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Officer, Payments (Incoming TT & RTGS, Outgoing TT & RTGS, Enquiries)
- The role is responsible for ensuring all short-term liabilities are properly recorded and properly paid, compliant with IFRS & tax legislation and internal guidelines.
- It serves as a key function for cost management and budget management and oversight, vendor support, and being the custodian of bank’s asset register.
Bachelors Degree & CPA /ACCA. A Professional qualification is sufficient and a Bachelors degree is not necessarily required.
At least a year relevant experience.
- Proficient with excel based work and formula-based presentation
- Versed with key accounting and tax policy and legislation
- Good analytical skills and attention to detail
- Sound accounting / finance knowledge
- Good communication and interpersonal skills
- Good planning and organization skills
- Process invoices and payments requests within set TAT/SLA guidelines.
- Ensure accurate posting of invoices and correct tax treatments;
- Perform day to day financial transactions, including classifying, and recording accounts payable and fixed asset data;
- Allocation of costs to correct cost centers to facilitate proportionate distribution of costs to reflect each units cost share.
- Determine whether treatment for Withholding tax and reverse VAT is correct and in line with Double Tax Treaties (DTT) where applicable; confirm accuracy of computation of gross up and reverse taxes where applicable;
- Investigates and resolves problems associated with processing of invoices and purchase orders on the P2P system;
- Verify and investigate discrepancies, if any, by reconciling monthly vendor statements.
- Receives, researches and resolves a variety of routine internal and external inquiries concerning account/payment status, including communicating the resolution of discrepancies to appropriate persons.
- Advocate for usage of DTTs and tax beneficial structures to save the Bank and Group costs.
- Reconcile the accounts payable ledger to ensure that all accruals for month end reporting for potential billable expenses are accounted for and properly posted. Provisioning and reconciliation of monthly accruals schedules to reflect all outstanding liabilities.
- Process recharge invoices and inter-company payments for subsidiaries as well as recovery of amounts to be reimbursed as and when they fall due.
- Update debtor’s schedules to reflect their most current outstanding position.
- Retrieve necessary documentation to provide support/proof of expenditure to facilitate payments.
- Amortize prepayments through SI’s and bulk uploads and prepare a listing of outstanding assets.
- Systematically retrieve all tax schedules and undertake end to end preparation of all monthly tax obligations.
- Submit all relevant tax obligations and generate PRN’s.
- Pay all amounts as per approved PRN’s.
- Participate in timely retrieval and availing of financial records to both internal and external audit teams to ensure they accurately and properly meet their assigned responsibilities.
- Assist in the preparation of daily reports such as the GL, Liquidity, SOC etc. for the use by GED and Senior Management.
- Engage audit teams in providing required clarification to enhance understanding and interpretation of procedures, guidelines and policies underpinning various undertaking.
- Implementation of audit findings for improvement of processes and closure of possible gaps.
- Prepare Board Procurement Committee paper and any other ad-hoc reports for management review.
- Book all acquired assets appropriately in the GL and Asset register.
- Capitalize various project costs upon approval in accordance with IFRS requirements.
- Ensure depreciation of all assets as per policy and reconciliation of any variances with the general ledger.
- Write off approved disposed/donated assets from the asset register and pass relevant entries.
- Perform asset verification exercise on a quarterly basis.
- Update the asset register with relevant asset tags (after tagging newly acquired assets) information as well as additional assets on month-to-month basis.
- Support reporting teams with information regarding the asset register.
- Prepare monthly and quarterly movement fixed asset movement schedules.
Bancassurance Business Development Officer
The Incumbent will report to the Bancassurance Business Development Manager and will be responsible for:
- Driving growth in Bancassurance business across the region/branch through new business acquisition, cross sells and upsells with a focus to Personal Banking, Premium Banking and MSME customer Segments.
- Execution of day-to-day insurance operations at branch level which entails sales, underwriting, policy documentation, claims documentation, facilitation premium payments etc.
- Following-up on customer insurance policy renewals to ensure desired business retention rations are achieved through timely contact and engagements with respective customers in personal, premium and MSME segments.
- Developing good business working relationships with branch manager, branch relationship officers & customer service officers to generate insurance business leads through their customers in Personal, Premium and MSME customer Segments.
- Ensuring customer inquiries are resolved promptly as per laid down policies and procedures.
- Championing Insurance products and all relevant business processes training at the branch level to sensitize branch staff on Bancassurance business
- Ensuring full compliance with all regulatory and internal procedures in relation to Bancassurance business.
- Ensuring all collaterals and assets which have Bank`s interest are properly and comprehensively insured and bank’s interest properly noted.
- Ensuring debt level is managed proactively and in line with the laid down Bancassurance Debt Policy and underwriting Guidelines.
- Checking and verifying the accuracy, completeness of the documents against checklists provided according to product lines; KYC/AML compliance requirements, in both underwriting and claims.
- Achieving budgeted cross sell on Insurance Premium Financing (IPF).
- Any other official duty that may be allocated by management from time to time.
- A holder of university degree from a recognized university in Insurance, Business, Finance, or other related business fields.
- Professional qualification in Insurance related field will also be an added advantage.
- Certificate of Proficiency (COP) in Insurance.
- At least two years active working experience in direct sales in a Bancassurance set up or Insurance company.
- Exposure to Bancassurance processes and procedures will be an added advantage.
Key Competencies and Attributes:
- Good interpersonal skills and ability to establish new client relationships and generate new and cross sell business.
- Excellent understanding of Insurance products, underwriting processes, emerging market/industry trends and knowledge of bank processes and procedures.
- Proven ability to develop and maintain effective work relationships with internal and external partners.
- Team working skills with ability to deliver and exceed business targets.
- Excellent business development and client relationship management skills.
- Exposure to Insurance products in the bank set-up with knowledge of the Bank’s set standards, policies, and operating manual, with sound knowledge of bank products.