Chief Financial Officer at Standard Chartered Bank Tanzania Plc

Standard Chartered

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: 

• 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:

All transactions undertaken at the head office
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

General Ledger Administration

• 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. 
• 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