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Finance Officer job at Millennium SACCO2012 | Apply Now

Are you looking for Finance jobs in Uganda 2024 today? then you might be interested in Finance Officer job at Millennium SACCO2012

Mbarara, Uganda

Full Time

Deadline: 

15 Dec 2024

About the Organisation

MSACCO2012 offers full-service banking convenience with an 8 branch network across Uganda through our Mobile banking platform, SMS banking services.

Job Title

Finance Officer job at Millennium SACCO2012

Millennium SACCO2012

Job Description

Job Title:  Finance Officer

Organisation: Millennium SACCO 2012 Ltd

Duty Station: Mbarara, Uganda


The Finance Officer will manage financial operations, monitor the SACCO’s financial performance, and ensure compliance with regulatory requirements. The role involves processing transactions, preparing financial statements, managing accounts payable and receivable, and providing financial advice to the SACCO’s management.

Duties, Roles and Responsibilities

Key Responsibilities:

  1. Financial Reporting and Analysis:

    • Prepare monthly, quarterly, and annual financial statements, including balance sheets, income statements, and cash flow reports.

    • Analyze financial data to ensure the SACCO's financial health and assist in decision-making.

    • Provide management with insights on financial performance, trends, and areas for improvement.

  2. Budgeting and Forecasting:

    • Assist in the preparation of annual budgets and financial forecasts.

    • Monitor budget adherence, providing variance reports and making recommendations to ensure financial stability.

  3. Account Management:

    • Oversee the SACCO’s accounts, including managing member deposits, loans, and interest calculations.

    • Ensure accurate and timely processing of member transactions (deposits, loans, withdrawals).

    • Reconcile bank accounts and resolve discrepancies.

  4. Regulatory Compliance and Reporting:

    • Ensure adherence to SACCO bylaws, policies, and government regulations.

    • Prepare and file regulatory reports, including those for the Central Bank, Sacco Societies Regulatory Authority (SASRA), or any other relevant bodies.

    • Coordinate with auditors during annual audits and ensure the implementation of audit recommendations.

  5. Cash Flow Management:

    • Monitor and manage the SACCO’s cash flow to ensure operational efficiency.

    • Optimize cash management practices, ensuring sufficient funds are available for lending and operational activities.

  6. Internal Controls:

    • Implement and maintain internal financial controls to safeguard SACCO assets.

    • Monitor compliance with financial policies and procedures.

  7. Loan Portfolio Management:

    • Oversee the management of the SACCO’s loan portfolio, including loan disbursements, repayments, and interest calculations.

    • Monitor loan delinquency and recommend corrective actions when necessary.

  8. Member Support and Communication:

    • Provide financial advice to SACCO members regarding savings, loans, and other financial services.

    • Respond to member inquiries and resolve issues related to accounts, loan processing, and financial statements.

  9. Other Duties:

    • Participate in strategic planning and financial decision-making for the SACCO.

    • Any other duties as may be assigned by the Finance Manager or SACCO management.

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Qualifications, Education and Competencies

Qualifications:

  • A Bachelor’s degree in Finance, Accounting, Economics, or a related field. Professional certifications like CPA, ACCA, or CFA are an advantage.

  • Must have a credit in Mathematics and English at O’level.

  • Expertise in budgeting, financial planning, and forecasting.

  • Ability to prepare and analyze financial statements and reports.

  • Proficiency in bookkeeping, ledger management, and reconciliation.

  • Knowledge of taxation laws and compliance requirements.

  • Strong understanding of internal controls

  • High ethical standards and commitment to maintaining confidentiality.

  • Strong accountability for financial transactions and reporting.

How to Apply

All interested person(s) should submit a hand written application and CV indicating the job applied for addressing it to:

The Chairperson Human Resource Committee,

Millennium SACCO 2012 Ltd,

Head Office P.O Box 14, Mbarara. Uganda

Deadline: 15th December 2024 by 5pm

NB: Only successful candidates will be contacted.


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