Website Sumac Microfinance Bank
Sumac Microfinance Bank Ltd is a Microfinance institution based in Kenya, with branches all over the country. We are a fully fledged bank that is regulated by the Central Bank of Kenya to take deposits and to provide credit to customers Sumac Microfinance Bank Ltd is a bank that is duly licensed … read moreand regulated by the Central Bank of Kenya and has been on the banking scene for the past 18 years. The bank is one of the most-profitable microfinance institutions in Kenya, and boasts of an asset base of about Ksh3 billion, with an active loan book and deposits from loyal clients. Over the years, Sumac Microfinance Bank Ltd has developed a broad range of product offerings which include various accounts, loan products, Forex, Trade Finance and Bancassurance. In 2018, Sumac was Awarded at the Annual Think Business Banking Awards as the 2nd Fastest-Growing Microfinance Bank in Kenya. We will pursue an open door policy and communicate all relevant information to stakeholders without prejudice.
About the Role
The job holder will be responsible for maintaining accurate and timely original accounting entries and records while delivering high quality client service to internal and external customers while ensuring adherence to policies and procedures in all accounting processes.
Key Responsibilities:
Ownership of all the General Ledger accounts ensuring that they are reconciled at all times.
Preparation of bi-monthly bank reconciliations through the core banking system
Maintaining fixed assets register modules through the core banking system
Proposing and implementing of revised finance and procurement policies
Implementation of other system upgrade areas affecting accounts operations and reporting
Accurate and timely posting of entries while ensuring data integrity into the core banking system
Correct matching of all accounting entries to their budgeted cost and revenue centers
Timely accrual of all costs and revenues
Timely payments of suppliers and customer payment requests while verifying documentation
Timely settlement of statutory obligations such as taxes and loan obligations
Filing of statutory reports to regulators by the set statutory deadlines
Manage cashflows at bank level and ensure adequacy at all times
Accurate and timely preparation of monthly and annual accounts namely balance sheet, profit and loss statement and other reports in adherence to relevant IFRS
Provide oversight on overall adherence to budget
Proactive cost management on OPEX
Responsible for payroll reconciliation after postings
Provide guidance to onboard, train, set targets and manage the performance of staff reporting to you to ensure the achievement of their set targets.
Act as an agent of the bank
Timely treasury replenishment across all branches upon request
Reconcile financial discrepancies by collecting and analyzing account information.
Any other duties delegated by the supervisor from time to time
Qualifications and Technical Competencies
University degree in either Finance/Accounting/Economics or Business Admin.
CPA (K) or ACCA Finalist. A master’s Degree will be an added advantage
3 years working experience in a similar position in the banking industry preferably a regulated Microfinance Bank.
Ability to work under pressure and manage time efficiently
Ability to solve complex problems and make decisions effectively
Good time management
Respect for peers
Confidentiality
A team player
Assertiveness and self-drive
Honesty, reliability and dependability
Good interpersonal skills
Good communication skills
Analytical skills
Speed and accuracy
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