Accountant - Financial Reporting & Revenue Assurance at Old Mutual Kenya

Job Description

• Reporting and Financial Accounting, preparation of monthly, quarterly, and annual financial & regulatory reports and Revenue assurance reviews.

Key measurable goals

• Regulatory reporting accuracy and reporting. Computation of Loan loss provision under IFRS-9 standard. Financial reporting accuracy and reporting System related reviews and integrations General ledger maintenance including reconciliations-systems data Tax reconciliation, assessment, and Payments.

Revenue assurance

• Daily completion of revenue Assurance Process as per the Bank policy and Revenue assurance Checklist.
• Daily T24 General Ledger integration to D365 financial reporting system.
•  Insights into Bank Revenue and improvements
•  Raising Internal control Issues in bank revenue management
•  Continuous Monitoring of Bank Revenue
•  Revenue data analysis for error and fraud detection
•  Revenue leakage root cause Analysis
•  Application of data analytics in bank revenue assurance

Key responsibilities

Regulatory Reporting- CBK

• Preparation and submission of all regulatory reports
• Liquidity Returns
• Monthly & quarterly returns (BSM, Liquidity, Provisioning).
• Annual audited returns.
• Any other ad hoc CBK reports

Financial Reporting.

• Preparation of periodic business performance reports
• Monthly financial statements (Income Statement, Balance Sheet, etc).
• monthly branch & regional reports. Group (Old Mutual) reports.
• Business segments performance.
• Preparation of Board, EXCO/monthly business performance presentations.
• Support in facilitation of internal & External Audit as per the agreed timelines.
• Assist in the computation of IFRS-16 Lease entries

IFRS-9 Model.

• Calculation of the Bank’s loan loss provisions and Non-banking impairments in line with IFRS 9 requirements 
• Assist in ensuring smooth running of the IFRS9 Operating Model and Governance process. 
• Assist in ensuring the IFRS9 Operating Model is reviewed and improved on a continuous manner 

Taxation

• Assist in computations of monthly tax obligations (Withholding tax, Excise duty & corporate tax etc.)
• Filing of tax returns.
• Perform quarterly tax health check.

Revenue Assurance

• Revenue assurance self-assessments/audits.
• General ledger reviews and mapping of T24 to D365
• Daily checks of incomes and Expenses accruals
• T24 integrations.
• New products set up in Business systems.
• Revenue optimization initiatives implementation
• Daily & Monthly checks of interest rates, fees and charges to ensure they are captured correctly.
• Ensuring compliance to revenue assurance control measures.
• Review of any possible revenue leakage/Exposure and advise the management
• Revenue Data Analysis for Error and Fraud Detection
• Revenue Leakage Root Cause Analysis
• Application of Data analytics in Bank Revenue Assurance
• Recovering Revenue Leakages
• Review of Digi cash Transaction
• Review of Digi Loan Listing and recovery of Charges
• Follow up and closure of revenue Gaps/Leakages
• Checking Revenue against product Facts with an update on MEMOS shared on change of product.

Finance Controls

• Completion Balance sheet substantiation
• Adherence to DCT controls
• Financial Analytic Reviews
• Proper reconciliation of assigned GL accounts.

Others

• Support in both external and internal Audits and Regulatory inspections
• Assist of preparation of Ad-hoc or special purpose management reports
• Management of UAP Loan interest and Repayments
• Daily Liquidity Report
• T24 data reviews against interfaced systems
• Daily monitoring of the T24 GL imbalances and processing of corrections
• Branch Support on manual computations from client’s queries
• Processing of Loan waivers
• Review of EDC payments.

Supervision and Relationships

Staff Reporting Directly to the Job Holder

• None

Relationships

• Senior Accountant/Accountants – Finance Operations & Treasury.
• Manager Business Information & Innovation.

Education

• Degree in Business related Studies and/or
• CPA (K) /ACC
• CFA/CPAK

Knowledge and Skills

• Financial Management
• Reporting writing skills
• Proficiency in Information and computer applications and packages
• Leadership Skills

Experience

• At least 2 years working experience in banking/ financial institution or 1 year as an Assistant Accountant in Financial Reporting.
• Budget and financial planning.

Personal Attributes

• Demonstrate management abilities.
• Analytical
• Confident
• Integrity
• Diligent
• Attention to detail.
• Accuracy
• Reliability and Speed

Physical demands

• None

Skills

• Analytical Thinking, Banking, External Audit, Financial Accounting, Financial Analysis and Reporting, Financial Management, Financial Management Reporting, Financial Statements, General Ledger (GL), Income Statements, International Financial Reporting Standards (IFRS), Management Reporting, Reconciliations, Regulatory Reporting

Education

• Bachelor Of Business: Accounting Finance (Required)