Debt Recovery Officer at KUSCCO Ltd

Job Description (adsbygoogle = window.adsbygoogle || []).push({}); As the voice and lobbyists for Savings and Credit Cooperatives in Kenya, we at KUSCCO have been at the forefront of efforts to form and develop strong and viable SACCOs. Our key roles at KUSCCO – as the umbrella body for SACCOs – are mainly advocacy and representation. In addition, we offer SACCOs and other cooperatives financial and technical assistance, tailored to largely benefit the middle and low income earners both in Kenya’s rural and urban areas. This is a significant fraction of Kenya’s population that drives the country’s economy through the small and medium enterprise (SME) engine. We are aware of the many challenges facing SACCOs in Kenya, which includes, among others, competition from commercial banks in Kenya, insufficient capital base, lack of or slow rate of Information Technology (IT) adoption, and inefficient loan pricing strategies. We are here to address these problems and strengthen the cooperative movement in Kenya. At KUSCCO, we believe in the strength of unity and have tailored products and services to benefit all the SACCOs and their members in Kenya. Job PurposeThe position will have the overall responsibility to manage the Sacco’s Internal Audit function, providing an independent and objective appraisal of Sacco’s financial, operational, and internal control activitiesResponsibilities Supervises the entire SACCO operations, activities and departments.Develop, implement and review audit function policies and procedures of the Society;Prepare and implement annual work plans for the audit department and operations for the entire SACCO.Review the adequacy, design and effectiveness of the internal control systems.Review the economic efficiency and effectiveness in the utilization of the Society resources, procedures and policies.Monitors whether shares, loan repayments and interest are properly posted in the statement cards.Ensure that the loans of the society are properly documented and the necessary steps were followed in awarding the loans.Examine cheques and other instruments from accounts office for accuracy and correctness.Audit the bank reconciliation statement and financial flow documents.Reviewing the means of safeguarding assets personnel and documentation and, as appropriate , verifying the existence of assets;Reviewing the operational systems established to ensure compliance with Sacco strategies policies, plans, procedures, laws and regulations.Carry out periodic procedural and stock reviews and make reports to the Board of Directors.Undertaking regular transaction and systems review.Evaluate and assess risk management control and governance;Ensure accountable records are accurate including purchases and payments;Identify any accounting errors, cases of fraud and initiating investigations;Prepare and submit audit reports to the Chief Executive Officer and the Audit Committee of the Board;Ensuring the financial statements of the Society have been prepared in accordance with IFRS, IAS and the Sacco Societies Act.Identifying opportunities for cost savings and making recommendations for improving cost efficiencies.Any other duties that may be assigned from time to time Qualifications and Experience A Business related/Bachelor degree in business administration/management (management principles and practice option) or its equivalent qualification from a recognized institution; CPA(K) or similar qualification from recognized professional bodiesBe registered with ICPAK At least 5 years of relevant experience High coordination and control skillsAbility to integrate Sacco programs Professional and ethical but firm in discharging duties Excellent communication and interpersonal skills. Good IT skills and proficient in Microsoft Dynamics. High levels of honesty and integrity. High degree of ethics.