Finance Officer – Management Accounting and Budgetary Control job at I&M Bank
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Vacancy title:
Finance Officer – Management Accounting and Budgetary Control

[ Type: FULL TIME , Industry: Banking , Category: Accounting & Finance ]

Jobs at:

I&M Bank

Deadline of this Job:
Friday, September 20 2024 

Duty Station:
Within Tanzania , Dar es Salaam, East Africa

Summary
Date Posted: Tuesday, September 03 2024, Base Salary: Not Disclosed

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JOB DETAILS:
Job Purpose
To prepare and circulating accurate internal reports to management for decision making and other various stakeholders on a timely basis and in the agreed formats.

Key Responsibilities/Tasks
• 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:
a) Collating information from Branches and departments for inclusion in the budget; and
b) 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.

Skills, Knowledge and Abilities
• Knowledge on International Financial Reporting Standards (IFRS)
• Knowledge on Microsoft applications
• Knowledge in financial analytics
• Report writing skills
• Interpersonal skills
• Research skills

Academic / Professional Qualifications
• Bachelor Degree in Accounting, Finance, Business Administration
• Part completion of CPA (T) or ACCA or its equivalent.

Working Experience Required
• At least 3 years relevant experience

Work Hours: 8


Experience in Months: 36

Level of Education:
Bachelor Degree

Job application procedure
Interested and Qualified? Click here to apply

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QUICK ALERT SUBSCRIPTION

Job Info
Job Category: Accounting/ Finance jobs in Tanzania
Job Type: Full-time
Deadline of this Job: Friday, September 20 2024
Duty Station: Dar es Salaam
Posted: 03-09-2024
No of Jobs: 1
Start Publishing: 03-09-2024
Stop Publishing (Put date of 2030): 03-09-2077
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