Financial Control Manager at Development Bank of Rwanda (BRD): (Deadline 7 July 2023)

1. Background Information

Job Title: Manager, Financial Control

Job Level: JG 5

Division/ Department: Finance

Reporting to: Chief Finance Officer

Direct Reports:

• Officer, Financial Accountant
• Officer, Financial Reporting
• Officer, Reconciliation and Tax
• Officer, Trade Finance

Indirect Reports:

N/A

2. Contract Terms – Open Ended

3. Purpose of the Job

The purpose of the job is to provide oversight on all aspects of financial management, development and enforcement of internal accounting policies and procedures.

4. Main Responsibilities of the Job

• Provide input into the development of the finance strategy, ensuring the enhancement of  the internal controls required to deliver the BRD overall strategy
• Develop and implement internal control policies and procedures to guide operations on finance department
• Develop and document business processes and accounting policies to maintain and strengthen internal controls
• Review and recommend action on proposed and approved legislation and regulations related to Finance
• Providing accurate and timely Bank’s Financial records by managing the accounting function
• Monitor the Bank’s financial data to ensure compliance with accounting standards, as well as pertinent laws, policies and procedures
• Review and verify periodic (monthly/quarterly and yearly) regulatory reports to ensure alignment with the required standards and local regulations
• Maintain and ensure completeness and accuracy books of accounts, and proper maintenance of audit trails for accurate reporting.
• Facilitate preparation of periodic external audits (quarterly/yearly) of financial statements to ensure auditors are provided with relevant documents and information on time
• Review and verify monthly tax computations and returns to ensure accurate payments are made timely
• Review of the Bank’s reconciliations for Nostro and Internal Accounts
• Administer the process of offering bank’s trade finance facilities (currently Letters of credit, guarantees and any other trade finance product) to ensure they are accurately and timely opened with relevant banks and followed up until executed.
• Supervise the processing of accounts payable and non-cash accounting entries to ensure accuracy and compliance
• Validate outgoing payments for their accuracy, correctness and completeness of necessary documents and reporting on them
• Coordinate timely and accurate financial accounting to facilitate timely financial reporting
• Supervise the processing of Projects financial information in accordance with project agreements with the Fund providers.
• Ensure the review of Electronic Data warehouse reporting to the Central Bank and ensure they are  accurate and timely reported
• Ensure all the regulatory reports to the Central Bank are accurate and timely sent.
• Ensure that the financial statements are prepared in accordance with the International Financial reporting Standards
• Ability to make financial projections on the Bank’s implementation of the Strategic plan.

5. Performance indicators

• Availability of internal accounting policies and procedures
• Correct postings of accounting entries to relevant journals
• Correct expense and payables approvals
• 100% expenses settlements
• Timely submission of accounting data and reconciliations
• Compliance to International Financial Reporting Standards
• Compliance to requirements of the regulators
• Management of Internal and External auditors
• Proper Management of Trade Finance transactions with Correspondent Banks.

6. Working relationships

• Heads of department
• External stakeholders
• Banks
• Auditors

7. Professional, academic qualifications and experience

a)  Master’s degree in a relevant field from a recognized university as an added advantage

b)  Bachelor’s degree in accounting, Finance, Commerce, Business Administration/ or related field

c)  Association of Charted Certified Accountant (ACCA)/Certified Public Accountant (CPA)

d)  A minimum of five (5) years’ experience working in a commercial bank or similar institution of which two (2) at a Senior or managerial level

8. Core competencies

• Experience in implementing financial strategies, policies and procedures
• Knowledge of Cost accounting and Reporting
• Knowledge of Risk Analysis, Budgeting and Forecasting
• Experience in Financial and Management Accounting
• Debit and Credit management experience
• Cashflow management
• Reconciliations of Financial records
• Experience using accounting systems
• Knowledge of International Financial Reporting Standards and GAAP
• Experience in Financial Information Management
• Knowledge of Tax legislation
• Experience with reviewing financial statements and Integrated reporting
• Experience with general ledger functions and the month-end/year end close process
• Ability to adapt to the Core Banking software and other IT systems
• Ability to provide financial modelling