Finance Officer at Mombo Sacco

Location: Mombo Sacco Head Office, Highway Heights, Marcus Garvey Road, Kilimani, Nairobi, Kenya.

Job Summary:

The Finance Officer will be responsible for managing the financial operations of Mombo Sacco, ensuring accuracy, transparency, and compliance with established financial regulations and standards. This role involves overseeing financial reporting, budgeting, auditing, and working closely with various departments to support the Sacco’s mission of providing innovative financial solutions to its members.

Key Responsibilities:

• Financial Reporting:
  • Prepare and maintain accurate financial statements, including balance sheets, profit and loss statements, and cash flow statements.
  • Ensure compliance with statutory requirements, regulatory reporting, and internal financial reporting standards.
• Budgeting and Forecasting:
  • Assist in the preparation of the annual budget and financial forecasts in collaboration with department heads.
  • Monitor budgetary variances and provide actionable insights to support financial decision-making.
• Auditing and Compliance:
  • Coordinate internal and external audits, ensuring all financial operations comply with cooperative regulations and policies.
  • Implement and continually assess internal controls to safeguard the Sacco’s assets and enhance financial accuracy.
• Accounts Management:
  • Oversee accounts payable and receivable processes, ensuring timely and accurate payments and collections.
  • Manage member transactions, including loan disbursements and repayments, maintaining accurate records in the Mombo App and related systems.
• Financial Analysis:
  • Conduct financial analysis and prepare reports to evaluate the performance of different products, including Flexible Savings, SME Biashara Accounts, and MWallet services.
  • Provide insights on membership growth, lending strategies, and product profitability.
• Support and Collaboration:
  • Work closely with the sales and marketing teams to develop financial strategies that align with the Sacco’s growth and member engagement objectives.
  • Assist the finance team in the preparation of presentations for stakeholders and Annual General Meetings.
• Innovation and Technology:
  • Leverage financial software and the Mombo App to streamline accounting processes and enhance operational efficiency.
  • Stay updated on emerging financial technology trends to support the Sacco's mission of delivering modern financial solutions.

Qualifications:

• Bachelor’s degree in Accounting, Finance, or a related field.
• Professional certification (e.g., CPA, ACCA) is preferred.
• Minimum of 3 years of experience in accounting or finance within a financial institution or cooperative society.
• Proficiency in accounting software and MS Office applications.
• Strong analytical skills and attention to detail.
• Excellent communication and interpersonal skills to work effectively with team members and stakeholders.
• Demonstrated ability to work independently and collaboratively in a fast-paced environment.