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POSITION: CHIEF FINANCE OFFICER – REF: JOOUST/FIN/CFO/5/22

Job Responsibilities and Roles

The Chief Finance Officer shall provide leadership in financial matters of the University including the preparation of comprehensive financial statements, monitoring the budget and the finance department operations to ensure that the financial reports comply with the international financial reporting standards and other relevant regulations and guidelines for the proper running of the university. Reporting to the Vice-Chancellor through the Deputy Vice-Chancellor for the time being responsible for finance, the Chief Finance Officer shall be responsible for the following:

  • Formulate, develop and implement financial policies for the finance department to ensure that they are in line with the financial regulations and accounting standards.
  • Develop annual budgets for the institution for proper management of resources
  • Advise the on new investment opportunities for the university to aid in the generation of income and increase the university’s net worth.
  • Allocate duties to the finance staff and supervise them to ensure quality service delivery to the students, staff, and other authorized guests who may require finance services.
  • Provide management advice on the final financial statements before being submitted to the auditors for examination on their status in regard to true and fair representation of the university.
  • Provide advice to the institution on financial matters for example financial status, source of funds, donors, and how to allocate funds to various projects that are viable to the university.
  • Control the financial resources to ensure optimal utilization of financial resources through proper allocation of funds to various departments in the institution.
  • Review the university financial statements to ensure that they comply with the regulatory requirements e.g., international financial reporting standards.
  • Organize staff training and development programs to ensure continuous development of staff for better services in the department.
  • Monitor the university expenditure to ensure university budgetary control is strictly adhered to for proper utilization of the university resources.
  • Prepare management and statutory reports and publications for submission to the public.
  • Consolidate the budget for the entire university in compliance with the financial standards and regulatory framework
  • Prepare comprehensive financial statements for publication and presentation to the relevant regulatory bodies to show the status of the university.
  • Approve and authorize the university expenditure in line with the budget to support the university operations and promote academic excellence

Minimum Qualifications and Experience

  • Ph.D. holder in Finance, Accounting, or any other related field with ten (10) years experience OR Master’s degree in Finance, Accounting or any other related field with fifteen (15) years of relevant experience with the Bachelor’s degree in Accounting, Finance, Business Administration, Economics or its equivalent
  • Must have served as Deputy Finance Officer grade 14 or equivalent for at least three (3) years in a university or equivalent institution.
  • CPA(K), ACCA or CIMA(UK), or equivalent qualification.
  • Must be a member of a relevant professional body for example Institute of Certified Public Accountants with at least three (3) years in good standing since registration.
  • Knowledge and practical experience in the use of ERP Systems are desirable
  • Must possess working knowledge of computerized financial management systems e.g., ACCPAC, Sage, Pastel, Great Plains Microsoft Dynamics
  • Demonstrate outstanding qualities of leadership, coordination and organizational capabilities, at top management level.

Terms of Service

Successful candidates will be employed on Permanent and Pensionable Terms EXCEPT for the position of Chief Finance Officer and Chief Internal Auditor which shall be on a five (5)-year Contract Terms renewable based on satisfactory performance.

How to apply

Candidates are advised to visit the Jaramogi Oginga Odinga University of Science and Technology website www.jooust.ac.ke for the positions advertised.

Candidates who satisfy the requirement stated above should forward their application both in soft and hard copy, quoting the reference number for the position applied for including up to date curriculum vitae, details of current remuneration, certified copies of academic and professional certificates, and testimonials as well as names and contacts ( including postal and email addresses, and daytime telephone numbers) of three referees to reach the under-mentioned So as to be received on or before 15th May 2022 by 5.00 pm.

Applicants should also meet the requirements of chapter six (6) of the Constitution of Kenya 2010.

Vice-Chancellor

Jaramogi Oginga Odinga University of Science and Technology

P.O. Box 210 – 40601, BONDO, Kenya

TEL. 057 – 2501804

Email – vc@jooust.ac.ke

Only successful candidates shall be contacted.

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