Job Summary:
The Finance Officer is responsible for maintaining
monthly financial, accounting, administrative and other finance
related services in order to meet legislative requirements and regulatory
compliance in line with prudential guidelines, set accounting standards and
regulatory requirements i.e IRA and CBK. The job holder ensures that robust
controls are maintained around the internal models to provide assurance on the
accuracy and completeness of the Intermediaries’ financial statements.
Key Responsibilities:
Prepare and submit accurate daily, monthly and
quarterly reports/returns and transfer of funds to regulatory bodies.
Ensure the subsidiary income is monitored daily and a
weekly report on the same to be submitted to principal Officer.
Ensure accrual of unpaid utilities and contractual
expenses is done on a monthly basis.
Working capital management i.e. efficient management of current assets (Cash, receivables, inventory) and current liabilities (Payables, accruals) and investment management.
Reconcile bank statements and participate in
financial audits.
Prepare accurate monthly reconciliation for payables
general ledgers, salary advance ledger, accrual ledger, sundry
debtors/creditors and supplier statements (all suppliers with accounts at PBK)
Manage the reporting cycles ensuring monthly
(month-end) reporting including validation of balances reported in financial
reports, provision of business analysis data and output reports to support
decision making.
Regulatory and Statutory reporting ensuring all
internal and external compliance requirements are adhered to e.g. to the IRA,
CBK & Group Reporting
Ensure timely payments of suppliers and service
providers who have accounts with PBK (cheques and RTGS)
Prepare general ledger schedules fortnightly for
prepaid accounts, monthly expense and review the same for completeness and
accuracy.
Financial reporting and planning
Embedding financial and data controls, verifying the
integrity of reports with the General Ledger and underlying transaction
processing systems
Prepare various expense schedules.
Undertake other tasks as assigned from time to time
by Principal Officer, immediate supervisors and other Management team of the
bank.
Lead the monthly and quarterly reporting process
including Board preparation and analytical reviews on the performance in
consultation with the business development team.
Ensure that cost is maintained reasonably as per
budgets by managing premium collections and receivables hence maintaining
provisions at minimum
Key Measurables:
Well maintained and up to date management accounts
Daily reporting Financial analysis from media &
other sources for trend analysis
Customer Service
Accurate and well-prepared management and regulatory
report (KRA, Board, Management)
Submission of annual budgets as well as periodical
monitoring reports (monthly, quarterly, annually)
Compliance to accounting, the Bank, and other laid
down policies and procedures.
On-time payments for suppliers on work done for the
subsidiary.
Keeps in touch with external best practice in finance
and accounting at the appropriate level in order to complement current Banking
practices and contribute to policy development.
Continues to monitor, on own initiative, the
assumptions on which financial plans/budgets are based, and updates these when
changing conditions justify it.
Qualifications & Experience:
A Graduate with Bachelor’s degree in a business
related field, preferable B.Com Accounting, Finance ,Actuarial Science and
Insurance
Proficiency in professional accounting, Knowledge in
CPA, ACCA will be an added advantage.
Computer skills: Must be adept in use of Ms Word,
Excel, Access, power-point, Internet, and email.
Minimum 2 years’ experience in accounts field
preferably in the insurance industry.
Competencies & Attributes:
A Sound knowledge of Insurance products and services;
IRA Prudential Guidelines
Knowledge and effective application of all relevant
financial/insurance policies, processes, procedures and guidance to
consistently achieve required compliance standards or benchmarks.
Planning and organizing skills for effective planning
and execution of tasks and deliverables within timeframes and budget.
Excellent written and oral communication skills for
effective relationships with different stakeholders
Quality orientation to ensure consistency in adhering
and uphold performance standards for Service Level.
Quality of finance and related financial
documentation.
Personality: Enthusiastic, results oriented with
excellent/strong communication and social skills. A forward planner with clear
focus, mature, reliable, hardworking and able to work without supervision.
Job skills:
Understand the Insurance Act;
Understand financial principles & accounting
procedures.
Business acumen, Strategic thinker with ability to
make sound decisions for the business
Understand and implement processes and procedures
Knowledge of current trends in finance within the
banking industry & financial institutions
High levels of professionalism and professional
development
Demonstrate a high degree of sensitivity,
confidentiality when dealing with internal & external customers.
Have a high sense of diplomacy, accuracy and
attention for detail.
Passion for championing & offering excellent
customer service.
Have good reporting skills
Honest and with high integrity.
How To Apply
If you are up to the challenge, possess the necessary
qualification and experience, please send you CV only quoting the job title on
the email subject to recruitment@premierbank.ke
by 31st May 2024. Only shortlisted candidates will be contacted.
