New Job April 2024at Kilimanjaro Co-operative Bank Limited (KCBL), Head of Finance and Administration (HFA)
Head of Finance and Administration (HFA)
JOB VACANCY
Kilimanjaro Co-operative Bank Limited (KCBL) is the only Co-operative Bank in the country, Headquartered in Moshi – Kilimanjaro, is fully-fledged Bank owned by Co-operatives and private business entities. The Bank is ambitiously reorganizing its business model and implementing growth strategy to widen nationwide outreach and network expansion to support Co-operative movement agenda and mass-market financial inclusion for Co-operatives, retail and SMES across the country.
To deliver its strategic agenda and lasting customer experience, the BANK is seeking to recruit professional, competent and experienced Tanzanian to grow their careers and fill vacant positions of Head of Finance and Administration (HFA) in the Department of Finance at KCBL Moshi Kilimanjaro
JOB PURPOSE:
Oversee the development and execution of an effective financial strategy to achieve optimal return on investment and to safeguard bank assets by ensuring correctness and completeness of banking transactions, proper accrual of incomes from investments in accordance with bank policies and procedures.
KEY RESPONSIBILITIES:
Engage with other members of the senior management to develop, finance and implement Bank growth initiatives and objectives including new offerings.
Ensure the delivery of effective financial decision-making – support to the business and its management and oversees the development and execution of an effective financial strategy to achieve optimal returns on investment.
Provide strategic financial management and leadership support across the Bank, in line with the overall corporate strategy.
Develop, update and implement finance and tax strategies, policies and processes.
Initiate and coordinate the formulation of business plans and annual budgets and monitor progress towards achievement.
Provide advice on liquidity, investment, interest rates policies and financial assets management.
Develop and implement sound accounting framework in compliance with statutory provisions both for industry regulators and tax authorities
Review and contribute to the enhancement of the financial policy and procedures for the Bank to ensure that this is aligned with current business and statutory requirements.
Review, develop, monitor and control the budget for the unit and monitor the budget of the department to ensure budgets are aligned with the business plan and expenses are controlled within agreed limits.
Liaise with all stakeholders for example, clients, government institutions, the Bank of Tanzania and other financial institutions to ensure that the Banks interests are properly represented and safeguarded.
Review all unit reports and related processes and procedures to ensure sound quality control and recommend appropriate interventions in line with policy.
Prepare financial analysis to ensure actual performance; changes of key economic indicators and other market information are communicated to business units timely in order to manage variations.
Supervise, verify and submit prepared statutory reports to regulators to ensure compliance to prudential guidelines and procedures.
Oversee the preparation and communication of monthly, quarterly and annual financial accounts to both internal and external stakeholders
Review and monitor reports on in house bank accounts to ensure correctness of the transactions booking and classification of the same to comply with the Financial policy and procedures.
Develop and implement reconciliation procedures to ensure the timely detection of errors and irregularities in bank’s accounts and correction taken in line with the financial policy and procedures.
Supervise, verify and approve reversal and settlements transaction files before posted to the Core Banking system to ensure correctness and timely settlement as per approved policy and procedures.
Manage the performance of subordinate staff, develop, and implement training and development plans to ensure their performance is aligned with business goals and objectives.
Liaise with all stakeholders for example, clients, government institutions, the BOT and other financial institutions to ensure that the Banks interests are properly represented and safeguarded.
Review all unit reports and related processes and procedures to ensure sound quality control and recommend appropriate interventions in line with policy.
Prepare financial analysis to ensure actual performance; changes of key economic indicators and other market information are communicated to business units timely in order to manage variations.
Supervise, verify and submit prepared statutory reports to regulators to ensure compliance to prudential guidelines and procedures.
Oversee the preparation and communication of monthly, quarterly and annual financial accounts to both internal and external stakeholders
Review, consolidate, monitor and control the budget for the bank to ensure it is aligned with the corporate business plan and expenses are controlled within agreed limits and recommend re-allocation / supplementary to achieve corporate goals and objectives.
Develop and implement payment procedures to ensure payments and transfers, detection of errors and irregularities in the payment instructions and correction thereof are effected in line with the financial policy and procedures.
Supervise, verify and approve bank payments and settlements transaction files before posted to the system to ensure correctness and settlement as per approved policy and procedures.
Prepare and review financial policy and procedures for the bank to ensure that it is aligned with accepted accounting principles and regulatory bodies.
Coordinate and supervise periodic audit process with internal and external auditors to ensure that the exercises are performed in accordance with procedures and regulations.
Prepare interim and annual financial reports in accordance with International Financial Reporting Standards to ensure that the management, regulators and the public obtain financial performance of the bank as per policy and procedures.
Monitor and supervise the bank assets register to ensure that assets are classified, amortized in line with bank policy and procedures.
Review annual tax returns from consultants to ensure that they are properly computed and filed in accordance with the inland tax legislation and business strategy.
Manage and supervise daily departmental accounting entries to ensure that the transactions are properly booked in accordance to generally accepted accounting principle
Provide accounting technical support to business units to ensure reported issues/complaints are addressed or corrected timely in accordance with service level agreement.
OTHER RESPONSIBILITIES:
Any other responsibilities under Finance and Administration as may be assigned by the Managing Director from time to time.
EDUCATION, EXPERIENCE, KNOWLEDGE SKILLS & COMPETENCIES
Education
Holder of Master Degree from any recognized University and relevant professional qualifications (CPA/ACCA).
Experience
Minimum of 5 Years’ working experience in the field of banking, finance, administration and accounting with 3 years at managerial level.
Knowledge and skills required
Finance & Accounting
Procurement
Business acumen
Change Management
Analytical Skills
Presentation/ Communication
Competency:
Integrity
Accountability
Flexibility
Team Work
REMUNERATION:
KCBL offers competitive remuneration and benefits. Successful candidate will receive attractive and competitive package commensurate with demands of the position.
MODE OF APPLICATION & CLOSING DATE
Interested candidates who meet the above criteria should submit an Application Letter accompanied with copies of certified academic transcript, certificates and with a detailed up to date CV with two work related referees addressed to:
Managing Director,
Kilimanjaro Co-operative Bank Ltd,
P.O Box 1760,
MOSHI. KILIMANJARO.
Please, note:
Applications should be hand delivered to the Bank offices in MOSHI or emailed through: info@kilicobank.co.tz
The deadline is set at 16hrs on the 25th May 2024
Shortlisted candidates should be ready for online and oral interview.
