Job Description
Overall purpose of the job
To oversee the Sacco’s financial and accounting processes, development and evaluation of financial policies, procedures, and controls systems in addition to budgeting, cashflow management and management of financial resources.
Key Duties and responsibilities
1. Developing, documenting, implementing, and maintaining a comprehensive Financial Plan for the Society,
2. Advising management, CEO and Board of Directors on the Sacco’s financial position and financial and investment policies
3. Examining financial transactions for accuracy and compliance with entity policies and applicable laws and regulations
4. Communicate and advise the management regularly on financial status of the Society and funds available for activities, projects and programs
5. Ensure maintenance of quality loan book with a PAR of at most 5%
6. Monitor and adhere to strategic issues including financial planning, budgetary control and liquidity management within stipulated policies and guidelines.
7. Advising the CEO and the Board on various viable options for raising funds, analyzing market and competitors’ trends.
8. Ensure accurate, timely financial record keeping and adequate budgetary controls are in place
9. Timely preparation and presentation of management accounts, cost control reports and budgets
10. Carry out performance appraisal/management and training needs assessment on annual basis
11. Ensure preparation and submission of accurate statutory and SASRA reports as required.
12. Identifying emerging best practices within the industry which can assist the Sacco in producing accurate and reliable financial reporting information
13. Recommending appropriate dividend issuances, based on historical dividend patterns, and expected cash flows
14. Facilitating the annual external audit process
15. Ensuring SACCO systems are well maintained and fully operational, system security is assured and recommending improvements.
16. Supervise and manage the Finance, Recovery section, and the ICT section.
17. Ensure achievement of set performance targets and conducting performance appraisal in the department
18. Any other lawful duties that may be assigned from time to time.
Minimum academic and professional qualifications required
1. A Bachelor’s Degree in Accounting, Finance, Business/Credit Administration, Co-operative Management or equivalent,
2. A professional qualification in accounting ie CPA K/ACCA/ACA/CFA,
3. A member in good standing with ICPAK,
4. Master’s degree is an added advantage,
5. A minimum of Eight (8) years relevant experience of which Five (5) years should be in a similar management position
6. Successful candidates will be required to meet the requirements of Chapter 6 of the constitution of Kenya by obtaining the relevant documentation.