Cost Accountant job at National Social Security Fund (NSSF) | Apply Now

Accounting Operations:

• Ensure that the accounting procedures are followed and provide recommendations to improve the finance processes.

• Designing and maintaining an effective Cost Accounting System.

Cost Control and Performance Analysis:

• Prepare monthly expenditure reports for budget holders and management and coordinate the compilation of credible comments (variance analysis) from the budget holders and cost control team.

• Ensure budget/performance monitoring and reporting. Track budget variances and challenge budget owners on any deviation from the approved cost baseline.

• Undertake value-for-money process reviews and analyses for the identified major business processes.

• Review operating expenditure invoices to ensure budget availability and proper cost allocation.

• Organize regular cost review meetings with budget holders to identify opportunities to improve budgetary control.

• Establish appropriate coordination with other project functions to ensure compatibility with the cost control requirements and timely flow of the information.

• Ensure that potential budget overruns are anticipated, and corrective measures are in place to ensure the recoverability of all costs.

• Identifying and analysing cost information to detect trends and propose control action.

• Develop and maintain an Analytical Database to monitor expenses within the Fund.

• Analysing the profitability performance of various initiatives and products or segments within the Fund.

Budget Preparation Exercise:

• Coordinate the preparation and consolidation of the Fund’s annual budget for review and approval by Exco and the board.

• Preparation of budget schedules or calendars, preparing budgeting templates, supporting departments as they prepare their budgets, and reviewing departments’ budget submissions.

• Preparation of the budget papers for both Exco and board review as well as a budget paper for approval by the minister.

• Prepare analyses to guide the budget holders regarding trends and pricing for various activities within the budget. This will be in collaboration with budget holders to provide more context.

• Provide technical guidance with regards to the budgeting system to all staff involved in the budgeting process at the Fund.

• Hold internal sensitizations and training in regard to budgeting and cost control measures.

Stakeholder Engagement and Collaboration:

• Engage with different stakeholders in and out of the Fund to facilitate the achievement of departmental and organizational objectives.

• Lead discussions with managers on cost structure to reach the best compromise between cost monitoring needs and accounting and system constraints.

• Support the Procurement and Disposal Unit with the annual market survey to determine the market prices for the Fund’s major consumables.

• Engage in the preparation of both the annual integrated report and the annual ESG /Sustainability report of the Fund.