Finance Officer

Job Description:

The Finance Officer is responsible for managing the financial operations of TEC, ensuring accurate financial record-keeping, and supporting the financial planning and analysis functions. This role involves preparing financial reports, managing budgets, overseeing transactions, and ensuring compliance with financial regulations. 

Responsibilities:

Financial Management: 

• Oversee day-to-day financial operations, including accounts payable and receivable, payroll, and general ledger. 

• Ensure timely and accurate processing of invoices, payments, and receipts. 

• Maintain detailed and accurate financial records in compliance with TEC policies and regulatory requirements. 

Budgeting and Forecasting: 

• Assist in the preparation of annual budgets and financial forecasts. 

• Monitor budget performance and provide regular updates to the Director and other stakeholders. 

• Analyze variances between actual results and budgeted figures and recommend corrective actions. 

Financial Reporting: 

• Prepare monthly, quarterly, and annual financial statements and reports. (Statement of Activities AKA Income Statement, Statement of Financial Position AKA Balance Sheet, Cash Flow Statement, Budget vs Actual Report, Audit Report, Project Financial Report, Expense Analysis Report) 

• Provide financial analysis and insights to support decision-making by TEC’s leadership team. 

• Ensure timely submission of financial reports to leadership team and other stakeholders. 

Compliance and Audit: 

• Ensure compliance with financial regulations, accounting standards, and TEC’s internal policies. 

• Coordinate and support external and internal audits, including preparing required documentation and responding to auditor inquiries. 

• Implement and maintain effective internal controls to safeguard TEC’s assets and ensure accurate financial reporting. 

Fundraising Support: 

• Collaborate with the fundraising team to develop and implement fundraising strategies. 

• Provide financial data and analysis to support fundraising proposals and grant applications. 

• Ensure accurate tracking and reporting of funds raised and their allocation. 

• Prepare financial reports for donors, showcasing the impact and utilization of their contributions. 

• Assist in organizing fundraising events by providing financial oversight and support. 

Financial Planning and Analysis: 

• Conduct financial analysis to identify trends, opportunities, and risks. 

• Support strategic planning initiatives by providing financial projections and scenario analysis. 

• Assist in evaluating the financial viability of new projects, programs, and initiatives. 

Cash Management: 

• Monitor and manage TEC’s cash flow to ensure sufficient liquidity for operational needs. 

• Optimize the use of TEC’s financial resources. 

• Prepare cash flow forecasts and provide recommendations for improving cash management. 

Grant Management: 

• Oversee the financial management of grants and funding received by TEC. 

• Ensure compliance with grant requirements and timely reporting to donors and funders. 

• Coordinate with program managers to monitor grant budgets and expenditures. 

Qualifications: 

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. 

• Professional certification (e.g., CPA, CMA) is preferred but not required. 

• Minimum of 3 years of experience in financial management, accounting, or a related field. 

• Experience in a nonprofit or membership-based organization is an advantage. 

• Familiarity with financial regulations and accounting standards applicable to nonprofits.