Vacancies at Finnlemm Sacco

Job Summary (Purpose of the Job)

To provide effective support to the Finance & Investment Manager and is responsible for Financial Analysis, Investment reporting and Anti-Money Laundering compliance.

Job Role Summary

• Financial Management and Reporting
• Financial Analyst
• Investment Role – (Research and Advisory)
• Anti-Money Laundering Reporting (Compliance Role)

Key Responsibilities

Financial Management and Reporting

• Prepare monthly and periodic financial statements, including profit and loss accounts, budgets, cash flows, variance analysis and commentaries;
• Report on the Sacco’s assets and liabilities including balance sheet account reconciliations and review of intangible assets;
• Maintain accruals and prepayments schedules;
• Work closely with the Head of Finance to ensure financial systems are fit for purpose, sustainable and that users have correct access rights;
• Participate in the development, monitoring and review of departmental accounting policies, procedures and processes;
• Prepare monthly, quarterly, half-year and annual reports for management and board;
• Assist with the annual budgeting process.

Anti-Money Laundering Role

• Undertake Customer Due Diligence (CDD) as per the law and KYC/AML policies;
• Ensure compliance with local and international AML laws;
• Monitor and investigate suspicious activities and report to relevant institutions;
• Identify, assess, and mitigate risks related to money laundering and terrorist financing;
• Participate in the development, implementation and enforcement of the Sacco’s KYC/AML compliance program;
• Promote a culture of compliance through training and sensitization;
• Work closely with law enforcement, regulators, and auditors during AML investigations.

Financial Analysis and Investment Role

• Analyze financial performance and contribute to medium and long-term business planning/forecasts;
• Perform research and identify current market trends;
• Work with the Head of Finance on finance initiatives and process improvements;
• Examine financial data and recommend investment options;
• Perform financial forecasting and suggest budgets and strategies;
• Interpret and optimize financial data;
• Evaluate financial statements;
• Evaluate profit margins;
• Maintain a general ledger and accounts receivable database.
• Performs any other responsibilities assigned by the Supervisor from time to time.

Knowledge, Skills and Experience

Academic & Professional Qualifications

• Bachelor’s degree in Finance, Banking, Accounting, Economics or a business-related field;
• Holder of CPA (K) and member of ICPAK in good standing;
• At least five (5) years’ experience in financial institution operations;
• At least three (3) years’ experience in a similar position in the Financial or SACCO sector;
• Compliance and Risk Management knowledge;
• Certifications such as CFCS or Certified Forensic Fraud Examiner will be an added advantage;
• Certified Investment Analyst qualification will be an added advantage.

Technical and Interpersonal Skills

• Excellent command of computer packages; experience in Microsoft Dynamics ERP Navision is mandatory;
• Experience in financial services, compliance, auditing, or risk management;
• Hands-on experience with AML and fraud detection systems;
• Knowledge of SACCO laws, AML policies, tax legislation, and relevant regulations;
• Understanding of IFRS and SASRA Regulations;
• Strong organizational and leadership skills;
• Analytical and investigative skills with attention to detail;
• Excellent communication skills.

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Job Summary (Purpose of the Job)

Working closely with the Credit Manager, the Senior Credit Officer is responsible for maintaining the health of the loan portfolio by balancing the institution’s growth goals with sound risk management. The role ensures loan products remain profitable while maintaining a high level of credit quality and compliance with regulatory standards. The officer also closely monitors distressed loans/debt portfolios to ensure full repayment as stipulated in the terms and conditions, preventing losses due to non-repayments.

Job Role Summary

• Credit Monitoring & Recovery
• Credit Reporting and Analysis
• Regulatory Compliance & Credit Policy Enforcement
• Credit Risk Management
• Loan Approval and Underwriting
• Credit Product Development

Key Responsibilities

Credit Monitoring and Recovery

• Develop and implement strategies for managing delinquent loans and recovering funds from non-performing loans (NPLs), including working with collections teams;
• Monitor distressed loans/debts repayments and initiate or recommend appropriate action;
• Instruct and follow up with external service providers on Non-Performing Asset matters i.e. debt collectors, auctioneers etc.;
• Conduct member visits (on a need basis) and make telephone calls to follow up on payments from Non-Performing Assets;
• Report on NPAs (write-offs, collections, guarantors, etc.) on a regular basis and provide information to Management and the Board through the Credit Manager;
• Ensure records are maintained to track recovery progress for all loans/debts in arrears;
• Ensure weekly arrears reports are prepared, submitted, and followed up for full repayment;
• Ensure demand letters are prepared and forwarded to defaulting members.

Credit Reporting and Analysis

• Project trends affecting portfolio collectability and identify potential problem areas;
• Track and monitor loan portfolio performance, identifying early signs of delinquency;
• Generate regular reports on credit approvals, loan performance, delinquency rates, and other key metrics;
• Analyze credit data and trends to improve approval processes and risk management.

Regulatory Compliance & Credit Policy Enforcement

• Ensure all credit activities comply with internal policies and regulatory requirements;
• Prepare and submit accurate reports to regulatory authorities within timelines;
• Communicate credit policies and updates to relevant staff and ensure adherence;
• Design and implement credit policies to manage risk and maintain profitability;
• Extract, confirm and transmit information to licensed Credit Reference Bureaus.

Delegated Roles

• Evaluate credit risk for potential loans and ensure approvals meet risk standards;
• Monitor and manage the overall loan portfolio to minimize default risk;
• Lead the loan application review and approval process;
• Set and maintain underwriting standards across credit products;
• Collaborate with departments to design and improve credit products;
• Stay informed on market trends and recommend competitive credit solutions.
• Any other duties assigned by the Supervisor from time to time.

Knowledge, Skills and Experience

• Bachelor’s degree in Finance, Accounting, Banking, Credit Management or a related field;
• Professional qualification in Credit Management (Certified Credit Professional) or CPA(K);
• Minimum of 6 years’ experience in credit administration or loan management;
• Proficiency in business appraisals and financial statement analysis;
• Knowledge of SASRA regulations is an added advantage;
• Proficient in MS Office; experience in Navision is an added advantage;
• Strong analytical, communication, negotiation and interpersonal skills;
• Ability to advise senior management on credit initiatives;
• Strong business acumen and reliability;
• Excellent customer service and interpersonal skills;
• Experience in team leadership and supervision;
• Strong report writing and data analysis skills;
• Proven ability in credit risk analysis and mitigation.