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To ensure compliance in all financial reporting to regulatory bodies as per reporting
requirements and as per policies and procedures as well as ensuring the correct accounting
treatment of routine transactions with respect to non-customer related transactions of the
bank to derive a complete and accurate General ledger. This role is also responsible for the
day to day managing of the unit, through supervision and guidance to team members.
Requirements
Regulatory Reporting:
• Assist HOD to monitor and enhance accounting procedures for bank as well as manage
the Bank’s chart of accounts
• Participate in the preparation and co-ordination of the Bank’s Budget and financial
forecasts reporting to management and Board
• Work with business heads and provide analysis of trends and forecasts and recommend
actions for optimization
Carry out Quarterly review of the unaudited financial statements for publication
• Supervise and review the Daily/weekly/bi-weekly Bank of Tanzania Returns
• Supervise the preparation of the Monthly Bank of Tanzania Returns.
• Provide any regulatory reports on the agreed format and time.
• Ensure the Business is well aware of the Changes / amendments to the Returns being
made to BOT.
• Quarterly review of financial covenant ratios to Direct Foreign Investors (DFIs), advise
the Head of Finance in case of non-compliance
• Prepare capital ratios reviews as required by the Management and Board
• Preparations of annual financial statements and reports.
• Work together with the head of finance to create and evaluate internal accounting
controls and policies to see if there are opportunities for improvement at the bank
• Assists in Financial modelling and analysis of results, perform Ratios analysis.
• Work with the credit department to resolve loans and advances related accounting
issues, including provisions and commitment fees, interest suspended etc.
• Ensuring the preparation, accuracy, and timely submission of Board Pack as well as its
Committees, group reports (periodic and adhoc)
• Ensure proper maintenance of the Fixed Assets Register of the Bank on daily basis
• Reconcile the Fixed assets register to the Fixed Assets General ledger and rectify any
variances
• Work with the Administration department and ensure the physical verification of assets
is done annually and reconcile with the Fixed Assets register
• Perform reconciliation of tax payments with the financial records
• Ensure compliance with regulatory requirements,
• Increase productivity by participation in the reporting automation project.
• Provide effective support to BOT, internal and external auditors attend to all TRA tax
queries
• Work closely with other members of the finance team to ensure accurate financial
reporting
• Preparation of board pack on a quarterly basis.
• Perform any other duties as may be assigned by the immediate supervisor from time
to time.
Risk Management:
• Update and maintain risk procedures and systems with respect to risk identification,
risk assessment, risk monitoring, risk mitigation strategies and risk reporting
• Ensure effective adoption and utilization of risk management tools
• Drive remediation of risk management exceptions identified during audit or risk reviews and Promote risk management culture
Regulatory Compliance:
• Assess liquidity report ready for submission to the Bank of Tanzania on a daily basis.
• Daily review of net open position reports for submission to BOT.
• Compile the Daily/weekly/bi-weekly Bank of Tanzania Returns
• Compile the Monthly Bank of Tanzania Returns.
• Compile the Quarterly Bank of Tanzania Returns.
• Ensure compliance to bank liquidity and risk management.
• Ensure the implementation of proposed financial recommendations from various
consultants such as tax consultants
Ensure compliance to all taxation laws such as Income Tax Act, VAT, TAA, Transfer Pricing
Guidelines etc.
Audit Compliance:
• Ensure adherence to internal control policies and procedures within the regulatory
reporting process.
• Identify and escalate potential risks, discrepancies, or control weaknesses for prompt
remediation.
• Support the remediation of audit findings and ensure compliance with recommendations
from internal, external, and regulatory audits.
Administration:
• Review and approve suppliers’ invoices in the absence of Finance Manager –
Management Accounting, Budgetary Control and Reconciliations.
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