Manager Finance

1 week ago

Islamabad, Islamabad, Pakistan Karandaaz Pakistan Full time

This role will be in the Finance Department and the reporting line under Chief Financial Officer (CFO).

About Us

Karandaaz Pakistan is a not-for-profit organization, based out of Islamabad, registered with the Securities and Exchange Commission of Pakistan under Section 42 of the Companies Act 2017. The entity has been seeded by the Enterprise and Asset Growth Programme of the UK's Foreign, Commonwealth & Development Office (FCDO) and our digital finance initiatives are being funded by the Gates Foundation.

Karandaaz is guided by the vision of Investing for Shared Prosperity, and driven by the mission to enhance the capabilities of the financial and digital ecosystem through investments, innovations, and strategic partnerships for inclusive, green, and sustainable growth.

Position Summary

This position leads the Finance Operations of Karandaaz Pakistan. Finance Manager would be expected to ensure strong internal controls, increase efficiency in the day-to-day operations of the Finance Team and ensure accurate and timely preparation of reports for management, board, and sponsors. The incumbent would be expected to ensure compliance with the company's Accounting Manual, IFRS/IAS, and Taxation laws and recommend improvements in policies and SOPs where required.

The ideal incumbent for the position would be someone with the ability to lead and manage the team, mentor and coach junior staff, and be able to create a high-performing/engaged team driven by integrity and accountability.

Job Responsibilities

Financial Management and Reporting

  1. Ensure strong financial management processes.
  2. Ensure timely submission of financial reports to the CFO.
  3. Oversee payroll preparation, approval, and disbursement.
  4. Ensure timely deposit of taxes to the Government treasury.
  5. Book all financial transactions in Financial Management System to ensure smooth month-end and annual closing.
  6. Maintain reporting of Fixed Assets along with reconciliation of General Ledger to Fixed Asset Register.
  7. Ensure quarterly reconciliation of Withholding Tax (WHT) of salaries and keep track of all WHT statements submitted with FBR during the year.
  8. Prepare and submit all internal and external reports after consultation with the CFO.
  9. Review of financial reports submitted by the grantees for data validation.
  10. Liaise with internal and external auditors.
  11. Preparation of quarterly and annual financial statements of the company based on applicable IFRS/IAS etc.
  12. Preparation of consolidated financial statements of the company on quarterly and annual basis.
  13. Liaison with the ERP system developer to ensure timely development/customization of multiple financial reports on need basis.

Budgeting, Taxation & Employee Provident Fund Management

  1. Ensure that work plans are in liaison with funds allocated by the donor and their respective agreements.
  2. Create organization-wide budget including operating cost, capital expenditure, and program cost etc.
  3. Collaborate with all departments to understand their budgetary requirements.
  4. Administer capital expenditure and split budget donor-wise, as per their respective accountable Grant agreements.
  5. Oversee budget versus actual cost and identify variances.
  6. Ensure availability of funds for operational and program payments.
  7. Facilitate Procurement and Program teams with tax-related queries in new contracts. Share queries with Tax Consultants for their expert opinion.
  8. Recommend amendments to existing Contracts of user/Procurement departments if there are any changes in direct/indirect taxes.
  9. Support employees with Employee Provident Fund (EFP) withdrawal requests.
  10. Oversee team for EPF book maintenance and audits. Review audit reports for effective closure of observations.
  11. Any other task assigned by the supervisor to ensure optimum performance of the Finance department.

Education & Experience

  1. Minimum Masters Degree in Finance/MBA/Chartered Accountancy or ACCA required.
  2. Minimum 5 years of experience in the field of Finance operations.

Knowledge, Skills & Abilities

  1. Understanding of a not-for-profit organization, preferably experience of working at a Section 42 company.
  2. Understanding of donor management and expectations. Experience of FCDO funded projects would be a plus.
  3. Understanding of the financial sector and an appetite to learn more.
  4. Knowledge of reputable financial MIS such as Oracle Fusion, Dynamics etc.
  5. Understanding of Treasury, Taxation, and EPF.
  6. Excellent command over IAS/IFRS.
  7. Expert level skill in Microsoft Office (Excel, Word, PowerPoint) and Google Suite.
  8. Planning and organization skills.
  9. Relationship management.
  10. Conflict management & problem-solving abilities.
  11. Ability to handle high-pressure situations.
  12. Ability to lead, coach, and mentor a diverse team of people.

Culture and Values at Karandaaz

Karandaaz Culture is guided by our values of Integrity, Diversity, Entrepreneurship, Appreciation and Learning Acumen (IDEAL). These values shape our choices on what we do and how we do it, both with colleagues internally and partners externally. We also believe that we are all responsible for creating a great place to work and are constantly looking to hire individuals who bring the same level of passion and commitment to the purpose of the organization.

If you believe in the Karandaaz vision and values and feel excited about the work we are offering, please send us your application for this position.

Karandaaz is an equal opportunity employer and encourages applications by all population groups.

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