Wanandege Sacco Society Jobs in Kenya

Finance Manager Job - Ref No: W/FM11/2016

Job Description
Applications are invited from qualified persons for the above vacant position.

Job overview
The position will be responsible for the overall management of the Sacco’s financial system in such a manner as to maximize returns on investment while minimizing risks, ensuring that an adequate control structure is in place over transfer and investment of funds.

The position will also engage in financial analysis in such areas as forecasting, budgeting, engaging in cost reduction analysis and reviewing operational performance.

Key Duties and Responsibilities:
  • overall management and coordination of the finance department by leading, directing, planning and controlling of all aspects of reporting, budgeting, final accounts and liaison with internal and external auditors.
  • Formulate a strategic financial plan to enhance the overall business growth.
  • Provide financial reports and interpret financial information to managerial staff while recommending further courses of action.
  • Advise on investment activities and provide strategies that the Sacco should take to improve revenue.
  • Maintain the financial health of the Sacco.
  • Analyse costs, pricing, variable contributions, sales results and the Sacco’s actual performance compared to the business plans.
  • Develop trends and projections for the Sacco’s finances.
  • Conduct reviews and evaluations for cost-reduction opportunities.
  • Oversee operations of the finance department, set goals and objectives, and design a framework for these to be met.
  • Manage the preparation of the Sacco’s budget and its implementation and review
  • Correspond with various other departments, discussing Sacco plans and agreeing on future paths to be taken.
  • In liaison with the CEO, formulate corporate financial strategies, monitor and oversee their successful implementation and ensure compliance with approved policies and regulatory requirements
  • Monitoring liquidity position of the society thorough cash flow movement reports
  • Preparation of monthly Finance Committee board papers.
  • Oversee the preparation of management and financial reports (monthly, interim and end of year)
  • Monitoring, evaluation and improvement of internal controls
  • Promoting a positive ethical and corporate culture.
  • Be a team player in development, nurturing and improving synergies within the institution to effectively attain the set objectives.
  • Approval for activation of dormant accounts –below 1 yr
  • Verification of staff payroll prepared by the HR Manager and forwarding to CEO for approval
  • Approve petty cash payments and reimbursement for both Nairobi and Mombasa
  • Approve all transactions before they are posted by the accountants (e.g. remittances, salaries , payments to third parties, loans to members, refunds journals, interbank transfers, invoices, end of year adjustments)
  • Ensure cash/ stock counts and are done periodically as required
  • Review and approve all bank reconciliations statements –Daily and Monthly
  • Prepare the annual departmental objectives(plans) and review, ensuring the effective allocation of work and efficient use of resources
  • Recommending line of credit for liquidity purposes
  • Approve SASRA returns on financial performance and ensure submission is done within the regulatory requirements

    Administrative duties
    1. Participate in strategic planning and setting of departmental objectives
    2. Appraise staff performance in the department.
    3. Any other lawful duty assigned by the CEO

    Minimum qualifications
  • Bachelor’s degree in any business related field
  • Must be a member of ICPAK
  • Conversant with Deposit Taking Sacco Operations
  • At least 5 years relevant experience in the same or related position

    Interested candidates meeting the above criteria should forward an application letter; detailed CV accompanied by copies of certificates, testimonials indicating the current and expected salary by email to hr-recruit@wanandegesacco.com on or before Friday 30th November, 2016, and hard copies mailed or hand delivered to:
    The Chief Executive Officer,
    Wanandege Sacco Society ltd,
    Wanandege Sacco Plaza-Embakasi,
    P.o. Box 19074-00501

    Canvassing will lead to disqualification

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