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About the Role

The Finance Transformation and Strategy Senior Associate will work directly with the Head of Financial Advisory Services (FAS) to lead different strategic projects and process improvement initiatives that are critical for the Finance division. You will identify and advance opportunities to optimize processes and system automation initiatives. You will gain insight into the broader finance departments and major organization-wide change projects.

Responsibilities

Project Management and Process Improvement 

Lead high-priority projects: directly implement and lead key projects aimed at setting up a scalable and efficient team. You will be working with staff across the Finance Team as you take the lead on such projects, reporting progress back to the Head of FAS and engaging him when necessary. Sample projects include: 

• Create financial models for new business opportunities that emphasize paths toward profitability, process effectiveness, and balance sheet health
• Prepare robust scenario plans that inform short-to medium-term decisions that align with the organization’s objectives, and finance strategy. 

Lead process improvement initiatives: assess existing process flows and initiatives to improve team throughput, define the target state, prepare an implementation roadmap and drive team work prioritization. Sample projects include: 

• Identifying integration opportunities for relevant data, mainly getting us to a roadmap to move to an extended planning and analysis (xP&A) to improve speed of decision making and reduce overall time spent by the team in collating, reconciling and transforming data. 
• On an ongoing basis, identify areas of improvement; research best practices and offer guidance and recommendations for changes and potential solutions.

Financial Management:

• Perform preliminary financial reviews for multiple deliverables such as models from program teams, budget roll ups, board packs, etc.
• Represent Finance to program teams and drive a variety of finance-related projects by working to connect FP&A, Accounting, and Treasury teams with program teams.

Staff Management: you will oversee the professional development and high-quality project work of one Analyst.

Qualifications

Across all roles, these are the general qualifications we look for. For this role specifically, you will have:

• 6+ years of experience in consulting, finance, or financial analysis.
• Solid understanding of using advanced formulas in Excel
• Logical thinker & comfort with analysis. We are looking for someone who is a structured thinker and can use quantitative analysis to create insights and inform recommendations. 
• Strong executive-level communication skills -- the ability to quickly identify what matters and communicate that clearly and concisely to senior stakeholders. 
• Minimum of a Bachelor's Degree
• Language: English

SoCha is contracted to deliver the USAID/Kenya and East Africa (KEA) Localization, Inclusion and Sustainability Activity (LISA) with the aim to assist staff and stakeholders to be more efficient, effective, transparent, inclusive, and skilled in achieving development outcomes.

The LISA team will support USAID’s work to increase locally led, owned, and managed development outcomes. It will utilize local expertise and seek to partner with local entities with in-depth knowledge and networks in Kenya and utilize this expertise strategically. Utilization of local expertise will focus on work objectives entailing close collaboration and interaction with local actors, including local indigenous organizations, counties, companies, institutions, and government.

To support the work of LISA, SoCha is seeking a qualified Finance Specialist.

Scope of Work

The Finance Specialist position will report to the Director of Finance and Administration and will be responsible for supporting all accounting functions of the project.

Responsibilities:

• Account for all project expenditures in QuickBooks
• Ensure that financial policies are followed.
• Use QuickBooks accounting software to monitor actual expenditure against budget.
• Ensure the timely submission of high-quality financial reports, for internal and external audiences.
• Oversee payroll and preparation of social charges for staff each month.
• Maintain current and accurate bank balances.
• Reconcile all project bank and cash accounts at the end of every month.
• Prepare monthly financial field reports.
• Maintain a system for documents and records management, including electronic and physical filing of all financial documentation.
• Preparation of VAT refund forms (DA1), maintaining a tracker for the DA1 applied for, approved and collection of refunds from vendors.
• Maintain a budget tracker of donor funds by accounting line, office and CLIN.
• Prepare Work Order budgets.

Qualifications:

• Degree in Accounting, Commerce or Finance, CPA or ACCA at least level 2.
• Minimum of 5 years accounting work experience.
• Minimum of 3 years work experience with USAID Implementing Partners in an accounting position.
• Advance QuickBooks and excel skills.
• Good communications skills.

Location:

Nairobi, Kenya

How to apply

To lodge an application, please lodge CV via the following link: https://jobs.socha.net/finance-specialist-kenya/03/21/2023/

Applications close at 1700hrs Kenyan time on March 27, 2023, application review will be on a rolling basis.

Key Responsibilities:

Financial Management and Budget Monitoring

• Offer financial advice and facilitation of project team to undertake activities
• Ensure strict adherence to the approved budgets and the grant guideline by the donor
• Deepen the understanding about the donor’s regulation on financial management based on the advice by Japan Grant Supervisor
• Ensure vendors are paid within the stipulated time
• Ensure staff advances are properly managed
• Analyse grant financial performance and advice management
• Review grants procurement requests for budget availability and coding
• Ensure assets purchased through donor funds are properly utilized and safe guarded

Monitoring and Compliance

• Monitor Project expenses against the approved budget.
• Reconcile timesheets with payroll for the project staff under grants. 
• Ensure donor regulations are adhered to for the assigned projects. 
• Support and coordinate grants end closure processes

Financial Reporting:

• Preparation monthly site financial reports to the grant finance manager for consolidation
• Prepare management reports for decision making purposes
• Review receipts, vouchers and journal listings to ensure proper use of the fund
• Prepare and implement the Agreed Upon Procedure (AUP) in line with the Grant guideline and the donor’s regulations.
• Ensure monthly accrual of completed activities
• Support and participate in year- end processes

Risk Management

• Identify finance risks facing the grant and share with management
• Support with implementing mitigation measures for the identified risks.
• Support with internal and external audits done on the grant
• Provide relevant information for audit responses
• Follow up on implementation of audit recommendations
• Provide and maintain grants financial information for safe custody and access

Administration

• Ensure smooth and efficient running of the office facilities
• Attend program technical meetings and give feedback and updates on financial aspect of the assigned grants. 
• Ensure good storage of financial reports and records in line with the WVK and donor requirements
• Ensure all copies of final signed Grant agreements documents between donors and WVK is available on file

Other

• Perform any other duties as requested by the supervisor

KNOWLEDGE, SKILLS AND ABILITIES

• Bachelor of Commerce, Economics, Accounting or Finance or related field
• CPA Section 4
• Minimum 2 years of relevant experience
• Practical experience of using SUN system accounting Software is preferred
• Advanced excel and analytical skills
• Compatibility with WV's Mission, ethos, policies and core values.
• A team player.

Responsibilities

• Identify and assess organizational and capacity development needs of current and prospective IPs, analyze findings to understand root causes, and collaborate with partners to formulate action plans;
• Develop organizational capacity assessment tools;
• Develop curriculum, provide individual start-up foundational technical assistance services and coaching to USAID identified local partners, and manage technical assistance services via consultants and Kenyan firms with appropriate expertise on finances and managing funds, governance structures, organizational policy formulation, managing sub-awards, tracking and reporting on third party costs contributions, human resource systems and practices, information technology systems, enterprise resource planning and systems, procurement, systematic performance monitoring and reporting results, and public and private partnership networks;
• Support planning and execution of Non-U.S. Organization Pre-Award Surveys and implementing partner procedures/expenditure reviews;
• Provide capacity building support services to empower and enfranchise local actors and local organizations;
• Liaise with USAID support and technical offices in relation to work requests;
• Identify and scope opportunities to deliver capacity building services to local organizations;
• Monitor the progress of capacity building activities.

Qualifications

• At least 10-15 years of experience with capacity building, organization development and change management in fields such as risk management, finance, compliance, procurement, governance, HR, or other related fields;
• Preferred experience working for or collaborating with audit, accounting, consulting, or business services firms;
• Master’s degree in a strategy or related field;
• Excellent communication skills in both English and Kiswahili;
• Experience living and working in the East Africa region.

The Role Responsibilities

Strategy

• Grow Affluent Business with Life Insurance by 100% in 3 years.
• Increase SME participation with General Insurance by 100% in 3 years
• Increase number of New to Wealth clients by 12,000 in 3 years

Business

• Ex-Officio Director & Principal of Standard Chartered Bancassurance Intermediary Limited
• Present a management report to the SCBIL board on a quarterly basis
• Develop and launch Life and General Insurance products in line with the strategic objectives of the business and client need.
• Provide leadership and management support to staff within the Bancassurance business
• Drive and regularly report on overall Bancassurance financial performance for Country, Regional and Group leadership and stakeholders
• Develop digital capabilities and achieve digital sales targets
• Retain and service existing Bancassurance portfolio
• Onboard, monitor and manage Insurance Service Provider relationships

Processes

• Ensure a robust process flow for all Bancassurance products is in place
• Ensure that all process flows support agreed TAT
• Support Operations and Frontline teams to work within the approved process flow and product TAT
• Include Process training in annual Bancassurance certification
• Resolve customer complaints and improved overall customer experience for Banca products

People and Talent

• Support direct reportees in product development, sales management, stakeholder management and proposition responsibilities
• Identify and create a development plan for successor of Head Bancassurance, Kenya and East Africa
• Identify and create a development plan for successor for Product manager, Uganda, Tanzania Banca Heads and Sales manager roles
• Facilitate learning, growth and development opportunities of Bancassurance team

Risk Management

• Monitor and manage overall Bancassurance business risk according to local regulations and internal policies
• Ensure active monitoring and maintenance of risk management policies and controls / standards

Governance

• Monitor and Manage Business conduct of Bancassurance team
• Ensure all insurance-related staff and activities are compliant with local and Group policies / standards / controls
• Ensure that the country is compliant with local insurance regulations and guidelines

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group's Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Lead the Kenya Bancassurance team to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Adhere to Central Bank of Kenya and Kenya Insurance Regulatory Authority Bancassurance reporting, business operating and business conduct guidelines.
• Serve as a Director of the Board of Standard Chartered Bancassurance Intermediary Ltd.
• Exercise authorities delegated by the Board of Directors and act in accordance with Articles of Association

Our Ideal Candidate

• Certificate of Proficiency in Insurance awarded by the Kenya College of Insurance
• Bachelor's degree in Finance or Insurance related discipline
• Minimum 5 years' experience in insurance business or banking
• Membership with Bancassurance Association of Kenya

Job Purpose

To independently support the origination, structuring and execution of assigned CFS debt solutions, across the deal lifecycle to support the achievement of team/portfolio financial KPI's and enable the delivery of exceptional client experience.

Key Deliverables 

People

• Provide on the job guidance to new team members, analysts, graduates and interns to enhance their understanding of applicable processes and standards and to enable improved performance. Review the quality of work and provide feedback to promote personal and professional development.
• Contribute towards realizing the IB and CIB desired culture by modelling and displaying appropriate behaviors, collaborating across the business and promoting team work.

Data

• Coordinate and collate information for the purpose of tracking metrics (e.g. price benchmarking, liquidity, market and client trends) to support the deal pipeline and grow the IB business. Develop and maintain an up to date file of terms of deals to use as a reference resource.

Financial Management

• Measure, monitor and report on origination and financial performance of assigned  deals to support effective financial control. Contribute to regular (i.e. weekly / monthly) as well as ad-hoc reporting, to enable decision making and prioritization.

Product

• Coordinate internal stakeholders and processes, conduct due diligence, prepare and provide comments on documents to drive the approval process and where required present at risk and business forum for selected deals
• Review legal documents to ensure compliance with credit sanctions, develop distribution material and oversee the CP process and deal closing memo. Coordinate internal and external stakeholders, act as the day-to-day interface with clients to manage timelines ensuring successful deal execution
• Post disbursement work closely with Coverage, Transaction Management Unit (TMU), Credit and other relevant business teams to track and monitor allocated deals to provide support and insight in managing exposure while ensuring ongoing governance and business performance during the life cycle of the deal.
• Prepare all relevant information required for deal negotiations and participate in aspects of deal negotiations to agree the key terms of the transaction in line with the need of client and CIB requirements.
• Interpret and understand financial information, prepare financial models (e.g. Debt capacity models) and assess financial outputs to effectively build and formulate appropriate lending solution, term sheets and other supporting client documentation.

Client

• Maintain and grow a network of internal stakeholders (corresponding level)  across wholesale clients to  facilitate and drive the transaction process
• Develop and maintain a network of external stakeholders to stay abreast of market trends that contribute towards the generation of insights and ideas for new product/solutions that contribute towards enhanced brand reputation and market opportunities
• Stay abreast of developments and trends in the market, industry, regulatory and client base by conducting research and developing and / or reviewing insights to support and drive existing deals, new opportunities and market developments.
• Participate in client engagements as part of the deal team and when required confidently present aspects of the proposal and pitchbooks to meet client engagements.
• Develop  ideas and recommendations to support and drive the content development of proposals, pitch books and other content ensuring it is readily available and delivered in a timely and quality manner that can be used in client engagements.

Risk, Regulatory, Prudential & Compliance

• Adhere to applicable internal and external policies, systems, processes and procedures to ensure compliance with all relevant CIB risk, regulatory and business control requirements. Guide team members to enhance their understanding and application of standards, procedures and products.
• Utilise understanding of pricing model, FTP, Capital regulations and risk frameworks to support the deal process and generate relevant insights
• Complete pipeline information on Salesforce Dot Com (SFDC) timeously and accurately to maintain pipeline relevance.

QUALIFICATIONS

Minimum Qualifications

• Type of Qualification: First Degree
• Field of Study: Business Commerce

Experience Required

• Lending - Corporate Financing Solutions and Leveraged Finance
• Investment Banking

3-4 years

• Understanding and knowledge of local and global Lending products / solutions to effectively develop and present innovative client solutions. Effectively coordinating and interacting with professionals, clients and key stakeholders in other lines of business in the delivery of all Debt Solutions. Building complex financial models, conducting research and analyzing large amounts of data and information to develop and present reports to key stakeholders

5-7 years

• Working independently and managing concurrent work processes and driving delivery on multiple deals / projects with minimal supervision. Understanding of the Lending deal process and life-cycle, with experience in executing deals from cradle to grave. Banking experience and private equity, fund management, equity analyst, consulting, relationship management (Coverage), business development

5-7 years

• Working with and interpreting relevant regulatory frameworks. Credit Risk or related field experience.

Behavioral Competencies:

• Articulating Information
• Checking Details
• Developing Expertise
• Embracing Change
• Examining Information
• Interacting with People
• Interpreting Data
• Inviting Feedback
• Producing Output
• Taking Action
• Team Working
• Upholding Standards

Technical Competencies:

• Deal Appraisal
• Deal Negotiation
• Economic Research
• Financial Analysis
• Local Market Knowledge
• Strategic Planning and Reporting

Overall purpose of the role

The Finance Coordinator is a key member of the Support Services Unit and will contribute to ensure overall planning, implementing, and managing of the projects, and assure progress towards achieving project goals and objectives. Based in Nairobi, with travel to field locations in the region, the Finance Coordinator supports regional programmes with financial duties that include the review of budget/budget revisions, transactional compliance monitoring and reporting. The Finance Coordinator acts as the “Technical Focal Point” to country and field operations across the East Africa and Great Lakes DRC locations.

Responsibilities

The Finance Coordinator refers to and works in close collaboration with the finance and senior project staff of each country within the region. Specific responsibilities include:

• Define and analyse the project budget to ensure that funds are used according to internal and external regulations, proposing corrective actions if needed.
• Preparing budget re-alignments where needed in collaboration with Country Office finance teams.
• Oversight of financial and administrative management of portfolio projects, ensuring compliance with DRC and donor rules and regulations
• Organising and leading monthly budget vs actual reviews meeting & monitor burn rates and advise programme teams accordingly.
• Ensuring the timely and quality completion of all financial deliverables, including reports in accordance with donor guidelines
• Providing additional technical assistance to implementing partners as necessary to maintain standards comparable to DRC operations.
• Developing a strong working relationship with the finance focal point of each country and each field team.
• To oversee the process related to the completeness, accuracy and validity of information regarding payment documents before payments are effected.
• Ensure financial statutory compliance is achieved where required across the country operations, including taxation and government reporting requirements.
• Providing financial management support for regional project close-out process and external audit activity.
• To provide capacity building of both finance and non-finance programme staff
• Serve as a superuser for the ERP Systems and ensure its correct use for financial and accounting matters.

About you

In this position, you are expected to demonstrate DRC’s five core competencies:

• Striving for excellence: You focus on reaching results while ensuring an efficient process.
• Collaborating: You involve relevant parties and encourage feedback.
• Taking the lead: You take ownership and initiative while aiming for innovation.
• Communicating: You listen and speak effectively and honestly.
• Demonstrating integrity: You act in line with our vision and values.

Experience and technical competencies:

• University degree in Financial Management, Accounting, or any other relevant field.
• Professional finance or accounting qualification
• At least five year’s work experience in field of finance/accounting/bookkeeping in large international NGOs
• Experience managing complex projects involving coordination with multiple project stakeholders.
• Proven experience in NGO programme budget management, including reporting and compliance related to large institutional donor organisations (EU, ECHO, USAID, FCDO, etc.)
• Advanced experience/skills in MS Excel and Power BI.
• Experience in using ERP systems.
• Excellent communication, analytical and negotiation skills
• Proven ability to prioritize tasks, meet deadlines and work with limited supervision.
• Demonstrated ability to establish effective working relations between programs & support.
• Proven commitment to accountable practices
• Knowledge of working in challenging environments
• High integrity, pro-active, stable, robust character and a good team-player
• Ability to travel regularly within the region – including in conflict affected areas.
• Proficiency in English is a strong preference, while other regional languages are beneficial.

Qualifications, Skills and Experience Required:

• Diploma in Business management, Business administration or cooperative management
• Have attained a Minimum of C plain at KCSE
• Be at least 23 years and above .

Duties and Responsibilitie:

• Outreach and promotion
• Customer Service
• Loaning process
• Other duties as assigned.

Qualifications, Skills and Experience Required:

1. Diploma in Business management, Business administration or cooperative management
2. Have attained a Minimum of C plain at KCSE
3. Be at least 23 years and above .

Duties and Responsibilitie:

1. Outreach and promotion
2. Customer Service
3. Loaning process
4. Other duties as assigned.

Qualifications, Skills and Experience Required:

1. Diploma in Business management, Business administration or cooperative management
2. Have attained a Minimum of C plain at KCSE
3. Be at least 23 years and above .

NB: Loan officer Internship opportunities are available in our various field offices and (NOT in Head office ). Indicate the preferred area when sending your application.

We have offices in:- Voi, Marimanti, Embu, Nairobi, Nakuru, Maua, Nanyuki, Machakos, Nyahururu, kitengela, makueni, Tala, Kitui, Kibwezi, Mwingi,  Nkubu, Kerugoya, Kiritiri, Nyeri, Mwea, Thika, Matuu,  Kiambu, Meru, Chuka,  EMALI, Laare, Kasarani, Loitoktok, Limuru, Siakago, Rongai, Utawala,,Runyenjes, Karatina, Taveta and Zombe

Duties and Responsibilitie:

1. Outreach and promotion
2. Customer Service
3. Loaning process
4. Other duties as assigned.

Qualifications, Skills and Experience Required:

1. Diploma in Business management, Business administration or cooperative management
2. Have attained a Minimum of C plain at KCSE
3. Be at least 23 years and above .

NB: Loan officer Internship opportunities are available in our various field offices and (NOT in Head office ). Indicate the preferred area when sending your application.

We have offices in:- Voi, Marimanti, Embu, Nairobi, Nakuru, Maua, Nanyuki, Machakos, Nyahururu, kitengela, makueni, Tala, Kitui, Kibwezi, Mwingi,  Nkubu, Kerugoya, Kiritiri, Nyeri, Mwea, Thika, Matuu,  Kiambu, Meru, Chuka,  EMALI, Laare, Kasarani, Loitoktok, Limuru, Siakago, Rongai, Utawala,,Runyenjes, Karatina, Taveta and Zombe

Duties and Responsibilitie:

1. Outreach and promotion
2. Customer Service
3. Loaning process
4. Other duties as assigned.

Qualifications, Skills and Experience Required:

1. Diploma in Business management, Business administration or cooperative management
2. Have attained a Minimum of C plain at KCSE
3. Be at least 23 years and above .

Duties and Responsibilitie:

1. Outreach and promotion
2. Customer Service
3. Loaning process
4. Other duties as assigned.

Qualifications, Skills and Experience Required:

1. Diploma in Business management, Business administration or cooperative management
2. Have attained a Minimum of C plain at KCSE
3. Be at least 23 years and above .

NB: Loan officer Internship opportunities are available in our various field offices and (NOT in Head office ). Indicate the preferred area when sending your application.

Duties and Responsibilitie:

1. Outreach and promotion
2. Customer Service
3. Loaning process
4. Other duties as assigned.

Qualifications, Skills and Experience Required:

• Diploma in Business related course
• Be at least 23 years and above .
• Must have a minimum of CPA part 2
• Have a minimum of grade C plain at KCSE
• Computer literate
• Good with numbers and figures
• Duties and Responsibilitie:
• Duties will be assigned by the immediate supervisor