SeniorFull TimeEN
NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.
Job Summary
• Responsible for ensuring that all GL accounts are reconciled and reviewed, with balances substantiated, validated, and accurately represented, so they can be relied upon in the preparation of the financial statements.Job Description
OPERATIONAL MANAGEMENT (60%)
Understand the account balance including its usage and standard transactions.
Responsible for preparing all assigned reconciliations of reconcilable accounts within Head Office Finance.
Ensure TBs are sent to branches on the first working day of each month for branch GLs reconciliations.
Identify, investigate and query exceptional items according to the Internal Accounts Business Rules.
Report Items at risk (IAR’s)/balances not reconciled (BNR’s), where appropriate ageing information has been provided and a detailed comment has been added for exceptions.
Escalate items over the limit to the finance manager immediately and record action.
Ensure that exceptional items are escalated to the Account Owners and Reconciliation manager and/or line manager.
Ensure that all reconciliations and monthly reports are filed.
Participating in testing controls as per requirement of Account Ownership and Reconciliation Policy (AOR policy) and other Finance polices to ensure they are being complied.
Ensure TBs are sent to branches on the first working day of each month for branch GLs reconciliations.
Prepare and review IFRS 16 model and ensure proper journals are posted to align between the general ledger and the model.
Ensure periodic analytical review of all accounts allocated to him/her as per AOR policy requirement.
Ensure that month-end balances are accurately recorded within the Consigno system, and that all responsible individuals are promptly followed up to secure timely attestation.
Ensure active participation in finance risk forums with group counterparties and provide all necessary support to facilitate effective discussions and outcomes.
Ensure that all items outside the SLA are properly escalated, and that appropriate engagements are initiated to facilitate timely resolution.
Check that house accounts are well prepared and reviewed. House accounts include a set of recurring assets and liabilities grouped together, for example the bank's sundry creditors.
Ensure that provisions are proposed in a timely manner whenever applicable.
SERVICE MANAGEMENT (20%)
Monitor & ensure that the number of outstanding exceptional items is reduced.
Liaise with team members to implement change initiatives which will positively affect Reconciliation processes.
Review the reconciliation submitted from accounts owners and prepare tracker to monitor issues identified and ensure they are being resolved as guided by AOR policy.
Follow up to ensure all accounts owners submit their Account ownership and reconciliation attestation at Head office Finance for records.
Deal with shortcomings (relating to internal accounts) e.g resolving problems that have been found on Head office accounts or branch reconciliation.
Ensure that corrective action has been taken on exceptional items.
Participate in the Balance sheet Review committee and follow up to ensure all issues identified are tracked and resolved.
Responsible for recording minutes of the Balance Sheet Review Committee and other finance-initiated governance forums and ensuring their timely circulation to all relevant stakeholders as guided by relevant policies and standards.
MANAGEMENT OF OPERATIONS RISK (15%)
Ensure that service level agreements is achieved.
Ensure prompt response to both internal and external customer queries.
Follow up exceptional items and liaise with business units to resolve outstanding items.
Responsible for reducing the number of outstanding exceptional items.
Management of risk controls and operations of reconciliations.
Develop and implement plans to rectify shortfalls in service from the department in consultation with Reconciliation team.
PERFOMANCE MANAGEMENT (5%)
Develop and agree individual performance objective, standards and targets with team manager and team members.
Plan workflow with line manager and other members.
Be co-operative and flexible at all times.
Manage and report exception items in absence of the Team Leader.
Maintain good working relations with other team members for smooth running of the unit.
TECHNICAL SKILLS/ COMPETENCIES
Service Delivery – critical
Stakeholder management
Personal and interpersonal effectiveness
Delivery Management/Drive for results
Team building/player
Business Awareness
Risk management – identifying risk related to reconciliation and how to mitigate them.
Innovative problem solving – ability to challenge the status quo and drive change in behaviors.
KNOWLEDGE, EXPERTISE AND EXPERIENCE
Essential
Computer Literacy - Word, Excel & PowerPoint.
Fluent in English.
Education and Experience required
Degree in accounting or finance.
Professional accounting qualifications such as CPA(T) or ACCA or CA.
Seasoned finance professional with 3+ years’ experience in Finance in the banking sector.
Experience in a dynamic complex multi-disciplined business environment where change is constant and demanding.
Stakeholder / customer relationship management experience.
General understanding of legislation that impacts on Banks & Financial Institutions in Tanzania.
Qualifications
Analytical Thinking - Basic (Meets all of the requirements), Bachelor`s Degrees and Advanced Diplomas - Finance, Digital familiarity (Meets some of the requirements and would need further development), Enabling team success (Meets some of the requirements and would need further development), Ethics and values (Meets all of the requirements), Financial Administration (Meets all of the requirements), Financial Experience, Openness to change (Meets some of the requirements and would need further development), Quality orientation (Meets all of the requirements)
