Senior Accountant/Finance Officer

Background about the Employer

Finance for Jobs Consulting Services (F4J-CS) is a Private Limited Company, based in Ramallah, with investment capital from local and international investors, and is responsible for performance management of impact investments aimed towards contracting and overseeing Service Providers that provide youth employment services for Palestinian youth aged 18 to 29, in the West Bank and Gaza, with a minimum 30% female representation.

This impact investment is in the form of a Development Impact Bond (DIB), an outcomes-based contract that F4J-CS holds with DAI Global (DAI) that implements the Finance for Jobs (F4J) Project on behalf of the Ministry of Finance and Planning (MoFP), and with funding from the World Bank (WB).

Through DAI, the WB and the MoF (as Outcome Funders) will repay F4J-CS if, and only if, the services succeed in achieving the targeted job outcomes, that will be verified by an Independent Verification Agent (IVA). Those proceeds will be used to fund on-going operations and repay investors.

The DIB’s four investors are: Palestine Investment Fund (PIF), European Bank for Reconstruction and Development (EBRD), FMO, the Dutch Entrepreneurial Development Bank, and the Chilean-Palestinian Diaspora Investment Fund “Semilla de Olivo”.

Brief about the position

This is a full-time position, based in Ramallah, with an expected start date in October 2022 that will work closely with the DIB team, under the direct supervision of the DIB Executive Director.

Key responsibilities

1. Accounting/Bookkeeping

• Manage company bookkeeping and maintain its accounting records in line with approved accounting standards and have them ready for external auditing,
• Prepare monthly bank reconciliations,
• Payroll management for staff, including benefits management, income tax, etc.,
• Work with external auditors to get Financial Statements audited and follow up on any audit queries/ management letters.

1. Tax Management

• Prepare all Tax calculation and payments to respective authorities, including income taxes due on payroll, local and foreign consultants, contractors, etc.
• Coordinate with the external Tax advisor on all Tax matters, and follow-up with tax authorities regarding all tax types, whether income, VAT, etc.
• Obtain all needed tax clearances for all tax types, including corporate tax and valid Deduction at Source.

1. Financial Management and Reporting

• Prepare and manage financial forecasts (budget and cash flow), on a monthly and quarterly basis (or as needed), and coordinate with technical staff to forecast outcomes claim payments and expenditures for cash-flow management,
• Prepare financial periodic reports (monthly/ quarterly/ annually), including Profit & Loss statement, Cash Flow, Balance Sheet, etc. and help prepare board reports,
• Monitor performance against financial performance indicators in cooperation with DIB staff,
• Support board reporting, Financial Modelling, and annual business planning.
• Support Services Providers on compliance, financial reporting requirements, and cash flow management for the DIB results-based payment systems.
• Help DIB team maintain appropriate internal controls,

1. Due Diligence & Compliance

• Support the DIB team to conduct Due Diligence and compliance assessment of current and new Service Providers pipeline,
• Help ensure SPV compliance with investors requirements and Outcomes Contract,
• Help SPV comply with internal operational, procurement and financial manuals and policies,
• Maintain a robust system for internal controls.

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Required Skills & Experience

• Bachelor’s Degree in accounting or a related field.
• A minimum experience of 4-5 years in a similar position, preferably with the Private Sector.
• Proficiency in Microsoft Excel.
• Proficiency in accounting systems, preferably Bisan.
• Ability to undertake a variety of activities with a substantial degree of personal responsibility and autonomy, within the team.
• Excellent time management and prioritization skills.
• Accuracy and attention to detail.
• Interpersonal and Team working skills, and strong Stakeholder Relationship Management skills
• Excellent written and oral communication and interpersonal skills.

Interested candidates should email their CV and cover letter explaining why you are qualified to fill this role.

Please send your emails to: [email protected], with the title “F4J-CS Vacancy” in the subject line, no later than Monday, October 1st, 2022. Only short-listed candidates will be contacted.