Sacco Head of Finance at Co-operative Bank of Kenya

Duties & Responsibilities

• Provide strategic financial leadership and advice to Management and the Board.
• Ensure the timely and accurate preparation and presentation of monthly, quarterly, and annual financial statements, management accounts, and Board reports in compliance with IFRS standards.
• Oversee preparation of accurate and timely financial statements and management reports.
• Lead the annual budgeting and planning process; review all financial plans and budgets, monitor progress, forecast and report on financial performance to senior management in a timely manner.
• Develop and implement the Sacco’s financial strategy, ensuring alignment with its strategic goals; provide strategic financial advice to the CEO and the Board.
• Ensure full compliance with all applicable laws and regulations, including the Co-operative Societies Act, Sacco Societies Act, Regulations and guidelines, KRA tax requirements and regulations and other statutory requirements.
• Manage the Sacco’s cash flow, treasury forecasting, and liquidity to ensure adequate funding and optimize the use of financial resources.
• Establish and maintain robust financial internal control and risk management systems and accountability frameworks to safeguard assets.
• Optimize the allocation of resources to enhance operational efficiency and scalability.
• Supervise Accounts and Procurement functions to ensure efficiency and compliance.
• Coordinate external and internal audit processes and implementation of audit recommendations.
• Monitor financial performance and recommend corrective actions where necessary.
• Lead, mentor, and develop the finance and operations teams, fostering a high-performance culture.
• Drive professional development, performance appraisals, and training for staff.
• Establish performance targets, monitor team performance, and ensure accountability.
• Support digital transformation and automation of finance processes.

Qualifications

• Bachelor’s degree in Accounting, Finance, Business Administration, Economics, Agribusiness or a Business related degree or its equivalent from a recognised university.
• A Master’s degree (MBA or equivalent) is an added advantage.
• Certified Public Accountant of Kenya CPA(K) or its equivalent.
• 6 years’ practical experience in a financial institution of which 3 years must be in a management position.