The department manages all FOSA activities and all Branches.
Main Duties and responsibilities for the department include:
- Planning, organizing and coordinating the credit and savings activities.
- Supervising the smooth day-to-day running of the credit and savings activities in head office, branch office(s) and mobile units to ensure that they are discharged within applicable rules and regulations.
- preparing of daily and monthly reconciliations, monthly trial balances, monthly and quarterly reports on reconciliation and development of savings, loans and debts, liquidity, reserves, gross interest margin for head office and all branches and submitting the reports to corporate finance and accounting department to take proper action on such information.
- Ensuring that proper security arrangements are followed in all operations as regards to insurance, alarm system, cash limits, guards, safe, strong room, security of employees, and mobile unit.
- Preparing and implementing the plans for service to members in the section.
- Reporting in written immediately to the CEO,s Office irregularities such as:
(iv) Staff misconduct.
(vi) Shortages or excesses of cash etc.
- Supervising all transactions with the Commercial Banks regarding accounts operated and thereby planning for sufficient liquidity both in head office and branches.
- Controlling and ensuring that payments to members are properly prepared and reconciled before being effected.
- Handling correspondences on departmental matters related to customers, the society and other stakeholders.
- Ensure that members’ accounts are up to date, reconciled and properly kept
- Record members’ savings, un-withdrawal-able deposits and debt transactions
- Promoting savings and credit activities and assisting members in their preparations for participation.
- Attending to all inquiries made by customers in the front office.
- Undertaking constant evaluation of customer service strategies and programmes by merging their benefit and recommending possible strategies that will result in maximum benefits in the long run.
- Advising customers on existing and upcoming products and services and also passing information to CEO’s office based on customer needs.
- Ensuring that all branch Bosa/Fosa cashier daily reports are done in duplicate and a copy sent to the head office as a backup copy.
- Ensuring that register of specimen signatures, savings account and passbooks are properly maintained.
(r) Ensuring that all transaction documents are filed and stored according to instructions.
(s) Reviewing the systems for recording, remitting, and filing, storing and proposing improvements as are necessary.
(t)Ensuring prompt banking of cash received at branches.