Msilikali SACCO
VACANCY – FINANCE MANAGER
Msilikali SACCO (MSACCO), an affliate of Malawi Union of Savings & Credit Cooperatives Ltd (MUSCCO), is a member owned and democratically controlled financial cooperative society that aims at providing quality and affordable financial services to its members ( Malawi Defence Force Employees) , and currently has opened the services to Government Ministries, Departments and Agencies employees ( Civil servants).
Therefore, Msilikali SACCO invites application from suitably qualified candidate for the post Finance Manager tenable at its Head Office in Lilongwe.
A. Duties and Responsibilities
1. Financial Accounting, Information and Reporting
- Oversee the reporting of financial information for every area of the business to aid decision-making
- Report financial results to the senior management team, General Manager and the Board
- Oversee production of the monthly management accounts, to include P&L, balance sheet, cash
flow, prepayments & accruals. - Oversee payroll, the accounts and bookkeeping function, the cash function, end of day procedures to include daily cash balancing & reconciliation, and the electronic member payments function.
- Overall responsible for Fixed Assets and Inventory Management
2. Strategic Projects, Business Plans, Budgets and Financial Strategies
- Report the financial status of the SACCO by developing forecasts, reporting results, analyzing
variances and developing improvements. - Develop finance and organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction.
- Develop performance measures that support MSACCO’s strategic direction
- Develop and contribute to strategic plans, annual business plans and budgets.
- Provide support to the General Manager regarding analysis of the performance of the business e.g. key ratios, income analysis, product/loan analysis, cost analysis, productivity and performance, etc.
3. Treasury & Investment Management
- Oversee forecast cash flow positions, related borrowing needs and funds available for investment
- Ensure sufficient funds are available to meet ongoing operational and capital investment
requirements. - Develop cash targets to support efficient liquidity management
- Makes decisions about financial and investment opportunities for approval by the Board
- Reviewing all contracts and pricing models across the business
4. Manage Internal / External financial relationships
- Management relationships with MDF, RBM, MUSCCO and other key stakeholders
- Oversee the preparation of regulatory & financial returns to third parties to include the RBM,
Registrar of Cooperatives & MUSCCO - Liaise with other third parties to include internal auditors in relation to the SACCO’s finance function.
- Serve as the primary contact with commercial banks in cash management services, trust, custody and with business managers regarding day-to-day treasury needs
5. People Management
- Participate as a member of the senior management team and work cohesively with team members to achieve the standards of excellence and performance required to reach the vision of the SACCO.
- Maintain good relations with all members of the management team
- Continuously act as a role model leader demonstrating the highest standards of professionalism, behaviour, ethical management, integrity and honesty.
- Supervise professional and finance support staff
- Ensures that work area is clean, secure, and well maintained.
- Manage the SACCO payroll system
6. Financial and Risk Management and Audits
- Coordinates and prepares for financial audits and examination by RBM, MUSCCO, Supervisory
Committee as well as internal and external auditors - Prepares and/or reviews required tax returns.
- Recommends changes in financial policies and procedures, as necessary.
- Monitors established internal controls to assure proper compliance and recommends changes
where necessary - Regularly balance various general ledger accounts
B. Minimum qualifications, experience, knowledge, skills, and abilities:
- Minimum of BSc degree in Finance, Accounting or Economics
- Additionally, be a qualified Chartered Accountant with ACCA, CIMA or ICAM
- Member of Institute of Chartered Accountants in Malawi (ICAM) in good standing
- 3 – 5 years working experience in financial industry
- Understanding of SACCO or Financial Cooperative business model
- Ability to motivate and lead employees
- Knowledge of Fin-Financials Core banking system or any banking system
- Inherent leadership qualities (team player, hardworking, passionate, positive attitude, inspiring, visionary, accountable, etc)
- Strong analytical background
- Contract management experience
Method of Application
Application letter, CV and copies of certificates should be emailed to [email protected] with
email subject “Finance Manager Application” not later than 23rd March 2024.
Or hand delivered to:
Address applications to:
The General Manager
Msilikali SACCO
Kamuzu Barracks
P/Bag 43
Lilongwe
Only short-listed applicants will be acknowledged. MSILIKALI SACCO is an equal opportunities employer.