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Finance Manager (REF: FM/11/22)
Our client, a deposit-taking Sacco regulated by SASRA based in North Rift Kenya is seeking suitable, professional, and qualified persons to fill the position of Finance Manager (REF: FM/11/22) to perform all functions of the finance department in the Sacco and advise the CEO and board accordingly. Provide prudent management of Sacco resources, and investments and ensure sound management of all financial aspects of the Sacco.
Duties and Responsibilities
- Provide leadership in overall financial management in the preparation of the Sacco’s financial statements, budget formulation, and Sacco investment strategy.
- Formulation of sound financial management, accounting and investment strategies, policies, procedures and systems that ensure effective control and accountability for the Sacco’s resources.
- Preparation of timely, consistent, and accurate financial statements in accordance with the Sacco’s policies and procedures and statutory reporting.
- Interpretation of financial information to the Board and Management.
- Coordinating the development and monitoring of the implementation of the Sacco’s strategic plan.
- Preparation and execution of the investment plans for the Sacco.
- Monitoring and evaluation of investment portfolios to ensure investment performance is tracked and appropriate measures are taken to ensure adequate returns on invested funds.
- Timely reporting on investment performance to ensure appropriate action for optimal portfolio performance.
- Forecasting of cash flow requirements to ensure excess funds are invested in approved investments and are available as and when required for disbursement.
- Preparation of economic reports.
- Analyzing market and competitors’ trends.
- Monitoring cash flows and conducting forecasts that provide guidance to the Sacco in planning and decision-making.
- Establish good working relations with professionals (bankers, auditors, or statutory organizations) and regulators such as SASRA that support the growth of a vibrant financial institution.
- Manage the Sacco’s budgets against actual performance and advise the board and senior management on modalities to maintain growth and the long-term financial goals of the Sacco.
- Update the Sacco Board and management on changes in legislation or regulations that may affect business operations.
- Ensuring the Sacco’s assets and liabilities are safeguarded.
- Management of staff payrolls.
- Coordination of tender documents, procurements of goods and services, and disposal within the Sacco.
- Ensuring insurance payments, rent payments and other logistical operations within the Sacco.
- Approve payments i.e. petty cash, supplier payments, and salary payments.
- Oversee operations of staff in the department.
- A bachelor’s degree in accounting or finance.
- A master’s degree is an added advantage.
- A professional accounting qualification CPA K or ACCA.
- At least 5 years of experience in financial management in a financial institution.
- Sound knowledge of deposit-taking saccos and the regulator’s (SASRA) guidelines governing deposit-taking saccos.
- Must be a bonafide member of ICPAK.
- Other professional qualifications are an added advantage.
Key Skills and Competencies
Essential knowledge/skills required:
- Outstanding organizational and leadership abilities
- Advanced computer skills in MS Office, accounting software, and databases
- Attention to detail and excellent analytical skills
- Sound independent judgment
- Aptitude in decision-making and problem-solving
- Report writing and presentation skills
- A solid grasp of data analysis and performance metrics
- Current information on Saccos’ business and financial affairs
- High level of professionalism and integrity
Desirable knowledge/skills and experience required:
- Ability to manipulate large amounts of data and to compile detailed reports
- Strong communication and interpersonal skills
- Good personal judgment
- Self-confident and motivated
How to apply
Interested and qualified applicants are requested to click on the link below and fill out the online application form and submit it by 7th December 2022. Any applications received after the closing date shall not be accepted.
Only shortlisted candidates will be contacted. If you do not hear from us by 17th December 2022, consider your application as unsuccessful.