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Head of Finance at Development Bank of Kenya

JobWebKenya

Accounting, Auditing & Finance

KES Confidential
New
1 week ago

Job Summary

 

Job Description/Requirements

Job Description

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Development Bank of Kenya Ltd. is a banking company based out of Loita Street, Nairobi, Nairobi, Kenya.

Job Purpose

This position ensures the Bank operates in the most efficient and effective manner through provision of timely and accurate financial information for decision making, establishment and maintenance of an internal control system of financial information management that ensures/ assures the integrity of financial information of the Bank as well as safeguarding the bank’s business and its assets, compliance with both statutory and regulatory requirements in accordance with International Financial Reporting Standards, the Banking Act, Prudential Guidelines, the companies Act, the income tax Act and other applicable laws.

Key Duties and Responsibilities

Implement the strategic objectives of Bank as directed by the Chief Executive; Provide day-to-day leadership and management that mirrors the adopted vision and core values of the bank; Strategy Formulation- Mapping out and preparing the Bank’s financial plans both medium and long term, articulation of the overall goals and objectives and the strategies to achieve the same. Reporting: provision of accurate and timely reports as follows: Statutory Reports. These are reports that conform to International Financial Reporting standards in all respects. Regulatory reports. Reports in line with prudential guidelines and the Banking Act, ranging from daily, monthly, quarterly and annual audited reports. Management reports. Generation of various reports to both management and the board such as profit and loss, balance sheet and liquidity reports. These are both standard management reports and on a need basis reports. Taxation requirements. These includes various tax computation in line with taxation law, filing on time, accurate returns and responding to tax enquiries. Budget preparation – Preparation of various budgets required for short term (up to one year) planning. Managing the accounting function. Managing the department that processes the accounting information of the Bank as well as creation of strong internal control systems i.e. developing and implementing a coherent, comprehensive, effective and efficient systems of controls and procedures to safeguard the banks business as well as its assets. Fund mobilization- Put in place strategies that guide the bank on sourcing of long- term lines of credit and wholesale deposits for on lending. Monitoring performance, growth and profitability management- Managing the bank’s growth and profitability trends through analysis and evaluation of various opportunities to the bank and advising the Board of Directors on those projects with the potential of eventually increasing shareholders’ value. Cost management-This is achieved through professional guidance on procurement of services and goods in a way that cost leakages are minimized in order to ensure that the bank attains maximum value for its resources. Administrative Function such as Bank’s facilities management, procurement, management of the Bank’s payroll system and fixed assets management Coordination of the various external audits and inspections. These include Statutory Audits, Central Bank inspections and KRA audits. Ensure compliance with Public Financial Management Act, International Public Sector Accounting Standards (IPSAS) and the International Financial Reporting Standards (IFRS), ISO Standards and applicable directives received from the Executive arm of Government; Measure the effectiveness of all processes internal and external, and providing timely, accurate and complete reports on the operating condition of the bank; Overseeing the management and administration of budgets, whilst forecasting additional resources and recommending adjustments as necessary; Co-ordinating the implementation of key organization transformation projects designated to Finance division; Assessing and managing the principal risks of the operations (proposals, projects and staffing); Review, develop and execute the finance business plans in line with the overall strategic objectives; Oversee the finance function, ensuring proper management of financial affairs and advising the bank on financial planning strategies and policies; monitoring the budget; and ensuring that annual financial statements are prepared on time; Safeguarding financial resources of the bank Adhere to all statutory and regulatory requirements Undertaking any other duties as may be assigned from time to time.

Qualifications, Skills and Experience for Appointment

For appointment to this grade, a candidate must have:

Bachelor’s degree in any of the following disciplines: Finance, Commerce (Accounting/Finance Option), Business Administration (Accounting/Finance Option), or equivalent qualification from a recognized Institution. Master’s degree in any of the following disciplines: Finance Accounting, Commerce, Business Administration or equivalent qualifications from a recognized institution is an added advantage; At least twelve years’ relevant work experience, five of which must have been in a senior management role; Professional qualifications i.e. Certified Public Accountants of Kenya (CPA-K), or any other. Excellent project management skills Member of professional body in good standing; Leadership courses from recognised institutions; Member of a professional body recognized in Kenya; A very good understanding of Accounting standard A thorough understanding of the Banking Act and prudential guidelines A thorough understanding of Taxation laws in place Knowledge of the required accounting software is a must. A good understanding of business law and Banking law Meets the provision of chapter six of the Constitution

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