Financial Accountant at Mpatamanga Hydro Power Limited

MANDATE

The Financial Control Accountant, under the supervision of the Corporate Affairs Manager, will play an active role in the Corporate Affairs department for the Mpatamanga Hydropower Project Limited (MHPL) also referred to as “the Project”.

The Project is to be undertaken in compliance with Malawi national legislation and Good International Industry Practice including (IFC PS, WB ESF, AfDB, Equator Principles 4 and IFRS accounting standards).

The Financial Accountant is responsible for the Financial Accounting for the company following accounting principles and standards to ensure that it complies with all relevant regulations, laws, and reporting requirements. They follow and improve established policies and guidelines to accurately maintain the organization’s financial records and transactions in compliance with Malawian laws and regulations, MHPL policies, lender and investor reporting requirements.

CORE RESPONSIBILITIES

✓ Manage data entry in the Accounting Software on day-to-day basis; prepares journals, ledger entries, ensures correct postings, monthly accruals and amortization of prepayments

✓ Lead the month end close process and preparation of monthly management accounts, variance analysis and cashflow forecasts, within the defined timelines with appropriate analysis to report to the investors, lenders and other stakeholders

✓ Perform accounting controls including bank account reconciliations

✓ Understands how contract obligations translate into financial commitments, accruals and other relevant financial records of company assets and liabilities

✓ Prepare financial statements and notes to the accounts as well as the and analytical review

✓ Execute independent audits in preparation for full year statutory audits to foster continuous improvement and adapt policies where appropriate

✓ Works closely with independent auditors preparing schedules for the annual audit and providing all necessary information for compliance and statutory audit

✓ Support budget holders in supplier invoice validation in keeping with financial control good practice on an ad hoc basis

✓ Support periodic budgeting with relevant financial accounting information

✓ Organised and logical physical and digital filing of cost documentation in collaboration with Management Accountant

✓ Maintenance of the financial system and acting as a superuser in coordination with the Management Accountant to (general ledger codes, supplier codes, cost centres, foreign exchanges rates and workflows) reflect business requirements

✓ Keep up to date with Malawian and international IFRS tax and accounting rules, best practice and guidelines through continuous professional development ensure adherence to MHPL financial policies, IFRS and local laws

✓ Highlight financial risks and propose appropriate mitigations to ensure a robust internal control environment

✓ Support the Corporate Affairs Manager to ensure invoicing and payments made are timely by accurately recording in the financial system aged payables, proper coding and bank reconciliation

✓ Verify accuracy of invoices and ensure proper allocation and classification of expenditures to expense categories.

✓ Processes and tracks travel advances and advance settlement in compliance with travel and expense policy

✓ Responsible for filing finance records and ensuring compliance with best practice document and file retention policy

✓ Monitors staff vacation and manages the overtime/ timesheet submission in order to provide accurate information for the Corporate Affairs Manager for payroll

✓ Perform other finance duties and responsibilities as assigned.

CRITICAL INTERFACES

• The Financial Accountant will work closely with the Management Accountant and Procurement and Permits Coordinator to provide an integrated procurement and financial processes that provide accurate and insightful financial and management information

• Financial Accountant will have a key interface role across the organisation supporting good financial control, guiding on correct recording of financial data and robust evidence for all costs

QUALIFICATIONS

• Bachelor’s degree in Accounting, Finance, Business Administration, or related fields or other relevant discipline or qualified by experience

• Skills level passed for ACCA or CIMA.

• Intermediate MS Office Applications (MS Excel, PowerPoint).

• Knowledge of SAGE or other accounting systems an advantage

• At least five years of work experience in the private, international organisation and/or NGO sector .

• Very good knowledge of legislation related to accounting standards

• Working in a multi-cultural context and on large infrastructure projects in Malawi an advantage

• Fluent in written and spoken English and Chichewa and excellent English report-writing skills.

CORE COMPETENCIES

• Work independently and as part of a team to meet deliverable on time and to high quality

• Accuracy and attention to detail to produce accurate reports and maintain supporting documents

• Monitoring and evaluation capabilities to improve process

• Excellent reporting and presentation skills.

• Ability to use good judgment and professionalism; experience in decision-making

• Excellent analytical skills

• Excellent communication and organization skills are required

• Good problem-solving mindset, results-driven and good technical accounting knowledge (IFRS) & Companies Act.

• Strong skills in internal controls and accounting standards

PERSONAL CHARACTERISTICS

• Demonstrated high level of interpersonal and communication skills.

• Hard-working, proactive, and self-motivated.

• Personal and professional integrity and commitment to ethical business practices.

• Ability to work under pressure and be solution oriented.

• Excellent communication, collaboration, and teamwork skills.

• High social and intercultural competence.