Job Title: Director Finance (1 Position)
Salary Scale: UDBL 2
Reports to: Chief Executive Officer
Location: Head Office
Supervises: The entire staff in the Department of Finance.
Basic Function:
To contribute to the attainment of the Bank’s business objectives by:
Providing strategic direction in the areas of financial management
Oversee the development of all necessary policies and procedures to ensure standardization in these areas.
Ensuring all the financial resources and Financial Records of the Bank are management efficiently and effectively.
Major Activities of the Job
Strategic Direction
Contribute to the achievement of the Bank’s business objectives by providing advice and guidance on strategy
Initiate the development of strategies that will support the achievement of organizational mission, core values and business objectives
Provide ongoing advice to Board members on business and financial issues.
Continuously evaluate strategic direction to confirm alignment with Bank objectives.
Stakeholder Management
Identify all key stakeholders for the finance and procurement processes
Identify relevant and thorny issues and devise a plan to address them
Continuously communicate with stakeholders to improve Bank image
Financial Management
Confirm reporting in compliance with relevant IFRS
Co-ordinate timely preparation of accurate annual financial statement.
Liaise with external auditors and arrange for timely review of the financial statements
Ensure the timely preparation, review and submission of both annual year plan and budgets
Continuously monitor and review the financial position of the Bank to confirm value for the business
Provide financial reports to management and the Board
Manage the processing, payment and reconciliation of all suppliers.
Manage all aspects of fixed asset accounting, ensuring that amounts ultimately recorded in the general ledger are correct.
Monitoring all Balance sheet and Income Statement account movements and ensuring that they reflect the correct balances and all relevant account reconciliations are performed and corrective actions taken timeously.
Management Reporting
Ensuring that all internal and external reporting requirements are timeously met, including preparation of monthly and quarterly accounts, Group Accounts and Statutory Annual Financial Statements,
Being the custodian of the General Ledger, Chart of Accounts, and the central repository for all Financial and Management information for the Bank.
Monitoring all Balance sheet and Income Statement account movements and ensuring that they reflect the correct balances and all relevant account reconciliations are performed and corrective actions taken timeously.
Manage all aspects of fixed asset accounting, ensuring that amounts ultimately recorded in the general ledger are correct.
Preparation of monthly commentaries on UDBL results, including investigation into inconsistent and/or major variances.
Facilitate the design and implementation of reporting systems to provide and communicate quality information.
Treasury Management
Draft strategies to raise funds in international and domestic capital markets and effectively administer borrowings and receipts ;
Analyse and manage the currency and interest rate risks on UDBL’s balance sheet;
Prepare investment and capital replenishment proposals in respect UDBL’s capital increase and replenishments of its concessional loan window, the Social Development Fund;
Review and recommend best practices for the management of UDBL’s ALM policies on liquidity, develop strategies for income management, currency management practices and loan pricing;
Manage UDBL’s investment portfolio and ensure that UDBL’s liquidity requirements are met at all times;
Ensure effective treasury operations and provide guidance on operational issues and UDBL policies.
Provide timely information and reports for ALCO business of the Bank
Tax, capital & Statutory Requirements
Manage compliance with tax law in UDBL and all tax aspects including transfer pricing, withholding taxes, indirect taxes, PAYE and tax planning
Identification and evaluation of taxation risks within UDBL
Preparation of monthly and annual taxation computations and returns.
Optimisation of UDBL’s taxation expense, by identifying areas of tax savings
Manage the relationship and participate in selection of external taxation consultants serving UDBL
Ensure that the Bank’s statutory audits are delivered in accordance with the statutory requirements
Result Areas/Outputs
Identifying and developing long term strategy regarding the preparation of financial statements in terms of IFRS
Management of identified and developed processes and strategies to facilitate the effective preparation of financial statements in terms of IFRS throughout the Bank
Identifying and informing management of potential problems areas and recommending corrective action strategies in Time
Advising the Audit Committee, Board, management and their staff on the accounting impact of IFRS issues in the financial statements
Providing support and advisory services to Management, Audit Committee and the Board on all financial issues
6. Keeping abreast with the best practices and legal requirement and align these with director reporting
Coordinate the Bank’s external Audit Plan
Driving the discussion process for external audit significant findings & table them to the Audit Committee
Liaise and prepare report with the Bank contractual stakeholders
Consult with the Bank lawyers on all legal issues
Direct the activities of Procurement and Finance departments
PERSON SPECIFICATIONS:
Skills Required
Excellent communication skills at senior management
Basic knowledge of contracts
Knowledge of Accounting Policies and Procedures
Computer literate in Word, Excel, PowerPoint and accounting software
Thorough understanding and knowledge of IFRS
Analytical and problem –solving skills
Strategic thinking skills
Good report writing skills
Good managerial / supervisory skills.
Good interpersonal skills
Minimum Education and Training
Bachelors Degree and Professional Qualification in Accounting
Must be a licensed Accountant.
Minimum Work Experience
Eight years in management with three years’ experience in preparation and presentation of relevant Board matters.
Job Description
UGANDA DEVELOPMENT BANK
15A Clement Hill Road, Ruth Towers
P.O.Box 7210, Kampala
Telephone: 256(41)4355 550/4355 555.
Fax: 256(41)4355556,
Tele: 61143
Web site; www.udbl.co.ug Email address: info@udbl.co.ug
How to Apply
Application procedure:
All applications should be hand delivered to:
Ag Chief Executive Officer,
Plot 15 Clement Hill Road, Ruth Towers,
P.O .Box 7210 Kampala.
All copies of academic and professional credentials and testimonials MUST be attached to the applications.
Please note that only shortlisted and successful candidates will be contacted.
Deadline: 19th October 2012
