City Finance Officer job at Hoima City Service Commission
Organization:
Hoima City Service Commission
About the Organization:
Hoima District is one of the oldest in the country. It was curved out of Bunyoro Kingdom that had been established under the 1962 Constitution which later became Bunyoro District under the 1967 Constitution that abolished the Kingdoms in Uganda. In 1974 Bunyoro District was split into North and South Bunyoro, the current Hoima district was part of the South Bunyoro until 1979 when it was changed into Hoima District. Later in 1991 Kibaale District was curved out of Hoima leaving Hoima with only Bugahya and Buhaguzi counties.
Job Description
As a City Finance Officer, you would be responsible for managing the financial operations of a city or municipal government. Here's a breakdown of the duties and requirements for this role
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Duties and Responsibilities
Financial Planning and Budgeting: Develop and oversee the city's budgeting process, including revenue forecasting, expenditure planning, and budget allocation. Work with department heads to develop budget proposals aligned with the city's strategic goals and priorities.
Financial Reporting: Prepare and present regular financial reports to city officials, including the mayor, city council, and department heads. Ensure transparency and accuracy in financial reporting and compliance with accounting standards and regulations.
Revenue Management: Oversee the collection and management of city revenues, including taxes, fees, grants, and other sources of income. Develop strategies to maximize revenue generation and ensure efficient revenue collection processes.
Expenditure Management: Monitor and control city expenditures to ensure compliance with budgetary constraints and financial regulations. Review and approve purchase requests, contracts, and other financial transactions.
Debt Management: Manage the city's debt portfolio, including issuing bonds, managing debt service payments, and evaluating financing options. Develop debt management strategies to optimize the city's financial position and minimize borrowing costs.
Investment Management: Oversee the city's investment portfolio, including the management of cash reserves and investments in financial markets. Ensure compliance with investment policies and regulations while maximizing returns on invested funds.
Financial Analysis: Conduct financial analysis and performance evaluation to assess the city's financial health and identify areas for improvement. Provide recommendations for cost-saving initiatives, revenue enhancement opportunities, and financial risk mitigation strategies.
Compliance and Audit: Ensure compliance with financial regulations, accounting standards, and internal controls. Coordinate with external auditors and regulatory agencies to facilitate audits and ensure timely submission of financial reports and disclosures.
Financial Policy Development: Develop and implement financial policies, procedures, and internal controls to safeguard city assets and promote fiscal responsibility. Ensure adherence to best practices in financial management and governance.
Treasury Management: Manage the city's cash flow, banking relationships, and treasury operations. Monitor liquidity needs, invest idle funds, and optimize cash management strategies to maximize interest income and minimize borrowing costs.
Risk Management: Identify and assess financial risks facing the city, such as economic fluctuations, regulatory changes, and revenue volatility. Develop risk management strategies to mitigate financial risks and protect the city's financial stability.
Interdepartmental Coordination: Collaborate with other city departments, including public works, planning, and public safety, to coordinate financial planning, budgeting, and resource allocation efforts. Provide financial guidance and support to department heads to ensure effective use of city resources.
Qualifications and Experience
Education: A bachelor's degree in finance, accounting, public administration, or a related field is typically required. A master's degree or professional certification (e.g., Certified Public Finance Officer, Certified Government Finance Officer) may be preferred.
Experience: Typically, 5+ years of experience in financial management, budgeting, or accounting, preferably in a government or municipal setting, is required. Experience in a supervisory or leadership role may also be preferred.
Financial Management Skills: Strong financial management skills, including budgeting, financial planning, cash management, and investment management. Knowledge of government accounting principles, fund accounting, and public finance is essential.
Analytical Skills: Excellent analytical and problem-solving skills are necessary for analyzing financial data, identifying trends, and making informed financial decisions. The ability to interpret complex financial information and develop actionable insights is important.
Communication Skills: Effective communication skills, both verbal and written, are essential for conveying financial information, presenting financial reports, and explaining complex financial concepts to stakeholders. The City Finance Officer must be able to communicate effectively with city officials, department heads, and external stakeholders.
Leadership Abilities: Strong leadership and management skills are necessary for providing direction, guidance, and supervision to finance department staff. The City Finance Officer should be able to motivate and inspire team members to achieve departmental goals and objectives.
Ethical Conduct: High ethical standards and integrity are crucial for maintaining public trust and confidence in the city's financial management practices. The City Finance Officer must adhere to ethical principles and ensure transparency and accountability in financial decision-making.
Regulatory Compliance: Thorough knowledge of financial regulations, accounting standards, and government finance laws is essential. The City Finance Officer must ensure compliance with relevant laws, regulations, and reporting requirements.
Attention to Detail: Strong attention to detail is necessary for reviewing financial documents, analyzing financial data, and ensuring accuracy in financial reporting. The City Finance Officer must be able to identify errors or discrepancies and take corrective action as needed.
Teamwork and Collaboration: The ability to work collaboratively with other city departments, city officials, auditors, and external stakeholders is important. The City Finance Officer should be able to build effective working relationships and foster a culture of teamwork and cooperation within the finance department.
Adaptability: The City Finance Officer must be adaptable and able to respond effectively to changes in financial regulations, economic conditions, and organizational priorities. The ability to adapt to evolving circumstances and make sound financial decisions is essential.
Problem-Solving Skills: Strong problem-solving abilities are necessary for addressing complex financial challenges, identifying solutions, and mitigating financial risks. The City Finance Officer should be able to anticipate potential problems and develop proactive strategies to address them.
How to Apply
APPLICATION FOR THIS POSITION MUST BE DONE ONLINE:
Are you interested? Click the "APPLY" button below to submit your application.
Deadline for Application
May 1, 2024
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