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Company: Malawi Union of Savings and Credit Co-operatives (“MUSCCO”)
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Overview
The Malawi Union of Savings and Credit Co-operatives (“MUSCCO”) is a national democratically controlled apex body of Savings and Credit Co-operatives (“SACCOs’) established on 15th September, 1980. The mission is to promote the sustainable growth and development of financial Cooperatives and their members through cost-effective inclusive programming. MUSCCO is a member of the World Council of Credit Unions and a continental body, known as African Confederation of Cooperative Savings and Credit Association (ACCOSCA).
Aligning with its 2024-28 Strategic Plan, the Union has been mandated to operate through three independent companies namely: The MUSCCOCorporate (responsible for advocacy, promotion and co-ordination of the SACCOs in Malawi) The Cooperatives Development Institute -CDI (focusing on Technical Support and Capacity Building for SACCOs, Research and Development and, The Central Finance Facility- CFF, a regulated and licenced financial intermediary for SACCOs. This has necessitated creation of vacancies to be filled within first quarter of year 2025.
The Union invites applications from suitably qualified persons to fill the vacant position of Finance Manager, in its establishment.
1) FINANCE MANAGER
Position: CFF Finance Manager -FM
Location: MUSCCO CFF Head Office, Lilongwe
Reports to: Head of Finance, HR and Administration
Provides supervision to: Finance Officers, Assistant Finance Officers), Finance and Administration Assistants
Effective Date: 1st March, 2025
General
The CFF FM will support the CFF business Unit Manager and MUSCCO Corporate Head of Finance in overseeing the CFF and CDI finance management and implementation of risk management, financial accountability, and ensuring compliance with regulatory standards in addition to MUSCO’s policies and procedures. S/he will be responsible to provide the finance unit with technical leadership to ensure high quality financial and accounting management is achieved. He/she technically reports to the MUSCCO Head of Finance, HR and Administration (HFHA).
Duties and responsibilities: The CFF FM will be responsible for:
Financial Management
- Prepare monthly management accounts for Central Finance Facility and monthly regulatory reports to Reserve Bank of Malawi.
- Preparation and consolidation of Management Accounts and yearly Financial Statements for the three entities/ units under MUSCCO
- Monthly follow-up on all budgets, analyse the information (deviations and re-allocations) and report this analysis to the concerned unit and the HFHA.
- Review performance of individual financial products, service charges and make proposals to management regarding pricing and providing financial analysis and recommendations for trading options and strategies
that include conducting reviews and evaluations for cost reduction opportunities; - Manage debtors and creditors to ensure optimum working capital and develop financial management mechanisms that minimize financial risk.
- Maintain stock ledgers and oversee stock management and reporting systems
- Manage financial systems, general ledger reconciliations, providing recommendations and monitoring of SACCO member accounts, employee loans and advances; field travel and procurement liquidations
- Ensure that monthly payroll is administered in Sage
VIP and ensure compliance to statutory requirements and that remittances are timely remitted to relevant authorities; - Ensure that all record keeping and reports are reviewed before external audit is done and findings reported to relevant officers.
- Oversee tax planning, tax compliance and ensure financial statements comply with International Financial Reporting Standards
- Develop and continuously improve systems for internal financial controll
- Manage fixed Asset register and conduct inventory listing checks every month;
- Supervise and reconcile output from the Bankers Realm system to the Sage Evolution ERP Accounting Systems;
- Any other duties as assigned by management from time to time
Treasury and Bank Management
- Prepare monthly cash flow and monitor on weekly basis against actual with related reports distributed to management;
- Ascertain investments needs, operational and capital financing; prepare application / renewal documentation and negotiate facilities; provide financial reports to maintain facilities as required by banks and other financial dealers
- Ensuring that there is always an updated file of bank signatories with the related correspondence with the banks in addition to timely bank reconciliations preparation.
Training and Capacity Building
- Orient and manage team members under his/her direct responsibility and organize regular team/staff meetings;
- Identify training and capacity needs of Finance Staff and organize capacity-building plans for the identified gaps
- Assigns work, set performance targets and conduct appraisals for staff under control.
Qualifications, Skills and Abilities
- Qualified Accountant with a sound academic qualification with 5 years post qualification experience in similar position and should be a member of ICAM.
- Familiarity with the regulations which govern financial institutions in Malawi
- Have experience in Sage Pastel Accounting System and any Core Banking System
- Ability to work with minimum supervision and maintain utmost confidentiality and manage multifunctional tasks.
2) BUSINESS DEVELOPMENT MANAGER (CDI)
Position: Business Development Manager (SACCOs)
Location: CDI Head Office, MUSCCO House, Lilongwe
Reports to: Cooperatives Development Institute Manager
Provides supervision to: Business Development Coordinators
Effective Date: 1st March, 2025
General
The Business Development and Training Manager is responsible for developing and implementing strategies to enhance the business performance of member SACCOs. This includes providing comprehensive training and technical assistance, identifying and pursuing new business opportunities, fostering a strong network of partnerships.
The position will undertake the following tasks:
Business Development
- Develop and implement strategic plans for business growth and expansion of member SACCOs.
- Identify and pursue new business opportunities, including new product and service offerings, market penetration strategies, and diversification initiatives.
Conduct market research and competitor analysis to identify emerging trends and opportunities. - Develop and maintain strong relationships with key stakeholders, including regulators, government agencies, and other financial institutions.
- Assist member SACCOs in developing and implementing business plans, marketing strategies, and financial projections
Operational Efficiency & Sustainability:
- Assist member SACCOs in improving their operational efficiency and reducing costs.
- Identify and mitigate operational and financial risks faced by member SACCOs.
- Promote and advocate for best practices in SACCO management and operations.
- Develop and implement strategies to enhance the long-term sustainability of member SACCOs.
Networking & Partnerships:
- Build and maintain strong relationships with other financial institutions, NGOs, and government agencies to leverage partnerships and resources for the benefit of member SACCOs.
- Represent the Union at industry events, conferences, and workshops.
- Foster a collaborative environment among member SACCOs.
Training & Capacity Building:
- Design and deliver comprehensive training programs on various aspects of financial management, including:
- Loan appraisal and risk management
- Customer service and relationship management
- Financial accounting and reporting
- Marketing and sales techniques
- Governance and compliance
- Digital financial services
- Develop and maintain a comprehensive training curriculum and resource library.
- Conduct regular assessments of training needs and evaluate the effectiveness of training programs.
- Provide ongoing technical assistance and coaching to member SACCOs.
Qualifications & Experience:
- Bachelor’s Degree in Business Administration, Finance, Economics, or a related field. Master’s degree in a relevant field is preferred.
- At least 5 years of experience in the financial sector, with a strong preference for experience in microfinance, cooperative banking, or development finance.
- Proven experience in designing and delivering training programs.
- Strong analytical and problem-solving skills.
- Excellent communication, interpersonal, and presentation skills.
- Proficiency in Microsoft Office Suite and other relevant software.
3) BUSINESS DEVELOPMENT COORDINATORS (2)
Position: Business Development Coordinators (SACCOs)
Location: Blantyre and Mzuzu
Reports to: Business Development Manager
Provides supervision to: Regional Office staff
Effective Date: 1st March, 2025
General
The Business Development and Training Coordinator is responsible for developing and implementing strategies to enhance the business performance of member SACCOs within a specific region. This includes providing comprehensive training and technical assistance, identifying and pursuing new business opportunities, and fostering a strong network of partnerships within the region.
The position will undertake the following tasks:
Business Development
- Conduct market research and competitor analysis within the region to identify emerging trends and opportunities.
- Identify and pursue new business opportunities for member SACCOs within the region, including new product and service offerings, market penetration strategies, and diversification initiatives.
- Assist member SACCOs in developing and implementing business plans, marketing strategies, and financial projections tailored to the specific needs of the region.
- Build and maintain strong relationships with key stakeholders within the region, including regulators, government agencies, and other financial institutions.
Training & Capacity Building
- Design and deliver comprehensive training programs on various aspects of financial management, including:
- Loan appraisal and risk management
- Customer service and relationship management
- Financial accounting and reporting
- Marketing and sales techniques
- Governance and compliance
- Digital financial services
- Conduct regular assessments of training needs and evaluate the effectiveness of training programs within the region.
- Provide ongoing technical assistance and coaching to member SACCOs within the region.
Operational Efficiency & Sustainability:
- Assist member SACCOs within the region in improving their operational efficiency and reducing costs.
Identify and mitigate operational and financial risks faced by member SACCOs within the region. - Promote and advocate for best practices in SACCO management and operations within the region.
Networking & Partnerships:
- Build and maintain strong relationships with other financial institutions, NGOs, and government agencies within the region to leverage partnerships and resources for the benefit of member SACCOs.
- Represent the Union at regional events, conferences, and workshops.
- Foster a collaborative environment among member SACCOs within the region.
Qualifications & Experience:
- Bachelor’s Degree in Business Administration, Finance, Economics, or a related field.
- At least 3 years of experience in the financial sector, with a strong preference for experience in microfinance, cooperative banking, or development finance.
- Proven experience in designing and delivering training programs.
- Strong analytical and problem-solving skills.
- Excellent communication, interpersonal, and presentation skills.
- Proficiency in Microsoft Office Suite and other relevant software.
4) INFORMATION COMMUNICATION & TECHNOLOGY COORDINATOR
Position: ICT Coordinator
Location: MUSCCO Head Office, MUSCCO House, Lilongwe
Reports to: ICT Manager
Provides supervision to: NA
Effective Date: 1st March, 2025
General
The ICT Coordinator Supports information communication technology (ICT) systems and users, install computer systems and software, and maintains computer networks and connectivity.
Assist in driving business innovation and efficiency in the Union for seamless processes, services and product development.
Duties and Responsibilities
- Provides ICT support, training, and orientation for new technology users
- Offers troubleshooting, support, and repair when ICT equipment or networks malfunction
- Provides phone, live chat, or in-person support, depending on the organization’s scope
- Asks directed questions regarding equipment and networks to assess ICT issues
- Follows scripts to provide effective and well-tested support
- Walks clients through solutions to solve problems and directs questions to supervisors or specialists when necessary
- Demonstrates great customer service skills, listens carefully, and exercises patience
- Maintains records of hardware and software inventory
- Assists with maintaining information security through controlled hardware or software installation and staff education
- Works with a team of installation, network, security, website updating and support specialists
- Follows emergency plans for equipment, power, or security failures when necessary and protects data and security
- Advances knowledge of current technology and assists in development of innovative business solutions
Qualifications & Experience:
- Bachelor’s Degree in computer science, information technology, systems technology, etc. and at least three years of relevant experience or Diploma in related field with 5 years of relevant experience;
- Demonstrated familiarity with software and hardware needed to support financial services institutions;
- Proven experience with set up and operation of successful financial services systems;
- Proven experience with set up and operation of database applications.
5) COMMUNITY OUTREACH AND MOBILIZATION OFFICERS (3)
Position: Com. Outreach & Mobilisation Officer
Location: MUSCCO Head Office, MUSCCO House, Lilongwe
Reports to: Project Manager
Provides supervision to: NA
Effective Date: 1st March, 2025
General
To be based in the project districts, the officers will be pivotal in strengthening, mobilizing and/ or introducing VSLAs as a means to financial services provision to existing and new community based organizations. MUSCCO is looking for field officers who understand community outreach approaches and rural development.
Key responsibilities of the post are:
- Promoting the Village savings and Loans Association (VSLA) model
- Making competent assessment of VSLAs linkage to SACCO graduation
- Training community facilitators and group leaders in VSLA methodology and SACCO
- Conducting community sensitization meetings to promote VSLAs and SACCO
- Timely preparation and submission of monthly progress reports
- Providing necessary in put in financial literacy study circle materials
- Working closely with district community development officers during community sensitization and monitoring
QUALIFICATIONS AND OTHER ATTRIBUTES
- Degree in Community Mobilization.
- A background in finance or accounting will be an added advantage.
- At least two years experience in a similar position.
- Proven working knowledge of computer packages such as MS word, excel, and PowerPoint
- Possession of motorbike license
Remuneration:
The successful candidates shall be offered a negotiated performance related contracts for one year (with an opportunity for two additional years) The Union will offer an attractive salary, benefits and gratuity package commensurate with the seniority of the position.
How to apply:
Candidates meeting the above qualifications and experience should include the following in their application: detailed Curriculum Vitae with names of three traceable referees, a covering letter and copies of certificates to the address below:
The Chief Executive Officer,
MUSCCO Limited,
MUSCCO House,
P.O. Box 651,
LILONGWE
And,
send your application to hr@muscco.org not later than 16.00 pm on Friday, 7th February 2025. Only shortlisted candidates will be acknowledged
MUSCO is an equal opportunity employer committed to inclusive hiring and dedicated to diversity in its work and staff.
Only short-listed applicants will be acknowledged.