Grade Alignment: Associate to Senior Associate
Job Summary
- Formulate and execute company control processes, and complete daily, weekly, and monthly accounts reconciliations by identifying and reconciling differences, escalating issues, and communicating results to management and colleagues.
Key Task
- Budget & Budgetary control
- Accounts reconciliation
- Regulatory compliance reporting
- Revenue and cost assurance
- Internal audit
- Asset and liability management
- Special investigations and daily call-oversEnsure proper internal audit and control system.
Responsibilities
Budget & Budget control:
- Monitor annual budget figures
- Provide a monthly variance and budget gap report
- Ensure expenses are always within budget except with exceptional approval
Accounts reconciliation:
- Ensures that cash amounts in the company’s ledgers agree with bank balances
- Ensures guidelines and policies around cash processes are adequate & effective
- Ensure daily call-over
- Monthly bank reconciliation of all accounts
Regulatory compliance reporting:
- Ensure zero regulatory infraction in areas relating to financial reporting
- Review fillings to regulators
- Ensure the remittance of all government taxes
Revenue and cost assurance:
- Develop an integrated cycle to ensure prevention, detection, analysis, and Response
- Ensure avoidable losses and cost exposure
- Ensure no opportunist fraud window
- Ensure no areas of income leakages
Internal Audit:
- Develop a proper internal audit and control system
- Define control measure for all key activities and ensure compliance
- Prepare audit reports
- Advise units on departure from policies, procedures and other exceptions
Asset and Liability Management:
- Develop an ALM system
- Develop ALM policies and procedures
- Suggest strategic guidance where necessary
Special investigations and daily call overs:
- Review all payment vouchers to both internal and external parties
- Perform investigations into suspected fraudulent/ sharp practices
- Provide appropriate line of action and recommendation for investigated fraudulent activities
Others:
- Prepare/compile agreed periodic activity report for the MD/CEO
- Other ad-hoc assignments as assigned
Key Performance Indicators
- Summary KPI
- Non-Financial/Internal
- Budget and Budget Control
- Budget variance analysis 5th working day of the month
Regulatory compliance reporting:
- Ensure zero regulatory infraction in areas relating to financial reporting
- Accurate review of fillings to regulators
- Timely remittance of all government taxes
Revenue and cost assurance:
- Development of an integrated cycle to ensure prevention, detection, analysis, and response
- Cost savings on avoidable losses and cost exposure
- Decrease and detection of income leakages
- Number of suggested strategy
Internal Audit:
- Development of internal audit and control system
- Increase of compliance of all key activities
- Prepare audit reports
- Decrease in exceptions by the units
- Number of identified exceptions
Asset and Liability Management:
- Development and implementation of an ALM system
- Development of all necessary ALM policies and procedures
- Number of suggested strategic guidance
Special investigations and daily call overs:
- Timely review of all payment vouchers to both internal and external parties
- Number of investigated fraudulent and sharp practices
- Reduced number of fraud cases
Others:
- Integrity and Accuracy of Accounting Records:
- Account reconciliations- Daily
- WACC- Daily
- FD position analysis- Weekly
- Account reconciliation- Daily, weekly and Monthly
- Control and Monitoring- Daily
- Adhoc task- Continuous
- Regulatory Compliance- Fillings 24hrs before the specified deadline.
- Savings on income leakages
- Timely and discreet execution of investigations
- Number of timely conducted audits
- Reduced fraud cases
- Comprehensive, clear, and constructive audit and fraud reports
- Reduced number of mitigated risk
- Minimum exceptions found by external auditors
Specification/Qualification
Qualification:
- First degree or its equivalent in a numerate discipline (Accounting, Economics, Finance, etc.), MBA or Master’s degree will be an added advantage.
Minimum Experience:
- Minimum of 6 years’ cumulative work experience in a similar role
Professional Membership:
Core skills:
- Knowledge of corporate governance practices
- Ability to analyze data
- Ability to read large volumes of documents effectively and extract necessary information
- In-depth understanding of the organization’s business issues
- Communication & Presentation
- Good report writing skills
- Proficient at Excel, MS Word, and Powerpoint
- Developed the ability to produce reports and presentations to a professional standard
- Excellent written and oral communication skills
- Excellent proof-reading skills
Generic skills:
- Communication skills, Analytical ability, Integrity.
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