Officer, Accounts Payables & Financial Reporting at I&M Bank

Job Purpose

• 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.

Academic Qualifications

Bachelors Degree & CPA /ACCA. A Professional qualification is sufficient and a Bachelors degree is not necessarily required.

Work Experience

At least a year relevant experience.

Competencies

• 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

Key Responsibilities

• 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.