Financial Reporting and Controls Manager job at Absa Bank Limited
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Vacancy title:
Financial Reporting and Controls Manager

[ Type: FULL TIME , Industry: Banking , Category: Commercial Banks ]

Jobs at:

Absa Bank Limited

Deadline of this Job:
14 March 2023  

Duty Station:
Within Kenya , Nairobi , East Africa

Date Posted: Wednesday, March 08, 2023 , Base Salary: Not Disclosed

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Job Summary
To perform financial analysis and provide financial accounting services.

Job Purpose
• To process Financial Management information through SAP and TM1 accurately and timely
• To ensure that the reporting requirements to the Group are complete, accurate and timely
• To ensure financial reports to Central Bank are accurate, timely and comply with the reporting requirements
• Provide accurate and timely Management Financials
• Provide training to other team members
• 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 because 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 of improvement

Key Accountabilities
General Ledger Oversight and Control – 30%

• 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
• Alternating the Financial Controller on 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

Process Management – 15%
• Responsible for the accuracy and completeness of raw data into and out of both SAP and TM1 to finalize the base financial information i.e. ‘one version of the truth’. This output is primarily used to produce the reports for Management Accounts such as the CMC Financial Performance pack.
• Managing the ETA process, including gathering information to calculate the ETA’s and the preparation of PC Uploads for input into SAP
• Actively develops a culture of continuous improvement. Review processes procedures and requirements, on a regular basis, identify areas for improvement and drives through the necessary changes.
• Ensures that the integrity of the financial data remains within the highest standards, by ensuring that adequate financial and process controls are in place
• Manage the collation of non-TB data.
• Carry out trend analysis
• In Consultation with Head of Financial Control pass and document all agreed adjustments into the systems
• Carry out Administrator role on TM1 i.e. ensuring system backups are done.

Group Reporting – 15%
• 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
• Prepare and complete all the monthly/quarterly reports
• Ensure all queries from the Relationship Management team and/or Business are dealt with appropriately and issues escalated as required

Regulatory Reporting – CBK Compliance – 15%
• Compile and forward to Central Bank the following reports: -
• Liquidity Statement (PR5_2) as at 10th, 20th, and End month
• Banking Statistics (BSM) reports as at 10th, 20th, and End month
• Deposit Protection Fund Board (DPF)
• Profit and Loss (PR21)
• Capital to Risk Weighted Assets (PR3)
• Quarterly balance sheet (PR5_1)
• Monthly Government accounts return
• Quarterly Agricultural return

Other Facilitative and Support Functions – 10%

• To facilitate effective and constructive sharing of knowledge and experience of compliance issues across the cluster and to effectively engage with other clusters and AGL
• Keep local compliance stakeholders updated on regulatory pronouncements, and the impact to their business.
• Monitor performance and identify areas for improvement. Actively look for ways of smoothing peaks and troughs and reducing time scales. Assist with the development of plans and ensure that these are implemented
• Assist with the development and monitoring of performance metrics / internal monthly scorecard for the Bank, and use these to drive and improve performance, drive out costs, add value, and improve customer service.
• Provide trusted financial analysis on a wide range of complex technical/business issues in connection with jobholder’s area of responsibility, e.g. variances, trend, impact of change initiatives, impact of new accounting regulations and how to account for new areas/ types of business.
• Prepare Market Share statistics from CBK total balance sheet for the board
• Assist in the annual budgeting process, integrated reporting as well as annual financial statements
Staff Management – 15%

Technical Skills
• Excellent analytical skills-Skills to analyze statistical financial information
• Excellent communication skills at all levels.
• Excellent comprehension skills to understand and interpret financial data and economic trends.
• Strong formal presentation skills to gain acceptance to solutions, both internally and externally.
• Team leadership skills
• Interpersonal skills
• Planning and organization skills
• Ability to think creatively and identify innovative solutions
• Up to date knowledge of accounting technical issues (International Accounting Standards/IFRS, etc)
• Strong ability to view issues from a risk & control perspective
• Highly numeric/strong analytical and problem-solving skills
• Drive to continually improve processes and seek new challenges
• Ability to work well under pressure, working accurately with attention to detail, and meeting deadlines
• Demonstrated ability to maintain and enhance relationships with contractors and staff to achieve work goals.
• Skills in forecasting, budgeting, and analysis of variances.
• Strong customer focus (internal and external).
• Strong communication skills and interpersonal skills to effectively translate ideas, concepts and information
• Strong communication and interpersonal skills to effectively translate ideas, concepts, and information.
• Ability to build and maintain business relationships to achieve work goals.
• Excellent comprehension skills to understand and interpret financial data.

Knowledge, Expertise & Experience
• A detailed understanding of the objectives of Absa Group Limited and how they are translated to financial objectives.
• Thorough knowledge of the banking products/services offered, as this will determine the accounting treatment in the books of the bank.
• Knowledge in Bank’s strategic objectives and systems
• Relevant first degree and Accounting professional qualification
• 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

Job Experience: No Requirements

Work Hours: 8

Level of Education:
Bachelor Degree

Job application procedure

Interested and qualified? Go to Absa Bank Limited on to apply

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Job Info
Job Category: Accounting/ Finance jobs in Kenya
Job Type: Full-time
Deadline of this Job: 14 March 2023
Duty Station: Nairobi
Posted: 08-03-2023
No of Jobs: 1
Start Publishing: 08-03-2023
Stop Publishing (Put date of 2030): 08-03-2067
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