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- Company: Gulf African Bank
- Location: Kenya
- State: Nairobi
- Job type: Full-Time
- Job category: - Accounting Jobs in KenyaFinance Jobs in Kenya
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Job Description
The genesis of Gulf African Bank (GAB) can be traced back to 2005, when a group of motivated Kenyans envisioned establishing an Islamic bank as an alternative to conventional banking in the country. By conducting business on the principles of Shari’ah, the bank would provide an ethical and fair mode of banking for all. Gulf African Bank is the first and largest Islamic Bank in Kenya and one of the fastest growing banks in the history of the banking sector of the country. The bank offers fully Shari’ah compliant products and services that address the needs of not just Muslims, but everyone in the country including individuals, corporate companies, and institutions. The bank was incorporated on August 9th, 2006 and started operations as a commercial bank in January 8th 2008, in a historic event, where it was granted the country’s first fully-fledged commercial banking license as a dedicated Islamic bank, by the Central Bank of Kenya.
Job Purpose
To ensure efficient financial reporting that meets the requirements of the regulatory authorities (CBK), IFRS, the Companies Act, and the bank policies, and ensure timely filing of accurate prudential returns.
Key Responsibilities
- Preparation prudential returns to the Central Bank of Kenya and ensuring that they are filed accurately and on timely basis. This includes preparation, compilation and submission as per Prudential Guidelines.
- Preparation of the Bank’s detailed monthly management accounts including associated schedules and comparison of performance against budgets with variance analysis and explanations of performance.
- Prepare yearly audited financial statements; facilitate yearly financial audits & Managing of i-Tax accounts for Bank’s subsidiaries.
- Computation of the Bank’s monthly Financing (loans) impairment Provisions. i.e Both Regulatory (as per CBK) and IFRS 9 (ECL model) requirements.
- Provide timely and accurate ALCO reports including stress testing.
- General Ledger maintenance and monitoring of the daily and monthly balances through review of the Trial Balance to mitigate against mis-reporting and income leakages.
- Review and authorization of transactions in the system to ensure correct recording of transactions
- Contribute actively in preparation of the Bank’s Annual and Quarterly Financial statements.
- Participate in implementation of Financial Management Policy, fixed assets policy and procedures, and other financial control related policy and procedures.
- Participate actively and give support on annual budget preparation.
- Actively participate in any Ad hoc project-work as assigned from time to time.
Requirements
Qualifications And Experience
- A business related degree and 5 years of relevant Finance/ accounting experience in the Banking sector CPA (K), ACCA or equivalent
- Knowledge of Banking Sector Regulations and taxation.
- Good understanding of IAS and IFRS.
- Practical experience in use of relevant MS Office applications.
Competencies
- Good people skills
- Strong Analytical skills
- Communication skills
- Good writing and reporting skills
- Accuracy and Attention to details
- Problem solving and accountability
