The Co-operative Bank of Kenya Limited is incorporated in Kenya under the Company Act and is also licensed to do the business of banking under the Banking Act. The Bank was initially registered under the Co-operative Societies Act at the point of founding in 1965. This status was retained up to and until June 27th 2008 when the Banks Special General Meeting resolved to incorporate under the Companies Act with a view to complying with the requirements for listing on the Nairobi Securities Exchange (NSE). The Bank went public and was listed on December 22nd 2008. Shares previously held by the 3,805 Co-operative Societies and unions were ring-fenced under CoopHoldings Co-operative Society Limited which became the strategic investor in the Bank with a 64.56% stake. The Bank runs three subsidiary companies, namely: Kingdom Securities Limited: This is a stockbroking firm with the bank holding a controlling 60% stake. Co-opTrust Investment Services Limited: This is the fund management subsidiary wholly-owned by the bank. Co-op Consultancy & Insurance Agency Limited (CCIA): This is the corporate finance, financial advisory and capacity-building subsidiary wholly-owned by the bank. Our Vision To be the dominant bank in Kenya and the region, riding on the unique Co-operative Model providing innovative financial solutions for distinctive customer experience. Our Mission To offer a wide range of innovative financial solutions leveraging on our heavy investment in multi-channels, national and regional presence and with a focus on excellent customer experience by a highly motivated and talented team. Our Values We are Trustworthy We are Innovative and Agile We Value our Customers/People We Share and Collaborate We have Passion for Excellence We are Bold and courageous. Job Summary The Society Finance Manager is responsible for overseeing the financial operations and accounting functions of the Society. The job holder will ensure the Society maintains accurate financial records, manage cash flow, prepare financial reports, and provide strategic financial guidance to leadership, maintain internal controls and statutory compliance. Key Duties and Responsibilities Financial Management & Reporting Prepare and analyse monthly, quarterly, and annual financial statements including balance sheets, income statements, and cash flow statements. Monitor and manage the Society’s cash flow and working capital needs, including accounts receivable (plus ageing), accounts payable, and loan repayments. Ensure accurate and timely posting of all financial transactions into the finance reporting system; and maintain accuracy of the Trial Balance at month-end (integrity of the financial reporting system). Implement an efficient month-end closing process to ensure timely submission of financial reports before end of Week 1 of the following month. Budgeting & Financial Planning Lead the annual budgeting process and monitor budget performance monthly and informing the forecast process. Provide financial analysis and projections to advise the CEO and the Management Committee on the financial viability of housing projects, land purchases and other investments. Cash Flow & Treasury Management Manage cash flows to ensure the Society meets its operational and project obligations. Compliance & Audit Ensure compliance with the Finance Policy guidelines and other applicable laws. Liaise with external auditors and provide all necessary information for the annual audit and timely submission of statutory returns, tax filings, and regulatory reports. Internal Controls & Risk Management Establish and monitor effective internal controls to prevent fraud, errors, and misuse of funds. Identify financial risks and recommend mitigation measures. Ensure proper asset management and reconciliation of accounts. Project & Development Finance Monitor financial performance of key projects, including cost control and expenditure tracking. Work closely with project managers, contractors, and consultants to ensure financial discipline and special financial reports for partners where applicable. Key Relationships Management Committee / Board Treasurer Auditors, bankers, tax authorities, and regulators Contractors, suppliers, and development partners Society members Qualifications and Experience Bachelor’s degree in accounting, Finance, or a related field CPA (K), ACCA, or equivalent professional qualification (mandatory). Minimum 5 years of experience in finance or accounting role. Experience in a cooperative society, SACCO, housing cooperative, or real estate sector will be a strong advantage. Strong knowledge of financial management, accounting principles, and financial reporting Proficient in using financial software and MS Excel applications. Experience with Navision system is an added advantage. Strong communication and presentation skills High level of integrity and accountability Key Performance Indicators (KPIs) Timely and accurate financial reports Budget adherence and cost control Compliance with statutory and regulatory requirements Audit outcomes and implementation of recommendations Effective cash flow and funds management
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Society Finance Manager At Co-Operative Bank Of Kenya
Pioneer Assurance
Insurance
full time
Nairobi
Posted 5 hours ago
KES 1,965 – KES 2,008