The Pharo Foundation

Position: Finance and Operations Lead

Job Time: Full-Time

Job Type: Contract

Place of Work: Addis Ababa, Ethiopia

Posted date: 5 hours ago

Application Deadline: Mar, 14/2022 (14 days left)

Pharo Ventures is the commercial for-profit arm of The Pharo Foundation and has been set up to harness the power of a vibrant private sector by investing in enterprises across a variety of sectors within the Eastern Africa region. The objective is to build and grow commercially and environmentally sustainable businesses with a focus on maximizing the creation of economic value and jobs, for local communities.

We have a vision of an economically vibrant and inclusive Africa. Matching that vision is our ambition to create a portfolio of sustainable business ventures that by the end of 2025, will deliver more than five thousand direct jobs across the region. We believe we can achieve our vision and ambitions by investing in the human and physical capital of Africa. For each target country in the region, Pharo Ventures will innovatively build a portfolio of businesses that will be financially sustainable, create value for the local communities and be environmentally responsible.

Position Summary:

The Finance and Operations Lead is a senior leadership role based in Addis Ababa. The role reports to the Head of Pharo Ventures in Ethiopia. Tasked with leading and overseeing the conceptualization, development, and operation of businesses in Ethiopia, the incumbent will be responsible for ensuring that Pharo Ventures Ethiopia achieves its objectives.

The role requires a seasoned and experienced operation and commercial leader, with significant experience in setting up and running businesses and operations across different sectors. The role holder will bring on board significant investment experience and will be comfortable with the financial, commercial, operational and strategic aspects of social investments. In addition, the incumbent will be a strong team leader and an excellent relationship manager, both internally and externally, with various stakeholders.

Functional Relationships:

• Pharo Ventures' core team in Ethiopia
• The management team of the Pharo Ventures in Ethiopia.
• Pharo Ventures team in Nairobi

External Relationships:

• Local authorities in Ethiopia.
• External legal and regulatory teams.
• Suppliers, service providers, and consultants.
• Government stakeholders and Investment agencies.

Direct Reports:

• None for now but expected to build an execution team over time.

Key Duties and Responsibilities:

General

• Supports the conceptualization and development of ventures, their implementation, and subsequent review, as necessary.
• Lead the development of operations strategy and financial management for each venture once identified and approved.
• Oversee and coordinate the financial operations of Pharo Ventures in-country.
• Follow up the overall performance of the companies and ensure they meet set objectives.
• Present periodic reports and analyses of the performance of the companies, risks, and challenges.
• Manage the internal and external relationships to support the companies.
• Ensure the achievement of impact, financial, and sustainability targets and objectives. Strategy Development And Execution
• Collaborate with senior management to formulate a strategy for new ventures.
• Drive the planning, implementation, and monitoring of the venture’s operation strategy and financial management, working closely with a variety of stakeholders.
• Support the development of enterprise-specific business plans prior to the launch of the company operations for company growth and expansion.
• Design and implement efficient processes and procedures.
• Manage procurement processes and coordinate resource allocation.
• Monitor the legal and regulatory environment and advise and make amendments as necessary to the business's operations as and when needed.
• Support the development of a portfolio of Pharo Ventures, including developing new investment proposals and refining existing concepts.

Performance Management, Reporting, and Learning

• Through quantitative and qualitative impact data and financial analysis, identify the strengths and opportunities to improve the overall performance of the companies.
• Work with the various company leadership teams to develop annual key performance indicators and targets. Ensure the companies meet the planned targets and performance standards and report on overall performance at periodic intervals or as and when required.
• Perform extensive analytics on historical performance and develop forecasts on the short and long-term performance of the portfolio companies.
• Ensure that the companies and in-country Pharo Ventures teams operate on approved budgets, monitor their implementation, and update the Head of Pharo Ventures regularly.
• Ensure accuracy, consistency, and timeliness of financial and performance-oriented reports (quantitative and qualitative, financial and social) to headquarters and stakeholders.
• Achieve superior growth and market performance through entrepreneurial approaches to implement innovative business concepts.
• Develop and apply enterprise development best practices and approaches into new investments and promote cross-linkage opportunities for enterprise development.

Relationship Management

• Manage contracts and relations with customers, vendors, partners, and other stakeholders.
• Develop and nurture relationships with key stakeholders internally and externally, including major partners.
• Follow-up, coordinate and supervise project studies and implementation being undertaken by external consultants and contractors.
• Represent the organization at designated meetings and at conferences when necessary.

Leadership

• Provide overall leadership for the operation and financial management of portfolio companies.
• Manage team performance and drive a culture of excellence in the organization.
• Provide input in the development of employee policies to ensure attraction and retention of skilled staff.

Risk Management

• Continuously and proactively, assess high-level risks to the companies and to the overall organization. Communicate the risks and manage the risks by developing mitigation measures.
• Ensure the protection of company assets, premises and employees; manage and approve insurance and other appropriate risk mitigation measures.
• Develop a risk profile and regularly report on risk to the investment portfolio.

Knowledge and Experience Requirements:

• Bachelor’s degree in Finance, Economics, Engineering, Law, Business Management or related fields is mandatory.
• An MBA is strongly preferred.
• At least 8 years relevant experience, of which at least 5 years at senior managerial level leading early and growth-stage investments in Eastern Africa.
• Proven experience as Operations and Finance head or equivalent position.
• A solid understanding of the Ethiopian business environment, investment guidelines, and requirements.
• Strong financial analysis skills, with the ability to create financial models preferred.
• Commercially astute and with deep experience in the for-profit sector and a solid understanding of businesses across various sectors.
• Demonstrable skills in project management - implementation, including performance monitoring, budget preparation, and tracking.
• Ability to prioritize and handle multiple tasks, familiar with and able to operate in a fast-paced
• International and multi-cultural environment.
• In-depth knowledge of diverse business functions and principles.
• Excellent communication (writing, listening, and presentation) skills coupled with the ability to analyze and explain relevant data. Excellent spoken and written English.
• Strong team player that can work cooperatively with internal and external stakeholders.
• Experience in developing business/investment and/or marketing plans required.
• Strong leadership skills with the ability to manage a multiplicity of stakeholders.
• Solid negotiation, coaching, and interpersonal skills.
• Very good computer skills with the ability to work using MS Office suite and MS Project.
• Attention to detail and a flexible approach to work. A self-starter, capable of working independently.
• Positive outlook and outgoing personality with solid interpersonal and diplomatic skills.
• Ability and willingness to travel as required within Ethiopia and in the region.

Behavioral Competencies:

• Ability to combine strategic thinking and the capacity to operationalize the strategy.
• Very structured, process-oriented, and a logical thinker.
• Excellent time manager who can balance multiple priorities.
• Motivated to learn and perform and not afraid to ask questions.
• Willing to challenge the status quo and add value by introducing positive change.
• Good communicator and comfortable working in a team environment.
• High professional and ethical standards

How to apply

Applicants should send a detailed CV and Cover Letter, a 1,000-word essay on: What Finance and Operations experience have you gained that makes you the most qualified candidate for the role? What challenges do you foresee/anticipate in building best-in-class Finance systems and processes in a fast scaling entrepreneurial organization? What steps will you take to successfully resolve these? And a one-page list of five references with current addresses, phone numbers, and email contacts via email: recruitment.socialenterprises@pharoventures.com

Note: Review of applications will be on a rolling basis. In the event that we identify an outstanding applicant early in the search process, we reserve the right to appoint before the deadline. For this reason, we encourage interested candidates to apply at the earliest possible time. Due to the high volume of applications expected, we regret that we will only be able to contact the short-listed candidate.