About Novastar
If successful, these businesses have the potential to
transform the lives of millions of people by satisfying latent demand,
expanding market access, reducing costs and improving the quality of essential
goods and services.
Novastar is a venture capital fund manager dedicated to
finding and growing the “new stars” of East and West Africa. We back early and
growth stage businesses led by entrepreneurs with the capability and ambition
to transform markets and sectors. There is a vibrant ecosystem of fast-growing
businesses offering low-income households access to affordable goods and
services such as healthcare, agriculture services, energy, housing, education
and safe water, or access to new opportunities as employees or producers.
However, many of these businesses struggle to find investors
who are willing to finance them both while they test and develop their business
model and then pursue scale. As one of the early venture funds at scale in the
region Novastar addresses this need, supporting businesses as they test their
business model and growing with them if they are successful.
We also provide ongoing support (beyond financing) to the
businesses to help them reach their full potential. In so doing, Novastar aims
to generate attractive returns for our investors and large-scale benefits for
low-income households.
Novastar was formed in March 2014 and, having raised our
second fund in October 2018, we are looking to expand our team accordingly. We
are therefore seeking a Finance Manager to support us and our portfolio
companies.
About the role
As Finance Manager you will both manage our internal
finance systems and support our portfolio companies’ finance functions.
Internally, you will lead our internal finance systems and
initiatives, oversee a Senior Accountant, manage relationships with auditors
and fund administrators, as well as support on investor reporting.
As our portfolio companies grow rapidly, they need to
constantly upgrade their finance functions; you will proactively support them
with these challenges, and where needed, provide advice on finance systems and
best practices. You will build a network of proven and trusted finance service
providers available to our companies when the needs arise.
Responsibilities
Manage Novastar’s Financial Systems
(50%)
- Manage
and oversee the finance team, which includes a Senior Accountant
- Ensure
the smooth running of the finance function in both our Nairobi and Lagos
offices
- Proactively
liaise with auditors and manage the relationship to ensure timely
completion of Novastar entity audits
- Oversee
the performance of our service providers in Kenya, Mauritius, and the UK
(eg fund administrators, accountants)
- Supervise
creation of annual budgets
- Support
on quarterly, annual and ad-hoc investor reporting
- Lead
key fund operations such as (but not limited to) the valuing our
investments, allocating our remaining reserves to portfolio companies and
monitoring the long-term performance of the fund
Portfolio company support (40%)
- Develop
an understanding of the finance challenges our individual portfolio
companies face
- Provide
project-based finance support to portfolio companies as and when needed
- Support
portfolio companies with recruitment in their finance function, (including
but not limited to mapping out technical role requirements and involvement
in the interview process)
- Identify
patterns of frequent finance challenges and design and then lead
portfoliowide scalable solutions.
- Identify
best practices within the portfolio and facilitate the sharing of these
across the portfolio
- Continuously
keep abreast of market trends, proactively gather learnings and share
insights with the Novastar team and portfolio companies
Build a dynamic pool of finance
providers (10%)
- Develop
a deep understanding of finance service providers across the markets we
operate in to understand: their expertise, value, differentiating factor,
quality of delivery, and understanding of fast-growing businesses
- Dynamically
adjust the list of providers as they leave and enter the market and as we
gain experience working with them
- Act
as the matchmaker that efficiently connects our portfolio companies with
the right finance support
- Advice
the companies in selecting the best and most relevant provider based on
their needs.
- Closely
oversee delivery and assess quality of outputs.
Qualifications
- You
have at least 8-9 years of work experience in a finance function and are a
qualified accountant. You have experience preparing management and annual
accounts, managing ongoing accounting and finance activities (e.g.,
payroll, filing taxes)
- You
have built financial systems in a fast growing organization and understand
the challenges faced
- You
have experience in managing people and teams, including an accounting team
- You
love the culture and dynamics of fast-growing organizations. Preferably
you have been an entrepreneur in the past, have worked in a fast-growing
organization, or are in constant contact with entrepreneurs
- You
have a proven track record in building impactful and efficient accounting
and finance functions
- You
easily build rapport and relationships with ambitious entrepreneurs
- You
are a keen listener with great ability to “hear beyond the words”. You are
naturally able to sense issues in a team and what individuals need
- You
have proven track record, creating, building and influencing diverse
stakeholder relationships to achieve a common goal
- You
are conversant with using excel skills to build financial
- Your
written communication is strong, and have the ability to write proposals
- You
have worked in East or West Africa, are conversant with local business
practices, and have a good understanding of how businesses run
- You
have worked in multicultural and diverse environments
- You
have a proven ability to quickly connect dots, see patterns, identify
causes and propose impactful solutions
- You
have the proven ability to create and execute result-oriented projects in
a highly demanding environment, and manage multiple projects at a time
- You
are able to monitor ongoing projects and produce regular reports to
various stakeholders
- You
are a fast learner, who is comfortable with ambiguity and able to adapt
and thrive in frequently changing environments
- You
are known for your strong ability to make things happen
You will love working at Novastar if:
- You
believe in the potential of ambitious entrepreneurs to transform millions
of lives and are committed and eager to help shape this dream.
- You
love and value working and growing your career in a culturally rich and
diverse work setting
- You
enjoy working in small teams where openness, flat structure and
meritocracy are key drivers for collaboration
- You
listen carefully and respectfully to differing views and embrace
constructive criticism
- You
are results oriented go-getter with an entrepreneurial approach to
everyday challenges
- You
are not surprised or deterred when things go wrong.
Wondering why you should join us?
- Work
at the cutting edge of venture capital: We find and support exceptional
entrepreneurs, proving that large-scale benefits to low-income households
and attractive returns to investors are possible.
- Join
a movement: We and our entrepreneurs are stubbornly optimistic, believing
that solutions to large challenges can be found and work relentlessly
towards building the future.
- Incredible
exposure and a steep learning curve: We are a small and agile team, and
you will be involved in a wide range of projects and activities. You will
be deeply engaged in and partner on the journey of our entrepreneur
rockstars and gather experience and networks of a lifetime!
- We
take care of the team! Our Nairobi office is a beautiful place to work at
and reflects our ambition to do things differently.
- Our
flat hierarchy gives you a voice: From day one you will be part of all
conversations and decision meetings. We expect you to participate fully,
as your insights count. This also comes with autonomy, as you chart your
own journey in the firm!
How To Apply
- Tailor
your CV to this opportunity, showcasing your relevant past roles clearly.
The File name of your CV should start with your first name followed by
your surname e. g Anita Miles CV, saved in PDF Format and not more than 3
pages long. Only CVs in the right format will be considered
- Prepare
the application and submit as outlined under this link (includes video
submission) http://bit.ly/NovastarFM
- Apply
AS SOON as you see this. Selection will take place on a rolling basis.
- This role is based in our office in Nairobi.