Principal Bank Reconciliation & Control Officer - Accounts and Special Funds

• Position title: Principal Bank Reconciliation & Control Officer - Accounts and Special Funds
• Grade: PL-4
• Position N°: NA
• Reference: ADB/13/040
• Publication date: 01/03/2013
• Closing date: 22/03/2013

Objectives

To ensure that:

• Complete, timely and accurate accounting and reporting of all transactions of the Bank Group are made in accordance with International Accounting Standards and rules of the Bank Group
• Internal controls around banks and General Ledger reconciliation are adequate, effective and functioning properly;
• All bank reconciliations are properly and effectively coordinated and supervised;
• Financial reports of banking activities of the Bank Group are timely and accurate;
• Reconciliation and clearance of all suspense and receivable/payable accounts in the general ledger are carried out properly and in a timely manner.

Duties and responsibilities

Under the supervision of the Division Manager, FFCO.1, the incumbent will carry out the following functions:

Bank Reconciliation.

• Supervise and coordinate all bank reconciliation activities encompassing Field Offices, borrowings, investments, loans, subscriptions, administrative expenses payments etc.
• Provide critical input for technical accounting and policy guidelines on system implementation projects in the area of bank accounts and the reporting of balances due from banks in the financial statements;
• Supervise the investigation and follow up of all outstanding items on bank reconciliation statements with responsible persons and various organization units including FFMA, FTRY, CHRM, FFCO and OPSM;
• Supervise and analytically identify old and irrecoverable amounts on bank reconciliation and advise how best to resolve them;
• Ensure accurate and timely reconciliation of banking transactions for all the bank accounts maintained by the Bank Group and Trust Funds to ensure timely completion financial reports.
• Provide monthly summary of bank reconciliations for review by Management
• Verify the reliability and accuracy of bank balances in the general ledger and trial balance;
• Working closely with FTRY, ensure that adequate internal controls are maintained in the opening and closing of new and old bank accounts.
• In liaison with other data entry personnel, improve the internal control environment on Bank accounts and transactions.
• Supervise the revaluation checks of bank accounts to ensure accuracy and completeness of translation gain or loss recognized in the Bank Group, Bilateral Funds, and Grants financial reports;
• Systematically liaise with Field Office Administrative Officers and Assistants in the timely booking of transactions as well clearance of related bank reconciliation items.

Analysis and Reconciliation of General Ledger Accounts

• Systematically investigate suspense accounts of general ledger and ensure timely clearance of such accounts for the Bank Group, Bilateral Funds, Grants and Field Offices
• Ensure reconciliation of all inter-institution accounts for the Bank Group, Grants, and Bilateral Funds.
• Give instructions for the settlement of all inter-institution receivables and payables for the Bank Group and bilateral funds.
• Follow up outstanding inter-institution accounts of the Bank Group, Bilateral Funds, Grants and Field Offices.

Selection Criteria

Including desirable skills, knowledge and experience

• At least a Master's degree in Accounting, Finance, Audit, Business Administration, or Banking, combined with a membership of an internationally recognised professional accounting body e. g. CA, CPA, ACCA or Expert Comptable;
• A minimum of 6 years of relevant professional experience, including experience in an accounting firm of international repute;
• Very good computer skills including proficiency in SAP, Word, Excel, Access, and PowerPoint;
• Excellent writing skills, and ability to explain technical accounting issues to subordinates and colleagues;
• Good team player and excellent interpersonal and communication skills;
• Demonstrated competences for accuracy, attention to detail, integrity and update knowledge of International Financial Reporting Standards;
• Ability to communicate and write effectively in French and/or English, with a very good working knowledge of the other language is a necessity.

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Principal Bank Reconciliation & Control Officer - Accounts and Special Funds (78 KB)

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To apply for this position, you need to be national of one of AfDB member countries.

• Submitted by: Clement Opare, OIC, CHRM.1
• Approved by: Clement Opare, OIC, CHRM.1

Only applicants who fully meet the Bank's requirements and are being considered for interview will be contacted. Applicants will only be considered if they submit an online application, and attach a comprehensive Curriculum Vitae (CV). The AfDB President reserves the right to appoint a candidate at a lower level. The African Development Bank is an equal opportunities employer and female candidates are strongly encouraged to apply: www.afdb.org/jobs