Sacco Chief Executive Officer at Co-operative Bank of Kenya

JOB PURPOSE                                                         

• Reporting to the Board of Directors, the purpose of the role of the CEO is to provide visionary leadership, operational oversight, and financial stewardship for the Sacco, ensuring sustainable growth, regulatory compliance, and enhanced member value. The CEO will drive innovation, digital transformation, and service excellence while safeguarding the Sacco’s financial health and reputation. Therefore, the job holder will be responsible for overseeing the day-to-day management of the Sacco’s operations to ensure enhanced profitability and sustainable returns on shareholders’ investment.

KEY TASKS AND RESPONSIBILITIES

Strategic Leadership & Governance

• The CEO is the Accounting Officer of the Sacco and hence the highest-ranking executive.
• Develop and execute the Sacco’s strategic plan in alignment with its vision, mission, and core objectives through developing and implementing a robust business development strategy and workplan to drive the Sacco agenda.
• Provide leadership in formulating and implementing policies to ensure sustainable growth through interpretation of the Strategic Pillars and cascading them to the divisional heads. Work closely with the Board of Directors, offering strategic guidance and policy recommendations.
• Foster a corporate culture that promotes high customer service standards, ethical practices and good corporate citizenship.
• Enhance a risk awareness culture at the Sacco and enforce compliance to internal monitoring and control procedures.
• Develop and nurture business relationships with the relevant stakeholders and institutions and leverage these to achieve organizational goals.
• Provide policy guidance, leadership and support to the employees especially by mentoring, and coaching General Managers and other direct reports.
• Continuously monitor and review the Sacco’s long-term strategy and recommend appropriate changes in line with the dynamic business environment within which the Sacco operates.
• In consultation with the board, formulate and implement growth strategies and interpret and oversee implementation of SACCO policies and Board decisions.

Financial Management & Sustainability

• Oversee financial planning, budgeting, and management to ensure financial stability and liquidity.
• Develop and implement strategic financial initiatives to enhance revenue generation and operational efficiency.
• Oversee that proper books of accounts, records and returns are kept and that regular financial, statistical and operational information is prepared and submitted to the Board of Directors and the relevant departments of co-operative movement.
• Oversee timely compliance with statutory requirements by Government agencies and regulators.
• Ensure optimal investment portfolio management and adherence to prudent financial practices.
• Monitor the Sacco’s risk exposure, loan portfolio performance, and asset quality.
• Advise the Board of Directors on all matters of the Society by keeping them well informed on key happenings in the Sacco.
• Drive cost optimization initiatives while maintaining high service standards.

Business Growth & Member Value

• Spearhead initiatives to expand the Sacco’s membership base and product offerings.
• Develop and implement innovative financial products and services tailored to members’ needs.
• Ensure excellent customer experience and service delivery through digital transformation and operational efficiency.
• Strengthen member education and engagement programs to enhance financial literacy and loyalty.
• Drive marketing and public relations initiatives to enhance the Sacco’s brand visibility and reputation.

Human Capital Development & Leadership

• Build a high-performance culture by attracting, developing, and retaining top talent.
• Ensure the Society’s optimal performance by identifying and developing talent in the senior management team and create a conducive work environment for attracting, retaining and motivating employees.
• Encourage continuous staff creativity, innovations, accountability and teamwork to ensure that the Sacco processes procedures, products continue to be improved.
• Serve as a resource person of the organization by overseeing succession planning management, training, and capacity-building programs for Sacco employees.
• Conduct timely performance appraisal for the direct reports and ensure this is replicated throughout the organization through Performance Management Review systems.
• In liaison with the Finance and Administration Committee and the HRM ensure that the Sacco has optimal talent and recommend to the Board of Directors necessary staff appointments.

Operational Excellence & Process Optimization

• Oversee the efficiency of Sacco operations to improve productivity and service delivery.
• Drive cost reduction initiatives while ensuring high standards of efficiency and quality.
• Ensure continuous monitoring and evaluation of performance against key performance indicators (KPIs).

ICT & Digital Transformation

• Lead the Sacco’s digital transformation strategy, ensuring efficient and secure IT systems.
• Oversee implementation of core banking systems, mobile banking, digital lending, and fintech partnerships.
• Ensure cybersecurity, data protection, and business continuity planning are effectively implemented.
• Identify and integrate emerging technologies to improve service delivery and operational efficiency.
• Facilitate designing of secure ICT systems that meet dynamic business requirements from time to time.

Risk Management, Compliance & Internal Controls

• Develop and implement robust risk management frameworks to mitigate financial, operational, and reputational risks.
• Establish and maintain strong relationships with regulators, and other stakeholders by ensuring compliance with the laws and regulations in the industry.
• Strengthen internal audit functions and ensure timely implementation of audit recommendations.
• Safeguard institutional integrity by fostering a culture of compliance, accountability, and transparency.
• Oversee proper custodianship of SACCO records, property, assets and all accountable documents.
• Keep minutes of all general meetings and meetings of the Board of Directors.
• Facilitate timely submission of necessary reports to the Board, such as board papers by top management and financial reports.

JOB SPECIFICATIONS – ACADEMIC/PROFESSIONAL/EXPERIENCE

Education

• Bachelor’s Degree in Business Administration, Finance, Economics, Banking, Accounting, Strategic Management, or a related field.
• Master’s degree (e.g., MBA, MSc in Finance, Strategic Management, or Leadership) is an added advantage.
• Professional certifications such as CPA(K), ACCA, CFA, CISA, CSP (Certified Sacco Professional), or similar are Mandatory.
• Knowledge of computerized accounting systems
• Advanced excel skills will be an added
• Conversant with comparable business models.
• Possession of thorough knowledge and understanding of SACCO policies, principles and procedures.

Experience

• Fifteen (15) years of progressive experience in banking, microfinance, or the cooperative sector, with at least ten (10) years at an executive or senior leadership level.
• Proven experience in financial management, corporate strategy, and regulatory compliance will be a distinct advantage.
• Strong track record in business development, revenue generation, and member value enhancement.
• Extensive exposure to governance, risk management, and corporate leadership.

Key Skills and Competencies

• Strategic, analytical, critical thinker and visionary leadership
• Communication, report writing and negotiation skills.
• Strong financial acumen and investment management expertise
• Deep understanding of Sacco regulations, governance, and compliance
• Proven ability to drive business growth and profitability
• Expertise in digital transformation and ICT integration in financial services
• Collaborative team player with the ability to motivate, positively engage, and earn the trust of Sacco members, staff members, management and Board of Directors.
• Excellent stakeholder management and negotiation skills.
• Strong risk management and internal control capabilities.
• High-level decision-making and problem-solving skills.
• Ability to inspire, mentor, and develop high-performing teams.
• Excellent communication and public relations skills