DUTIES AND RESPONSIBILITIES OF A LOANS CLERK IN A SACCO SOCIETY

For those aspiring to work in a Sacco Society, these are the main duties and responsibilities of a loans clerk:
(a) Maintain records of members’ loan applications and approvals.
(b) Scrutinizes loan application forms and agreements to ensure they give accurate information and other particulars.
(c) Guides board of directors meeting and advises them on the loan policy, defaulted loans and recovery methods from the guarantors.
(d) Advices the society on amount of loan to be recovered from each member.
(e) Ensures loan transactions are posted to members’ account and computation of interest earned by each member and society is done as necessary.
(f) Reconciles loans accounts to ensure postings are correctly done.
(g) Attends loans committee meetings.
(h) Ensures adequate supply of stationery.
(i) Ensures sample checking of the correctness of interest calculations on loans and act upon discrepancies discovered.
(j) Follow up list overdue loans and debts and ensure that proper recoveries are made.
(k) Carry out any other duties related to credit administration as instructed by the senior management.
(l) Appraise loans applications before they are forwarded to the General Manager.
(m) Advise the senior manager on defaulting of loans and means of recoveries.
(n) Compute defaulted loans, reveal how much is defaulted and the number of defaulters.
(o) Serve guarantors with letters on defaulted loans.
(p) Maintain records of each members’ loan application and approval, have knowledge of how much is loaned each month and the number of loanees.
(q) Ensure adequate supply of stationery in the department.
(r) Enter necessary data in the loan register
(s) Attend approval of loans by the credit committee.
(t) Ensure that there is proper recovery of loans through updating of statements.
(u) Compute capitalized interest on defaulted loans.
(v) Ensure that refund of loan is properly computed.
(w) Delegates duties and responsibilities in the department
(x) Carry out any other duties related to loans as instructed by the senior manager from time to time.

DUTIES AND RESPONSIBILITIES OF CONTROL CLERK IN A SACCO SOCIETY

(a) Designs the internal control systems and procedures of the society.
(b) Advise the board on the weaknesses of the existing internal control systems and procedures.
(c) Ensures that all the policies of the societies are properly implemented and adhered to.
(d) Periodically, prepares internal management report revealing whether the internal control systems and procedures are being followed. This
should be done monthly.
(e) Supervises the heads of sections by getting daily report on the performance of his department.
(f) Delegates responsibilities in his department.
(g) Evaluates the performance of all departments and make recommendations whether the performance is upto required standards.
(h) Carries out induction training to new employees in his department.
(i) Liaising with the external auditor when need arises.
(j) Examines all cheques; cash payments to ensure that NO irregularity in payments is made. Also examine all accompanying relevant documents to ensure that there is genuine authorization.
(k) Examines the final books of accounts to determine whether they present a true and fair view of the financial status of the society.
(l) Prepares leave roaster for the department.

 

DUTIES AND RESPONSIBILITIES OF ACCOUNTANT OF A SACCO SOCIETY

1. Controls all society cash transactions.

2. Prepares quarterly economic performance report for the senior manager.

3. Preparation of the society final accounts.

4. Preparation of monthly financial management report

5. Prepares society financial quarterly reports for board of directors.

6. Prepares annual society budget with assistance of the budget committee.

7. Supervising all the society activities when the senior manager is not present.

8. Tax administration.

9. Compiles all society daily transactions and summarizes all the work done in accounts covered by the employees from all departments/sections.

10. Deputizes the manager.

11. Receives and banks cheques.

12. Records down all the cheques drawn.

13. Ensures that all cash balances are well maintained by using the cheques register.

14. Providing periodic report to the Manager on the affairs of the cash balances.

15. Ensures that all cash transactions involving the co-operative expenditure are properly authorized

16. Supervises cash office operations and the strong room operations.

17. Keeps custody of cheque books and is responsible to the senior manager for drawing of all cheques.

18. Maintains adequate liquidity reserve in accordance with rules and regulations.
Collects cash from the Commercial Banks.

19. Assists in organizing mobile banking services.

20. Distribute cash to tellers as necessary

21. Supervises tellers to ensure they are working according to instructions.

22. Receives and banks cash, cheques postal orders and money orders for loan repayments.

23. Receives, verifies and banks cheques for payment to members.

24. Receives and reconciles daily tellers cash reports.

25. Carries out complete surprise checks at each teller’s cash from time to time.

26. Prepares for daily deposits in the commercial banks.

27. Prepares cash summarizes and reports.

28. Assists in preparing tellers’ training and education programmes.

29. Carries any other duties connected with cash transactions as instructed by the senior manager.

30. Reports in writing immediately to the senior manager irregularities such as:
(i) Forgery
(ii) Theft
(iii) Misappropriation
(iv) Staff misconduct
(v) Misbehavour discovered and take appropriate measure without delay.

31. Any duties that may be assigned to him/her from time to time.

CHARACTERISTICS OF THE TERMS AND CONDITIONS OF SERVICE DOCUMENT

terms and conditions(a) Must be written
(b) Must have clear specifications.
(c) Applicable to all employees without discriminations.
(d) Regulate the conduct or behaviour of employees.
(e) Project the interest of both the society and employee.
(f) Avoid conflict between the societies and the employees.
(g) Ensure that the employees are provided with both financial and non financials’ rewards.
(h) Relate rewards to the performance.
(i) Is reviewed as need arises and
(j) Is very simple to understand.

 

AIMS AND OBJECTIVES OF THE EMPLOYEES TERMS AND CONDITIONS OF SERVICE

management lessonThe aims and objectives of the terms and conditions of service for employees’ is to ensure that there is good industrial relations between the society and its employees. Its main objectives are to assist in:-
(a) Determining the sources of recruitment of employees.
(b) Selecting the capable employees.
(c) Training the employees according to need.
(d) Assigning jobs to the employees.
(e) Evaluating the performance of the employees.
(f) Arranging for the transfer and promotions of the employees.
(g) Abolishing all forms of discrimination among employees on grounds of race, colour sex, belief and tribal associations.
(h) Providing equal pay for work of equal value.
(i) Discouraging occurrence of strikes and lock-outs.
(j) Encouraging professional approach to the handling of disputes.
(k) Encouraging employees to develop themselves within the working environment.

DEPARTMENTS IN A SACCO SOCIETY

1. ADMINISTRATION
(a) General Administration
(b) Secretarial
(c) Registry

DEPARTMENTS2. ACCOUNTS
(a) Information processing and reporting
(b) Book-keeping
(c) Loans recovery
(d) Claims settlement

3. INFORMATION TECHNOLOGY
(a) System design and development
(b) System implementation and support

4. LOANS
(a) Loans processing
(b) Loans attachment

5. FOSA
(a) Savings
(b) Advances
(c) Salary processing
(d) Cheques clearance

%d bloggers like this: