Jobs at:Universities Fund
Deadline of this Job:
29 April 2022
Date Posted: Wednesday, April 20, 2022 , Base Salary: Not Disclosed
Qualifications, Skills and Experience Required:
• Bachelor’s degree in Commerce, Business Administration, Economics, Statistics, Sociology, or related disciplines.
Professional Qualifications / Membership to professional bodies
• A Supervisory Course lasting not less than two (2) weeks from a recognized institution;
• Certified Public Accountants CPA (K) or its equivalent from a recognized Institution.
Previous relevant work experience required.
• 4 years relevant experience.
• IT Proficiency
• Financial Management
Behavioral Competencies/ Attributes:
• Team player
• Reliable & Dependable
• Attention to details
• Fulfill the requirements of Chapter six (6) of the Kenyan Constitution 2010
The job holder is responsible for Gathering, analyzing financial information, investigating variances, timely processing of financial transactions, participating in formulation and implementation of financial, accounting, short term placement policies and procedures that ensure optimal returns, ensuring timely payments, receipts and maintenance of optimal cash flows. Further, supervision of Financial Accounting and Receipting staff.
Managerial / Supervisory Responsibilities
• Managing the financial accounting section team to enhance productivity.
• Coordinating maintenance of the fixed assets register to ensure control and prevent theft of assets:
• Coordinating formulation of accounting controls procedures and processes to ensure consistency in the day-to-day operational activities;
• Overseeing the development of policy guidelines including risk analysis for short-term placements that generate returns of over Kshs.90 Million to achieve optimal returns;
• Coaching and mentoring the direct and indirect reports for succession planning;
• Co-ordinating the preparation of external and internal audit materials and financial reporting to ensure smooth audit exercise;
• Coordinating the preparation of budgets and financial plans for the section, based on the strategic plan and Enterprise Risk Management reports to ensure adequacy of resources;
• Approving Leave requests for direct reports and to ensure adherence to leave plan;
• Coordinating preparation of annual work plans and budgets to ensure achievement of set objectives;
• Coordinating the management of the Fund’s assets worth over Kshs.47Billion to ensure achievement of value for money in acquiring, utilization and disposal of the assets and improve cost efficiency;
• Coordinating the development of performance management system in the Department to monitor and improve performance;
• Coordinating the Implementation of sound financial management practices that ensure effective internal controls and Risk Management to prevent and detect fraud and corruption; and
• Supervising preparation of Risk register to ensure identification, determination of impact of risk and propose corrective actions;
Operational Responsibilities / Tasks
• Coordinating implementing of an effective system of internal control that adheres to the Fund’s policies and procedures to protect the assets of the institution worth over Kshs 47 Billion;
• Coordinating evaluation of short-term placement portfolios that generate returns of over Kshs.90 Million, to ensure investment performance is tracked and appropriate measures are taken to ensure optimal returns on placed funds;
• Reviewing of financial plans and budgets worth over Kshs.240 Million regularly to seek for cost reduction opportunities;
• Ensure implementation of financial reporting systems to comply with government regulations and legislation;
• Implementation of the performance management system in the Section to monitor and improve performance;
• Recommending improvements for accounting systems and processes to ensure efficiency and effectiveness;
• Ensure prudent selection of securities and investment of Institution’s fund to achieve the required and or set investment goals;
• Ensure maintenance of the departmental Risk Register to reflect the potential risks, facilitate mitigation and or corrective action;
• Implementing sound financial management practices that ensure effective internal controls and effective Risk Management to prevent and detect fraud and corruption;
• Reviewing policies and procedures to streamline sectional internal processes;
• Ensuring reconciliation of the general and subsidiary ledgers, fixed asset register, accounts receivable and payable, revenue distribution and operating expenses to ensure accuracy of financial information;
• Ensuring Implementation of investment plan to guide prudent investment of Institution’ fund;
• Facilitate investment research to gather information that facilitate investment decisions;
• Ensure timely production of investment reports and briefs for decision making;
• Supervise payment process including payroll processing and payment of the Fund’s suppliers to ensure adherence to Turn Around Time as stipulated in the Service Level Agreements (SLAs);
• Supervise preparation and payment of tax and other statutory deductions to ensure adherence to statutory deadlines;
• Ensure preparation of periodic reports for decision making;
• Participation in committees to increase exposure and share skills;
• Review and Implement the Universities Fund Management Systems (UFMS) to streamline internal processes and ensure consistency in the day-to-day operational activities;
• Ensure adherence to laid down accounting controls procedures and processes to ensure consistency in the day-to-day operational activities; and
• Preparing interdepartmental Service Level Agreements (SLAs) to enhance service delivery.
• Approval of expenditures worth over Kshs.19 Billion;
• Approval of petty cash expenses;
• Recommends approval of short-term placements averaging to Kshs.3 Billion;
• Preparation of section budget; and
• Ensuring timely and accurate payments, receipts, and update of ledgers.
Responsibility for physical assets around the area of work:
• Responsible for physical assets assigned by the Fund worth over Kshs400,000/-; and
• Supervising maintenance of the fixed asset register with assets worth over Kshs.1 Billion.
The job holder will be required to solve the following type of problems
• Complex and open-ended problems in the accounting complexities affecting the Fund.
• Problems are broad and complex, involving more than one area of the Fund.
• Solutions will often be arrived at through consultation, involve significant financial risk and require Board approval. Consultations will be required. Solutions will involve significant financial risk, and be decided as part of a Board.
• Problems are highly complex, requiring significant research and creative thinking. Consultations will be required.
The job holder will need to understand the following information to discharge his/her mandate:
• Detailed written /email instructions or requests from various departments on the implementation of the approved budget;
• Financial reports, in depth technical reports, proposals or project briefs affecting the cashflows and financial status of the Universities Fund.
• Reports, proposals or project briefs affecting the financial status of the Fund.
• High level proposals on the utilization of the Fund’s financial resources.
Work Hours: 8
Experience in Months: 48
Level of Education: Bachelor Degree
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