The Senior Accountant will be responsible for preparing and analyzing financial reports related to budgets, accounts payable and receivable, and general expenditures. The role ensures optimal utilization of financial resources in alignment with KRCTI’s financial policies and procedures.
In addition, the position involves formulating long-term financial strategies, managing budgets, proposing risk mitigation plans, and providing business insights that support institutional sustainability.
Scope of the Role
- Development and appraisal of organizational budgets
- Financial analysis for business development
- Management of client and student accounts
- Preparation of management accounts
- Market research and advisory for institutional growth
Supervisory Responsibilities
- Finance Officer
- Assistant Accountants
Key Responsibilities
Budget Management
- Lead the development of annual budgets in collaboration with relevant Heads of Department (HODs).
- Monitor budget implementation and provide monthly performance reports to the Director – KRCTI.
Financial Reporting
- Review cash and bank reconciliations to ensure completion within specified timelines.
- Maintain and reconcile the fixed assets register with the general ledger on a monthly basis, tagging all capital equipment upon receipt.
- Prepare timely and accurate depreciation schedules and ensure payroll journal entries for part-time lecturers are captured correctly in the system.
- Maintain an organized and up-to-date chart of accounts.
- Generate accurate and timely financial reports for both internal and external use, ensuring compliance with accounting standards and institutional policies.
- Present financial reports to the Director and Head of Finance.
Cash Flow Management
- Monitor liquidity and cash flow to support operational efficiency.
- Collaborate with departments to forecast cash needs and implement cash management strategies.
Financial Analysis
- Conduct financial evaluations to inform decision-making.
- Analyze the performance of institutional programs and make recommendations based on financial data.
Income, Grants, and Funding Management
- Ensure accurate and timely billing of clients and prompt collection of outstanding amounts in line with institutional policy.
- Implement and maintain tuition fee structures within the system each trimester.
- Prepare provisions for bad and doubtful debts, and conduct write-offs in accordance with IFRS and institutional policy.
- Reconcile student and client accounts monthly using Microsoft Dynamics NAV.
- Generate monthly aged debtor reports and send reminders to students and parents with outstanding balances.
- Maintain up-to-date records of student status in collaboration with the Head of Academics.
- Identify and pursue grants and funding opportunities, ensuring compliance with funding requirements and reporting standards.
Payables Management
- Verify supplier invoices for accuracy and completeness before system entry.
- Ensure proper payment authorization and maintain complete supporting documentation.
- Review creditor reconciliations to meet reporting deadlines.
Audit and Compliance
- Support external audit processes and ensure adherence to relevant accounting standards.
- Maintain robust internal controls to protect institutional assets.
- Address audit issues and implement corrective measures promptly.
Financial Policies and Procedures
- Develop, review, and update financial policies in accordance with best practices.
- Train staff on financial procedures and compliance requirements.
Collaboration
- Work closely with other departments to obtain financial data and support their operational needs.
- Provide financial advice and support to department heads to aid in budget management and strategic planning.
Qualifications and Experience
- Bachelor’s degree in Accounting or Finance
- CPA (K) or an equivalent professional qualification
- Minimum of four (4) years’ experience in financial accounting, preferably in an educational or business setting
Key Competencies
- Strong knowledge of financial accounting systems and procedures
- Proficiency in GAAP and auditing standards
- Excellent verbal and written communication skills
- Strong problem-solving and analytical abilities
- Proficiency in accounting software, databases, spreadsheets, and financial management systems
- Ability to manage deadlines and maintain high confidentiality standards
- Strong judgment and decision-making skills
- Ability to support collaborative decision-making processes
Application Procedure
Interested candidates who meet the above qualifications should apply online via https://www.redcross.or.ke/careers no later than 26th May 2025. Only shortlisted applicants will be contacted.
Disclaimer and Notification
The Kenya Red Cross Society is an equal opportunity employer and does not solicit or accept any form of payment from job seekers during the recruitment process. The Society is committed to the protection and welfare of children, youth, and vulnerable adults and expects all employees and volunteers to uphold this commitment.
