School Bursary at Aga Khan Education Service, Kenya (AKESK)

Role Summary.

• Overseeing the financial operations of the school, ensuring effective management of funds, compliance with financial regulations and accurate record-keeping. This role is pivotal in maintaining the financial health of the institution and supporting its educational objectives.

Key Responsibilities
Financial Management

• Oversee day-to-day financial transactions, ensuring proper documentation and adherence to accounting standards.
• Lead budget specific discussions during budgeting process, including forecasting revenues and expenditures.
• Manage accounts payable and receivable, ensuring timely payments and collections.
• Conduct regular bank reconciliations and maintain accurate cash flow records.
• Managing of petty cash
• Enforce practices that are in line with company’s finance policies among the school staff & other stakeholders.

Fee Collection and Student Accounts

• Ensure accurate billing of tuition and other fees, and oversee the collection process.
• Maintain up-to-date student financial records, including ledgers and receipts.
• Implement and monitor payment plans for students as necessary.
• Maintain monthly revenue report template and National Financial Institute (NFI).
• Sending monthly reminders on fees to parents and making calls for non–responsive cases.
• Monitoring and taking corrective measures against fee defaulters and report to HT for escalation and further action.
• Maintaining receipts of payment from other incomes e.g. Use of facilities – Swimming pool / hall / field hire, other disposals etc.
• Banking duties which include cheque deposits, following up on direct banking and bank transfers.
• New admissions /Exit
• Confirm approval of admissions.
• Follow up on payments
• Ensure deactivation of students who have left the school.
• Reconciliation of class registers and SIS to match student numbers.
• Processing of approved and authorized caution refund upon student clearance.

Procurement and Asset Management

• Coordinate procurement processes, ensuring value for money and compliance with procurement policies.
• Maintain an up-to-date inventory of school assets and oversee their proper utilization.
• Ensure the safeguarding of school assets through proper coding and record-keeping.

Compliance and Reporting

• Prepare and submit accurate financial reports to the school management and relevant authorities.
• Ensure compliance with statutory financial regulations, including tax fillings and audits
• Collaborate with internal and or external auditors during financial audits and implement recommended improvements.

The requirements

Qualifications and Experience

• Bachelor’s Degree in accounting, finance or commerce.
• Certified Public Accountant (CPA) finalist or equivalent.
• At least 3 years of experience, preferably within an educational institution.
• Proficiency in accounting software.
• Strong understanding of Kenyan financial regulations and statutory requirements.