Finance Manager (REF: FM/09/24)

Reports to: Chief Executive Officer (CEO)

Our client, a licensed Sacco in Nairobi, is seeking to urgently recruit a qualified and highly motivated Finance Manager. 

Job Summary

The Finance Manager will be responsible for overseeing all financial activities, ensuring the accuracy of financial reporting, managing the Sacco’s financial health, and ensuring compliance with regulatory requirements. This role involves strategic planning, budgeting, risk management, treasury management, and leading the finance team.

Key Responsibilities

1. Financial Planning and Analysis:
• Develop and implement financial strategies and plans that support the Sacco’s objectives.
• Prepare and analyse financial reports, budgets, forecasts, and financial statements.
• Monitor financial performance, identify trends, and provide insights to the management team.
2. Budgeting and Forecasting:
• Lead the budgeting process, including setting budget guidelines, preparing budgets, and monitoring actual performance against budgets.
• Prepare monthly, quarterly, and annual forecasts.
3. Financial Reporting:
• Ensure timely and accurate preparation of financial statements in accordance with accounting standards.
• Present financial reports to the Board of Directors, CEO, and other stakeholders.
4. Risk Management:
• Identify financial risks and develop mitigation strategies.
• Ensure adequate internal controls are in place to safeguard the Sacco’s assets.
• Manage insurance coverage and other risk management programs.
5. Compliance and Regulatory Requirements:
• Ensure compliance with all financial, legal, and regulatory requirements.
• Liaise with external auditors, regulatory authorities, and other stakeholders.
6. Treasury and Cash Management:
• Oversee the management of the Sacco’s cash flow, investments, and borrowing.
• Develop and maintain banking and other strategic relationships.
• Ensure adequate liquidity to meet operational needs, member withdrawals and pursue investment opportunities.
• Ensure bank reconciliations are done every week & books are closed by the 5^th of the following month.
• Ensure member accounts are updated on a timely basis and all funds remitted to the Sacco’s accounts are identified within a reasonable time frame.
7. Leadership and Team Management:
• Lead, mentor, and develop the finance team.
• Foster a culture of continuous improvement and high performance.
• Coordinate with other departments to support overall Sacco objectives.
8. Strategic Initiatives:
• Support strategic initiatives and projects, including mergers, acquisitions, and new product development.
• Participate in strategic planning sessions and contribute to the development of long-term goals.
9. Technology and Systems:
• Oversee the implementation and maintenance of financial systems and software.
• Ensure the integrity and security of financial data.
10. Monthly & Year-end closures.
• Oversee and ensure the general ledger is updated, reconciled and closed on the 5^th of the following month.
• Ensure end-year finalisation is done by the end of January to allow external audit as of February of the following year

Qualifications and Experience

• Bachelor’s degree in Finance, Accounting, or a related field; 
• Master’s degree or CPA/CFA certification is preferred.
• Minimum 10 years of experience in finance or accounting roles, with at least 5 years in a management position.

Skills:

• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.
• Proficiency in financial software and Microsoft Office Suite.
• Knowledge of Sacco operations and regulatory requirements is an advantage.

Personal Attributes

• High ethical standards and integrity.
• Strong leadership and team-building abilities.
• Strategic thinker with a proactive approach.
• Ability to work under pressure and meet tight deadlines.

How to apply

Interested and qualified applicants are requested to click on the link below, fill out the online application form, and submit it by 8th October 2024. Any applications received after the closing date shall not be accepted.

https://forms.office.com/r/uSCcsxVR44

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