CORPORATE FINANCE MANAGER – The National Commission on Research, Science and Technology (NCRST)

VACANCY

ABOUT THE NCRST:
The National Commission on Research, Science and Technology (NCRST) is a State-Owned
Enterprise established in terms of section 4 of the Research, Science and Technology Act, 2004
(Act no. 23 of 2004) with a primary role of promotion, coordination and development of Research,
Science, Technology and Innovation in Namibia.
The NCRST hereby invites applications from suitably qualified individuals to apply for the
following position:

POSITION: MANAGER: CORPORATE FINANCE
JOB PURPOSE:

The primary function of this position includes, but not limited to developing, managing, and
establishing the framework for the management of assets and cost in order to continuously monitor
spending patterns, variances, ratios, and budgeting approaches and recommend and implement
improvements in resource utilization; enforce uniformity, standardization and corporate governance
principles, enable efficient consolidation of financials; guide and coach colleagues and general
managers in best financial practices so that legal accountability is ensured; produce, analyze and
report/advise on monthly & annual consolidated financial statements and optimize financial
resources (loans, assets, insurance, and cash flow) at organisational level.
KEY PERFORMANCE AREAS:
1. Financial management
• Reviews the organisation’s accounting practices and ensures overall compliance of all
accounting practices to IFRS. Also ensures overall financial policy compliance and the
implementation of controls in the organisation.
• Plans the implementation of systems, processes and controls, and coordinates these at both unit
level and company level.
• Ensures that financial statements are prepared and ready for annual external audit.
• Completes quarterly financial reports on the organisation’s performance.
• Reviews the accuracy of the monthly reconciliation of accounts as performed by the accountant.
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• Ensures adherence to GAAP and IFRS, and consistency in the application of these and other
principles.
• Ensures that all relevant staff members are fully informed about changed and new policies and
procedures/and guidelines.
• Reviews all statutory submissions (e.g. VAT returns, Social Security, Pension funds etc.) for
accuracy and correctness.
2. Financial controls
• Takes all required steps to ensure that the general ledger integrity is maintained and that all
reconciliations are properly done.
• Scrutinises the company’s cash flow on a daily basis and consults / requests directives from the
immediate superior to ensure adequate cash balances.
• Reviews current assets and liabilities and introduces such controls to ensure that working
capital is optimally utilized. This includes the collection of receivables on time, and payment of
payables as per agreed terms.
• Identifies and implements all requirements regarding asset management required under the
IFRS.
• Compiles a monthly report regarding asset control and submits this to the immediate superior.
3. Financial statement preparation
• Reviews and signs off all general ledger reconciliation accounts.
• Conducts spot checks to ensure that all accounting entries have proper supporting
documentation and that the appropriate procedures have been complied with.
• Reviews and approves monthly Payroll runs after input from the Human Resources Unit.
• Reviews the General Ledger Balance Sheet Control Accounts.
• Disseminates monthly management accounts to unit managers and discusses areas of concern
and remedial action with them.
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4. Costing
• Guides the units on the implementation of costing parameters and monitors the implementation
of such parameters.
• Scans the external environment for the best practices in the costing of services, benchmarks the
organisation’s practices and reviews the sustainability for implementation.
• Identifies potential areas of rationalisation (e.g. vehicle usage in hi-tech/low maintenance areas,
outsourcing possibilities, materials usage parameters, etc.).
• Investigates such areas and recommends solutions/remedies that add real bottom-line value.
5. Procurement and tender administration
• Continuously reviews the organisation’s procurement policies and procedures and updates and
amends such policies and procedures where required.
• Ensure the organisation compliance with the procurement Act.
• Identifies all risk areas (e.g. supplier fraud, employee fraud, and internal / external fraudulent
collaboration on supplies) and ensures the implementation of measures that will minimise risk
through the Procurement Officer.
• Conducts spot checks on transactions done to ensure full compliance of all staff members to the
approved policies and tender procedures.
• Reviews tenders submitted and prepare analysis thereof, including a risk analysis, and
formulates recommendations to the tender committee for discussion and effective decision
making.
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6. Internal and external audit
• Consults with and provides the required assistance to the internal auditors to ensure that the
internal audit cycles are complete.
• Consults with and directs the external auditors to ensure that fiscal year audits are completed.
• Verifies and signs off all relevant reconciliations and schedules.
• Reviews the comprehensive half-yearly and annual audit files as prepared by the Senior
Accountant.
• Implements audit recommendations.
7. Insurances and Reinsurances
• Reviews the current insurance portfolio of the Organisation and identified areas in which the
existing cover is inadequate.
• Advises on levels of reinsurance required given the claims pattern of the Organisation.
• Provides input (through the relevant financial advice) into the negotiations regarding the terms
and conditions of reinsurance with reinsurance providers.
8. Staff Management
• Monitors activities of staff to ensure compliance with laid down procedures, policies and
practices, with particular regard to integrity, security and confidentiality of the Finance unit.
• Reviews the work done by direct subordinates through progress discussions. Monitors the
progress made by the immediate subordinates and coordinates and directs their activities
towards achievement of the objectives and targets of the division.
• Identifies training needs amongst subordinates and provides technical training and other
guidance where relevant.
MINIMUM EDUCATIONAL QUALIFICATIONS AND EXPERIENCE:
• Bachelor’s degree in accounting, Finance, or Business Administration. NQF Level 7.
• completed articles and postgraduate qualifications will be an added advantage.
• Seven (7) years of relevant working experience of which three (3) years should have been at a
supervisory level.
SKILLS AND ATTRIBUTES REQUIRED:
• Highly analytical with good communication skills (able to get concepts and requirements across to
others).
• Very strong logical reasoning ability, attentive to detail but not detail bound.
• Systematic and able to look at solutions conceptually as well as from a practical perspective.
• Good managerial and organisational skills.
• Sound communication and interpersonal skills.
• Understanding of business economics, cost structures, budgeting systems, and financial reporting.
• Familiarity with relevant government legislation and administration procedures
• Knowledge of legal regulations and directives, financial administration (GAAP), ICT systems.
• Intermediate computer literate Skills (MS office package) specific Excel.

CONDITIONS OF EMPLOYMENT:
• This is a Five (5) years contract position with an employment agreement.
• NCRST is an equal-opportunity employer.