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3 weeks ago

Job Summary

To be in charge of development, installation and implementation of all financial and administrative systems and procedures in the SACCO. The responsibilities will also cover timely submission of Regulatory/statutory returns; timely production of monthly/annual financial reports; preparation for annual audit of the SACCO, overseeing all purchases, payroll and all other payments of the SACCO.

  • Minimum Qualification: Bachelors
  • Experience Level: Mid level
  • Experience Length: 5 years

Job Description/Requirements

Finnlemm SACCO is a Regulated Non-WDT-Society that is seeking a trustworthy, meticulous and analytical professional individual to join the Finance team as the Finance & Administration Manager. 

Principal Duties, Responsibilities and Standards of Performance

i. Develop and implement procedures and activities that will ensure the adequacy of cash flows in the Society. This includes preparing rolling monthly cash forecast reports, developing and maintaining efficient cash flow management techniques to meet daily cash demands.

ii. Prepare society budgets based on inputs from departmental/sectional managers as well as Board of Directors and other stake holders.

iii. Conduct reviews and evaluations for cost control/reduction opportunities and prepare quarterly economic report highlighting on how the environmental variables are impacting on the SACCO business performance.

iv. Design and maintain effective internal controls and risk mitigating measures within the Finance processes.

v. Ensure maintenance of complete and accurate books of accounts according to the Cooperative Societies Act, Sacco Societies Act, International Financial Reporting Standards (IFRSs), other legislations and regulatory requirements.

vi. Ensure that the accounting system provides fast, up to date and timely financial reports in the SACCO.

vii. Prepare monthly management accounts and annual financial statements.

viii. Liaise with auditors to ensure timely completion of audits and response to audit matters.

ix. Prepare and submit Regulatory and statutory returns within stipulated deadlines.

x. Ensure compliance with relevant internal policies, procedures, statutory and regulatory requirements.

xi. Ensure compliance with all financial and administrative deadlines affecting the Sacco business.

xii. Manage the development and introduction of new investment opportunities for the generation of expanded revenues for the Society before being approved by the Board of Directors for implementation.

xiii. Manage the operations of the mobile platform by ensuring availability of funds at all times, that it is 24-hour operational and that all the required M-Pesa reconciliations are done on timely basis.

xiv. Supervise staff in the department and handle administrative duties assigned from time to time.

Skills, Knowledge and Abilities Required for this Position 

i. Skills in oral and written communication, team work, team supervision, long and short-term planning, familiarity with a wide range of finance and accounting systems and financial analysis.

ii. Knowledge of the Cooperative Societies Act, SACCO Societies Act, Employment Act, Rules and regulations, tax legislation and other Acts and government regulations affecting the SACCO business, SACCO policies and internal operating procedures. 

iii. Thorough understanding of International Financial Reporting Standards and SASRA Regulations.

iv. Ability to organize and coordinate financial and management accounts information, inspire, influence and achieve results through others, enforce disciplinary measures among employees towards achieving the set targets                  

Minimum Academic & Professional Qualifications, Experience

i. Bachelors degree in Finance, Banking, Accounting or Business related field  

ii. Holder of CPA (K) and member of ICPAK in good standing

iii. Masters degree in banking, finance or MBA will be an added advantage

iv. At least five (5) years’ experience in financial institution operations including planning, budgeting, regulatory compliance, lending and administration

v. At least 2 years’ experience in a managerial position in the SACCO sector 

vi. Proven ability to command the attention and allegiance of staff

vii. Demonstrate the capacity to interact effectively with a wide range of stakeholders and to present financial information in generally acceptable formats for decision-making

viii. Excellent command of computer packages and use as financial tools. Experience in the use of Microsoft Dynamics ERP Navision system will be an added advantage

How to Apply

Candidates who meet the minimum requirements to:

1. Click on the link https://forms.office.com/r/QPEMV2fWfS and fill out the application form.

2. Send a detailed CV including 3 referees, a cover letter, and relevant support documents to humanresource@finnlemm.com by 31st May 2024.

Only shortlisted candidates will be contacted. If you do not hear from us by 31st July 2024 kindly consider your application unsuccessful.

Finnlemm Sacco espouses diversity, inclusivity and equality and offers competitive remuneration and comprehensive benefits to its employees.

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