Sacco Fosa Manager at Co-operative Bank of Kenya

Reporting to: The CEO

Job Purpose:

Responsible for all aspects of FOSA business management and activities. Steer FOSA business growth and manage FOSA operations to ensure customer satisfaction while meeting regulatory compliance requirements.

Job Type: Contract – Three (3) years renewable based on performance

Main Duties and Responsibilities 

Managerial / supervisory/ operational responsibilities or roles:

• Ensuring efficient and effective management of the FOSA department, and supervision of staff.
• Lead in development and implementation of the FOSA management and marketing policies and plans to attract and retain members.
• Designing, implementing, and promoting FOSA related products and services.
• Ensuring compliance with the relevant statutory and regulatory requirements in execution of FOSA operations.
• Prepare periodic reports on FOSA progress and advice the management on FOSA future business growth strategy and sustainability.
• Daily monitoring and reconciliation of FOSA activities and transactions to ensure efficiency and effectiveness in service delivery and proper use of FOSA resources.
• Custodian of all FOSA records while ensuring its assets and funds are well utilized.
• Monitor FOSA operations in accordance with the Operations Manual and the relevant laws and regulations and take timely corrective action where deviations are noted
• Ensure that the FOSA observes liquidity and cash ratios, and that adequate level of cash is maintained as required.
• Preparing departmental budgets and ensuring adequate budgetary controls.
• Carry out regular member satisfaction survey to monitor member satisfaction and ensure all member suggestions, complaints, views, and compliments are appropriately addressed.
• Ensure staff under FOSA are well trained, motivated to deliver on the allocated targets in line with the annual FOSA projections and the strategic plan.
• Identify any irregularity including forgery, fraud, theft, cash difference, cash misappropriation and staff misbehavior in the FOSA and take appropriate action in line with the policies.
• Performance management for the FOSA section to ensure achievement of intended targets.
• Any other lawful duties that may be assigned from time to time.

Knowledge, Skills and Experience

Minimum level of academic qualification, skills and knowledge required to perform effectively in the role:

• A Bachelor’s degree in a business-related field.
• Knowledge of relevant ERP will be an added advantage.
• Successful candidates will be required to meet the requirements of Chapter 6 of the constitution of Kenya by obtaining the necessary documentation.

Minimum level of professional qualification required to perform effectively in the role:

• A professional accounting qualification CPA-K /ACCA/ACA/CFA and a member in good standing with ICPAK or relevant professional body.

Minimum months or years of experience required to have to be appointed to the position:

• Minimum 5 years relevant experience and in a in a similar position.

Skills & Competencies

Technical Skills:

• Good knowledge of the market and the Society’s products and services
• Managerial and leadership skills.
• Strong Analytical skills.
• Financial management
• Self-confidence and Motivated
• Strategy and business development.
• Excellent communication skills-strong written & oral skills
• Good people, interpersonal and networking skills.
• Conflict resolution and problem-solving skills
• Records Management

Behavioral Skills:

• Focuses on ways to improve existing processes, product and services.
• Acts to promote good working relationships or partnerships regardless of personal preferences.
• Looks for and develops solutions that have benefits for the customers; thinks beyond current processes to generate new and innovative solutions.
• Empowers the team to be effective and champions continuous improvement.
• Embraces, leads and embeds change.
• Motivates, coaches and develops others.