Controller 

Organization Summary:

Shuraako Capital is an international NGO whose mission is to provide growth capital and support services to small- and medium-sized enterprises in fragile and conflict-affected settings. We currently manage the Nordic Horn of Africa Opportunities Fund, a $28 million Sharia-compliant debt fund in Somalia, and are preparing to expand in the Horn of Africa and francophone west Africa. Shuraako Capital believes that, with the right support, small and medium-sized enterprises can be a driving force for peace and prosperity in their countries.   

Job Type:

Full-time

Compensation: 

The hiring range for this position is $5,500 to $7,500 per month. 

Reports To:

Vice President, Horn of Africa

Location:

This position is located in Nairobi, Kenya and will require travel within the Somali region and Horn of Africa. 

 

Primary Responsibilities: 

The Controller leads the accounting team in providing critical decision support at all levels of the organization through accounting, financial reporting, and other financial modeling. This position provides a risk management voice to leadership regarding policies and operational decisions. The position oversees the team in designing and implementing timely accounting and financial reporting essential in the support of business and strategic decisions, and for monitoring the performance of the organization’s programs and supporting services. 

Functionally, the Controller is responsible for maintaining highly functioning accounting, treasury, and statutory and management reporting systems and adherence to policies. The Controller will regularly provide high quality, timely data and analysis for strategic decision support.  

The Controller provides innovative solutions for emerging financial management needs. 

This position communicates with a diverse staff in multiple locations using email, video and audio conference technology. This position must be able to communicate and collaborate effectively globally. 

 

Specific Responsibilities & Duties: 

Strategic Leadership & Governance Support 

• Responsible for the preparation of financial statements and schedules for the Board and Investors and meet regularly with members of management to review financial information. 
• Coordinate and lead the annual budget process. 
• Coordinate with PAX sapiens and RCS staff to prepare consolidated financial reports on a quarterly basis. 

Compliance & Risk Management 

• Maintain and develop internal controls to safeguard the assets of the organization and global adoption of policies and procedures. 
• Ensure compliance with Generally Accepted Accounting Principles (GAAP), internal controls, established policies and procedures, and ensure integrity, suitability, accuracy and timeliness of internal information. 
• Design, implement, and continuously assess the adequacy and effectiveness of internal control systems. 
• Identify internal control weaknesses, gaps, or inefficiencies and lead to corrective actions. 
• Perform internal audits of the field offices twice per year. 

Loan (Murabaha) Operation & Documentation 

• In collaboration with the Compliance and Risk Manager, oversee and ensure that all Murabaha documentation is properly executed, approved, and archived, maintaining accurate records and supporting organizational transparency. 
• Ensure Murabaha transactions comply with Sharia principles, internal policies, investor guidelines, and regulatory requirements. 
• Monitor Murabaha payment schedules, profit recognition, collections, and settlements 
• Identify risks and implement mitigation strategies in support of the organization’s risk register creation and monitoring process. 
• Oversee compliance with payroll-related regulations for Somali region and Kenyan paid employees. 

Accounting Operations 

• Direct the organization’s accounting unit and functions, including the establishment and maintenance of the organization’s accounting principles, practices, procedures, and initiatives. 
• Plan and manage month end closing processes, financial statements preparation, external audit(s), annual tax filings and other statutory reporting requirements. 
• Facilitate audits of grant funding. 
• Ensure appropriate consolidation of trial balances. 
• Determination revenue recognition based on grant award or contract requirements, applying FASB ASC 958 and ASC606, as applicable. 
• In collaboration with the Director of International Finance and Accounting and program staff, responsible for accurate tracking, recording, review, and reporting for grants and contracts in compliance with donor/contractor requirements. 
• Plan, direct, and coordinate the accounts payable, accounts receivable, payroll functions, and donor financial reports, ensuring accuracy and efficiency. 
• Responsible for organization’s cash management. Perform cash flow monitoring, forecasting, and planning. 
• In collaboration with the Finance and Administration Manager, oversee banking relationships with Somali and Kenyan banks. 

Policies and Systems 

• Lead accounting systems software administration, ensuring configurations, integrations, reference materials, and training are provided to enable users to effectively utilize the software to make timely and informed decisions. 
• Regularly review and update financial policies to verify that they remain relevant. 
• Develop and maintain finance and accounting systems and processes that meet the financial management needs of the organization. 
• Work in coordination with RCS and PAX sapiens to manage risk by securing adequate insurance policies. 

Other 

• Represent the organization to external stakeholders including auditors, vendors, funders, partners, and public officials. 
• Provide regular and special information as needed that are related to financial information, cash flows, and investments. 
• Lead, supervise, train, and develop accounting unit. 
• Cross-train and provide back-up for fund accounting procedures, shariah-compliant lending process (Murabaha issuance), and financial due diligence on Murabaha clients. 
• Other duties and responsibilities as assigned by supervisor. 

Required Skills and Experience: 

• CPA or ACCA Accreditation 
• Possess sound judgment along with a high level of integrity, confidentiality, and dependability. 
• Demonstrated leadership ability, team management, relationship building, and interpersonal skills. 
• Requires BA in Accounting, Finance, or Business Administration (with an emphasis in accounting or finance). 
• 7 to 10 years of professional experience managing accounting, budget, and financial reporting operations for nonprofit organizations or Investment banking. 
• Advanced knowledge of IFRS and GAAP; nonprofit accounting, including fund and grant accounting, compliance, and reporting. 
• Experience in the design and maintenance of accounting and financial management systems, internal controls, finance policies, and procedures development. 
• The ability to learn and to work independently as well as in a collegial manner, as a team player, is essential. 
• Exceptional time management and good organizational skills. Accuracy with numbers is necessary. 
• Analytical, critical thinking and innovative problem-solving skills with the ability to handle multiple tasks under tight deadlines and competing priorities. 
• Outstanding communication with demonstrated highly effective presentation and training skills. 
• Fluency in English. 

Preferred Qualifications: 

• Understanding of Islamic finance principles, specifically Murabaha structures and accounting treatment. 
• Knowledge of regulatory and compliance environments within Somalia or similar markets is an advantage 
• Proficiency in Somali. 

 

At Shuraako Capital, we celebrate diversity and welcome its benefits and are proud to be an equal opportunity workplace.  We are committed to equal employment opportunity regardless of race, color, ancestry, religion, gender identity, national origin, sexual orientation, age, citizenship, marital status, disability or veteran status.  If you have a disability or special need that requires accommodation, please let us know.