Vacancies 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

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Job Purpose:

Responsible for the preparation and continuous improvement of Group and Bank financial statements and integrated annual reports. Provide technical guidance as per CBK prudential guidelines and IFRS alignment for banks and all subsidiaries.

Key Responsibilities:

Financial 70%

• Management of relationship with Central Bank of Kenya and ensure compliance with CBK prudential guidelines.
• Review of Central Bank returns prepared by finance.
• Management of Annual & quarterly external audit process.
• Preparation of Audited Financial Statements and accompanying notes cause review by the external auditors
• Preparation of unaudited quarterly financial statements and cause review by the external auditors
• Preparation of monthly management accounts and other supporting analysis.
• Review of ALCO reports.
• Reconciliation of Treasury front office profit and loss account and monitor limits to ensure compliance with the policy and prudential guidelines
• IFRS 9 reports preparation and accounting thereof
• IFRS 16 review and accounting.
• Prepare and analyze financial reports, including balance sheets, income statements, Statement of changes in equity and cash flow statements.
• Develop and maintain financial reporting systems and processes and/or tracker.
• Monitor financial reporting requirements and ensure compliance with accounting standards and regulations

Operational & Sustainability 15%

• Maintain financial reporting framework that follows Internal Financial Reporting Standards (IFRS) and Prudential Guidelines
• Provide useful financial information to external users, such as investors, creditors, and regulators, for decision-making purposes.
• It aims to offer insights into a company's financial performance, position, and cash flows, ensuring transparency and accountability
• Ensure the bank and its subsidiaries are well provisioned for all liabilities.
• Sensitivity analysis for all income and expenditure lines.
• Ensure the bank and the subsidiaries maintain a healthy Balance sheet.

Leadership 15%

• Provide leadership to the staff members under your leadership.
• Continuous staff coaching on core competencies
• Performance management.

Key Relationships:

Direct Reports to this Position:

• Manager – Financial Reporting
• Manager-Treasury Middle Office
• Assistant Manager-Management Reporting

Customers of this Position:

• Central Bank of Kenya
• External Auditors
• Head of Finance
• Chief Finance Officer
• Kenya Deposit Insurance Corporation
• Treasury

Knowledge; Skills and Experience required for this Role:

Job Knowledge

• Knowledge of International Financial Reporting Standards
• Knowledge of Central Bank of Kenya Prudential Guidelines
• Basic Banking principles and practices
• Best industry reporting practices

Experience and Education.

• Minimum fifteen years’ working experience of which at least five years should be in Financial Reporting/Data analytics, financial controls or financial institutions audit (internal or external)
• A bachelor’s degree in business related field
• Master’s degree in business related field will be an added advantage
• Professional qualification; CPA-K, ACCA
• Member of professional accounting body

Competencies required for this Role

• Analytical skills
• Appetite for details
• Leadership skills
• High level of accuracy and concentration
• Good interpersonal skills