Objectives
To ensure that:
The system of internal control around banks and General Ledger reconciliation is adequate, effective and functioning properly.
Internal control around the bank accounting activities of the Bank Group is effective by ensuring that the financial transactions reported on the bank accounts are properly and accurately recorded in the appropriate accounting period.
Financial reports of the banking activities of the Bank Group are timely and accurate.
Reconciliation and clearance of all suspense and receivable/payable accounts in the general ledger are carried out properly and in a timely manner.
Duties and responsibilities
Under the supervision of the Division Manager, FFCO.1, the incumbent will carry out the following functions:
1. Bank Reconciliation.
Provide input for technical accounting and policy guidelines on system implementation projects in the area of bank accounts and the reporting of due from banks in the financial statements
Provide input and assistance for internal and external audit of bank accounts.
Investigate and follow up on all outstanding items on bank reconciliation statements with responsible persons and Organization Units.
Analytically identify old and irrecoverable amounts on bank reconciliation and advise how best to resolve them.
Ensure accurate and timely reconciliation of banking transactions for all the bank accounts maintained by the Bank Group and Trust Funds.
Provide monthly summary of bank reconciliations and control weaknesses for review by Management
Verify the reliability and accuracy of bank balances in the general ledger and trial balance
Carry out daily reconciliation of bank accounts.
In liaison with Treasury department (FTRY), ensure that adequate internal controls are maintained in the opening and closing of new and old bank accounts.
In liaison with other data entry personnel, improve the internal control environment related to Bank accounts and transactions.
2. Analysis and Reconciliation of General Ledger Accounts
Investigate and ensure reconciliation and clearance of bank related transit suspense / accounts
Ensure reconciliation of all inter-institution accounts for the Bank Group and bilateral funds.
Give instructions for the settlement of ail inter-institution receivables and payables for the Bank Group and bilateral funds.
Liaise with other sections in financial control department (FFCO) for the clearance of items on inter-institutions accounts.
3. Preparation of Analytics and Reports Preparation of analytical reports showing trends on degradation of the bank account outstanding items Preparation of Bank reconciliation reports for use by Section Heads and other colleagues.
Other Duties
Participate actively in the preparation of the monthly and quarterly financial statements and other financial reports that require bank account information.
Participate in the overall evaluation of internal control around banking activities.
Carry out other duties as may be allocated by the Supervisor or Division Manager.
Selection Criteria
Including desirable skills, knowledge and experience
At least a first degree in Accounting, Finance, Audit, Business Administration, or Banking. A master’s degree in finance, accounting or business administration will be an added advantage.
At least four (4)years of relevant experience;
Competence in the use of standard software applications (Word, Excel, Access and PowerPoint, SAP);
Ability to communicate and write effectively in French and/or English, with good working knowledge of English;
Excellent Customer service record.
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