Mennonite Economic Development Associates (MEDA) invites applications for a Finance Officerto support the Resilience and Inclusion through Investment for Sustainable Agrikultura (RIISA) initiative.
Background
Since its inception in 1953, Mennonite Economic Development Associates (MEDA)has been committed to local ownership and sustainable outcomes. MEDA is currently working in over 37 countries around the world. We use a business-oriented approach to local economic development that results in positive social, environmental and economic impact. We facilitate the development of sustainable enterprises that benefits women, men, and youth small scale producers, including those most marginalized within agri-food market systems. Our development values are wealth creation by adding value in managing human, financial and environmental resources; participation of those with whom we work - at all stages and levels of a project - regardless of gender, race, class, ethnicity, nationality, or religion; collaboration with others engaged in development to avoid duplication and competition; sustainability, both programmatically and environmentally; and direct investment in businesses that serve the poor.
With support from the Government of Canada, MEDA will implement “Resilience and Inclusion through Investment for Sustainable Agrikultura” (RIISA) in Philippines, covering Davao Region. This is a five-year project currently in the fourth year of implementation.
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.
About RIISA Project:
RIISA (Resilience and Inclusion through Investment for Sustainable Agrikultura) is a 5-year program targeting women and men cacao smallholder farmers (SHFs) in Mindanao. RIISA responds to multiple challenges in the Philippine cacao sector and draws on MEDA’s experience in market systems development, gender lens investing (GLI), gender equality and social inclusion (GESI), and environment and climate change (ECC).
Position Summary
The Finance Officer (FO) will serve as the contact person for grant recipients. In conjunction with the Technical Team, he/she will monitor grantee compliance over the life of the partner agreements and provide support and assistance on best practices in reporting, procurement and documentation as needed. He/she will also ensure that the grant documentation and financial records are accurate. The Finance Officer tracks all grants, books the required entries MEDA’s accounting software and participates in the closure of grants.
The FGO will also assist the Finance department in general finance and accounting functions including reviewing and analyzing records, reports, and management practices to ensure adequate internal controls are in place to mitigate risks in compliance with local labor laws, regulations, donor requirements and MEDA finance policies and procedures.
Job Status: Full-time, 1 year contract
Start Date: As soon as possible
Location(s): Davao City, Philippines
Key Accountabilities
Support Grants Management Work - Compliance documentation work – 70%
- Work with MEDA Finance and Grants Officer: Assist in the review of partners’ recordkeeping processes to ensure that all expenses claimed to the project are accurately documented according to the financial policies of MEDA and GAC.
- Conduct of on-site field visits with the MEDA partners, validation, and desk reviews to monitor the partners’ compliance on the management of funds.
- Monitor sub-recipient compliance with donor regulations and financial guidelines through site visits, desk reviews, and other mechanisms applicable to subrecipient monitoring. Recommend actions necessary to resolve issues/concerns.
- Regularly communicate financial monitoring visit findings with Market System Technical Lead and Finance Manager.
- Provide report of financial monitoring findings with recommendations and corrective action plans
- Follow through with action plans from previous monitoring with partners
- Support MEDA partners in the preparation of financial reports and documentation of expenses
Support on Financial Transactions and Financial Reporting – 30%
- Support the Finance and Grants Officer to ensure that the general accounting functions are completed on a timely basis
- Ensure proper coding and classification expenses as per the approved budget.
- Preparation of appropriate vouchers including correct accounting entries
- Timely recording and uploading of financial transactions into MEDA’s accounting software
- Undertake MEDA’s accounting software financial processes, journal entries, end month closure processes such as but not limited to bank reconciliation, fixed assets depreciation, etc.
- Assist Finance and Grants Officer in preparing the monthly, quarterly, and annual financial reports including various schedules to the balances in the financial statements
- Support the Finance and Grants Officer to process payments and ensure appropriate approvals and signing authorities are observed.
- Support the Finance and Grants Officer to ensure periodic filing of financial documents such as vouchers and supporting documents and manage them to facilitate efficient retrieval
Any other tasks as may be assigned by the supervisor.
Requirements
Education: Bachelor’s degree in accounting or management accounting
Experience: Minimum 3 years’ experience in accounting, finance and sub-grant management including with international projects
Competencies and Skills:
- Proven track record in evaluating and funding projects and good understanding of the donor/grant’s compliance
- Experience with international audit requirements
- Knowledge of Global Affairs Canada regulations, systems, and procedures for managing grants a plus
- Working knowledge of major donor funded operations, finance services and practices
- Knowledge of financial accounting software and computer skills in Excel, Word and other MS Office Applications
- Legally able to work in Philippines
This job description may be reviewed, revised, and updated as required to meet department and/or organizational objectives.
APPLICATION DEADLINE: January 2, 2025
Applications will be reviewed on a rolling basis when received. All employment decisions are made on the basis of qualifications and organizational needs. Only successful applicants will be contacted.
MEDA welcomes and encourages applications from all genders, backgrounds, religions, cultures, nationalities and abilities. Accommodation is available on request for candidates with disabilities taking part in the selection process.
