Accounts Officer job at UMA SACCO Ltd

1. Job Title: Accounts Officer

2. Reporting Line

Reports to: SACCO Accountant

Department: Finance

3. Job Purpose

To ensure the accurate, timely and complete processing, recording and reconciliation of UMA SACCO financial transactions and member accounts; support payroll, statutory compliance, financial reporting, audit readiness and internal controls; and provide reliable financial information that enables sound financial management and protects the SACCO’s funds, records and member balances.

4. Key Responsibilities

4.1 Financial Transactions & General Ledger Management

• Process member deposits, withdrawals, loan disbursements, loan repayments, supplier payments, receipts and other approved financial transactions accurately and on time.
• Record all transactions in the SACCO accounting system and ensure that postings are complete, accurate and supported by approved source documents.
• Prepare and post journal entries, payment vouchers, receipt vouchers and other accounting entries in accordance with approved procedures and review requirements.
• Maintain accurate ledgers, cashbooks, journals and supporting schedules.
• Ensure all financial documents are properly authorized, filed, traceable and available for review or audit.
• Identify posting errors, unusual balances or unsupported transactions and escalate them promptly to the SACCO Accountant.

4.2 Account Reconciliations & Member Account Integrity

• Prepare monthly bank reconciliations and other assigned control-account reconciliations within agreed reporting timelines.
• Reconcile member savings, deposits, loan balances and other member-related accounts to the relevant general ledger control accounts.
• Investigate and resolve reconciling items, posting differences and member account discrepancies promptly, escalating unresolved items to the SACCO Accountant.
• Maintain a reconciliation schedule showing outstanding items, actions required, responsible persons and resolution status.
• Support the accurate preparation and issuance of member statements and respond to finance-related account queries.

5. Key Deliverables (KPIs)

• Accuracy and completeness of financial transaction postings and supporting documentation.
• Percentage of assigned bank, member and control-account reconciliations completed within agreed timelines.
• Number and value of unresolved reconciliation items beyond the agreed resolution period.
• Timeliness and accuracy of monthly payroll and statutory schedules/returns.
• Timeliness and accuracy of month-end schedules and financial reporting support.
• Accuracy of member savings, loan and repayment balances and turnaround time for resolving account discrepancies.
• Timeliness and accuracy of loan arrears/delinquency schedules provided to the Accountant and Credit team.
• Number of avoidable penalties, duplicate payments, unsupported transactions or cash/book variances attributable to processing errors.
• Completeness of audit documentation and timely closure of assigned audit or control actions.
• Accuracy and integrity of data maintained in the accounting and SACCO systems.
• Turnaround time for finance-related member and internal account queries.

6. Job Requirements

• Bachelor’s degree or Diploma in Accounting, Finance, Commerce, Business Administration with an accounting/finance specialization, or another relevant field.
• Professional accounting qualifications such as CPA (U), ACCA or equivalent.
• At least two (2) years of relevant experience in accounting, finance or financial operations; experience in a SACCO, microfinance institution, bank or other member-based financial institution will be an added advantage.
• Practical experience in transaction processing, general ledger posting, bank reconciliation, payroll and preparation of accounting schedules.
• Working knowledge of PAYE, NSSF and other relevant statutory obligations, together with a sound understanding of financial controls and audit requirements.
• Understanding of SACCO savings, loan and member-account transactions and basic cooperative/financial-services operations.
• Proficiency in Microsoft Excel and accounting software such as QuickBooks, Tally or SACCO-specific financial systems.
• Ability to interpret financial records, investigate variances and prepare accurate reconciliations and supporting schedules.

7. Job Specifications

• Financial accuracy and attention to detail
• Reconciliation, analytical and problem-solving ability
• Internal-control discipline, integrity and confidentiality
• Deadline discipline and accountability
• Financial systems proficiency
• Member service and communication
• Teamwork and collaboration

• Process member deposits, withdrawals, loan disbursements, loan repayments, supplier payments, receipts and other approved financial transactions accurately and on time.
• Record all transactions in the SACCO accounting system and ensure that postings are complete, accurate and supported by approved source documents.
• Prepare and post journal entries, payment vouchers, receipt vouchers and other accounting entries in accordance with approved procedures and review requirements.
• Maintain accurate ledgers, cashbooks, journals and supporting schedules.
• Ensure all financial documents are properly authorized, filed, traceable and available for review or audit.
• Identify posting errors, unusual balances or unsupported transactions and escalate them promptly to the SACCO Accountant.
• Prepare monthly bank reconciliations and other assigned control-account reconciliations within agreed reporting timelines.
• Reconcile member savings, deposits, loan balances and other member-related accounts to the relevant general ledger control accounts.
• Investigate and resolve reconciling items, posting differences and member account discrepancies promptly, escalating unresolved items to the SACCO Accountant.
• Maintain a reconciliation schedule showing outstanding items, actions required, responsible persons and resolution status.
• Support the accurate preparation and issuance of member statements and respond to finance-related account queries.

• Financial accuracy and attention to detail
• Reconciliation, analytical and problem-solving ability
• Internal-control discipline, integrity and confidentiality
• Deadline discipline and accountability
• Financial systems proficiency
• Member service and communication
• Teamwork and collaboration
• Proficiency in Microsoft Excel and accounting software such as QuickBooks, Tally or SACCO-specific financial systems.
• Ability to interpret financial records, investigate variances and prepare accurate reconciliations and supporting schedules.

• Bachelor’s degree or Diploma in Accounting, Finance, Commerce, Business Administration with an accounting/finance specialization, or another relevant field.
• Professional accounting qualifications such as CPA (U), ACCA or equivalent.
• Practical experience in transaction processing, general ledger posting, bank reconciliation, payroll and preparation of accounting schedules.
• Working knowledge of PAYE, NSSF and other relevant statutory obligations, together with a sound understanding of financial controls and audit requirements.
• Understanding of SACCO savings, loan and member-account transactions and basic cooperative/financial-services operations.