Head of Finance Department

Job Title: Head of Finance Department

Employment Type: Full-time / Hybrid

Location: Istanbul, Türkiye

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Duties and Responsibilities:

Financial Affairs

First: Financial Planning and Budget Management

• Prepare the organization's annual budget in coordination with all departments, ensuring detailed planning, monthly reviews, and updates based on operational developments.
• Monitor budget implementation and ensure adherence to the approved budget.
• Prepare analytical reports comparing financial performance against the approved budget.
• Analyze budget variances (Budget vs. Actual - BVA) and prepare monthly financial reports.
• Analyze cash flow and operational efficiency to identify financial strengths and areas for improvement.
• Prepare accurate financial reports and ensure timely submission for projects, organizational needs, and relevant stakeholders.

Second: Accounting Systems and Financial Capacity Building

• Implement and maintain a unified accounting system covering all organizational expenses, including payroll.
• Organize the receipt and recording of revenues and donations in accordance with approved financial procedures.
• Document all financial transactions and ensure the accuracy of financial records.
• Review and approve payment requests in accordance with approved budgets and financial policies.
• Ensure that all financial transactions are supported by appropriate documentation.
• Monitor cash flow to maintain the organization's financial stability.
• Manage the organization's bank accounts.
• Monitor banking transactions and ensure reconciliation with financial records.
• Prepare periodic bank reconciliations to ensure the accuracy of financial balances.
• Monitor petty cash balances and ensure adequate cash on hand to cover operational expenses.
• Document all cash transactions and ensure compliance with organizational financial policies.
• Conduct periodic petty cash counts and verify the accuracy of related records.
• Manage currency exchange transactions in accordance with approved financial procedures.
• Supervise and train the Accountant on budget entries, expense recording, and periodic financial reporting using the approved accounting system.
• Develop a comprehensive Finance Department work plan, including task allocation, role definition, and internal coordination mechanisms.
• Complete monthly and annual financial closing processes in accordance with the approved financial plan.

Third: Compliance, Policies, and Auditing

• Develop, update, and maintain clear and practical financial policies that ensure:
  
  • Compliance with applicable local laws.
  • Compliance with donor requirements and regulations.
• Organize and supervise internal and external audits across all organizational offices.
• Maintain an effective financial control system that promotes transparency and accountability.
• Prepare accurate and certified financial reports for donors in accordance with grant requirements.
• Ensure compliance with laws and regulations governing international financial transactions.

Fourth: Segregation of Duties and Building an Institutional Financial Culture

• Train departments on their financial roles and responsibilities and raise awareness of financial Red Flags.
• Train teams on finance-related responsibilities within their scope of work while maintaining proper Segregation of Duties and avoiding duplication of responsibilities.
• Support the development of an organizational culture that promotes financial accountability and compliance.

Fifth: Grants – Financial Role Only

• Contribute to reviewing project budgets and financial reports for funded projects.
• Ensure that expenditures and financial reports comply with donor requirements.
• Review the eligibility of project costs (Allowable, Reasonable, and Allocable).
• Assess financial risks related to grant proposals and evaluate funding feasibility and sustainability.
• Review the financial sections of grant agreements prior to signature.
• Prepare cash flow forecasts for grants.
• Create separate accounting codes for each grant within the financial system.
• Archive financial records in accordance with document retention policies.

Legal Affairs

• Follow up on all legal matters related to the organization, including licenses, taxation, and regulatory requirements.
• Coordinate and communicate regularly with the organization's legal advisor(s).
• Follow up on legal matters related to employees.
• Draft and approve legally binding administrative templates used in documenting the organization's relationships with clients and partners.
• Manage and organize legal documents and records.
• Manage contracts, partnerships, and legal matters between the organization and external entities.
• Monitor legal and regulatory developments and provide recommendations and legal advice to management.
• Identify legal risks and propose appropriate mitigation measures. 

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Qualifications and Experience

• Bachelor's degree in Accounting, Finance, Business Administration, or a related field.
• Minimum of five (5) years of experience in financial management, preferably within non-profit organizations or donor-funded projects.
• Good knowledge of accounting systems such as QuickBooks or equivalent accounting software, as well as budgeting and financial reporting.
• Knowledge of donor requirements, grant management, and financial compliance.
• Familiarity with relevant laws and regulations, contract management, and compliance with local and international regulatory frameworks.
• Native in Arabic, advanced English, and Turkish.

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