Finance Officer Job in Kenya

Job Title: Finance Officer

Hiring Organization: Premier Bank
Location – Locality: Nairobi
Location – Region: Kenya
Industry: Banking
Job Type: Full Time
Salary: KES
Date Posted: 05/24/2024

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.

Remuneration

A package commensurate to the posts shall be discussed and agreed with the successful candidates.

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.