FINANCIAL LEAD MASTERPEACE
MasterPeace is a global, multi-award-winning, positive grassroots network of NGOs, social enterprises, partner organizations, active citizens and artists that make a difference locally; at school, in the streets and in the communities. From Kathmandu, Nairobi and Utrecht to Medellin. MasterPeace is active in more than 45 countries. Through a social franchise model we license local organizations as MasterPeace clubs.
The FInancial Lead of MasterPeace is responsible for leading the financial management of the organization.
The financial management includes planning, organization, control and monitoring of the financial resources of the organization to achieve its goals.
Location: Bulgaria
The financial management at MasterPeace achieves the following:
Maximizes the efficient and effective use of the organization’s resources.
Enhances MasterPeace’s reporting to fiscal authorities and donors.
Builds respect and trust among partners and beneficiaries.
Strengthens MasterPeace’s competitiveness in securing increasingly scarce resources.
Ensures long-term financial sustainability for the organization.
Key Responsibilities
1. Strategic Financial Management
Responsibilities:
Develop and implement financial policies and procedures aligned with strategic objectives.
Lead budgeting, forecasting, and financial planning processes across the organization and projects.
Raise and manage resources efficiently to support key activities.
Collaborate with leadership to ensure long-term financial viability, including planning to cover current and future expenditures, as well as incidental costs.
Provide strategic financial guidance to secure the organization’s financial sustainability.
2. Financial Compliance and Reporting
Responsibilities:
Ensure compliance with financial regulations, donor requirements, and legal obligations regarding revenue and expenditure management.
Prepare accurate financial statements and reports for both fiscal authorities and donors, improving transparency.
Coordinate audits, manage relationships with auditors, and strengthen internal control systems.
Update liquidity forecasts and monitor cash flow to maintain financial health.
Maintain up-to-date records to ensure reliable reporting and strengthen trust with partners and beneficiaries.
3. Operational Financial Management
Responsibilities:
Oversee accounts payable/receivable, payroll, and benefits administration, ensuring legal compliance in financial transactions.
Manage financial details of contracts and agreements with co-applicants and third-party partners.
Provide financial analysis to support resource planning and decision-making at the project level.
Monitor and update liquidity schemes, ensuring that payments to suppliers and co-applicants are timely and accurately executed.
Regularly review and analyze the financial pipeline, updating the MP dashboard accordingly.
4. Project and Budget Management
Responsibilities:
Oversee the creation, implementation, and monitoring of budgets at both the organizational and project levels.
Manage donor funds and ensure adherence to grant requirements, ensuring that funds are used effectively for their intended purposes.
Support project managers by providing financial data and analyses to improve budget and expenditure management.
Update financial forecasts based on project progress, including HR and Out-of-Pocket expenses, and coordinate payments.
Ensure revenue/expenditure management is efficient, optimizing the economic impact for the organization.
5. Risk Management and Financial Viability
Responsibilities:
Identify, assess, and minimize financial risks to ensure the organization’s financial stability.
Regularly analyze revenue and expenditure forecasts, ensuring that the organization can cover both current and future expenditures.
Create cost-cutting strategies if liquidity forecasts fall below acceptable thresholds.
Ensure financial sustainability by securing adequate future revenues and reserves for incidental costs.
6. Stakeholder and External Partner Management
Responsibilities:
Manage relationships with external partners (e.g., auditors, payroll service providers, tax authorities) to ensure compliance and accurate reporting.
Support fundraising and income generation efforts by providing necessary financial data and analysis.
Manage financial aspects of contracts, co-applicant agreements, and grant agreements, ensuring all obligations are met.
Engage with third-party partners to ensure that financial audits and external reporting requirements are completed efficiently.
7. Leadership and Team Management
Responsibilities:
Lead, supervise, and mentor finance staff to ensure efficient financial operations.
Provide training and financial guidance to program and project managers to enhance their understanding of financial management.
Facilitate collaboration within the finance team to ensure smooth execution of financial responsibilities.
Lead discussions on monthly financial bookings, ensuring all teams are aligned on financial forecasts and liquidity.
8. Control and Audit
Responsibilities:
Coordinate and support audits, ensuring all legal, donor, and internal requirements are met.
Maintain strong internal controls to safeguard organizational assets.
Prepare for regular board meetings, presenting liquidity and dashboard overviews.
Facilitate the creation of financial year reports, signed by board members and co-leaders, ensuring compliance with legal and audit requirements.
Requirements
Bachelor’s degree in Finance, Accounting, or related field.
Professional certification (e.g., CPA, CMA) preferred.
Minimum of 5 years of experience in financial management, preferably in the non-profit sector.
Strong knowledge of non-profit accounting principles and practices.
Experience with grant management and donor reporting.
Proficiency in financial software and Microsoft Office Suite.
Excellent analytical and problem-solving skills.
Strong attention to detail and accuracy.
Ability to communicate complex financial information clearly.
Experience in budgeting, forecasting, and financial planning.
Knowledge of financial regulations and compliance requirements.
Strong organizational and time management skills.
Ability to work independently and as part of a team.
Experience in managing audits and working with external auditors.
Strong interpersonal and communication skills.
Commitment to the mission and values of the organization.
Ability to handle confidential information with integrity.
Experience in developing and implementing financial policies.
Proven track record of managing financial risks.
Ability to mentor and develop finance staff.