This role focuses on ensuring the accuracy, compliance, and integrity of the Sundry GLs and Internal Accounts from a financial reporting perspective. The incumbent will perform monthly variance analysis, manage escalation and exception processes, critically review Sundry Accounts to minimize financial risks, and oversee key financial and internal control functions.
Key Performance Indicators (KPIs):
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Accuracy:
- Timely and accurate completion of monthly variance analysis and Sundry Account reports.
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Risk Management:
- Effective identification, escalation, and resolution of exceptions or anomalies.
- Reduction of financial risks or discrepancies in Sundry GLs and Internal Accounts.
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Compliance:
- Adherence to IFRS, internal control standards, and relevant guidelines.
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Process Efficiency:
- Implementation of process improvements leading to enhanced control and reporting accuracy.
Education:
- Chartered Accountant (CA), ACCA, CPA, or equivalent qualification is required.
Experience:
- Minimum 7 to 8 years of experience in financial reporting, accounting, or internal controls, with a preference for experience in the banking or financial services sector.
- Proven track record in managing General Ledger accounts, variance analysis, and financial controls in a large organization.
Technical Skills:
- Strong knowledge of IFRS and regulatory reporting standards applicable to the banking sector.
- Expertise in financial analysis, reconciliations, and exception management.
- Proficiency in using core banking systems, accounting software, and advanced Excel tools.
- Knowledge of internal controls over financial reporting (ICFR)
1. Sundry GLs and Internal Accounts Management:
- Conduct periodic reviews of Sundry GLs and Internal Accounts, ensuring accuracy, completeness, and compliance with accounting standards and internal policies.
- Critically analyze account balances to detect and address discrepancies, anomalies, or exceptions.
- Proactively escalate unresolved exceptions and risks to senior management with actionable solutions.
- Prepare and submit periodic Sundry Account reports, providing detailed insights, variance explanations, and recommendations for improvement.
- Develop and implement frameworks to minimize financial risks or potential losses related to Sundry Accounts.
2. Monthly Variance Analysis, Escalation, and Exception Management:
- Perform comprehensive monthly variance analysis for Sundry GLs and Internal Accounts, ensuring timely identification of deviations from expected performance.
- Prepare detailed variance reports for internal use and regulatory reporting, highlighting key observations and trends.
- Manage the end-to-end escalation process for exceptions, ensuring prompt resolution and clear communication with stakeholders.
3. Financial and Internal Controls Management:
- Oversee critical financial control functions, including:
- Monitoring and rectification of reverse balances, abnormal balances, and mismatch balances.
- Reconciliation and review of GL subsidiary accounts to maintain data accuracy.
- Ensuring adherence to internal controls over financial reporting (ICFR).
- Conduct periodic reviews of internal controls to ensure compliance with IFRS, regulatory guidelines, and organizational policies.
- Proactively recommend improvements to enhance the control environment and address gaps.
4. Stakeholder Collaboration and Coordination:
- Liaise with external auditors to ensure timely resolution of audit queries and effective communication of financial information.
- Collaborate with internal teams, including operations and business to gather data, address variances, and support disclosures.
- Act as the primary point of contact for financial reporting issues related to Sundry GLs and Internal Accounts.
5. Governance and Continuous Improvement:
- Develop, document, and maintain policies, procedures, and controls for managing Sundry GLs and Internal Accounts.
- Stay informed of regulatory and industry developments affecting financial reporting and implement necessary changes.
- Drive process improvements to enhance the efficiency and accuracy of Sundry GL management and reporting.
