I&M Bank Accounts Payables & Financial Reporting Officer Job
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I&M Bank Accounts Payables & Financial Reporting Officer Job
Accounts Payables & Financial Reporting Officer Job, Current Accounting Jobs In Kenya,
Job Purpose
- The role is responsible for ensuring all short-term liabilities are properly recorded and 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 is the custodian of the bank’s asset register.
Key Responsibilities
- Process invoices and payment 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 unit’s cost share.
- Determine whether treatment for Withholding tax and reverse VAT is correct and in line with Double Tax Treaties (DTT) where applicable; confirm the accuracy of computation of gross-up and reverse taxes where applicable;
- Investigates and resolves problems associated with the 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 and recover 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 PRNs.
- Pay all amounts as per approved PRNs.
- 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 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 undertakings.
- Implementation of audit findings to improve processes and close 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 exercises every quarter.
- Update the asset register with relevant asset tags (after tagging newly acquired assets) information as well as additional assets on a month-to-month basis.
- Support reporting teams with information regarding the asset register.
- Prepare monthly and quarterly movement fixed asset movement schedules.
Qualifications
Bachelors Degree & CPA /ACCA. Professional qualification is sufficient and a bachelor’s degree is not necessarily required.
At least a year of 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
How To Apply
Apply before or on 22nd December 2023.
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