Posted:Jan 11
By:Hiring Kenya
Company Details
Industry:
Banking
Description:
Equity Bank Limited (The "Bank”) is incorporated, registered under the Kenyan Companies Act Cap 486 and domiciled in Kenya. The address of the Bank’s registered office is 9th Floor, Equity Centre, P.O. Box 75104 - 00200 Nairobi. The Bank is licensed under the Kenya Banking Act (Chapter 488), and continues to offer retail banking, microfinance and related services. The Bank has subsidiaries in Kenya, Uganda, South Sudan, Rwanda and Tanzania. Its shares are listed on the Nairobi Securities Exchange and Uganda Securities Exchange. Equity Bank was founded as Equity Building Society (EBS) in October 1984 and was originally a provider of mortgage financing for the majority of customers who fell into the low income population. The society’s logo, a modest house with a brown roof, resonates with its target market and their determination to make small but steady gains toward a better life, seeking security and advancement of their dreams. The vast majority of Africans have historically been excluded from access to financial resources. Having been declared technically insolvent in 1993, Equity’s transformation into a rapidly growing microfinance and then a commercial bank is widely considered to be an inspirational success story. Currently, Equity Bank has more than 9 million customers making it the largest bank in terms of customer base in Africa and having nearly half of bank accounts in Kenya. The company’s vision is "to be the champion of the socio-economic prosperity of the people of Africa”. Equity Bank retains a passionate commitment to empowering its clients to transform their lives and livelihoods. Through a business model that is anchored in access, convenience and flexibility, the Bank has evolved to become an all-inclusive financial services provider with a growing pan-African footprint. Equity Bank’s business model and its visionary leadership has continued to earn local, regional and global accolades and recognition. The model is also studied in some of the leading business schools in the world, as other developing countries in Africa and Asia seek to learn from Equity’s low margin, high-volume model. Equity Bank in 2010 established the Equity Group Foundation. This innovation and creative vehicle has fully transformed the concept of philanthropy and corporate social responsibility. While Equity Group Foundation champions the socio-economic transformation of the people of Africa and seeks partnerships along six cluster thematic areas, Equity Bank provides the infrastructure of delivery, hence reducing the operational costs for the Foundation and increasing the rate of return on any social investment. The six social thematic areas of focus are: education and leadership development; financial literacy and access; entrepreneurship; agriculture; health; innovations and environment. Make an enquiry today
Job Description
The role exists to oversee and manage the financial operations and reporting, ensuring the company's financial stability and compliance with regulatory requirements. This role involves developing and implementing financial strategies, analyzing financial performance, and providing insights to support strategic decision-making. The Finance Manager is responsible for budgeting, forecasting, financial analysis, and optimizing financial processes, all while supporting the organization's overall goals and ensuring effective communication with internal and external stakeholders within the Bancassurance context.
Key Responsibilities
- Preparing quarterly and annual board paper on financial report and present to board.
- Preparation of financial report in line with IFRs
- Advisor to the entire organization on all financial matters.
- Cash flow management.
- Daily management, training and guiding of finance team.
- Ensuring that all relevant taxes such as VAT, withholding taxes, instalment taxes are submitted on time.
- Ensuring company compliance with all the regulatory requirements such as KRA, IRA, NSSF, NHIF etc.
- Overseeing credit control function.
- Formulation and implementing of policies and procedures for the finance department.
- Investments decision maker in liaison with Investment Committee.
- Periodical review of general ledgers and bank accounts of the Bancassurance.
- Approval of all payments of the organization in line with the policies and procedures of the organization.
- Overseeing daily operations of the finance and administration department.
- Preparing weekly, monthly, quarterly, and annual financial reports that comply with all the relevant regulations and submitting the same to all the relevant users.
- Liaison person on all financial issues with the third parties such as insurance companies, Equity group
- Coordinating budgeting processes for the organization and monitoring of the same.
- Coordinating compliance, Risk and both internal and external audit Reviews.
Qualifications
Qualifications and Experience
- Bachelor of Commerce Accounting degree
- CPA (K) or ACCA professional qualification.
- Member of ICPAK or Accounting body and in good standing.
- Accounting, Audit and (or) Actuarial background
- A minimum of six (6) years of post-qualification
- Experience with at least three (3) years in a management position
Key Competencies & Skills
- Knowledge or experience in the Insurance industry accounting practices.
- Good working knowledge and understanding of International Financial Reporting Standards with a good understanding of IFRS 17
- Excellence in Data Analytics will be an added advantage.
- Demonstrate alignment with Equity culture and values.
Education: Degree, Diploma
Employment Type: Full Time
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