Company: United Civil Servants SACCO
The United Civil Servants SACCO is member-owned institution dedicated to offering a diverse array of savings and credit products to civil servants, corporate organizations as well as SME’s in Malawi, our mission is to transform the socio-economic lives of all Malawians. With projected business growth for 2024 in alignment with our strategic plan spanning from 2022 to 2026, we are actively seeking individuals passionate about fostering positive change in their community and country. We invite applications from candidates driven to contribute to the socio-economic improvement of their society and nation through the United Civil Servants SACCO.
Post: Finance analyst
Reporting to: Finance manager
Employment Type: Fulltime
The successful candidate shall be Responsible for analyzing financial data, preparing reports, and providing insights to support strategic decision-making within an organization. Interpreting complex financial information, study market trends, assess performance against financial targets, and create financial models to forecast future trends. Additionally, financial analysts shall collaborate with various teams to provide recommendations for improving financial performance, reducing costs, and maximizing profitability.
Major duties and responsibilities:
1.Spearheading Savings Mobilization Initiatives:
- Initiate and oversee strategies aimed at increasing savings within the institution, fostering growth in member savings accounts.
- Oversee the movement of funds to and from member savings accounts, ensuring efficient management and security of funds
2.Evaluation and Recommendation of Product Pricing Models
Assess and propose effective pricing models for various financial products, optimizing profitability while remaining competitive in the market.
3.Management of Payroll and collections
- Monitor and manage the growth of payroll accounts, strategizing for sustainable expansion.
- Manage collections for various segments including Civil Servant payrolls, NonCivil Servant payrolls, and fines project members, ensuring timely and efficient collections processes
4.External Loans Facilities
- Establish and manage external loan facilities in accordance with executive approvals, optimizing the process for maximum benefit.
- Oversee the repayment process and documentation for external loans, ensuring compliance and efficient repayment schedules
- Strategize and implement methods to maximize returns on funds borrowed by the institution.
- Generate and present periodic reports on the status and performance of borrowed funds to key stakeholders.
5.Management of Investment Accounts:
Perform reconciliations of investment accounts, analyzing returns against market expectations to inform future investment decisions.
6. Departmental Activity Funding:
Decide on funding allocation for various departmental activities, ensuring optimal resource utilization.
7. Anticipating and Managing Branch Investment Demands:
Foresee and manage investment demands across branches, ensuring alignment with organizational goal
8.Nonmember Funds Administration:
Oversee the administration of funds from non-member sources, maintaining transparency and compliance.
9.Market Scan and Investment Negotiations
Conduct market scans and facilitate negotiations for investment deals, identifying opportunities for profitable investments.
10.Funding for Fixed Asset Procurement
Determine optimal strategies for funding the procurement of fixed assets, ensuring efficient allocation of financial resources.
11. Establishing Marketing Promotions: Identify and establish the necessity for marketing campaigns and promotions to drive business growth and attract new members.
Ensure General Ledger Reconciliation and reporting, including all bank accounts.
Qualification, Knowledge, Skills and Experience
- Bachelor’s degree in Finance, Economics, Business Administration, or a related field.
- Proven working experience as a Finance Analyst with minimum experience of 2 years
- Proficient in spreadsheets, databases, MS Office and financial software applications
- Hands on experience with statistical analysis and statistical packages
- Outstanding presentation, reporting and communication skills
- Proven knowledge of financial forecasting and diagnosis, corporate finance and information analysis
- Well informed in current financial subjects, accounting, tax laws, money market and business environments.
United civil servants Sacco is an equal opportunity employer.
Method of Application:
Interested candidates meeting the above requirements should send their application letters with a detailed curriculum vitae (CV) with at least three (3) traceable references plus copies of certificates including MSCE not later than 30 January 2024, to:
Only shortlisted applicants will be acknowledged.