Finance Contracts Associate Director
New York City (United States of America)
As a member for the program and Award Finance support team the Contracts Associate Director is responsible for leading all financial aspects of the pre- and post-award process for all contracts funded projects for his/her portfolio. This position coordinates contract compliance with IRC finance policies and procedures, standard methodologies, GAAP, FAR and applicable donor regulations and agreement terms. The incumbent is responsible for the implementation of ongoing systemic improvements in process and procedure, with regards to billing, revenue recognition, financial risk management, cash flow and fixed fee application and recovery, and improve the efficient use of IRC resources including the proactive identification and resolution of issues imposed by donors.
S/he will work closely with the AMU staff, Business Development, DDFs, RFDs, Technical Units and Award Finance support unit.
KEY AREAS OF ACCOUNTABILITY:
Contracts Financial Management
·Develop, implement and maintain consistent processes governing the sound management and analytics of the pre- contract and post contract processes ensuring sound financial stewardship of these resources and in compliance with the appropriate donor requirements.
·Represent Finance and proactively engage in the contract start-up phase of all commercial contracts with an estimated value of $1 million or more.
·Ensure that all fiscal matters are current relating to his/her contracts portfolio, including federal, state, other public and private contracts.
·Work closely with field offices and Technical Units to forecast spending plans to assess cash flow needs analyzing against payment by results metrics
·Review financial capacity assessments and the suitability of recommended special conditions to mitigate financial management risks relating to implementing partners.
·Track the contracts portfolios agreements and vital statistics in files and the award database.
·Prepare quarterly analytics report to Director Program and Award Finance support services for contract performance measurements along with recommendations which will improve performance and minimize errors.
·Develop, deploy, and maintain a system to track all agency contracts agreements and vital statistics in files and the award database.
·Maintain knowledge of and interpret applicable policies, statutes, regulations and procedures formulated by the IRC, state, federal government, World Bank, FCDO and other donors.
·Interpret and provide the bases for revenue recognition for contracts.
·Provide support to the budget holders in preparing budgets and costing for contracts proposals.
·Complete the financial close-out of all commercial contracts in accordance with IRC and donor requirements.
Donor Agreements, Reporting and Monitoring
·Keep current on all Contract funding regulations and accounting updates that affect budgeting and donor reporting.
·Prepare and submit USG Contract invoices and financial reports for the organization.
·Implement IRC’s contract billing system ensuring accuracy and reconciliation (expenses, and revenue recognition) before submission.
·Review of all final Contract financial reports before submission to donors in coordination with RFD and RGD and upload in OTIS.
·Review contracts receivable balances to ensure appropriate and timely follow up.
Technical Support, Training and Management
·Serve as the leader on the financial interpretation of contracts regulations.
·Provide quality leadership and services to operational teams identifying solutions and alternative mechanisms to meet donor contract requirements without compromising systems.
·Support contracts financial management training for IRCs staff.
·Understand and adhere to established Contracts financial policies and procedures.
·Deliver responsive service to IRCs staff on all questions related to contracts funding for his/her portfolio.
·Assist Field Offices in the assessment of their contracts management by providing ongoing feedback concerning performance.
·Bachelor’s Degree in Accounting, Finance, or equivalent - Master’s Degree, CPA or CA a plus.
·8+ years of progressive financial Contracts management experience in the non-profit sector.
·Demonstrated familiarity with GAAP and shown general knowledge of Fund Accounting.
·Previous work experience with a major general ledger software package – experience with MS D365 preferred.
·Confirmed knowledge of US Government (Federal Acquisition Regulations), World Bank, FCDO commercial contracts and European Union regulations.
·Excellent interpersonal skills, including the ability to communicate effectively in a multi-cultural environment and diplomatically manage collegial relationships.
·Solid organizational skills: the ability to be flexible and perform under pressure in a fast-paced team environment.
·Strong digital literacy: facility with MS Word, Excel, various accounting software, and email/internet software.
·Travel when needed.
The IRC and IRC workers must adhere to the values and principles outlined in IRC Way - Standards for Professional Conduct. These are Integrity, Service, Equality and Accountability. In accordance with these values, the IRC operates and enforces policies on Beneficiary Protection from Exploitation and Abuse, Child Safeguarding, Anti Workplace Harassment, Fiscal Integrity, and Anti-Retaliation.