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Standard Chartered |
in Tanzania 2024: New Job Opportunities at Standard Chartered 2024
💥Chief Financial Officer
- Job ID: 6639
- Location: Dar es Salaam, TZ
- Area of interest: Audit, Accounting & Finance
- Job type: Regular Employee
- Work style: Office WorkingÂ
- Opening date: 30 Jul 2024Â
Chief Financial Officer at Standard Chartered Bank Tanzania July 2024
- Financial
strategy and Planning – Contribute strongly to the formulation of SCB
Tanzania strategic and medium-term financial plans and their
implementation. - Ensure accurate and timely financial reporting and compliance with Local Regulatory and International standards.
- Raise
the level of understanding and awareness of the Bank’s risk and
profitability methodologies amongst SCB Tanzania’s management team and
to contribute appropriately to their implementation. - Monitor and
drive compliance with local capital adequacy and reserve asset
requirements and draw management attention to any action to meet these
requirements. - Manage the Bank’s tax affairs effectively, keeping management informed about those affairs and ensure compliance
- Ensure
that SCB Tanzania property portfolio is effectively managed and
maintained to the highest standard prescribed in the Local Regulatory
and Group policy - Manage operational risk of the Finance
function through all applicable policies and by serving as local Risk
Owner for operational risk sub-types under External Rules &
Regulations - Implementing and monitoring compliance with Group/local accounting policies, standards, and procedures.
RESPONSIBILITIES
Strategy
- To
be a proactive member of the Senior Management Team in Standard
Chartered Bank Tanzania Limited and contribute strategically to the
leadership and management of the Bank, including the achievement of
business-line objectives. - Contribute strongly to the formulation of SCB Tanzania strategic and medium-term financial plans and their implementation.
- Development of SCB Tanzania business through involvement in strategic planning, marketing, and budgeting
- The
achievement of SCB Tanzania strategic plans and budgets through
monitoring and regular and timely reporting to Management and the Local
Board
Business
- Decision making on the future direction of the business in Tanzania and day to day issues which impact on this
- Control
of operating costs and capital expenditure levels, bringing to the
attention of Management areas where savings could be achieved. - Advise
on the financial and risk implications of resource allocation and other
business decisions, and review the financial evaluation of proposed
projects which require the support or approval of country management;
and - Raise the level of understanding and awareness of the Bank’s
risk and profitability methodologies amongst SCB Tanzania’s management
team and to contribute appropriately to their implementation. - Staff development within Finance Division through involvement in planned programmes
Processes
FINANCIAL MANAGEMENT
an objective source of financial expertise and advice and provide an
independent challenge to business issues. As part of this should:
- Support the management of the Balance Sheet
- Comment
on financial performance to local management, particularly drawing
attention to favourable and unfavourable trends in operating
performance, exposure to unacceptable risks; ways of improving
profitability, and management of risk.
MANAGEMENT ACCOUNTING
Following
the leadership provided by the Financial Controller and Business
Finance Managers, Business Information in standards and principles for
management information, will:Â
- Initiate,
co-ordinate and prepare the consolidation of country budget and
forecasts, including contributing to the setting of performance targets - Prepare the monthly management accounts
- Co-ordinate the preparation of the Business Unit Reports and ensure that the reports are relevant and focused.
- Provide customer and product profitability information and lead the development and maintenance of product costing standards.
FINANCIAL ACCOUNTING
In
addition to applying the standards and principles for financial and UK
regulatory reporting established by the Group Chief Accounting Officer,
the Chief Finance Officer has the following responsibilities:Â
- Local Regulatory and Statutory Reporting
- To deliver accurate and timely financial and statistical information to local regulators
- To liaise with local regulator(s) on issues arising from financial, statistical, and other reports
- To
monitor compliance with local capital adequacy and reserve asset
requirements and draw management attention to any action to meet these
requirements; and - To ensure that statutory accounts are drawn up in accordance with local requirements in a timely manner.
Head and Regional Office reporting
- To
submit timely and accurate financial returns which have been prepared
using the Group’s accounting policies (or such local variations which
have been formally approved by Group Finance Division); - To submit the annual statement of compliance with Group Accounting policies; and
- To respond efficiently to any queries which may arise.
Central Accounting and Others
To maintain accounting records of:
Investments held by the Bank within the country, ensuring that all dividends are promptly received where applicable
Transaction under the direct operational control of Tanzania management
(e.g. bad and doubtful debt provision, taxation provision and payments,
liability to damages, redundancy payments and so on)
- To
ensure that all accounting procedures carried out in the country
(including those performed by Finance Department, branches and
subsidiaries) are documented in a user-friendly way and are kept up to
date. - To contribute to Product Programmes by assessing the
accounting, taxation and regulatory implication of proposed new products
and ensuring that these are managed effectively if the product is
introduced
- To implement and monitor the application of the Chart of Accounts
- To maintain control over the profit (revenue or income) and cost centres in the General Ledger; and
- To
ensure that suspense accounts held in the General Ledger are cleared
promptly by the department responsible for their reconciliation.
Fixed Asset Accounting
- To maintain an up-to-date inventory of fixed assets classified by type, age and location; and
- To
coordinate and initiate periodic checks of assets and confirm their
existence and condition and the accuracy of the accounting records.
Trade Creditor Accounting
- To ensure authorisation procedures are followed before goods and services are ordered and before creditors and staff are paid
- To check that transactions are in accordance with agreed purchasing policies
- To ensure the prompt payment of expense creditors, taking advantage of credit periods or discounts for early payment
- To confirm that expenses are accounted for in the General Ledger in conformity with Group policies.
- To ensure that there are clearly documented procedures for the initiation, recording and payment of expenses
- To provide management with regular reports on:
- expense payment; and
- creditors’ accounts and balances.
TAXATION
- Liaise
with Group and regional tax departments and local tax advisors to
support the effectiveness of the Bank’s tax affairs and the local tax
liabilities - Manage compliance with the local corporate, income
and other tax regimes (e.g. withholding tax and sales taxes) and
minimise the burden of taxation on the Bank; and - Manage the Bank’s tax affairs effectively, keeping management informed about those affairs.
INSURANCE
- Ensure,
with support of local management, that information needed to administer
and renew the Group Insurance Programme is accurately gathered,
assessed and communicated to Group Insurance Risk Management - Ensure local insurance comply with the law, tariff or practice and with guidelines set out in the Group Insurance Manual; and
- Assess,
with local management and/or the local representatives of the Group
Insurance broker, what form of other insurance is required locally and
to purchase this, subject to the prior agreement of Group Insurance Risk
Management.
CORPORATE REAL ESTATE SERVICES (CRES) AND SUPPLY CHAIN MANAGEMENT
- Ensure
that SCB Tanzania property portfolio is effectively managed and
maintained to the highest standard prescribed in the Group - Manage
any property related development projects to the satisfaction of the
business and provide input into any new development which enhances the
property portfolio. - Ensure the SCB Tanzania purchasing and
supplying activities are effectively managed and that costs within these
areas are well controlled to the advantage of the Bank; and - Monitor the operational and capital expenditure programmes to ensure adherence to budgeted limit.
​​​​​​​People & Talent
- Give strong leadership and people development in Tanzania finance function:
- Facilitate
and support the members of the SCB Tanzania Finance team who provide
services to management and other members of the Bank. To ensure that
members of SCB Tanzania finance team have the necessary product
knowledge and accounting skills to provide the necessary support. - To ensure that the finance function within Tanzania is staffed by appropriately qualified professional staff.
- To
evaluate, manage and develop the skills and careers of the finance
professionals in Tanzania, including implementing appropriate training
programmes; and - Increase awareness and understanding of
financial management techniques and amongst non-finance members of the
Country Management Team
Risk Management
- Manage
operational risk of the Finance function through all applicable
policies and by serving as local Risk Owner for operational risk
sub-types under External Rules & Regulations - Prudential Standard – Capital
- Prudential Standard – Liquidity
- Prudential standards are defined as local regulatory requirements pertaining to Capital and Liquidity
- As
a Risk Owner for the local capital and liquidity regulatory
requirements, you are responsible to ensure that the local branch or
subsidiary hold sufficient capital and liquidity and remain compliant
with regulation. - Specific to the operational risk sub-type,
execute second line Risk Ownership responsibilities as outlined under
the Operational Risk Framework (ORF) and associated policies and
procedure. Including but not limited to the following. - Ensure that required control standards are being met by continuous monitoring of risk and control indicators.
- Highlight
and escalate (as required) where control standards are not being met,
including highlighting control design deficiencies or gaps to Group Risk
Owners. - Challenge and approve (where appropriate) first line
risk identification, residual risk assessments and mitigation plan,
taking into account changes to the internal and / or external
environment. - Review, challenge and support Risk Acceptance
Requests request made by relevant country Process Owner (s) for
submission to the authorized risk acceptance authority. - Monitor
‘live’ risks, and jointly with first line owners, ensure that
appropriate management action is being taken to mitigate their impact
Governance
- Key
role in implementing and maintaining the Bank’s policies on internal
control and risk identification, and the primary responsibility for
implementing and maintaining internal financial controls which ensure
reliability in financial reporting by providing reasonable assurance
that proper accounting records are maintained and that the financial
information used within the business or for publication is reliable.
Therefore, have responsibilities, inter alia for. - Implementing and monitoring compliance with Group/local accounting policies, standards, and procedures.Â
- Maintaining the local General Ledger.
- Preparing complete and accurate financial reports and analyses.
- Monitoring key financial risk indicators; and
- Contributing to the Improvement of the overall control environment for the Bank.
Operational Risk Management Assurance (ORMA)
- Ensure
compliance to the Operational Risk framework including the effective
application of risk toolkit (self-assessments, KCIs, CST’S, etc) and
reporting. - Risk control ownership of financial risk – develop
and maintain risk identification, measurement – ensuring that material
risk exposures and related issues are reported to the responsible
governance committees and to the Board or Board committee as
appropriate.
​​​​​​​​​​​​​​Regulatory & Business
- Conduct Display exemplary conduct and live by the Group’s Values and Code of Conduct.
- Take
personal responsibility for embedding the highest standards of ethics,
including regulatory and business conduct, across Standard Chartered
Bank. This includes understanding and ensuring compliance with, in
letter and spirit, all applicable laws, regulations, guidelines and the
Group Code of Conduct. - Lead the Tanzania Business to achieve the outcomes set out in the Bank’s Conduct Principles:
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key Stakeholders
InternalÂ
- Country management team
- Business Finance Managers
- Group Taxation Controller
- Africa Regional Office
- Group Finance Department
- Group Market Risk
- Group Corporate Tax and Treasury
External
- Central Bank of Tanzania
- External Auditors
- Tax Authorities
- Insurers
- Outsourced Companies
Other Responsibilities
- Contribute
significantly to the quality of decision making in SCB Tanzania at top
level. A member of the Management Committee and the Assets and
Liabilities Committee (ALCO), - Influence and in some cases help in the management of deposits, liquidity and currency position of the Bank in Tanzania;
- Decision on Finance Division staff training requirements.
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Qualification
- University Degree in Accounting and Finance with professional accounting qualification.
- At least ten years’ experience in financial management and in financial services environment.
- Professional accounting qualification CPA or ACCA
- Over 8 years’ experience in a senior financial management and administration position of a Bank or large commercial organisation
- Thorough knowledge of Accounting Principles, taxation, and banking
- Broad understanding of banking practice
- Superior knowledge and experience in utilization of Information Technology in modern business; and
- Good communications, interpersonal and leadership skills.
Role Specific Technical Competencies
- Key Performance indicator
- Effective communication
- Creativity
- Planning: Tactical, Strategic
- Written Commutations
- Marketing strategy and positioning
About Standard Chartered
We’re
an international bank, nimble enough to act, big enough for impact. For
more than 170 years, we’ve worked to make a positive difference for our
clients, communities, and each other. We question the status quo, love a
challenge and enjoy finding new opportunities to grow and do better
than before. If you’re looking for a career with purpose and you want to
work for a bank making a difference, we want to hear from you. You can
count on us to celebrate your unique talents and we can’t wait to see
the talents you can bring us.
Our purpose, to drive commerce and
prosperity through our unique diversity, together with our brand
promise, to be here for good are achieved by how we each live our valued
behaviours. When you work with us, you’ll see how we value difference
and advocate inclusion.
Together we:
-
Do the right thing and are assertive, challenge one another, and live
with integrity, while putting the client at the heart of what we do - Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
- Are
better together, we can be ourselves, be inclusive, see more good in
others, and work collectively to build for the long term
What we offer
In
line with our Fair Pay Charter, we offer a competitive salary and
benefits to support your mental, physical, financial and social
wellbeing.
- Core bank funding for
retirement savings, medical and life insurance, with flexible and
voluntary benefits available in some locations. - Time-off
including annual leave, parental/maternity (20 weeks), sabbatical (12
months maximum) and volunteering leave (3 days), along with minimum
global standards for annual and public holiday, which is combined to 30
days minimum. - Flexible working options based around home and office locations, with flexible working patterns.
- Proactive
wellbeing support through Unmind, a market-leading digital wellbeing
platform, development courses for resilience and other human skills,
global Employee Assistance Programme, sick leave, mental health
first-aiders and all sorts of self-help toolkits - A continuous
learning culture to support your growth, with opportunities to reskill
and upskill and access to physical, virtual and digital learning. - Being
part of an inclusive and values driven organisation, one that embraces
and celebrates our unique diversity, across our teams, business
functions and geographies – everyone feels respected and can realise
their full potential. - Go to our Homepage To Get Relevant Information.