Manager, Finance at Sidian Bank

The purpose of the role is to support the Director, Finance & Strategy in managing the Finance function by preparation and review of CBK reports and reporting the same according to set prudential guidelines in a timely and accurate manner; preparation and review of Management & Statutory reports to Management, Board and third parties for analysis and decision making while ensuring compliance with statutory requirements and information is accurate and timely. The role acts as the custodian of the Bank’s General Ledger (GL) ensuring its integrity is maintained at all times and all required reconciliations and corrections are made in a timely manner.

KEY RESPONSIBILTIES

• Finance & Strategy Policy implementation
• Financial Reporting – CBK, Board, Management, Statutory reporting, DFI’s
• Financial Management – Expenditure, fixed assets management, audits & inspections
• Performance Monitoring & Tracking
• Reconciliations and GL integrity
• Payments and accounts payable management
• People management
• Risk & Compliance

MAIN ACTIVITIES:

Finance & Strategy Policy implementation

• Support the Director, Finance & Strategy in implementing Finance policies and procedures and ensure appreciation by all stakeholders and consequent adherence.
• Ensure that all Finance duties and responsibilities are performed in accordance with relevant Policies and Procedures including Financial Regulations, HR Policies and Procedures, Health and Safety Policy.
• Managing the Finance function of the bank to ensure it delivers on its mandate.

Financial Reporting – CBK, Board, Management, Statutory reporting, DFI’s

• Develop and implement systems for collating and analyzing financial and operational data to provide relevant management information and reports to specified stakeholders. This includes development and management of reporting calendar/schedules
• Ensure preparation and review of reports to Central bank of Kenya (CBK) that includes daily, monthly, quarterly, yearly reports and accounts to be published in the media, accurately and on a timely manner in accordance to set prudential guidelines.
• Liaison with other departments whose reports are required by CBK, (Credit/Operation/Business) and ensuring the same are remitted on time.
• Ensure CBK reports are accurately prepared in accordance with CBK guidelines and submitted within the set deadlines.
• Advise the Bank on any major changes in the prudential guidelines.
• Play a role in the efficient operation of the team, ensuring maximum flexibility to meet changing demands; prioritize work in order to deliver a high-quality frontline service.
• Lead and co-ordinate any CBK/management reporting related business
• Constants research on CBK prudential guidelines
• Liaison with CBK on any updates in regulatory requirements or any other matters affecting the bank.
• Preparing market analysis reports as and when required by CBK/filling out analysis questionnaires from different reporting bodies for their market analysis.
• Ensure that monthly and periodical financial reports are prepared accurately and circulated to all users within the agreed time frame. The reports include Management accounts, Board & shareholders reports, DFIs & Long-term financiers reports’ and performance analysis reports.
• Ensure the bank’s quarterly and annual accounts are prepared accurately and submitted to respective statutory regulatory bodies within the set deadlines.
• Preparation of the bank’s Annual report and Financial Statements.
• Providing periodical reports to Board, Shareholders, DFIs, UFAA, KDIC, and to other third parties i.e. financial analysts and associations who may be interested to know about the bank’s operations.

Financial Management – Expenditure, fixed assets management, audits & inspections

• Coordinates and ensures internal & external audits, due diligences and reviews are effectively undertaken.
• Ensure IFRS compliance of the bank’s financial statements including IFRS 16 & IFRS 9 application
• Preparing schedules for audit purposes, CBK inspection and KRA audits, Due diligences and any other reviews
• Oversee maintenance of the fixed asset register for the group
• Control operating expense through strict approval procedure for all amounts within prescribed limits. Monitor departmental expenses vis-à-vis budget on a monthly basis and follow-up negative variances.
• Collate and provide accurate information required by rating and lending agencies
• Liaise with KRA and tax consultants to resolve outstanding tax matters

 Performance Monitoring & Tracking

• Monitoring Treasury performance against targets as well as ensure effective Asset Liability Management working together with HOD.
• Consistently working with IT department to enhance internal MIS and reports for effective and efficient reporting
• Assist HOD to ensure Bank’s liquidity level is maintained within the stipulated limit by daily preparation of liquidity report.
• Preparation of Income analysis and analyzing variances that might have occurred and any decreases in income from various product categories and finding explanations and clarifying on the same. 

Reconciliation and GL integrity

• Acts as the custodian of the Bank’s General Ledger (GL) ensuring its integrity is maintained at all times and all corrections, reversals in the GL are appropriately approved and effected in line with the Finance Policy.
• Ensure all required reconciliations – bank & branch, are prepared in an accurate & timely manner.

Payments and accounts payable management

• Authorise expenditure request forms and payment approval within delegated authority limits.
• Ensure payments made to suppliers and staffs have the necessary supporting documentation and authorization in line with the Finance Policy
• Approval of cheques to suppliers as well as the cheques register.
• Ensuring safe custody of cheques used by payment as well as issuing cheques to COP for loan purposes and prompting re-order of the cheques when stocks are low.
• Approval of payment vouchers/RTGS payments/LPOs/IRs
• Supervise the Tax function to ensure the bank is tax compliant on all tax payments and filings.
• Ensure the Finance department complies with the various Service Level Agreements (SLAs) and Customer service performance standards to ensure they are achieved in all areas and with all other departments.

People management

• Set performance objectives for each member of the team in accordance with the Department’s overall objectives.
• Regularly review performance to trigger feedback and prompt actions to ensure objectives for individuals and team are met. Such actions include recognition of outstanding performance, taking corrective measures, which may include coaching, mentoring, training to develop new skills or attitudes.
• Carry out performance appraisals to provide overall assessment for a set period of performance in a manner that enhances motivation and performance improvements.
• Implement appropriate communication systems and forums which will ensure that: the staff will be kept informed of the Bank’s business direction, and obtain support and knowledge to perform duties effectively and there is on-going collaboration amongst the staff with other members of the Department, and with other relevant stakeholders in the Bank for the purpose of cultivating collective responsibility to achieve Bank’s business goals.
• Build strong relationships externally.

Risk & Compliance

• Comply with the banks Anti Money Laundering (AML) & Combating the Financing of Terrorism (CFT) policy as defined by CBK prudential guideline
• This role is regarded as the first line of defense, it has a primary responsibility for identifying, measuring, monitoring and controlling risks within their area of accountability. They are required to establish effective governance, risk and control framework for their business unit to ensure they are compliant with Sidian Bank’s risk policy requirements, to maintain appropriate risk management skills, methodology, frameworks and solutions. In addition, ensure they are operating within the risk appetite boundaries set and approved by the board
• Ensure that the bank does not transact business with persons whose names match those on the sanctions lists in the Finance day to day business
• Ensure that confidentiality and integrity of the Bank’s information is maintained at all times in line with cyber security and information security guidelines
• Ensuring adherence to the policies as defined in the IT security policy considering the disciplinary process that follows any violation
• Ensure responsibility for using personal data by following the data protection principles under the data protection act and make sure the information is used fairly, lawfully and transparently and used for specified, explicit purposes.
• Ensure compliance with all banks policies, procedures and all statutory requirements.

ACADEMIC BACKGROUND

• University Degree in Bachelor of commerce (Finance or Accounting) or other relevant Business Degree
• Master’s degree will be an added advantage

WORK EXPERIENCE

• Seven years’ experience post attainment of professional qualification, this includes four years’ experience in middle to senior management role in banking
• Experience working with IFRS

SKILLS & COMPETENCIES

Knowledge in:

• CBK prudential guideline and Banking Act
• Good understanding of IFRS requirements
• Management and Financial reporting
• Tax laws and regulations
• Strong analytical skills
• Good communication and engagement skills
• Interpersonal and Team management skills
• Practical experience in use of relevant MS office applications, especially Excel, Word and PowerPoint

PROFESSIONAL CERTIFICATION

• CPA (K), ACCA or equivalent professional qualification