Project Accountant at Aga Khan Education Service, Kenya (AKESK)

Role Summary:
Reporting to the Chief Finance Officer (CFO) , with a dotted line to the Project Director, the Project Accountant oversees all financial aspects of this major construction project, ensuring integrity, compliance, and accountability throughout the lifecycle. Working closely with the CFO, Project Director, and Project Commercial Manager, the role provides accurate financial reporting, budget control, and risk management for timely and on-budget delivery.

Key Responsibilities:

Financial Planning & Budgeting:

• Establish cost baselines and implement budget control to monitor committed, actual, and forecasted costs.
• Monitor budget performance and provide variance analysis with recommendations.

Cash Flow and Funding Management:

• Forecast cash flow and manage funding disbursements with the project team.
• Prepare rolling cash flow forecasts to support liquidity planning.
• Monitor funding against milestones; coordinate drawdowns or capital calls.
• Identify liquidity needs early and support treasury planning.
• Monitor FX and inflation risks; assess impact on cash flows; recommend optimal cash deployment.

Cost Monitoring and Payments:

• Track expenditures against budgets; flag overruns early.
• Review contractor/consultant invoices, payment certificates, and supporting docs for accuracy and ETIMS compliance.
• Ensure timely payments per contracts; liaise with project teams and finance to resolve queries.

Accounting and Financial Control:

• Accurately record transactions in ERP/FIS; maintain project-specific GL accounts.
• Ensure timely capitalization of completed assets per accounting standards (e.g., IFRS).

Tax Compliance:

• Ensure compliance with Kenyan tax laws and statutory requirements.
• Accurately capture, reconcile, and claim input VAT; follow up on refunds and maintain documentation.
• Liaise with tax authorities and internal stakeholders to resolve tax matters.

Movable Asset Tracking and Recording:

• Maintain an up-to-date register of all movable assets acquired, with the project team.
• Coordinate tagging, recording, and transfer to the Fixed Asset Register upon commissioning.
• Ensure proper documentation, safeguarding, and accounting per asset management policies.

Reporting & Compliance:

• Prepare monthly, quarterly, and annual financial reports for internal and external stakeholders.
• Perform monthly reconciliation between budget monitoring tool and ERP/FIS; investigate and resolve variances.
• Ensure compliance with donor, regulatory, and internal policies; support audits.

Procurement & Contract Oversight:

• Collaborate with procurement to ensure financial due diligence in vendor selection.
• Review financial terms in contracts and monitor compliance.

Risk Management:

• Identify financial risks and propose mitigation strategies; maintain a risk register with the project management team.

Stakeholder Engagement:

• Liaise with internal departments, external consultants, contractors, and donors.
• Provide financial insights to support strategic decision-making.

Project Close-Out:

• Coordinate financial closure; reconcile budgets and expenditures.
• Verify completion of contractual financial obligations.
• Prepare final financial reports; support asset capitalization and handover.
• Document lessons learned and financial performance outcomes.

The requirements

Qualifications and Experience:

• Bachelor’s degree in Accounting, Finance, or a related field.
• CPA (K), ACCA, or equivalent professional accounting qualification.
• Master’s degree in Finance, Accounting, or Project Management (an added advantage).
• Minimum 7 years of progressive accounting experience, with at least 3 years in project accounting.
• Proven experience in managing finances for large-scale construction or infrastructure projects.
• Experience working with donor-funded or non-profit organizations is highly desirable.
• Strong financial analysis and reporting skills.
• Proficiency in accounting software (e.g., Microsoft Dynamics, SAP or similar ERP systems).
• Excellent knowledge of Kenyan tax laws and financial regulations.
• Strong interpersonal and communication skills.
• High level of integrity, accuracy, and attention to detail.
• Ability to work independently and collaboratively in a multidisciplinary team.