JOB DETAILS:

Job Purpose Statement

The job is responsible for overall general ledger management and reconciliation policy within the bank and enhancement of quality of products reporting, accounting, controls and revenue assurance to support business objectives. The role provides direction, leadership, oversight and is specifically:

• • The role will participate and support implementation and entrenchment offinancial controls culture, policies, tools, processes and procedures that ensure internal efficient and effective preparation and dissemination of financial information
  •  Responsible for systems assurance to verify accuracy and completeness of transactions and resulting revenues.
  •  Responsible for specialised financial market’s products accounting and financial reporting in line with International Financial Reporting Standards (IFRS), tax laws and Bank policies. In turn ensuring trade positions are fair valued where applicable.
  • Responsible for primary control function for banks products accounting and financial reporting in line with International Financial Reporting Standards (IFRS), tax laws and Bank policies. Monitoring products revenue assurance aspects to specified remit of bank operating business entities.
  • Balance-Sheet substantiation process through monitoring of suspense accounts with the aid of daily reconciliation, follow-up and escalation of ageing items to various departmental heads and finance Champion RCSA, BIA and BCP for finance and all other policies and procedures
  •  Lead both Internal and external audit processes
  • The role reports to Head of Finance and will support external audit process and be the lead in the preparation and revision of finance procedures and policies

Key Accountabilities (Duties and Responsibilities)

• Minimize operational losses through application of sound analytical judgment to identify trends, suggesting and implementing improvements to the existing controls, procedures and systems to bolster fraud prevention
• Ensure all staff in the department adhere to cost management measures put in place by the bank such as stationary, telephone and taxi usage.
• Work closely with the Finance system to ensure data quality and is accurate through correct set up and maintenance of the ledgers.
• Ensure daily reconciliations for all suspense accounts. Provide monthly reconciliation status report and carry-out quarterly GL substantiating on the entire balance sheet and share relevant stakeholders.
• Signing off for new suspense accounts, promptly closure of inactive/dormant accounts and re-naming of automatically opened accounts in line with the Bank policy
• Prompt follow-up and escalation of aged items in suspense accounts
• Responsible for proper configuration of banking products in Core banking system and other systems in accordance with the International Financial Reporting Standards and regulations.
• Responsible for analysis of actual vs. expected revenue from various bank products and transactional revenue lines.
• Responsible for analysis and identification of potential revenue leaks in various bank processes such as incorrect or un-priced transactions, operational inefficiencies, missing transactions and uncollected revenues.
• Responsible for cross-functional teams partnering in driving business performance and revenue collections.
• Responsible for mapping and implementation of routine controls for all revenue affecting activities including discounts, adjustment and waivers, as well as lead efforts to develop policies and procedures that streamline revenue assurance processes.
• Responsible for daily treasury P&L reconciliations and reporting on financial performance
• Responsible for analysis, investigation and follow up on closure of any identified Calypso system shortcomings.
• Responsible for periodic assessment and review of Calypso system parameter set ups and validations.
• Closely monitor unclaimed assets to ensure the assets are remitted on timely manner as per BOT guidelines.
• Ensure the unit is represented in all projects affecting GL accounts both balance sheet and PL

Job Specifications

• Academic:
  University Degree in Business related studies or equivalent - minimum 2nd Upper Class Honors or 3.0GPA.
  Professional:
• CPA/ACCA qualitifiaction
• CIMA or equivalent will be an added advantage
•  8 years’ experience  to large corporate organisation.
• A working knowledge of a bank’s operating systems, controls and general banking
•  Knowledge of regulatory and statutory requirements
• Practical experience in use of relevant MS Office applications
• Competency in the use of INTELLIMATCH and T24 bank systems
• Five years’ work experience in middle management role.
• Competence in use of Calypso, SAP and T24
• Practical experience in use of relevant MS Office applications.
• Experience in the financial services industry or banking sector