Assistant Manager, Tax & Fixed Assets at SBM Bank

Job Purpose

• Management of day-to-day tax returns, tax computations & payments.
• Support the tax manager in advising the bank on all tax & statutory obligations of the bank & its subsidiaries.
• Accounting for fixed and intangible assets.

Key Responsibilities

Tax - 60%

• Perform I-Tax gateway reconciliations, payments, and remit cash to the CBK within the stipulated timelines (T+2).
• Review all invoices monthly to ensure relevant taxes are correctly deducted and remitted.
• Conduct monthly reconciliations of all tax ledgers and investigate or resolve any variances.
• Reconcile withholding tax on Interest monthly and document all variances/supporting documents.
• Reconcile excise duty payments on a monthly/annual basis and align the same to published accounts and audited financial statements.
• Reconcile all telegraphic transfers (TTs) monthly to ensure withholding tax on foreign payments and Reverse Charge VAT are properly accounted for in line with applicable tax laws.
• Ensure 100% compliance with all tax remittance and filing obligations (returns and payments) by the statutory due dates. Tax obligations include VAT, Excise Duty, Withholding Tax, Stamp Duty, Advance Tax, and PAYE.
• Ensure all banks’ products & services are tax compliant to ensure nil penalties and nil revenue leakage.
• Maintain a sound understanding of financial and operational implications of tax laws and ensure full compliance.
• Ensure complete documentation and secure storage of all supporting evidence and proof of tax remittance. Provide timely support and information during internal, external, or KRA audits.
• Manage tax operations effectively to ensure zero revenue leakage and full compliance.
• Manage and monitor all audits relating to tax by internal audit, external consultants and Kenya Revenue Authority

Fixed Assets - 30%

• Accounting for fixed assets from purchase, capitalization, depreciation and sale/write off.
• Preparation of monthly assets movement schedules and audit support.
• Key contact person for internal and external auditors in relation to fixed assets & intangible assets.
• Preparation of financial notes in the audited financial statements.
• Coordination of asset verification exercise as per finance policy.
• Quarterly review of branch assets registers and accounting for any movements or disposals.
• Constant monitoring of teammate audit items and timely closure of the open audit items.
• Snap checks on branches to ensure no obsolete/idle assets are repatriated to head office.
• Mombasa building accounting for rent.

Customer management - 10%

• Alternate key contact person for all tax issues
• Tax Support for internal teams (departments and branches)
• First line response to KRA, internal & external auditors.
• Being proactive in resolving queries to protect the banks’ brand.

Customers of this Position

• Kenya Revenue Authority
• Suppliers
• Internal & External auditors
• Branches & other departments

Knowledge; Skills and Experience required for this Role Job Knowledge

• Bachelor’s degree in taxation or accounting required.
• 5 years' experience in a busy finance department
• Professional qualification in CPA (K).
• Ability to prioritize and manage time efficiently.
• Good customer service skills
• Strong analytical and problem-solving skills
• Keen to details.
• Proactive in providing solutions.

Competencies required for this Role

• Adhering to principles and values
• Reporting and Analysis
• Good communication skills
• Good interpersonal relationship
• Delivering Results and Meeting Customer Expectation
• Planning and Organizing
• Team player