Terms of Reference (ToR) for Regional Business Centers Finance Officer

Position Title: Regional Business Centers Finance Officer

Location: North Macedonia, Skopje

Duration: 36 months

Reporting to: Regional Business Centers Finance Officer

1. Background

Overall Objectives

Our primary objective is to enhance Roma inclusion in the Western Balkans and Türkiye by expanding socio-economic opportunities. This is pursued through two specific outcomes:

1. Enhanced Roma-owned business growth and innovation: By providing training, financial support, and networking opportunities, the REDI aims to boost the growth and innovation of Roma-owned businesses, thereby increasing their economic resilience and contribution to the local economy.
2. Strengthened multi-stakeholder collaboration on Roma inclusion initiatives: REDI seeks to improve the coordination and effectiveness of Roma inclusion efforts by fostering partnerships among governments, civil society organizations, and international agencies. This collaborative approach ensures that resources are effectively utilized and that policies are inclusive and sustainable.

Role of the Regional Business Centers Finance Officer

Within this context, the Regional Financial Officer plays a crucial role in overseeing the financial aspects. They are responsible for managing the budget, ensuring compliance with donor requirements, and providing financial oversight to ensure that REDI resources are used effectively and transparently. The Regional Business Centers Finance Officer role is key to ensuring that the REDI’s financial operations align with its overall objectives and that funds are strategically deployed to achieve maximum impact.

2.Objective

The Regional Business Centers Finance Officer is responsible for comprehensive financial management. This includes budgeting, financial reporting, compliance, and overseeing the financial operations across multiple regions. The Regional Business Centers Finance Officer will support and guide the field team, ensuring that financial practices are consistent and adhere to organizational and donor requirements.

3. Key Responsibilities

3.1 Financial Planning and Budgeting

• Develop and maintain budgets in close coordination with the Regional Business Centers Coordinator, Financial Manager, and other key stakeholders.
• Monitor budgetary performance ensuring that expenditures align with the budgets.
• Prepare budget forecasts, adjustments, and reallocations as necessary, providing timely recommendations to the Regional Business Centers Coordinator and the Financial Manager.
• Support teams in understanding and adhering to financial guidelines and budget constraints.

3.2 Financial Management and Reporting

• Oversee the financial operations, procurments, ensuring accuracy and timeliness in financial transactions.
• Coordinate the preparation and submission of financial reports to donors, (time sheets), management, and stakeholders as per the agreed schedule.
• Ensure that all financial records are maintained in an organized and accessible manner, compliant with organizational and donor policies.
• Reconcile accounts on a regular basis, identifying and addressing discrepancies promptly.

3.3 Compliance and Audit Preparation

• Ensure that all financial activities are conducted in compliance with organizational policies, donor requirements, and local regulations.
• Lead the preparation for financial audits, ensuring that all necessary documentation is available and that the financial situations are audit ready.

• Address audit findings by implementing corrective measures and improving financial processes as needed.
• Stay informed of changes in financial regulations and best practices, ensuring that the financial management remains current and compliant.

3.4 Coordination and Supervision

• Supervise and provide guidance to the team
• Ensure consistent financial practices and procedures across all regions, providing training and support to the assistants as needed.
• Coordinate regular meetings with the financial assistants to review financial performance, address challenges, and plan upcoming activities.
• Evaluate the performance of the financial assistants, offering feedback and professional development opportunities.

3.5 Risk Management

• Identify financial risks and develop strategies to mitigate them with the Financial Manager.
• Monitor and control project expenditures to prevent overspending or misallocation of resources.
• Ensure the safeguarding of project assets, including cash management, inventory control, and procurement processes.

3.6 Communication and Stakeholder Engagement

• Communicate financial information clearly and effectively to non-financial stakeholders, including project teams, donors, and partners.
• Collaborate with the Finance Manager and other team members to ensure alignment between financial management and project objectives.
• Provide financial input into project proposals, reports, and strategic planning processes.

4. Qualifications and Experience

4.1 Education

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. A master’s degree or professional certification (e.g., CPA, ACCA) is strongly preferred.

4.2 Experience

• A minimum of 3 years of experience in financial management, preferably within an international development context.
• Proven experience managing the finances of multi-regional EU projects with significant budgets.
• Demonstrated expertise in budgeting, financial reporting, and compliance management.
• Experience working with donor-funded projects and familiarity with donor-specific financial requirements.
• Prior experience supervising and coordinating financial teams across different locations.

4.3 Skills and Competencies

• Strong financial analysis and budgeting skills, with the ability to interpret financial data and make informed decisions.
• Excellent organizational and multitasking abilities, with a strong attention to detail.
• Advanced proficiency in financial management software and tools (e.g. Microsoft Excel).
• Strong leadership and team management skills, with experience in supervising and mentoring financial staff.
• Excellent communication and interpersonal skills, with the ability to explain complex financial concepts to non-financial stakeholders.
• High integrity and ethical standards, with a commitment to maintaining confidentiality and compliance.

5. Deliverables

• A comprehensive budget execution and financial plan updated as necessary.
• Timely and accurate procurments, financial reports, including monthly, quarterly, and annual statements.
• Audit-ready financial records and documentation, with successful audit outcomes.
• Regular performance evaluations and capacity-building plans for Financial and Administrative Assistants.

6.Performance Evaluation

The Regional Regional Business Centers Finance Officer’s performance will be evaluated based on:

• Accuracy and timeliness of financial reports and documentation.
• Effective budget management and alignment with the NGO objectives.
• Compliance with organizational policies and donor requirements.
• Successful support of local team
• Stakeholder satisfaction with financial management and communication.

7. Application Process

Interested candidates are invited to apply via e-mail. Please follow the steps below to submit your application:

7.1 Application Submission:

Aplications can be submmited to redimk@redi-ngo.eu, with the subject Regional Business Centers Finance Officer.

7.2 Required Documents:

• A detailed CV outlining your educational background, professional experience, and key achievements.
• A cover letter (maximum 2 pages) explaining your suitability for the position and your motivation for applying.
• Contact information for at least one professional references (optional).
  • Deadline for Applications:

Applications must be submitted no later than 30.06.2025.

• Selection Process:

• Shortlisted candidates will be contacted for an interview, which may be conducted virtually or in person.
• Final selection will be based on qualifications, experience, and fit with the project team and objectives.