Role Overview:

The Finance Manager is responsible for overseeing the financial health of the Sacco through effective planning, budgeting, reporting, and financial control. This role ensures compliance, supports strategic decision-making, and promotes sustainability and growth through prudent financial management. The ideal candidate will be analytical, detail-oriented, and proactive in improving financial systems and processes.

Key Responsibilities:

Financial Planning & Budgeting

• Develop annual budgets in collaboration with department heads and ensure alignment with strategic goals.
• Monitor budget execution and provide regular variance analysis.
• Lead mid-year reviews and reforecasting activities to ensure financial alignment.

Financial Reporting & Analysis

• Prepare timely and accurate financial statements in compliance with regulatory and accounting standards.
• Present monthly, quarterly, and annual financial reports to management and the board.
• Conduct financial analysis to support decision-making, risk management, and strategic planning.

Cash Flow & Liquidity Management

• Monitor daily cash flow and ensure adequate liquidity for operations and lending activities.
• Develop and implement strategies for optimal fund utilization.
• Maintain relationships with financial institutions for credit facilities and investment opportunities.

Cost Control & Expense Management

• Implement cost-saving initiatives without compromising operational effectiveness.
• Review procurement, supplier contracts, and operational costs to identify efficiencies.
• Track operational expenditures and ensure they remain within budgeted limits.

Compliance, Audit & Risk Management

• Ensure compliance with SACCO laws, tax obligations, and regulatory reporting.
• Coordinate both internal and external audits and address audit findings.
• Monitor financial risks and implement controls to safeguard assets and resources.

Investment Management

• Evaluate and recommend investment options aligned with the Sacco’s growth strategy.
• Monitor performance of investments and ensure adherence to investment policy guidelines.
• Collaborate with the board to make strategic investment decisions.

Financial Systems & Process Improvement

• Oversee the implementation and improvement of financial systems and software.
• Develop and enforce internal controls and standard operating procedures (SOPs).
• Automate financial processes to improve accuracy, timeliness, and efficiency.

Team Leadership & Development

• Lead and mentor the finance team to ensure high performance and continuous development.
• Provide guidance on complex financial matters and professional development opportunities.
• Build a culture of integrity, accountability, and service excellence within the department.

Stakeholder Engagement & Financial Advisory

• Collaborate with senior management to align financial strategies with organizational objectives.
• Advise on cost-benefit analyses, financial forecasts, and funding strategies.
• Represent finance in strategy meetings and cross-functional projects.

Performance Measurement & Reporting

• Track key financial performance indicators (KPIs) to assess organizational health.
• Provide insights on financial trends and benchmarking against industry standards.
• Recommend actions based on performance data and financial forecasts.

Requirements

Qualifications & Skills:

• Bachelor’s degree in Finance, Accounting, Economics, or a related field.
• CPA (K), ACCA, or equivalent professional qualification.
• Minimum of 8 years of progressive financial management experience, with at least 3 years in a leadership role.
• Experience in the Sacco or financial services sector is an added advantage.
• Proficiency in accounting software and financial management systems.
• Strong knowledge of IFRS, tax laws, and regulatory requirements.
• Exceptional analytical, planning, and problem-solving skills.
• High integrity, attention to detail, and confidentiality.

Key Competencies & Skills

• Strategic financial thinking and sound judgment.
• Strong interpersonal and communication skills.
• Leadership and team-building abilities.
• Results-oriented and proactive in decision-making.
• Ability to manage multiple priorities and meet deadlines.
• High level of professionalism and ethical standards.