Finance Officer – Management Accounting and Budgetary Control job at I&M Bank | Apply Now

Management Accounting:

• Process corrective entries in the system from various branch and HR staff such as reversal of entries, correction of errors

• Ensure accuracy and completeness of the adjusting entries booked in the system

• Payments Processing: Staff claims (travel assistance, per diem, expense claims), Branch petty cash replenishments: Suppliers/Vendors Payments, Maintain Tiss & TT register

• Preparation of LPO’s upon request from different departments

• Responding to branch & HQ queries regarding payments/claims

• Incorporating the post month end entries and adjustments and ensure expense accruals are correctly captured and reconciled & prepayment amortization is properly done and submitted as per agreed TAT

• Perform regular nostro reconciliations and submit the report to the owner departments for clearance of outstanding items

• Perform regular review of finance related suspense accounts (for both suspense debit & suspense credit) and branch suspense accounts and ensure the entries are cleared within 30days period

• Controlling financial resources and ensuring that all financial transactions, systems and procedures comply with regulations, accounting principles, and standards

• Financial analysis and reporting, taxation, accounts payable and receivable, inventory and costs control, and budgeting and forecasting

• Advising management on financial matters and the impact of laws and regulations on the organization

• Work with finance analysts to develop budgets, understand financial reports, and manage day to day review of general ledgers

• Review and monitoring of Cost centre budget and ensure monthly reports are shared with cost centre owners and arrange meeting with Business/Cost Centre owners to discuss variances noted in their report and instill cost conscious culture

• Ensuring all tax returns, payments, and other required reports are submitted accurately and on time

• Ensure timely processing of payment to suppliers and staff per agreed Turn around Time and ensure records are safely kept to allow auditing of payments.

• Ensure all queries and complaints are timely attended as per the agreed Turn around Time including attending internal and external auditors

• Close follow up on receivables accounts (Intercompany) to clear outstanding items on time to avoid provision for loss.

• Review and process accounting adjustments/reversals in the Core Banking System initiated by the business units

• General maintenance of the General ledger and ensure successful period end closure of the GL

• Work closely with Managers in monitoring Finance Risk register to ensure the controls are effective.

• Work closely with Managers to ensure compliance with Finance processes/ procedures / policies.

• Fully be available for any other duties related to finance and control as may be assigned from time to time by bank’s management.

• Ensure Fixed Assets register and IFRS 16 model register are updated timely for any additions, disposal, deletion, adjustments/modifications, depreciation and asset code. Ensure physical verification of Banks assets is done once per year

Budgetary Control:

• Assisting in the preparation of annual budgets which includes:

• Collating information from Branches and departments for inclusion in the budget; and

• Analyzing the historical expenses data for incremental budgeting.

Reconciliation:

• Review and approve NOSTRO reconciliation on a day-to-day basis

Risk Management:

• Ensure effective adoption and utilization of risk management tools

• Drive remediation of risk management exceptions identified during audit or risk reviews

• Promote risk management culture

Payments and Month-end adjustments:

• Ensure timely processing of payment to suppliers and staff, branch petty cash replenishments per agreed Turnaround Time and ensure records are safely kept to allow auditing of payments. This includes: Preparing Dr Vouchers for each invoice, Maintain Tiss & TT register, Getting approvals from Finance Manager/Head, COO & CEO, Posting in Fin 10 and sending Tiss(For vendors with no a/c with I&M)

• Preparation of LPO’S upon request from different departments

• Ensure all queries and complaints are timely attended as per the agreed Turn around Time including attending internal and external auditors

• Review and process accounting adjustments/reversals in the Core Banking System initiated by the business units

• Preparation of LPO’S upon request from different departments

• Preparation of journal entries of month-end posting including correcting entries, Provisions, monthly amortization of prepayments, accruals and depreciations

Audit Compliance:

• Respond to queries from internal and external audits in relation to the Finance Department.

Reporting:

• Review management, financial required by laws, regulations, framework or boards of directors.