Job Purpose
- To work hand in hand with Manager Financial Reporting to Produce Annual Financial Statements for the bank in accordance with International Financial Reporting Standards (IFRS’s) and ensure existing and new IFRSs are fully adopted by the bank.
- Ensure robust Internal Financial Control environment through different reporting forums and tolls available in the bank.
- To assist both Manager Financial Reporting and Head of Finance in the preparation of Annual Financial Statements for the bank as well as monthly financial results for internal reporting and monitoring.
- To help and create a room for innovation, automation and improvement of process in order to achieve efficiency in Financial Reporting.
Key Responsibilities/Accountabilities
Customer service
• To assist the Manager, Financial Reporting in the design and implemention of internal work processes to improve service delivery.
• To respond to needs for financial information and advice.
Reporting
• To assist with preparation of the monthly and annual financial statements in compliance with IFRSs as required by the bank. Work closely with the Manager, Financial Reporting for input and additional information as required for completion of these financial statements.
• To prepare the monthly General Ledger account reconciliations for which Finance is responsible as assigned.
• To assist both Manager Financial Reporting and Head of Finance in the preparation of FIP (Financial Information Pack) and periodic audit management.
• Obtain and collate all reconciliations performed by other divisions such as Operations and Credit for reporting into the IFC through Core Banking attestation and Assurenet.
• To prepare periodic schedule for related and third-party reporting for review by Manager, Financial Reporting for disclosure in both periodic and Annual Financial Statements.
Day to day activities
• To perform the processing of journals in GBM/SAP to account for fair value adjustments on some financial instruments based on the marked to market valuations, e.g. Treasury Bills and Bonds.
• To prepare monthly staff off market loans computations and process the necessary journals thereof.
• To prepare the computation and processing on Lease Accounting and process the adjusting journals in accordance with IFRS16.
• To prepare the computation of the Time Value of Money and process the adjusting journals thereof in conjunction with Credit input.
• To prepare the computation of the Modification on all modified loans and process the adjusting journals thereof in conjunction with Credit input.
• Ensure proper recording of financial transations by reviewing of postings to the general ledger generated by Finance.
• Monitor and Reconcile intercompany accounts and other suspense accounts on a monthly basis.
• Confirm and check that the interest received, paid and accrued per Investments per currency agree to Trial Balance.
• Adjust on monthly basis the fair value of the investments based on the marked to market valuation in terms of IFRS
• To ensure monthly core banking attestation and proper reporting on a monthly basis.
• To ensure proper SAP attestation (Cadency) on a monthly basis for consolidation into IFC report.
• Help design relevant business processes and system deliverables to implement new products and systems in line with business requirements.
• Act as backup for Manager, Financial Reporting.
Staff development
• To be responsible for own development.
• To deliver constructive feedback to staff.
• To seek constructive feedback from Supervisor/Manager.
• To systematically measure performance and compliance within the Finance Division.
Minimum Qualification and Experience
Qualification
General Accountant or similar qualifications in Financial Accounting field.
Experience & Knowledge
• Minimum of 3 years experience.
• Sound knowledge and practical application of International Financial Reporting Standards.
• Computer literacy and knowledge of personal computers and software packages such as MS Word, MS Excel and MS PowerPoint. Working knowledge of Bankmaster and SAP will be advantageous.
• Good communication and presentation skills.
• Experience in change management with the ability to positively lead change.