The Finance Associate will be responsible for managing and overseeing all financial aspects of the LEAP Programme. This role focuses on financial planning, reporting, compliance, and portfolio management to ensure accuracy, transparency, and efficiency in financial operations. The role requires strong financial expertise, analytical ability, and experience in lending operations.
Key Responsibilities
- Financial Management & Reporting
- Lead the preparation and maintenance of accurate financial records, ensuring compliance with accounting standards and internal policies.
- Supervise bookkeeping activities carried out by third-party service providers and ensure timely reconciliation of accounts.
- Prepare and present financial reports to the Board and investors, including:
- Quarterly financial statements
- Budget vs actual performance reports
- Cash flow projections
- Loan portfolio performance and risk reports
- Develop and update quarterly forecasts for disbursements and repayments.
- Monitor financial performance and recommend corrective actions to meet targets.
- Budgeting & Forecasting
- Lead the annual budgeting process and provide periodic variance analysis.
- Manage cash flow and liquidity planning to ensure operational sustainability.
- Support long-term financial planning for programme growth.
- Portfolio & Loan Management
- Oversee and report on loan portfolio performance, including repayment trends and arrears management.
- Collaborate with loan collection service providers to ensure accuracy in:
- Loan reconciliations
- Outstanding balances
- Repayment schedules
- Provide data-driven insights to improve collection efficiency and portfolio quality.
- Compliance & Audit
- Ensure timely compliance with statutory and regulatory requirements (e.g., KRA filings, audits).
- Serve as the main point of contact for auditors and regulatory bodies.
- Maintain proper documentation and internal controls to meet legal and governance standards.
- Systems & Process Improvement
- Enhance financial systems and processes to improve accuracy, efficiency, and transparency.
- Leverage tools like Xero Accounting Software and Excel for reporting automation and data analytics.
- Board Engagement & Governance
- Prepare financial reports, briefing notes, and data packs for Board and Funders meetings.
- Coordinate with the management team to ensure all financial information required for Board decision-making is accurate and timely.
- Support the Board in reviewing financial performance, compliance matters, and portfolio health.
Qualifications & Experience
- Minimum 5 years’ experience in finance, accounting, or lending operations (preferably in microfinance, consumer finance or SACCO).
- Professional accounting qualification (CPA, ACCA, or equivalent) strongly preferred.
- Proficient in Xero Accounting Software and advanced Excel skills.
- Proven experience in financial reporting, budgeting, and portfolio management.
- Bachelor’s degree in Finance, Accounting, Economics, or related field.