The Central Bank of Kenya is a public institution established under Article 231 of the Constitution of Kenya, 2010. The Bank is responsible for formulating monetary policy to achieve and maintain price stability and issuing currency. Pursuant to the CBK Act, the Central Bank promotes financial stability through regulation, supervision and licensing of financial institutions.
Job Purpose
Reporting to the Deputy Manager, Payables Section, the role holder is responsible for managing the day-to-day payables related activities in order to ensure compliance with the laws, regulations, standards and best practices, policies, procedures and internal controls that guide the operations of the Department.
Key Duties and Responsibilities
Strategic Responsibilities
- Enhancing payables internal controls and ensuring compliance with Finance Policy and Payables Standard Operating Procedures.
Technical and Operational Responsibilities
- Review and process supplier invoices, staff claims, imprests and Board Director’s allowances.
- Capture data related to supplier invoices, staff claims, imprests and Board Director’s allowances.
- Perform Bank account reconciliations.
- Correctly compute withholding tax and prepare schedules for returns to KRA.
- File payment documents in an organized manner for ease of retrieval.
- Carry out payments account daily reconciliations.
- Prompt resolution of staff advances (Imprests).
- Prompt and articulate response to supplier queries.
- Reconcile payables related General Ledger Accounts.
Other Responsibilities
- Any other roles and responsibilities as may be assigned by the supervisor.
Qualifications and Experience
Qualifications
- A Bachelor’s Degree in Finance, Accounting or any other relevant degree from a reputable university.
- Professional qualification(s) in accounting e.g. CPA, ACCA or equivalent.
- Membership of ICPAK or ACCA.
Work Experience
- At least three (3) years post qualification experience in a busy Accounting related area.
Competencies
Technical Competencies
- Good understanding of payables management and processes.
- Good understanding of International Financial Reporting Standards (IFRS).
- Good knowledge of Public Finance Management Act and regulations.
- Understanding of Payables modules and systems.
- Good understanding of Public Procurement and Assets Disposal Act.
- Appreciation of Bank policies and practices on payments.
- Good knowledge of Accounts Analysis and Reconciliation.
- Good grasp Taxation & relevant legislation.
- Analytical acumen.
Behavioural/ General Competencies
- Ability to make independent decisions - always staying objective.
- Ability to work collaboratively in a team.
- Self-motivated with the ability to work independently and balance workload to complete multiple assignments within deadlines.
- Analytical thinking and ability to execute tasks in a structured manner, with accuracy and attention to detail.
- Professionalism in interaction and execution of responsibilities.
- Strong verbal and written communication skills.
- Relationship management skills - ability to build rapport and create good relationships.
- High level of integrity and ethical practices – always maintaining the reputation and public perception of the Bank.
- Resilience and ability to maintain momentum when faced with operational challenges, while adapting to a changing environment.
