Finance Manager – Cost Management at Rafiki Microfinance Bank

Purpose of the Job:
The position will be responsible for cost management, fixed assets management efficiently and effectively to achieve the bank’s strategic goals. 

Reports to:
Chief Finance Officer 

Job Description:

COST MANAGEMENT

• Formulating and implementing cost management initiatives in line with the bank’s strategy. 
• Reviewing and presenting costs analysis reports to the CFO  
• Perform periodic checks on the accuracy and completeness of the bank’s expenses 
• Preparation of annual expense budgets. 
• Budgetary control. 

PAYMENTS 

• Review for proper documentation and approval of payments as per the finance policy and approval matrix. 
• Service provider relationship management. 
• Ensuring that supplier reconciliations are done, and any outstanding issues resolved on time. 
• Ensuring that payments are processed as per the set SLAs. 
• Ensuring all statutory deductions and taxes are remitted on time. 
• Reviewing and approving payments for subsidiary. 

FIXED ASSETS MANAGEMENT 

• Ensuring that all the new assets are verified and capitalized. 
• Periodic fixed asset verification and tagging. 
• Ensuring that the bank’s assets are insured against potential risks. 
• Preparation of the fixed asset movement schedule monthly. 

RECONCILIATIONS 

• Reviewing monthly supplier reconciliations. 
• Reviewing monthly GL reconciliations for fixed assets and accounts payable. 
• Ensuring that the monthly stock take has been carried out and discussing the reports with the C.F.O. 
• Supporting the audit process both internally and externally by providing all the required information within set timelines. 

STAFF MANAGEMENT 

• Managing direct reports and staff matters e.g. training. 
• Prepare performance contract and BSC for staff 
• Manage staff leave as per agreed leave plan 

Knowledge: Skills and Experience required for this Role  

• University degree in any business-related field or equivalent 
• CPA (K) or equivalent 
• 5 – 6 years’ experience, 3 of which should be in a supervisory role 
• Quantitative and qualitative analytical skills 
• Excellent communication and presentation skills 
• A working knowledge of bank’s operating systems controls and general banking. 
• Leadership skills to motivate and empower the team to reach organizational goals. 
• Knowledge and effective application of all relevant banking policies, processes, procedures and guidelines to consistently achieve required compliance standards. 
• Performance Management skills to optimize employee productivity. 
• Interpersonal skills to effectively communicate with and manage customer expectations (internal), and other stakeholders who impact performance. 
• Planning & organizing skills to ensure proper management of objectives, tasks and responsibilities of the unit.