Finance Officer –Management Accounting and Budgetary Control at I&M Bank
Job Overview
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Finance Officer –Management Accounting and Budgetary Control at I&M Bank Tanzania
Finance Officer –Management Accounting and Budgetary Control at I&M Bank Tanzania
Position: Finance Officer –Management Accounting and Budgetary Control
Company: I&M Bank
Location: Dar es Salaam
Ajirayako.co.tz is a leading jobsite in Tanzania. We list the latest jobs in Tanzania from leading employers. I&M Bank is currently seeking a qualified candidate to fill the position of Finance Officer –Management Accounting and Budgetary Control
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 Turn around 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
How to Apply:
This is Full-time Job, To submit your application, please follow the link provided below.