(REF: SA/08/23)
Duties & Responsibilities
- Ensure efficient and effective management of the FOSA department and supervision of staff.
- Coordinate cash collections from the bank and ensure proper recording in the Treasury book and system.
- Design, administer and interpret FOSA policies and procedures.
- Ensure compliance with the relevant statutory and regulatory requirements in the execution of FOSA operations.
- Prepare departmental budgets and ensure adequate budgetary controls.
- Design, implement, and promote demand-driven FOSA-related products and services.
- Manage all society cash payments made through the FOSA.
- Ensure the accuracy of all FOSA transactions.
- Ensure that the FOSA observes liquidity and cash ratios and that adequate levels of cash and treasury management are maintained.
- Ensure the accuracy of the treasury cash movement throughout the Sacco.
- Manage the operations of all FOSA loans and advances to ensure efficiency and income growth throughout the department.
- Prepare monthly FOSA reports as well as product/service consumption.
- Ensuring adherence to cash security arrangements and insurance requirements.
- Responsible for safe custody of cash office Strong room and strong room safe keys.
- Prepare, guide, mentor, and motivate FOSA staff to deliver on the approved strategic goals and targets.
- Conducting performance appraisals for personnel in the FOSA department.
- Identify irregularities such as fraud, forgery, theft, and cash differences, and take appropriate action in collaboration with the Finance Manager.
- Daily reconciliation of Cash office account transactions considering, Front office withdrawals, ATM withdrawals, and replenishment of the two accounts.
- Responsible for filling and Maintenance of all FOSA accounting records.
- Accountable for management of access to the treasury .
- Responsible for issuance of cash and till to the tellers and safe custody of the same before closing of the cash office (end-of-day reports).
- Adherence to the IFRS, Accounting Policies, Sacco Finance policy, Other Sacco Policies, and any other relevant laws and regulations governing the operations of the Sacco.
- Any other duties assigned by the Supervisor.
Qualifications:
- A bachelor’s degree in Co-operative Management, Banking, Accounting, Business, or Economics, from a recognized University.
- CPA (K) and must be an ICPAK member in good standing.
- ACCA Final (an added advantage).
- At least 5 years’ experience in carrying out finance functions in a Deposit-Taking Sacco Society, 3 of which should be in a FOSA Management/supervisory role.
- Conversant with the Co-operative Act, SACCO Act, SASRA requirements, and IFRS.
- Working experience with MS Dynamics Navision.
Submit by 28th August 2023.
