Project Accountant, Programme Management Unit at Genesis Analytics

Job Requirements
ROLE DESCRIPTION

Project Accountant

• Genesis Analytics is hiring! We are searching for an exceptional Project Accountant for our PMU team, based in Johannesburg, South Africa. As a key player in our global impact firm, you will manage all financial aspects of complex donor-funded projects, focusing on accuracy, grant compliance, and financial reporting. If you are a detail-oriented master who thrives in a fast-paced, dynamic environment where your work directly translates into meaningful global change - we want to talk to you.

Key responsibilities:

Project Finance Management Support

• Monitor financial administration of projects to ensure consistency with commercial and grant financial requirements and Genesis’ commercial strategy.
• Provide practices with monthly financial reports as required in terms of LOE, actual project costs, burn rates, etc, ensuring that the financial reporting can be carried out appropriately.
• Monitor the disbursement of funds to subgrantees according to approved budgets.
• Support the project manager in the review of financial reports submitted by subgrantees and assess budget compliance.
• Assist in the development of new financial procedures to better support the delivery of projects, including managing budget trackers, burn rates reporting and other tracking tools.
• Set up and maintain budget tracking on all projects - monitoring, reporting, and analysing budget variances.
• Manage cashflow projections and reports.
• Assist with client project audits and end of year audits.
• Prepare advances, sales invoices, work-in-progress, assist with credit control, and process purchase invoices.
• Ability to interpret tax invoices and compliance to tax requirements in South Africa and other countries.
• Liaise with the Finance department on any issues and necessary changes in processes.
• Consolidate financial information of all projects in the closing phase, ensuring no discrepancies or violations of commercial agreements have occurred.
• Keep project finance records and provide assistance in financial reporting as requested.
• Ensure that all invoicing is completed with the agreed upon timelines.

 Finance Support

• Support the Corporate Finance team as needed on queries on the projects. 
• Participate in relevant Finance meetings.

Other Responsibilities

• Educate and promote the staff’s understanding of financial processes and policies.
• Assist with induction of new joiners
• Other tasks as agreed

REQUIREMENTS:

• Genesis consultants carry a balanced combination of powerful intellect, strong technical skills, and a consulting character to match. 

Successful candidates for roles at Genesis:

• Are passionate, self-motivated problem-solvers
• Value integrity and exhibit ethical behaviour
• Are analytical thinkers and fast learners with an excellent academic record
• The successful candidates will thrive in a fast-paced environment, enjoy the flexible nature of the job, and like to hit the ground running. You are pro-active and hands-on, with the ability to not only work effectively as part of a team, but also to motivate the team and ensure they can excel. 

You are likely to have:

• Bachelor's degree in finance, accounting, or a related field 
• At least 1 year of experience in grant management, financial management and accounting, preferably in the context of donor funded projects
• Ability to work effectively in cross-functional teams
• Ability to prioritize and handle multiple tasks under tight deadlines
• Collaborative and strong communication skills
• Proven ability to work well in a fast-paced environment with a solutions-driven attitude.
• Excellent organizational skills and attention to detail
• Proficient in Microsoft Office Suite and accounting software
• Fluent in English, both written and verbal

ANNEX: SPECIFIC TASKS THROUGHOUT THE PROJECTS LIFE CYCLE:

Project Initiation

Budget loading and split:

• Split the budget down according to fiscal reporting periods using internal tracking documents
• Calculate estimated direct staff for the project personnel for dashboard projection 
• Load budget on Intacct according to fiscal period
• Request the ERP team to create General Ledger accounts for the grants, interest account, and forex and gains account
• Conduct debarment checks and verification for personnel and subcontractors against who will be paid by the project

Bank accounts management:

• Open three bank accounts for the project: a Cheque Account, a USD Account, and a 48-Hour Account
• Allocation of funds to all three bank accounts
• Request the Head of Finance to link the bank to Intacct

Invoicing preparation:

• Prepare invoice amounts 
• Request CTCs from the Commercial Team and populate invoicing rates for new personnel added to the project

Project Execution 

• Project suppliers and subcontractors management:
• Collect supplier sheets and BEE/payment documents for the new subcontractor
• Keep supplier BEE information up to date
• Add new supplier accounts on Intacct
• Call new supplier for verification
• Load new supplier on the bank and send for review before being authorised 
• Review subcontractor/supplier contracts to be able to monitor the budget allocated 
• Capture project supplier invoices on Invoices and allocate them to various General Ledger accounts
• Prepare supplier/subcontractor payment
• Submit all supplier payments batches for independent review before loading on Intacct for payment authorisation
• Allocate supplier payments as per the remittance and reconcile debit orders to the supplier statements and invoices
• Collect supplier statements and reconcile them to the age analysis 
• Process any necessary accounts payable correction journals for approval by the Group Financial Manager
• Handle supplier queries and manage subcontractors 
• Ensure that all relevant documentation is kept up to date on the Project Finance Drive and Project Drive
• Attend supplier Aging meetings led by the Group financial controller to identify any outstanding suppliers and attend to any action required 
• Update the Project expenses tracker on the status of payments
• Download and save Proof of payments 
• Process subcontractor accruals at year-end
• Monitor project expenditures, maintain accurate records, and suggest cost-effective strategies.
• Present financial updates in regular project meetings, ensuring transparency and alignment with objectives.

Project cashbooks and payments:

• Ensure that all cashbooks are reconciled every month
• Process staff claims and supplier payments for the project, including sundry expenses
• Process project reconciliation correcting journals and any other additional journals to be approved by the Head of Finance
• Prepare bank revaluations at month-end
• Oversee the processing of payment requests, reconciliation of advances against actuals, and review of receipts and timesheets

Subgrantee grant and finance management:

• Review of subgrantee's application budget template
• Confirm the pre-grant inquiry process if it did take place under compliance
• Conduct a due diligence process on the financial aspect 
• Develop project-specific financial reporting tools in line with donor requirements
• Monitor and disburse payments for milestones, ensuring adherence to the agreed budget
• Ensure donor expenditure regulations compliance
• Review Subaward Financial Reports
• Conduct training sessions for subgrantees to ensure they understand and adhere to reporting guidelines
• Draft, review, and approval of subgrant agreements along with Project Manager
• Support RFP development and scoring criteria
• Manage subgrantee’s invoice submission and provide updates on their progress performance 
• Advise subgrantees on relevant client and Genesis Analytics operational policies and procedures related to their awards and work with subgrantees to address capacity needs identified in the pre-award process and document improvements
• Provide ongoing support and training to subgrantees on financial and grant management best practices
• Collaborate on subgrant agreements, ensuring adherence to policies, and support budget reviews.
• Compile subgrantee financial reports for prime to be submitted to the donor

Project accounting: 

• Attend project performance and invoicing meetings
• Allocate project invoice to the donor account
• Manage cashflow projections and monitoring
• Ensure compliance with donor expenditure regulations
• Liaise with prime/donor on queries and requirements
• Keep up to date with the terms and conditions of the contracts
• Provide financial inputs and insights on project deliverables
• Prepare the order book for the project
• Convene order book projection meetings
• Track budget to actual spending
• Budget updates and maintenance
• Keep project reconciliations up to date
• Ensure that the latest rates are accurately updated in Intacct
• Update Project Manager on the project performance on a monthly basis
• Track the project’s profitability and keep relevant stakeholders up to date
• Provide Quarterly Financial Performance Reports, dashboard, and suggestions to relevant stakeholders (Project Director, Project Manager) on the performance of the project
• Prepare grant reconciliation to determine the amount due to Genesis on a monthly basis and initiate transfer of funds from the Project Account 
• Manage financial planning, budgeting, and forecasting processes
• Monitor and manage project expenditures against budget, ensuring cost-effectiveness and identifying any variances
• Work closely with Compliance and Project Manager to draft, negotiate, and finalize subgrant agreements, ensuring compliance with client and Genesis Analytics policies
• Donor financial reporting
• Prepare an invoice and send it to the client, follow up for payment

Project annual reporting:

• Request annual reports from subgrantee prior reporting period
• Assist with writing the report on the narrative document in the budget information section
• Set up meeting with Project Director and Project Manager to discuss the projections for the following prior writing of the project progress report
• Prepare financial report for donor 
• After submitting the reports to the client, update the budget on Intacct

Project Closure: 

Project close-off execution:

• Ensure the budget is utilized before the project close-off date
• Review financial reports from subgrantee for donor/client consolidated reporting
• Prepare and submit financial reports to donors/clients, ensuring accuracy and compliance with donor requirements
• Close off General Ledger accounts and bank accounts
• Ensure the project is closed on Intacct to avoid time and expense being captured

No cost extension (NCE) if applicable:

• Update budget allocation to NCE if approved
• Update budget on Intacct 
• Calculate estimated direct staff for the project personnel for dashboard projection for the NCE period
• Update project profitability estimation 
• Update Intacct dates to align with NCE dates
• Save amendment contracts on the drive