Bandari Sacco Finance Manager Job in Kenya

Bandari Sacco Society Ltd, the leading Sacco in the Coastal region
with a nation-wide membership has adopted a new strategy to strengthen
its market leadership and position herself for optimization of
efficiencies and delivery of superior returns to members. 
Part of this strategy is the attraction and retention of the best talent to drive the strategy. 
this end, the Board wishes to recruit a suitably qualified and
experienced individual within the Sacco leadership team and welcome all
applications in the following position:
Job Title: Finance Manager


Job Reference: FM/2/2016
Reports to: The Chief Executive Officer
Job Summary: The
chief Finance manager will be responsible for strategic financial
planning and management, financial advisory, resources mobilization
& reporting. Responsible to the Chief Executive Officer for the:
development, installation and implementation of all financial and
administrative systems and procedures in the SACCO. 
incumbent will provide effective and efficient coordination and
supervision of accounting, financial and treasury management through the
development of programs and policies of sound accounting and AMP,
Financial systems & internal control procedures in accordance with
regulatory standards and SACCO policies. 
responsibilities also will cover timely production of monthly/annual
financial reports and preparation for annual audit of the SACCO and
overseeing all purchases, payroll and all other payments of the SACCO.
Main Duties and Responsibilities
  • To develop and implement procedures and activities that will ensure the adequacy of cash flows in the SACCO.
  • To develop and maintain a financial system that provides fast, up to date and timely financial reports in the SACCO.
  • To
    prepare society budgets based on inputs from departmental/sectional
    managers as well as Board of Directors and other stake holders.
  • To
    record and maintain the general ledger and subsidiary ledgers of all
    financial transactions of both COSA and FOSA and the entire SACCO.
  • To
    prepare timely, accurate and reliable financial reports for decision
    making by the Board i.e. – monthly trial balance, income and expenditure
    statement, balance sheet, cash flow statement and loan delinquencies in
    COSA and FOSA
  • To
    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
  • To ensure that the society operations adhere to financial and accounting policies and procedures at all times.
  • To
    maintain proper books of accounts according to the Cooperative
    Societies Act, International Financial Reporting Standards (IFRSs),
    other legislations and regulatory requirements.
  • To implement necessary types of internal control, financial or otherwise to ensure that:
  • The society business is run in an orderly and business manner
  • The SACCO assets are safeguarded and optimally utilized for the benefit of the society
  • The
    SACCO records are accurate and complete – which forms the basis of
    preparing financial reports of the society at any given time
  • All SACCO documents are safely kept for further reference and auditing
  • To develop and maintain efficient cash flow management techniques to meet daily cash demands by the customers in FOSA and COSA.
  • To
    prepare final financial statements and supporting schedules confirming
    the balances in the Society books of accounts and submit them to
    external auditors for examinations and opinion expression thereon.
  • To
    liaise with Government and other regulatory bodies in all matters
    related to taxes, collection of outstanding debts and accounting
    reporting requirements.
  • To
    maintain proper and up to date registers of fixed assets (operating
    assets, dormant/scrap, destroyed/broken assets, assets being disposed
    off by tender committee, collection from disposed fixed assets) fixed
    deposits, investments, Board of Directors allowances etc
  • To
    manage the development and introduction of new investment opportunities
    and the generation of expanded revenues for the SACCO before being
    approved by the Board of Directors for implementation.
  • To
    manage the development and introduction of new investment
    opportunities, projects, liaise with external financiers and donors for
    the generation of expanded revenues for the SACCO before being approved
    by the Board of Directors for implementation.
  • To
    manage the operations of ATM by ensuring availability of funds at all
    times, that it is 24 X 7X 365 hour operational and that all the required
    ATM reconciliations are done on timely basis
  • To
    ensure that computer systems acquired by the society can adequately
    meet the needs of the SACCO financial or otherwise controls are
    sufficient and the vendors’ after sales services are reasonable as and
    when required.
  • Authorizations of member payments and Petty cash.
  • To
    implement, without delay, all recommendations from government
    regulatory bodies, BOD, internal and external audit reports and
    consultants based on agreements arrived at with BOD.
  • To
    supervise day to day accounting activities of staff in the department
    and provide support and backstopping to the work of staff in the
  • To participate in seminars to keep abreast of the changes and their impacts on the SACCO.
  • To seek opportunities to enhance skills and value to the SACCO and make suggestions for improvement
Qualifications including Personal Qualities
  • BBA [ACCA/Finance]/C. P. A (K) or its recognized equivalent or B.Com or its equivalent. MBA [Finance option and added advantage]
  • Has at least 5 years relevant experience
  • Be between 30 – 50 years of age
  • Flare in Current Financial and Business Trends
  • Computer literate
  • Have unquestionable Integrity
  • Excellent People and Culture Management Skills
  • Good Command of the English and Kiswahili Language.
  • Good customer Care skills
  • Tax Compliance from KRA
  • Report From an approved Credit Reference Bureau
  • Clearance from EACC
  • Certificate of Good conduct
How to Apply
candidates meeting the above criteria should forward an application
enclosing detailed Curriculum Vitae accompanied by copies of
certificates, National ID, names and contacts of three referees,
testimonials indicating the current remuneration and expected salary by
e-mail to or quoting the
job reference as the subject matter e.g. “CEO/1/2016” by 24th June
Only short listed candidates will be contacted for interview.

Bandari Sacco is an equal opportunity employer.
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