Senior Accountant KRCS Training Institute at Kenya Red Cross Society

JOB SUMMARY:

• The Senior Accountant will be responsible for developing/generating  financial reports related to budgets, account payables, account receivables, expenses  and to ensure effective and efficient utilization of resources in line with the institutions financial management policies and procedures. 
• He/She will propose and develop long-term business plans based on these reports, and review, monitor, manage budgets and propose strategies that work to minimize financial risk.

SCOPE OF THE ROLE:

• Development of the organizational Budget
• Budget Review and Appraisal
• Business Development analysis
• Management of clients and Students accounts
• Management Accounts reports
• Market development research and advisory

SUPERVISORY RESPONSIBILITIES:

• Finance Officer
• Assistant Accountants

Budget Management:

• Develop and manage the annual budget in collaboration with relevant HOD in the institute.
• Monitor budget performance and provide monthly reports to the Director KRCTI.

Financial Reporting:

• Review of cash and bank reconciliations and ensuring they are done within set deadlines.
• Maintain and update fixed assets register and reconciling it to the General ledger monthly and ensure capital equipment is tagged upon receipt.
• Prepare on a timely manner an accurate monthly Depreciation Schedule.
• Prepare and capture part time lecturers payroll journals in the transaction system accurately and timely in the appropriate accounting periods
• Maintain an orderly and clean chart of accounts.
• Prepare accurate and timely financial reports for internal and external stakeholders.
• Ensure compliance with accounting principles, regulatory requirements, and college policies.
• Present financial information to the Director- KRCTI and Head of Finance.

Cash Flow Management:

• Monitor cash flow and liquidity to support day-to-day operations.
• Coordinate with relevant KRCTI HODS to forecast cash needs and optimize cash management strategies.

Financial Analysis:

• Conduct financial analysis to support decision-making processes.
• Evaluate the financial performance of various institute programs and initiatives.
• Provide insights and recommendations based on financial data.

Income/Grants/Funding:

• Ensure accurate and timely invoicing
• Prompt debts collection as per the policy
• Fee Structure and policy set up for all programs and inputting fees structure in the system every trimester accurately and timely
• Prepare provisions of bad and doubtful debts and write offs where applicable as per International Financial Reporting Standards and KRCTI policy.
• Reconcile the Student/client debtors in Microsoft Dynamics NAV system to ensure accuracy and completeness of data on monthly basis.
• Prepare aged debtors reports on a monthly basis.
• Sending reminders to students and parents with balances and follow up of the same.
• Keep an up-to-date students’ status record in relation to (continuing, graduated, academic leave, expelled etc) in liaison with the head of academics
• Identify and pursue opportunities for grants and funding to support KRCTI projects.
• Ensure compliance with the institute programming requirements and reporting obligations.

Payables Management:

• Verification of supplier payment vouchers to ensure they are complete, accurate, fully approved and posting them into the system
• Ensuring proper authorizations for payments is strictly followed and any expenditure incurred is supported by payment vouchers
• Review of creditors reconciliations ensuring they are done within set deadlines

Audit and Compliance:

• Facilitate external audits and ensure compliance with accounting standards.
• Implement and maintain internal controls to safeguard KRCTI assets.
• Address audit findings and implement corrective actions as necessary.

Financial Policies and Procedures:

• Develop and update financial policies and procedures to ensure adherence to best practices.
• Educate and train staff on financial policies and procedures.

Collaboration:

• Collaborate with other departments to gather financial information and support their financial needs.
• Provide financial guidance and support to department heads.

EDUCATION AND EXPERIENCE:

• Bachelor’s Degree in Accounting and Finance plus CPA (K) or equivalent qualifications
• Over Four (4) years’ experience in financial accounting in a learning institution/ a business environment

Key Competencies

• Considerable knowledge of financial accounting systems
• Ability to perform professional accounting work in accordance with the international “Generally Accepted Accounting and Auditing Principles” (GAAP), procedures and controls
• Effective communication skills ability to present ideas clearly, both orally and in writing and to prepare comprehensive reports
• Ability to identify and resolve problems in a timely manner, gather and analyze information skillfully, develop alternative solutions, work well in group problem solving situations and use reason even when dealing with emotional topics
• Considerable knowledge of computerized information and financial management systems, proficiency in database systems, spreadsheet and flow chart applications, computerized accounting systems
• Demonstrate ability to meet deadlines, analyze financial and operational data and information, think analytically and critically
• Ability to maintains high level of confidentiality, remain open to new ideas and experiment with improved systems and proven methods
• Ability and willingness to make consultative decisions, exhibit sound and accurate judgment, support and explain reasoning for decisions, include appropriate people in decision-making process and makes timely decisions