Finance Officer at Technical University of Mombasa

Vacancy No. TUMEL/HR&ADM/FO/15/04/2024

Reporting to the Managing Director

The Finance Officer will be responsible for the overall financial activities of the company, create forecasting models, assess risk in investments, and ensure all accounting activities comply with relevant laws and regulations. The Finance Officer will ensure proper maintenance of TUMEL financial records and accounts and the smooth functioning of all TUMEL finance operations. The Finance Officer will also be in charge of processing and recording all financial transactions; financial reporting to the Board and Management; managing relationships with suppliers and partner organizations; and ensuring the company meets its statutory and regulatory obligations on time, among other responsibilities.

Key Duties and Responsibilities

•  Ensure the development of financial policies to guarantee a standardized system of operations in the management of the Enterprise finances;
•  Preparation of the quarterly reports and financial statements for submission on or before the statutory deadline;
•  Develop and maintain timely and accurate financial statements and reports that are appropriate for the organization and in accordance with generally accepted accounting principles.
•  Develop, implement, and ensure compliance with internal financial and accounting policies and procedures;
•  Ensure all payments are correctly authorized, recorded, and paid;
•  Ensure monthly reconciliation of all bank accounts done;
•  Ensure all financial transactions are correctly recorded in the accounting system
•  Prepare monthly financial management accounts;
•  Review monthly results and implement monthly variance reporting;
•  Manage the cash flow and prepare cash flow forecasts in accordance with the policy;
•  Oversee the bookkeeping function including maintenance of the general ledger, accounts payable, accounts receivable and payroll;
•  Update the Board and Management regarding changes in legislation or regulations that may affect the Enterprise’s business operations;
•  Advise senior management on all situations which have the potential for a negative impact on internal controls or financial performance;
•  Ensure statutory deductions and other remittances are executed on time;
•  Manage the acquisition of capital assets and ensure that assets are properly recorded, amortized, and disposed of as appropriate;
•  Support Management in preparation of the annual budget and project-specific budgets
•  Ensure timely financial reporting;
•  Ensure up-to-date company assets record and insurance cover;
•  Facilitating internal and external audits and implementing recommendations of audit management letters implementing recommendations of accounting, systems and compliance audits;
•  Ensure participation of Finance Department staff in continual training programs and career advancement;
•  Evaluation of staff in the Finance Department to ensure adherence to the performance targets; and
•  Perform any such other duties as may be assigned or delegated by the Managing Director.

Professional Qualifications, Requirements and Experience

•  Bachelor’s Degree in Commerce {Accounting/Finance option} OR Bachelor’s Degree in Accounting/Finance OR Business Administration {Accounting/Finance option} OR equivalent qualification from a recognized institution;
•  Must have served for a minimum of 5 years in the field of Accounting and Finance;
•  Must be a CPA (K) or equivalent and be a member of the Institute of Certified Public Accountants (ICPAK);
•  Audit background is an added advantage;
•  Working experience with QuickBooks and any other Enterprise Resource Planning (ERP) System will be an added advantage;
•  High attention to detail and excellent analytical skills; and
•  Experience with iTax system and the month-end/year-end close process.

Personal Attributes

•  Excellent written and spoken English.
•  Accuracy and strong attention to detail
•  Proactive approach to work, self-motivation and a team player.
•  Proficiency in Microsoft Office
•  Excellent interpersonal skills, and ability to deal with people from different cultures.
•  Flexibility to work and adapt to changing demands and circumstances.
•  Ability to train basic skills in Finance for Non-Finance Personnel.
•  Possess excellent communication skills.
•  Good organizational skills.
•  Excellent decision-making ability.
•  Able to supervise staff.
•  Must display a high level of integrity and reliability.
•  Must have good interpersonal attributes.