Accountant -Finance Operations

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DIB Bank Kenya Limited, is a fully owned subsidiary of Dubai Islamic Bank PJSC (AE). The Bank offers a comprehensive range of Islamic financial products and services with several attractive features based on a system of ethical banking principles for the benefit of all, irrespective of religion, creed, belief, or nationality. As a progressive Islamic Bank that embraces innovation and values creativity, we are seeking to recruit an agile and experienced professional for the below roles:

Job Purpose

Finance Operations and Administration

Accounts payables & requisition management, project accounting. Fixed Assets and the management of the Fixed Assets Register, Cost control and driving cost management culture, Tax payments, Cross border recharges

Control environment

Internal financial controls and policies, standards & procedures, General Ledger standards and controls, financial data processing – integrity, accuracy, sufficiency, Systems security, Department Operating Instructions and process flows, Key Control Standards, Key control Self- Assessment, Key Risk Indicators, systems logical access control

Key Responsibilities

Accounts Payable and Cost Controls

Oversee that Accounts Payable function for procurement and suppliers is carried out efficiently and in a controlled manner. Enforce the Expense Management Guidelines for proper cost control

Fixed Assets Register

Maintain a proper and up to date inventory of all Fixed Assets of the Bank in an automated Fixed Assets Register.

Ensure that all the stages of Fixed Assets life cycle covering acquisition, depreciation, movement, revaluation and disposal are correctly recorded and accounted for

Conduct period verification exercise on all Fixed Assets and update the Fixed Assets Registers appropriately

Reconcile the Fixed Assets Registers to the General Ledger on a monthly basis.

Profit Distribution Model Reviews

Review the results of the Profit Distribution Model (PDM) and where necessary make adjustments to be in line with the market. Maintain the rates and weightages in the system and ensure that the system produces accurate results.

General Ledger Reconciliations and Controls

Reconciliations and or substantiation for GL accounts are reviewed on a period basis, timelines and in the manner set out in the control guidelines. To include reconciliation schedules, backup evidence, quality and ageing analysis.

Reviewing, monitoring and correcting accounts with ‘unnatural’ balances (asset accounts in credit and liability accounts in debit) at TB and Departmental levels.

Accruals, Prepayments, Provisions / write-offs

Review GLs for outstanding items and on a regular basis make adequate accruals and provisions as per accounting standards

Proper accounting for prepayments is made in line with accounting principles

Escalate any reconciliation issues in line with the Escalation procedures and promptly clear all reconciliation issues with utmost diligence and seriousness

Ensure adequate provisions / write-offs must be created / made as required. In such cases, the appropriate approval procedures must be followed in line with the Delegation of Authority.

Intercompany Reconciliation

Intercompany Recharges Reconciliations and Control

Reconciliation and substantiation of amounts Due to and Due From DIB Group affiliates including cross boarder recharges

Ensuring that there are no long outstanding items on the amounts Due From / Due To intercompany affiliates.

To reconcile financial records to the list monthly with counterparties at group level

Project accounting and reporting

WIP monitoring, analysing, accounting and reporting on project spend and explanations for any variances. The accounting aspect must cover transfers to Asset Register / GL as well as amortisation on completion of project

Ensure that costs are recorded against the correct cost centre and account line and that prepayments and accruals are properly recorded, monitored and cleared.

Ensure that all assets are capitalised in accordance with approval limits and that capitalisations are done on a timely basis.

Ensure that project cost centres are inactivated after the project is complete when no more entries are expected to be posted. This should be within three months.

Ensure that costs are recorded against the correct cost centre and account line and that prepayments and accruals are properly recorded, monitored and cleared.

Ensure that a cost forecast is maintained and updated at least monthly. Where possible the project must be included in the annual budget process.

Reliever for Accountant-Financial Control

Perform roles of Accountant-Financial Control as and when required namely regulatory reporting, Management and Group reporting.

Key Control Standards

Internal financial controls and policies, standards & procedures, General Ledger standards and controls including financial data processing – integrity, accuracy, sufficiency, Systems security, Department Operating Instructions and process flows, Key Control Standards, Key Control Self-Assessment, Key Risk Indicators, systems logical access control

Job Requirements

University Degree in Finance, Accounting or Business Studies.

CPA Section 2 or similar qualification.

Minimum 2 years post qualification experience in an accounting or audit environment in a financial institution

Experience in maintaining a Fixed Assets Register and FAR reconciliation procedures

Knowledge of reconciliation procedures

Good interpersonal skills and good verbal and written communication skills.

Good numerical skills

Good computer skills, especially MS Excel

How to apply:

Send your CV and cover letter to careers@dibkenya.co.ke by Wednesday, 21st May 2025, quoting Accountant -Finance Operations as the Subject of the email application. Canvassing will lead to automatic disqualification.