Accountant Officer

Job Description

Post Title Accountant Officer

Duty Station Jowhar Branch, Hirshaballe

Expected starting date 1st December 2024

Status Permanent

Appointment period Full-time

Reports to Branch Manager

Supervises Branch accountant assistants

About the Central Bank of Somalia (CBS)

The Central Bank of Somalia was established in 1968 as the country’s financial regulatory institution. After years of insecurity, fragility, and economic decline due to the collapse of the state in 1991, The Central Bank was revived and strengthened with the CBS Act of 2011. The Act laid a new foundation to regulate and boost the country’s finance sector and facilitate economic growth.

Our Vision:

The CBS vision is to contribute to the prosperity of the people of Somalia, through maintaining economic & price stability, and financial system stability to support sustainable growth through policy stimulus & advice. In doing so, the Bank would act with the highest degree of integrity & professionalism.

Our Mission:

The mission of CBS is to fulfill its core objectives of maintaining price stability and building a robust, stable, up-to-date, and sound financial system. This would enable CBS to increase the provision of financial services with a wider choice of services geared to all levels of society, which is essential for sustainable growth & the alleviation of poverty.

Our Institutional Values:

· Commitment to serving the public interest.

· Institutional services and orientation.

· Ethics and integrity.

· Transparency and leadership by example.

· Teamwork, equity, fairness, and confidentiality.

1- Role

The Currency and Banking Operations Group carries out a broad range of functions for the Central Bank of Somalia to provide a broad range of financial banking services to the state and its institutions (Public Sector) and for those who have current accounts at the CBS. It also provides additional services such as maintaining the legal reserves for commercial banks and rediscounting both commercial and financial papers. It also provides clearing services. The main functions of the Banking Operations Department are to serve as the “Banker’s bank” by providing banking services to the Government, financial institutions, and other approved account holders.

2- General Description

The branch accountant officer is responsible for the daily operation, reconciliation, accounting, and closing business statements of the Branch and is responsible for the quality and timeliness of services. He/ she will be responsible for ensuring the delivery of services, recommending policies and procedure changes to senior management, overseeing the development of policies in areas of public sector operations, providing accurate information and relevant recommendations, and reporting to the Department Director, Banking Operations regularly and as needed on a timely basis. He/she is a key member of the Banking Operations team.

3- Main duties and Responsibilities

Manage Branch Transactions: Oversee the processing of inwards and outwards transactions through National Payment Systems such as STARS, ACH, RTGS, and Pay Connect.
Daily Account Reconciliation: Perform daily reconciliations for TSA, Local Government, Commercial banks, and all project accounts, ensuring alignment with original documentation.
Maintain State and Commercial Bank Accounts: Manage accounts for both state entities and bodies with accounts at the CBS, including legal monetary reserves, settlements, and various clearances.
Control Ledger Management: Countercheck and maintain branch circulation ledgers and ensure accuracy and consistency in entries.
Currency Centre and Ledger Oversight: Monitor the branch currency center control ledger and ensure daily returns are accurate and up to date.
Daily System Reconciliation: Ensure that daily operational system reports are reconciled, identifying and addressing any discrepancies.
Weekly and Monthly Reconciliation: Ensure accuracy in weekly stock reconciliations and submit the monthly reconciled currency positions to management.
Error Handling and Cooperation with HQ: Collaborate with CBS Headquarters on error transactions and ensure reconciliations are performed accurately.
Clearing Process and Check Administration: Oversee the clearing process, accepting and processing checks for agencies with accounts at CBS.
Preparation of Financial Statements: Responsible for preparing daily, monthly, and yearly branch account statements and handling the daily closing statement.
System and Excel Troubleshooting: Address and correct calculation errors in both system and Excel, ensuring data integrity.
Financial Record Management and Reporting: Serve as the chief officer for branch reconciliation and financial reporting, and maintain branch records such as 8c, 18d, and 14c, while preparing branch expenses and orders.

Skills and Qualifications
Education:

A bachelor’s degree in accounting, Finance, Economics, or Business Administration is required. A professional accounting certification is an added advantage.

Experience:

· At least 3 years of practical experience in the fields of accounting, Banking operations, investment, and/or treasury management. A part of the experience should be in a supervisory position. Strong demonstrated ability to manage objectives effectively.

Language:

· Operationally fluent in both Somali and English, in both speaking and writing.

1- Functional and Organizational Skills

· Possesses a demonstrated understanding of the economics of banking.

· Possess in-depth knowledge of applicable laws and regulations as they relate to current accountancy activities.

· Behave consistently with the CBS codes of ethics and ensure that the behavior of others is consistent with these codes.

· Establish and maintain positive working relationships with others both internally and externally.

· Possess effective written, oral, and interpersonal communication skills.

· Strong leadership skills, including the ability to shape, communicate and implement a strategic vision for the Currency and Banking Operations Group and Banking Operations Department and guide staff with innovative and proactive thinking.

· An ability to empower the Branch’s staff and evaluate their performance fairly, according to CBS rules, and provide timely feedback.

· Assess problem situations, identify possible solutions, and make recommendations and/or resolve the problem.

· Must be accountable, responsible, and risk averse.

· Possess demonstrated modern management skills and utilize international best practices to ensure the best performance of the branch staff.

Other Requirements

· High level of integrity and honesty

· Strong commitment to the vision of the CBS

· Elevated sense of security and confidentiality

Key Performance Measures

Operational efficiency and effectiveness as measured by:

· Client complaints

· Reporting and reconciliation errors

· Operation losses

· Audit and risk assessment ratings either done by CBS or internal/external audits

Overall Operations unit departmental and individual staff performance was done at the end of the year.

How to apply
Qualified national applicants with required skills are invited to submit their electronic applications and updated resumes through email; recruitment@centralbank.gov.so and copy to branches@centralbank.gov.so not later Than 17th October 2024, midnight Mogadishu time. Incomplete Applications and those received after deadline will not be considered, per human resources policy, Central Bank is equal opportunity employer, female applicants are highly encouraged to apply. Please note Only shortlisted candidates will be contacted.