🇸🇱 Job Vacancy @ Irish League of Credit Union Foundation Limited (ILCU ) – Monitoring Officer

JOB DESCRIPTION

Job Title: Monitoring Officer (MO)

Location: Freetown

Reports To: Head of Monitoring

Liaises With: ILCUF Ltd.  and Credit Union staff as required

Contact Details:  1-year 5months contract (3 months probation) with the possibility of    extension based on performance and funding

Number of persons: 1(One)

The Irish League of Credit Union Foundation (ILCUF) Ltd. is a Sierra Leone registered organization that provides financial and technical assistance to Sierra Leone credit unions (financial cooperative organizations), NaCCUA (the Sierra Leone credit union Apex body), and relevant government authorities. In its work ILCUF, Ltd. adheres to a Code of Conduct that sets out the ethical principles of its work in the country and its commitment to the highest standards of openness, transparency, and accountability; its nature of work is apolitical, secular, democratic, and non-discriminatory.

The Monitoring Department in ILCUF Ltd. works closely with NaCCUA and the relevant government authorities to ensure all affiliated credit unions are operating in accordance with generally accepted best practices for credit unions and all approved Sierra Leone policies and procedures and regulations.

Main Purpose of Job: Monitor the performance of credit unions and ensure compliance of these credit unions with generally acceptable standards for credit unions in Sierra Leone by collecting, verifying, and compiling credit union-level data and offering suitable recommendations for improving credit union performance.

SPECIFIC DUTIES

Monitoring Officers will conduct regular visits to credit unions. The duties of the Monitoring Officer (MO) shall include, but not be limited to, the following:

Understanding and appreciation of policies, procedures, financial information, and reports

• Know, understand, and appreciate written policies, procedures, financial information, plans, and reports.
• Able to imbibe the credit union ethos and philosophy
• Ability to translate credit union ethos, philosophy, and policies into Standard Operating Procedures (SOPs) for Credit Unions

Information Gathering and Compilation

• Collect and verify information on credit union performance using standardized tools and accounting software.
• Review bookkeeping and accounting records for completeness and integrity.
• Validate data collected in credit unions to ensure correctness.

Analysis

• Analyse operational and financial reports and documentation, offering appropriate solutions to deal with any weaknesses identified in consultation with the Head of Monitoring.
• Proffer recommendations on the financial performance of the credit unions through ratio analysis
• Proffer recommendations on the non-financial performance of the credit and ensure sound governance structures.

Communication and Follow-up

• Present and explain recommendations and analysis reports to credit union staff and leaders, in a constructive and supportive manner.
• Follow-up with credit union staff and leaders in relation to recommendations.
• Ensure the board of directors performs their governance roles and is in compliance with the rules

Reporting and Liaising

• Provide in full all required reports on monitoring work and credit union performance to the Head of Monitoring in a timely manner, ensuring they are free from error to the extent possible.
• Provide feedback to the Head of Monitoring on the effectiveness of the monitoring system.
• Liaise with ILCUF Ltd. Training Officer on credit union training needs.
• Liaise with ILCUF Ltd. IT department to determine the IT training needs and support for CUs
• Ensure staff of Credit unions understand and are able to prepare financial reports
• Provide feedback to the Head of Monitoring any observed governance issue in the Credit Union

Other

• Undertake other related duties as assigned by the Head of Monitoring.

QUALIFICATIONS AND KEY COMPETENCIES

Education

Essential

• Bachelor’s Degree in a relevant field – preferably in accounting, finance, or other related professional fields.

Experience, Skills, Aptitude, or Personality

Essential

• Experience in accounting and financial management.
• Excellent computer skills (e.g., Microsoft Word and Excel)
• Excellent analysis and interpretation skills of financial and non-financial information.
• Ability to transfer knowledge to others.
• Ability to work on one’s own initiative.
• Ability to work as a part of the team, even while working remotely.
• Excellent interpersonal and communication skills.
• Flexible and adaptable to a changing environment.
• Excellent organizational skills and ability to meet deadlines.
• Willingness to travel frequently to credit unions and Strong taste for fieldwork.
• Fluent in written and spoken English, spoken Krio, and knowledge of other local languages is an added advantage.

Desirable

• Experience working in a financial institution in the area of bookkeeping, accounting, or finance.
• Strong commitment to poverty reduction through community, cooperative, and voluntary initiatives.

HOW TO APPLY:

Interested persons should send their applications to the following email: [email protected]

and copy: [email protected]

The application deadline is June 16, 2023.

Only shortlisted applicants will be contacted.