Job Description
JOB PURPOSE
The Senior Officer, Payments and Tax, contributes to a team responsible for providing a comprehensive payments service on behalf of Sidian Bank.
KEY RESPONSIBILITIES AND ACTIVITIES
Financial Management
• Ensure accrual of all expenses are processed before end of month
• Ensure reversal of all accrued expenses are processed after receipt of the actual invoices
• Prepare various schedules for analysis on need basis. E.g. Rent schedules of amount and taxes paid to a supplier
• Undertake end of month procedures which includes preparation of Head office expense and balance sheet schedules for review by management.
• Ensure proper posting of fixed assets.
• Ensure correct and accurate posting to the bank ledgers and branches for correct costing.
• Ensure remittance of suppliers information as required by KRA and filing of returns to KRA as per the law.
Payments:
• Ensure timely and accurate payment and filling of all taxes on itax and other statutory payments as per the laid down requirements.
• Provide a full processing facility for the Bank, ensuring all internal and external payments are processed accurately and in a timely manner, complying with all appropriate procedures and laws of the land.
• Receive, confirm and verify payments, ensuring all payments are processed promptly & accurately and that appropriate procedures and approvals have been complied with before processing any payment.
• Correct posting of the payroll entries between the payroll system and the T24 system.
• Correct processing of staff exit final dues as per the HR guidelines
• Assisting in the processing of payroll and all payroll related activities
Record Management
• Ensure all appropriate paperwork is available and properly authorized and which can be easily accessed for queries, tax and audit purposes.
• Ensure accurate and safe archiving of all vouchers in the department on a daily basis.
• Ensure proper and accurate recording of all cheques issued and all RTGS remittance to Treasury.
Reporting:
• Provide explanations on variance analysis of all payments to branches and HO departments
• Preparation of Banc assurance management reports.
Reconciliation:
• Ensure reconciliation of the internal ledger accounts and the suppliers accounts
• Ensure proper reconciliation of Tax GL accounts
Compliance To policies, SLA’s and TAT’s
• Ensure timely payment of all contractual payments within the set timelines.
• 100% adherence to SLA between finance and all other functions
• Ensure that all duties and responsibilities are performed in accordance with all relevant Policies and Procedures including Financial Regulations, Standing Orders, HR Policies and Procedures, Health and Safety Policy etc.
• Ensure internal controls are adhered always.
• Ensure compliance and adherence to all changes in legislations especially on Tax matters.
• Comply with the various Service Level Agreements and customer service performance standards to ensure they are achieved in all areas.
Monitoring and Control:
• Evaluating, controlling and provision of funds to Branches. Funds to be used in the purchase of Groceries and Generator Fuel.
• Evaluate, control and provide relocation monies for recently transferred staff and travel expense for Field officers and Branch managers.
General Functions
• CSR participation and any finance related activities
• To train and mentor other junior staff in the department
• Undertake any other duties within the Finance Department, which may arise from time to time.
• To keep abreast of professional developments, legislative changes, tax matters and best practice, attending Continuing Professional Development courses as appropriate and applying updated knowledge to present work programmes, sharing information gathered on courses, including providing training for other staff as required.
• Liaise internally with all departments and externally with suppliers, lenders, landlords, service providers and utility companies in respect of issues pertaining to the payments.
• Liaise with procurement and logistics to: resolve invoice queries, resolve enquiries from external parties.
• Provide information to Shareholders, Statutory bodies, Audit queries and responding to questions by management concerning all aspects of payments.
• Imprest management of all staff in all branches.
• Mentoring of finance assistants
• Liaison with KRA or Tax auditors on any tax matters
KNOWLEDGE, SKILLS & EXPERIENCE
• At least three-year experience in a busy Finance office
• Business Related Degree
• CPA /ACCA Finalist-any other relevant professional qualification.
• Analytical
• Team Leadership Skills