Jan 4, Kenya Red Cross Society Finance Officer Jobs

What You Will Do

Responsible to the Finance Manager (FM). This role involves budgeting, financial reporting, compliance, and collaborating with other departments to ensure efficient financial operations. The Finance Officer ensure accurate and timely postings and reporting on both receipts and payments according to college policies. The Finance Officer works closely with the FM to maintain financial stability and transparency within the college.

Scope of the Role:

Budgeting

Financial reporting

Compliance

collaborating with other departments

Your Key Responsibilities:

Budget Management:

Develop and manage the annual budget in collaboration with relevant departments and Monitor budget performance and provide regular reports to the FM.

Financial Reporting:

Review of cash and bank reconciliations and ensuring they are done within set deadlines

Maintain and update fixed assets register and reconciling it to the General ledger monthly and ensure capital equipment is tagged upon receipt

Prepare on a timely manner an accurate monthly Depreciation Schedule.

Processing Part time payroll and reconcile payroll to General ledger monthly and distribute pay slips to staffs at the end of each payroll.

Prepare and capture part time payroll journals in the transaction system accurately and timely in the appropriate accounting periods

Maintain an orderly and clean chart of accounts

Prepare accurate and timely financial reports for internal and external stakeholders.

Ensure compliance with accounting principles, regulatory requirements, and college policies.

Present financial information to the FM and other stakeholders as required.

Cash Flow Management:

Monitor cash flow and liquidity to support day-to-day operations.

Coordinate with relevant departments to forecast cash needs and optimize cash management strategies.

Maintain relationships with financial institutions and manage banking activities.

Financial Analysis:

Conduct financial analysis to support decision-making processes.

Evaluate the financial performance of various college programs and initiatives.

Provide insights and recommendations based on financial data.

Income/Grants/Funding:

Ensure accurate and timely invoicing

Prompt debts collection as per the policy

Fee Structure and policy set up for all Programmes and inputting fees structure in the system every trimester accurately and timely

Prepare provisions of bad and doubtful debts and write offs where applicable as per International Financial Reporting Standards and College policy

Reconcile the Student debtors in Unisol system and student debtors in Microsoft Dynamics NAV system to ensure accuracy and completeness of data on monthly basis

Prepare aged debtors reports on a monthly basis

Sending reminders to students and parents with balances and follow up of the same

Keep an up to date student’s status records in relation to (continuing, graduated, academic leave, expelled etc.) in liaison with registry office

Identify and pursue opportunities for grants and funding to support college projects.

Ensure compliance with projects requirements and reporting obligations.

Payables Management:

Verification of supplier payment vouchers to ensure they are complete, accurate, fully approved and posting them into the system

Ensuring proper authorizations for payments is strictly followed and any expenditure incurred is supported by payment vouchers

Review of creditors reconciliations ensuring they are done within set deadlines

Audit and Compliance:

Facilitate external audits and ensure compliance with accounting standards.

Implement and maintain internal controls to safeguard college assets.

Address audit findings and implement corrective actions as necessary.

Financial Policies and Procedures:

Develop and update financial policies and procedures to ensure adherence to best practices.

Educate and train staff on financial policies and procedures.

Collaboration:

Collaborate with other departments to gather financial information and support their financial needs.

Provide financial guidance and support to department heads.

Any other duties assigned by management.

Minimum Requirements:

Bachelor’s Degree in Accounting and Finance plus CPA (K) or equivalent qualifications

Over Four (4) years’ experience in financial accounting in a learning institution

Key Skills and Competencies

Considerable knowledge of financial accounting systems

Ability to perform professional accounting work in accordance with the international “Generally Accepted Accounting and Auditing Principles” (GAAP), procedures and controls

Effective communication skills ability to present ideas clearly, both orally and in writing and to prepare comprehensive reports

Ability to identify and resolve problems in a timely manner, gather and analyze information skillfully, develop alternative solutions, work well in group problem solving situations and use reason even when dealing with emotional topics

Considerable knowledge of computerized information and financial management systems, proficiency in database systems, spreadsheet and flow chart applications, computerized accounting systems

Demonstrate ability to meet deadlines, analyze financial and operational data and information, think analytically and critically

Ability to maintains high level of confidentiality, remain open to new ideas and experiment with improved systems and proven methods

Ability and willingness to make consultative decisions, exhibit sound and accurate judgment, support and explain reasoning for decisions, include appropriate people in decision-making process and makes timely decisions

How to Apply

For more information and job application details, see; Kenya Red Cross Society Finance Officer Jobs

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