Associate Finance Officer – Financial Accounting (Payables)

The Position

Associate Finance Officer – Financial Accounting (Payables) Job Reference: AFO/FIN/KE/04/2024 

The Associate Finance Officer – Financial Accounting (Payables) is responsible for maintaining financial records by analyzing balance sheets and general ledger accounts. S/he reconciles general and subsidiary accounts by gathering, recording, and balancing information.

S/he will provide financial status information by preparing special reports as well as completing special projects and is the main liaison person for activities within the Financial Accounting unit.

Key Duties and Responsibilities:

• Receive VAT exemptions certificate and records in vendor account. Offset the credit against outstanding invoices.
• Receive supplier’s invoices via the designated channels, staff claims and grants and check for completeness and accuracy, ensure all necessary support documents are attached. Code, analyze, input accurately in the system and circulate for approval.
• Tracking of invoices and grants requests by logging into invoices status tracker.
• Ensure that vendor invoices are scanned and attached to the accruals in Oracle Fusion while processing in the system.
• Ensure accuracy in data entry and payment analysis subject to tax.
• Ensure journals, grants and invoice postings are completed with the provided dimensions and fund to charge.
• Processes payments, wire transfers, and ensure they are complete and accurate and that funds have reached the designated recipients.
• Verifies that all payments have adequate supporting documents and that all necessary authorizations have been obtained for all payments.
• Liaises with country finance officers to ensure that intercompany balances are reconciled every month and necessary adjustments passed to ensure parity of counterparty balances.
• Enters and maintains all payment transactions into Oracle Fusion in a timely and accurate manner within the set TAT’s.
• Informs the vendors, grants unit and staff of the bank’s remittance advice and providing response to any queries that may arise.
• Review and reconciliation of various balance sheet items.
• Supporting the team within the Financial Accounting unit with various tasks as assigned, such as invoice management, travel management, reconciliation process, payment scheduling, fixed assets management and LPO management.
• Liaises with country finance officers to ensure that intercompany balances are reconciled every month and necessary adjustments passed to ensure parity of counterparty balances.
• Review and reconciliation of various balance sheet items.
• Reconcile payables ledger and subledger balances.
• Undertake regular supplier and customers account reconciliations.
• Ensure records for reconciliations are updated and signed off monthly.
• Ensure grants liability and commitment balances are reconciled monthly against downstream systems (e.g., AMIS).
• Processes interbank transfers and/or foreign currency sale in a timely manner and in accordance with the established standards and policies.

Key Qualifications and Experience required.

• A bachelor’s degree in accounting or finance, or equivalent work experience
• Qualified accountant-ACCA, CPA, or similar recognized certification will be an added advantage.
• High computer proficiency in ERPs, spreadsheets (Excel), presentations and reporting software.
• Ability to work independently in a diverse environment.
• Experience in working with similar organizations or institutions will be an added advantage.
• Thoroughly familiar with and experience in working with finance regulations and reporting standards and requirements.