JOB PURPOSE:
The purpose of this role is to perform all cost activities related to Personal & Private Banking segments. This includes all activities related to cost booking, cost review and analysis and cost reporting for Personal and private Banking Business divisions.
Role is also responsible for all accruals, amortizations, manual adjustments related to Financials, Business finance review and approvals of purchase requisitions within both business divisions.
Role also entails responsibilities related to management of accruals and amortizations related to divisions Income and cost.
KEY ACCOUNTABILITIES:
Accountability
- Responsible for reviewing all costs recognized to PL to ensure correct cost reporting. Maintain prudent cost booking structure to enable cost reporting.
- Review/analyze cost lines to identify major / unusual month on month movements, investigate and initiative corrective actions.
- Manage the divisions accruals process to ensure expenses and income are accrued in the respective periods in alignment with accounting standards thereby achieving accurate financials for the divisions.
- Management of all monthly manual adjustments as part of month end reviews and subsequent booking to Core systems.
- Review all purchase requisitions of the business, conduct business finance reviews on accounting and budget availability for these requests.
- Coordinate for new Chart of account requirement in line with reporting standards in coordination with GF and FTBS
Job Context
Specific Accountability
- Ensure cost booking are done to right responsibility centers. maintain the divisions cost booking structure to ensure business wise cost reporting and allocation.
- Review monthly cost reports line by line to identify the accuracy of cost booking. identify anomalies if any and initiate reversals or corrections
- Perform provision accounting process for all income and expenses of the division. review the monthly provision requirements. arrange for approvals and coordinate with TBO for posting of the same prior month end.
- Carry out amortization entries for key GL lines based on accounting standards
- Follow accounting calendar and coordinate with expenses booking units to ensure timely accruals for postings outside Finance.
- Carry out Month end review of divisions books to identify any anomalies
- Post manual adjustments for any exclusions or incorrect bookings as part of month end process. Post adjustment as per FR calendar in a timely manner
- Maintain records related to manual adjustments. Confirm corrections in respective core banking systems within the posting month against manual adjustments.
- Process purchase requisitions of the division. Review legal entity, responsibility center and General ledger used for booking, conduct budget reviews, and ensure right approval hierarchy. Clear all purchase requestions in a timely manner
- Raise system request for creation of new GL, LE, RC duly ensuring the reporting structure in coordination with FTBS/GF
- Reconcile all suspense accounts under ownership of the unit as per AOV process.
QUALIFICATIONS & EXPERIENCE:
- Professional Degree in Accounting/Finance
- CA/ACCA/CPA certification preferred
- Around 5+ years of working experience within banking in similar roles.
- Strong understanding of Retail banking business
- Committed team player with strong interpersonal and communication skills
- Ability to multi-task, attentive to details, proactive and flexible.
- Result oriented and able to perform and deliver under pressure within tight timeline.
- Proficiency in MS office tools.
