Sacco Societies Regulatory Authority (SASRA) was established under the Sacco Societies Act, CAP 490B with a mandate to license, regulate and supervise the Sacco Sector in Kenya. The Sacco Societies Regulatory Authority (SASRA) is a Semi-Autonomous Government Agency under the Ministry of Co-operative, Development and Marketing. It is a creation of the Sacco Societies Act 2008 and was inaugurated in 2009 charged with the prime responsibility to licence and supervise Deposit Taking Sacco Societies in Kenya. The establishment of SASRA falls within the Government of Kenya’s reform process in the financial sector which has the dual objectives of protecting the interests of Sacco members and ensuring that there is confidence in the public towards the Sacco sector and spurring Kenya’s economic growth through the mobilization of domestic savings.

Ref: SASRA/HRA/1000/09/VOL. I (121)

ROLE SUMMARY

Implement the legal and regulatory framework on prudential supervision and market conduct to enhance the financial stability of the Sacco sub-sector, to enhance sound and fair conduct of Sacco business and empowerment of consumers.

KEY RESPONSIBILITIES

• Assisting in assessment of license renewal applications as per the laid down procedures.
• Ensuring timely submission of regulatory returns and any adhoc reports by the Saccos.
• Assisting to check completeness and accuracy of the regulatory returns.
• Assisting in basic analysis of the financial and related data from the regulatory returns to understand performance and compliance status of the assigned Saccos.
• Understanding the prudential and market conduct regulatory framework in relation to performance of the Sacco societies
• Assisting in the inspection of premises for new branches of SACCO societies in line with the regulations and guidelines and make appropriate recommendations.
• Assisting in assessing corporate approval requests (such as establishment of branches, agency business introduction of new loan products, initiation of shares drive among others) from SACCOs and making recommendations through the supervisors
• Assisting is updating the register of corporate approval requests and determinations thereof.
• Assist in updating data and information on financial, operation, management and governance profile of the Saccos.
• Assisting in inspections and drafting of reports
• Drafting letters and other correspondence to the Saccos
• Ensuring timely dispatch of information, general correspondences, and circulars to SACCOs assigned and confirming timely receipt by the SACCOs in line with the laid down policy.

JOB SPECIFICATIONS

• Bachelor’s degree in any of the following fields: – Finance, Economics/Statistics, Cooperative Management, Accounting, Business Administration/Management, Law, ICT or any other relevant qualification from recognized institution.
• Demonstrate proficiency in relevant Computer Application; and
• Certificate in Computer Application Skills.