Finance Lead at Mastercard Foundation: (Deadline 14 March 2022)

Finance Lead at Mastercard Foundation: (Deadline 14 March 2022)

ABOUT MASTERCARD FOUNDATION

Mastercard Foundation seeks a world where everyone has the opportunity to learn and prosper. Through its Young Africa Works strategy and Canadian EleV program, the Foundation works with partners to ensure that millions of young people, especially young women, access quality education, financial services, and dignified work. Mastercard Foundation was established in 2006 through the generosity of Mastercard when it became a public company. The Foundation is independent with its own Board of Directors and CEO.

THE WORK AT THE FOUNDATION

We have entered a very exciting time at the Foundation as we scale up our operations across Africa to realize our Young Africa Works strategy. Our role at the Mastercard Foundation is to be a catalyst. Our Young Africa Works strategy focuses on working with others to spur systemic change so young people have the opportunity to find work that is dignified and fulfilling.

The Foundation has opened offices in Rwanda, Kenya, Ghana, Senegal, Ethiopia, Nigeria, and Uganda, building a broader leadership presence in Africa to develop specific strategies that support youth employment.  Within a country, we work with governments, the private sector, educators, young people, and other funders to improve the quality of education and vocational training, prepare young people for the work force, expand access to financial services for entrepreneurs and small businesses, and connect job seekers to dignified and fulfilling work.

We are ambitious and driven. Our values transcend and rise above everything else as our guide. We encourage you to bring your bold ideas, curiosity, and expertise to your work. We laugh at ourselves and with each other. We are a team. Our journey together makes our impact even more meaningful.

UNDERSTANDING CANADA PROGRAMS AT THE FOUNDATION

The Foundation has begun working within Canada in partnership with Indigenous communities and post-secondary institutions to listen, learn, and best understand how we can act in meaningful ways. The EleV strategy was co-created with Indigenous communities, young people, and partners to enable 30,000 Indigenous youth to complete their education and transition to dignified work aligned with their values and aspirations.

As reflected in Canada’s Truth and Reconciliation Commission Calls to Action, education is a key driver of improved socio-economic well-being. Through building partnerships with Indigenous communities, we look to expand our initiative ultimately helping to support a generation of transformative Indigenous young leaders who will be change agents within their communities. We believe that by setting a bold target, we will encourage engagement across sectors and create momentum that will elevate the strengths and opportunities of Indigenous youth. In keeping with our approach, Indigenous communities and young people will be the drivers of this transformation. The program will promote innovations to address longer-term systemic change to achieve economic prosperity and social well-being within Indigenous communities.

The EleV team oversees current and emerging partnerships related to Indigenous education. Consistent with our overall vision and Youth Africa Works strategy, we will share learnings and opportunities to connect across the work of the Foundation. While operating in distinct contexts, the centrality of youth voice and vision, affirmation of culture and identity, and priority to enhance community capacity for self-determination are common threads upon which our work is strengthened and reinforced.

If you are an experienced finance professional looking to increase your impact, read on!

THE OPPORTUNITY

Reporting to the Head of Finance & Accounting, the Finance lead will be partnering the Programs teams in the management of the end to end Financial processes as pertains to large ($ Value or sector) and complex programs within a single territory (from Roadmap development to Deliver) to ensure that the programs are adequately funded and the funding is being utilized to deliver the intended outcomes. The role also partners the programs teams to ensure that the foundation assets are safeguarded against financial risks as well as ensuring regulatory compliance (CRA) within our programming approach as part of first line defense.

WAYS YOU CAN CONTRIBUTE

• Manage the full cycle of Finance program partner contracts, i.e. Expression of Interest (EOI), proposal, contract approval, conduct due diligence, budget reviews, program execution and monitoring, and program completion.
• Guide and train external program partners on all financial aspects of contract execution, including budgeting and reporting, due diligence, financial controls and Canadian regulatory requirements.
• Provide financial expertise and advice internally to the Foundation’s Programs team on the development and implementation of comprehensive programming strategies.
• Provide ad-hoc data and support for learning and evaluation activities, including analysis of program outputs and value-for-money.
• Maintain accurate and timely financial documentation and data, and report on contract commitments, disbursements, and cash flow projections.
• Ensure the managements grants systems is updated in a timely & Accurate manner with the correct financial information for each program.
• Ongoing monitoring & reporting on program financial performance post kick off (Deliver phase) per agreed timelines to ensure foundation resources are deployed as envisaged and there is sufficient funding & financials controls in place to support the delivery expected program outcomes as well as ensuring compliance to the CRA requirements on Books and records.
• Ensure there are adequate business controls with the programs to ensure the safeguarding of the foundation’s assets including compliance and financial reporting.
• Accountable for compliance with local and international financial regulations and requirements, e.g. Canada Revenue Agency standards, anti-money laundering and anti-terrorism laws, etc. within programs.
• Provide periodic reporting on partner finance matters as determined by the partner contracts and ensure follow up action items are closed as required.
• Troubleshooting and management of financial issues that arise during program implementation.
• Perform due diligence procedures on partners & sub-contractors (i.e. evaluating financial statements, tax returns, financial capacity, watchlist screening), identify gaps and ensure mitigations are in place to safeguard the foundation against financial and operational risks as well as ensure alignment to CRA requirements.
• Assess alignment with charity law (i.e., private benefit and charitable purpose rules) in coordination with the Legal & Compliance teams.
• Lead comprehensive program assessment processes ensuring quality control of the plans (Accountable for the quality of the Due diligence assessment that ensure risks are identified and mitigations plans are in place & are effective).
• Lead the assessment of the organization capacity together with the program finance teams especially as relate to the financials capacity of potential partners.
• Drive annual due diligence review process and updating yearly workplans with Programs teams and partners.
• Ensure programs comply with Canadian regulatory requirements (e.g., charitable purposes and private benefit), and international financial regulations (e.g. anti-money laundering and anti-terrorism laws etc), escalating to Legal and Compliance team as required.
• Lead the risk assessment of a programs together with the program teams within the various foundation frameworks to ensure the risks are correctly identified and risk mitigations are put in place and monitored to safeguard the foundation.
• Provide Financial Information & insights as pertains to program finance to support decision making.
• Provide input into the foundation financial planning & budgeting routines within the required timelines and guidance as provided by the Financial planning & Analysis team to support decision making.
• Engaging and cultivating relationships with partners to ensure good governance and partner the programs teams to enable the achievement of the intended strategic objectives/outcomes of the program.
• Any other tasks/Projects as maybe required from time to time.
• From time to time manage analysts and interns who support them in delivery of the program finance tasks; assign work and review outputs of the resources.

WHO YOU ARE

• Bachelor’s degree in accounting or another relevant qualification is required.
• Minimum 6 years of progressive experience in financial roles within large and/or global organizations. Previous work in the development sector an asset.
• Strong Analytical, problem solving and good Judgement & influencing skills with a high level of attention to detail.
• Working knowledge of Financial Internal Controls Management.
• Financials Reporting & Analysis experience including Budgeting, Financial Forecasting.
• Problem solving skills and good influencing skills.
• Fluent in English, French is an added advantage.
• Ability to Identify & Mitigate Operational, Financial and Business Risks.
• Able to generate Routine Accounting Records and Financial Reports plus determine and apply correct accounting treatments.
• Excellent communicator, (excellent verbal, written, and presentation skills) with the ability to articulate information to a variety of constituents across cultures.
• Results driven and self-disciplined, with a strong sense of team and common purpose to achieve ambitious goals.
• Flexible, adaptable, intellectually curious, and open, you are comfortable with ambiguity, receptive to new ideas and willing to learn and change.
• Able to formulate and develop a new or creative approach to a problem.
• Proficient in MS Office applications, particularly Excel.
• Flexible, adaptable, and able to execute a range of job duties and changing priorities.
• Possess excellent verbal, written, and presentation skills with the ability to articulate information to a variety of constituents across cultures.
• Possess professional maturity, sensitivity with different cultures, and impeccable integrity that exemplify the Foundation’s values.
• Demonstrate a commitment to Mastercard Foundation’s values and vision.

Deadline for Applications is March 14, 2022.

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