Chief Accountant

                                                                           TERMS OF REFERENCE

POSITION INFORMATION

Job Title: Chief Accountant

Duty Station: Yaoundé, Cameroon

Reports to: Managing Director

Term of office: 3-year contract renewable after annual evaluation.

Probationary period: 3 month probationary period with possibility of extension.

Language required: English and French.

Expected start date: As soon as possible

ABOUT PRIMA MFI

Prima Finance & Investment Plc. is a growing microfinance institution (MFI) in Cameroon with a mission to provide sustainable financial services to the poor to help them lift themselves out of poverty. To achieve this, we offer products and services – savings, insurance, money transfer, payments, loans and education (SIMPLE). The company specializes in providing innovative financial services to those who have traditionally been excluded from the formal financial services sector in the country. These are typically the poor and very poor, the self-employed, small business owners and community organizations who lack funding to expand their businesses or for other investments. Thanks to our cutting-edge technology and strong management team, Prima Finance & Investment Plc.offers services that surpass those of many other MFIs in Cameroon.

JOB DESCRIPTION

He/she will be responsible for providing strategic leadership in business and financial planning, monitoring, management and reporting, including the development of policies, systems and processes that would protect financial resources and lead to the achievement of set goals and objectives.

MAIN RESPONSIBILITIES

• Ensure to work closely with the MM to ensure that an appropriate financial policy framework is in place to guide financial decision making in terms of clarity on revenue, profits, costs and investments and forward planning.

• Accounting, reporting and portfolio management

• Record Isidro’s activity, including income, expenses, disbursements, reimbursements and other transactions, on a monthly basis.

• Perform periodic reconciliation of Isidro Investments’ balance sheet and related income and expense accounts. Calculate the relevant provisions; prepare and record related journal entries. Perform financial analysis to review discrepancies in accounts and follow up to investigate discrepancies.

• Prepare monthly, quarterly and annual financial statements for Isidro, including income statement, balance sheet and cash flow statement. In close collaboration with General Finance, reconcile the financial activity with the banking systems in accordance with the service agreement between PRIMA and the other partners. Coordinate with an external fund administration firm to ensure compliance with accounting standards.

• Assist internal and external auditors with requests for financial information and supporting documents.

• Prepare disbursements and other cash payments for Isidro, in coordination with the PRIMA Treasury team.

• Develop template and prepare quarterly reports on investment performance (downstream), for PRIMA and other investments, including third party funds. Track portfolio company performance and key disbursement, repayment and reporting dates as outlined in each loan (or other investment) agreement.

Investment analysis and financial modeling 

• Support initial due diligence (including business plan review, financial model analysis, and coordination of social impact assessment) for CRS impact investment opportunities, such as demand.

• Build and manage financial models to support the analysis of contemplated impact investment opportunities, including small and medium enterprises and investment vehicles.

• Draft investment memoranda and support the negotiation and execution of transactions for impact investment opportunities.

• Perform PRIMA’s country risk assessments and your clients’ knowledge assessments of Isidro’s partners and investees, as well as other CRS impact investing opportunities.

Research and tools

• As needed, support in-depth and in-depth market research and analysis for target countries and sectors of interest

• Undertake targeted research and marketing efforts to support the development of a pipeline of new social investment business opportunities.

• Continuously improve and refine internal tools and processes, including financial models, due diligence checklists, and opportunity identification resources

General

• Documents financial transactions by entering account information.

• Recommend financial actions by analyzing accounting options.

• Summarizes current financial situation by gathering information, preparing balance sheet, income statement and other reports.

• Justifies financial transactions by verifying documents.

• Maintains accounting controls by preparing and recommending policies and procedures.

• Guide accounting office staff by coordinating activities and answering questions.

• Reconciles financial discrepancies by collecting and analyzing account information.

• Secures financial information by performing database backups.

• Maintains financial security by following internal controls.

• Prepares payments by verifying documentation and requesting disbursements.

• Respond to accounting procedure questions by researching and interpreting accounting policies and regulations.

• Complies with federal, state and local financial legal requirements by studying existing and new legislation, enforcing requirements and advising management on necessary actions.

• Prepares special financial reports by collecting, analyzing and summarizing account information and trends.

• Maintains customer confidence and protects transactions by keeping financial information confidential.

• Maintains professional and technical knowledge by participating in educational workshops; review of professional publications; establish personal networks; participate in professional societies.

• Fulfills the result by performing the duty.

• Contributes to team effort by achieving related results as needed.

General

• Documents financial transactions by entering account information.

• Recommend financial actions by analyzing accounting options.

• Summarizes current financial situation by gathering information, preparing balance sheet, income statement and other reports.

• Justifies financial transactions by verifying documents.

• Maintains accounting controls by preparing and recommending policies and procedures.

• Guide accounting office staff by coordinating activities and answering questions.

• Reconciles financial discrepancies by collecting and analyzing account information.

• Secures financial information by performing database backups.

• Maintains financial security by following internal controls.

• Prepares payments by verifying documentation and requesting disbursements.

• Respond to accounting procedure questions by researching and interpreting accounting policies and regulations.

• Complies with federal, state and local financial legal requirements by studying existing and new legislation, enforcing requirements and advising management on necessary actions.

• Prepares special financial reports by collecting, analyzing and summarizing account information and trends.

• Maintains customer confidence and protects transactions by keeping financial information confidential.

• Maintains professional and technical knowledge by participating in educational workshops; review of professional publications; establish personal networks; participate in professional societies.

• Fulfills the result by performing the duty.

• Contributes to team effort by achieving related results as needed.