Absa Bank Limited (Absa) is a wholly owned subsidiary of Barclays Africa Group Limited. Absa offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance.

Read more about this company

Financial Controller

Job Type

Full Time

Qualification

BA/BSc/HND

Experience

Location

Nairobi

Job Field

Finance / Accounting / Audit

Job Summary

To provide leadership for the finance team, supporting coaching & development and communication across the team.

To lead the Financial Control and Reporting team, working with the senior management team and African Region financial control to ensure that financial records and controls are in line with all applicable accounting policies/Group policies.

Responsible for the integrity of the entire financial control process in addition to the reporting of external financial statements, tax and regulatory reports, Group reports and management/board performance reports

To be a trusted technical expert with respect to Central Bank regulations, IFRS/IAS and other Group Policies within Finance, ensuring that accounting is in compliance with IFRS and regulatory accounting guidelines

To ensure that appropriate statutory audits and examinations are conducted in a professional and timely manner

Lead the cost control management across the bank, supporting the Business Partners with review and challenge of both BAU and Project costs

Provide finance support and input into business and operational improvement projects across the bank

Deliver improved Risk Management Control and Compliance.

Key Role in championing and managing change introduced as a result of the New Projects and other initiatives/programmes impacting on the bank.

Manage the balance sheets and the profit and loss accounts of the subsidiary companies and provide avenues for improvement.

Responsible for maintaining the banks creditors’ ledger.

Job Description

Key Responsibilities and Accountabilities:

General Ledger Oversight and Control - 30%

Overall responsibility for general ledger controls within the bank

Ensure ongoing improvements to the GL controls and reconciliation process across the bank

Review reconciliations performed by the Financial Control team

Chairing the Balance Sheet Review Committee meeting and ensuring the effectiveness of the committee

Responsibility for maintaining proper accounting records

Responsible for ensuring accurate period end close and ensuring all month –end reconciliations are done

Responsible for Balance Sheet Review and ensuring all exceptional items are investigated and escalation process established and followed.

Approve all new Flex accounts, ensuring mapping in TM1 and SAP are correct

Responsible for preparation for audits

Responsible for managing the closure of all audit findings, ensure action plans are in place and report to ARO as necessary

Statutory & Regulatory Reporting – 30%

Responsible for regulatory reporting to the Central Bank of Kenya - Review and approve the completed schedules before they are submitted.

Responsible for the quarterly, half year & full year statutory reporting, including newspaper publications.

Ensure compliance with IFRS/Group Accounting policies, regulatory guidelines and procedures in Group, Statutory and Regulatory reporting.

Maintain close relations with the central bank to understand the direction they are.

Responsible for ensuring all board papers (including subsidiary board committee papers) are prepared, reviewed and submitted on time.

Set timetable and coordinate auditors requests in respect of both internal and external audits

Ensure the timely and effective preparation and maintenance of the Fixed assets register to enable accurate calculation, movement and monitoring of depreciation

Stakeholder Engagement – 10%

Manage the relationship with external auditors and Absa Internal Audit

Maintain close relations with the Central bank, Tax Authorities and other applicable Regulatory Bodies

Engage AGL Head of Financial Control and ensure alignment with Absa Group Limited Financial Control Objectives

Manage Relationship with Functional heads

Risk Management Control and Compliance – 15%

Understand the appropriate Group and Africa Region Policies & Standards applicable to role.

Understand and manage risks and risk events (incidents) which are faced in the role thereby contributing to the adherence to the Group Risk and Control Framework.

Ensure that practices and controls required by Policies are communicated to all relevant colleagues

Ensure that independent oversight, on a proactive basis takes place of the risk performance (including related control effectiveness) Principal Risks.

Maintaining procedures to monitor compliance with Policies and any controls required by them

Ensuring compliance with the Group process for applications for waivers and dispensations and the notification of breaches of Policies as appropriate

Team Leadership/Management - 15%

Provide leadership, line management & coaching to both the Financial Control team and more broadly across finance

Manage the provision of training and support to other areas of the bank to ensure they have sufficient financial understanding to support the Financial Control function

Proactive member of the bank’s senior leadership team committed to achieving success and providing support for Colleagues.

Pursue your own personal development to increase job effectiveness

Knowledge, Expertise and Experience

Bachelor’s Degree from a recognized university

ICPAK Accreditation

Thorough knowledge of the banking products/services offered, as this will determine the accounting treatment in the books of the bank.

Knowledge in Bank’ strategic objectives and systems

Significant practical experience in a Senior Finance role

Experience in management reporting in a financial institution

Demonstrated ability to manage, motivate and develop a team and effectively work with other staff

Technical and practical skills in financial controlling.

Knowledge of the Bank’ procedures and processes

Up to date knowledge of VAT, WHT and Income Tax

• Overall responsibility for general ledger controls within the bank
• Ensure ongoing improvements to the GL controls and reconciliation process across the bank
• Review reconciliations performed by the Financial Control team
• Chairing the Balance Sheet Review Committee meeting and ensuring the effectiveness of the committee
• Responsibility for maintaining proper accounting records
• Responsible for ensuring accurate period end close and ensuring all month –end reconciliations are done
• Responsible for Balance Sheet Review and ensuring all exceptional items are investigated and escalation process established and followed.
• Approve all new Flex accounts, ensuring mapping in TM1 and SAP are correct
• Responsible for preparation for audits
• Responsible for managing the closure of all audit findings, ensure action plans are in place and report to ARO as necessary
• Responsible for regulatory reporting to the Central Bank of Kenya - Review and approve the completed schedules before they are submitted.
• Responsible for the quarterly, half year & full year statutory reporting, including newspaper publications.
• Ensure compliance with IFRS/Group Accounting policies, regulatory guidelines and procedures in Group, Statutory and Regulatory reporting.
• Maintain close relations with the central bank to understand the direction they are.
• Responsible for ensuring all board papers (including subsidiary board committee papers) are prepared, reviewed and submitted on time.
• Set timetable and coordinate auditors requests in respect of both internal and external audits
• Ensure the timely and effective preparation and maintenance of the Fixed assets register to enable accurate calculation, movement and monitoring of depreciation
• Manage the relationship with external auditors and Absa Internal Audit
• Maintain close relations with the Central bank, Tax Authorities and other applicable Regulatory Bodies
• Engage AGL Head of Financial Control and ensure alignment with Absa Group Limited Financial Control Objectives
• Manage Relationship with Functional heads
• Understand the appropriate Group and Africa Region Policies & Standards applicable to role.
• Understand and manage risks and risk events (incidents) which are faced in the role thereby contributing to the adherence to the Group Risk and Control Framework.
• Ensure that practices and controls required by Policies are communicated to all relevant colleagues
• Ensure that independent oversight, on a proactive basis takes place of the risk performance (including related control effectiveness) Principal Risks.
• Maintaining procedures to monitor compliance with Policies and any controls required by them
• Ensuring compliance with the Group process for applications for waivers and dispensations and the notification of breaches of Policies as appropriate
• Provide leadership, line management & coaching to both the Financial Control team and more broadly across finance
• Manage the provision of training and support to other areas of the bank to ensure they have sufficient financial understanding to support the Financial Control function
• Proactive member of the bank’s senior leadership team committed to achieving success and providing support for Colleagues.
• Pursue your own personal development to increase job effectiveness
• To provide leadership for the finance team, supporting coaching & development and communication across the team.
• To lead the Financial Control and Reporting team, working with the senior management team and African Region financial control to ensure that financial records and controls are in line with all applicable accounting policies/Group policies.
• Responsible for the integrity of the entire financial control process in addition to the reporting of external financial statements, tax and regulatory reports, Group reports and management/board performance reports
• To be a trusted technical expert with respect to Central Bank regulations, IFRS/IAS and other Group Policies within Finance, ensuring that accounting is in compliance with IFRS and regulatory accounting guidelines
• To ensure that appropriate statutory audits and examinations are conducted in a professional and timely manner
• Lead the cost control management across the bank, supporting the Business Partners with review and challenge of both BAU and Project costs
• Provide finance support and input into business and operational improvement projects across the bank
• Deliver improved Risk Management Control and Compliance.
• Key Role in championing and managing change introduced as a result of the New Projects and other initiatives/programmes impacting on the bank.
• Manage the balance sheets and the profit and loss accounts of the subsidiary companies and provide avenues for improvement.
• Responsible for maintaining the banks creditors’ ledger.

• Thorough knowledge of the banking products/services offered, as this will determine the accounting treatment in the books of the bank.
• Knowledge in Bank’ strategic objectives and systems
• Demonstrated ability to manage, motivate and develop a team and effectively work with other staff
• Technical and practical skills in financial controlling.
• Knowledge of the Bank’ procedures and processes
• Up to date knowledge of VAT, WHT and Income Tax

• Bachelor’s Degree from a recognized university
• ICPAK Accreditation