the Finance and Administrative officer (F&A Officer) role to deliver its job description, including: accounting transactions, analyses and reporting as well as Administrative functions of the Fund Team, Activities and the Accra office. (The F&A Officer job description will be provided).

The role will report into the Managing Director (“MD”) of the Fund, with matrix reporting into the Global Finance Director (GFD) of MEDA, working closely to ensure standardization, transparency and accountability in the Fund’s financial procedures, processes and reporting. The role will be broadly responsible for financial planning and budgeting for all the Fund’s programs and initiatives. The incumbent will work closely with MEDA’s Corporate Finance Manager and the Fund team to deliver the functional activities of the role.

Job Status: Full-time, starting in February 2025 to March 31, 2027
Location: Accra, Ghana | Nairobi, Kenya |  Dakar, Senegal
Reporting Manager: Managing Director with matrix reporting to Global Finance Director (GFD)
Language Skills: fluency in written and spoken English (fluency in French is an added advantage).

Responsibilities

Financial Management and Reporting (35%)

• Prepare accurate and timely financial reports, including income statements, balance sheets, and cash flow statements for review and clearance by the MD and GFD, with follow on presentations to MEDA’s Executive
• Leadership Team (ELT), for the further use of the MEDA governing bodies: MEDA Canada and other MEDA entities as needed. Separately the FM will also prepare reports and budget presentations to the Mastercard Foundation as the donor to the Fund program.
• Ensure compliance with financial regulations, accounting standards, and donor reporting requirements across the countries of operation of the Fund program.
• Monitor program expenditures, track milestones, and ensure compliance with donor requirements and value for money.
• Provide detailed financial and accounting information and supervise the activities and reports of external auditors to ensure timely and error-free financial audits and reviews.
• Ensure to maintain the required accounting documentation and
  record-keeping to support financial transactions and compliance
  with MEDA and the Donor.

Contract and Vendor Management (15%)

• Contract management – work with the Fund Director roles to ensure the Fund partners and other service providers deliver value for money according to their contract deliverables, timelines, and propose revisions as needed.
• Supervise the Finance & Administrative Officer on Vendor management – ensuring each vendor is properly procured and timely payments effected according to MEDA Policies and
  procedures.

Financial Strategy, Policies and Budgeting (15%)

• Provide input into the development of MEDA’s financial strategies, policies, and procedures.
• Prepare annual budgets, forecasts, and financial plans in collaboration with the Fund’s technical team.
• Monitor budget performance, analyze variances, and provide reports with recommendations for corrective actions.
• Ensure efficient allocation of financial resources to support programmatic activities.

Investment Cash Flow Management and Disbursements (15%)

• Collaborate with MEDA’s Snr. Director, Corporate Finance to provide and monitor capital disbursements due and timelines
• Monitor cash flow, forecast liquidity needs, to ensure the availability of funds for capital investments and program operations,
• Process capital calls for payment approval.
• Communicate financial performance, capital commitment and disbursement trends and updates, with suitable recommendations to the MD for onward transmission to MEDA ELT and Governance entities.

Risk Management and Internal Controls (10%)

• Based on MEDA Corporate’s risk management strategies and procedures: Identify, assess, and mitigate financial and operational risks associated with the Fund.
• Ensure effective internal controls are maintained to safeguard assets and ensure the integrity of financial operations.
• Monitor compliance with organizational policies, donor requirements, and legal regulations.
• Provide training and guidance to staff members on financial procedures, controls, and compliance matters.

Team Leadership and Collaboration (10%)

• Supervise and mentor the Finance and Administrative officer, providing guidance and support to their performance and growth on the job.
• Consult and work with the Fund MD to build and maintain strong relationships with relevant stakeholders of the Fund, including the Finance counterpart at the Mastercard Foundation.

Any other duties and/or requirements as assigned

Requirements

 Education: Bachelor’s in Finance/Accounting, Business or Economics with a suitable accounting certification is preferred.

Experience

• Proven experience in financial management of Programs.
• Exposure to impact investing, other investing and or PE/VC Fund management industry is a plus
• Strong knowledge of financial analysis, budgeting, and investment principles.
• Familiarity with donor-funded projects and grant management processes.
• Proficiency in financial software and systems, such as accounting software and grant management platforms.
• Excellent analytical and presentation skills and attention to detail.
• Strong communication and interpersonal skills to collaborate with diverse stakeholders.
• Ability to work in a dynamic and fast-paced environment, managing multiple priorities and deadlines.
• Commitment to the mission and values of MEDA and the impact investing sector

Job Requirements for All MEDA Staff

Organizational Policies and Procedures

• Ensure and adhere to all MEDA management, professional, finance, audit, legal, human capital, security, corporate and other policies as required
• Prepare quarterly and other required internal reports and planning documents
• Complete and participate in all training as required

Organizational Culture

Appreciation, understanding and commitment to MEDA’s mission of creating business solutions to poverty
Demonstrate MEDA’s Core Performance Values: Collaboration, Respect, Entrepreneurship and Accountability