The primary purpose of the position is to prepare and examine financial records, ensure their accuracy and ensure that all statutory deductions are remitted promptly and correctly. The role holder will also ensure timely and accurate financial reporting and member account updates, and that all bookkeeping and accounting work is performed meticulously.
Duties and Responsibilities
The key duties shall include:
- Oversee the SACCO's finance and accounting function.
- Ensure timely and accurate preparation and presentation of monthly, quarterly and annual financial statements, management accounts and Board reports in compliance with IFRS standards.
- Oversee the preparation of accurate and timely financial statements and management reports.
- Lead the annual budgeting and planning process; review all financial plans and budgets; monitor progress; forecast and report on financial performance to senior management promptly.
- Develop and implement the SACCO's financial strategy, ensuring alignment with its strategic goals, and provide strategic financial advice to the CEO and the Board.
- Ensure full compliance with all applicable laws and regulations, including the Co-operative Societies Act, Sacco Societies Act, regulations and guidelines, KRA tax requirements and regulations, and other statutory requirements.
- Manage the SACCO's cash flow, treasury forecasting and liquidity to ensure adequate funding and optimise the use of financial resources.
- Establish and maintain robust financial internal control and risk management systems and accountability frameworks to safeguard assets.
- Manage payroll.
- Coordinate external and internal audit processes and the implementation of audit recommendations.
- Monitor financial performance and recommend corrective actions where necessary.
- Conduct reviews and evaluations to identify cost reductions across various vote heads.
- Drive professional development, performance appraisals and staff training.
- Keep abreast of changes in financial regulations and legislation.
- Support digital transformation and automation of finance processes.
The candidate should have:
- A bachelor's degree in Accounting, Finance, Business Administration, Economics, Agribusiness or another business-related field, or its equivalent, from a recognised university.
- A Certified Public Accountant of Kenya (CPA(K)) qualification or its equivalent.
- At least four (4) years of practical experience in a financial institution, including at least two (2) years in an accounting or finance function.
- A diploma in Co-operative Management and/or experience in management information systems, preferably Microsoft Navision or Microsoft Dynamics 365 Business Central, will be an added advantage.