The purpose of this position is to establish and maintain reliable financial reporting, effective and efficient financial controls, compliance with applicable laws and regulations and effective collection procedures. Additionally, safeguarding of assets against theft, unauthorized use and cash management is essential.
- Establish, maintain and coordinate the implementation of accounting control procedures.
- Audited financial statements.
- Budgetary Control.
- Asset Management.
- Collection Management.
- Effective support to management in the administration of the Student Loan Agency.
Range of Activities
- Prepare annual budget.
- Prepare monthly financial statements.
- Document, assess and recommended internal controls for the improvement of procedures within the Student Loan Agency.
- Liaise with MOF and UG on financial matters.
- Supervision of accounting department.
- Supervision of debt collection.
- Reconciliation of bank accounts.
- Preparation of payroll.
- Preparation of financial statements for audit.
- Supervision of reconciliation of student loans with UG.
- Investment of liquid assets.
- Preparation of reports on loans, repayments, etc.
- Signing of contracts, amendments, correspondences, etc. on behalf of the Student Loan Agency.
- Assist in the overall administration of the student loan agency.
- Maintain a register of fixed assets.
- Compile and analyze financial information to prepare entries to accounts, such as general ledger accounts, and document financial transactions.
- Analyze budgets and expenditures for compliance with voted provision.
- Monitor and review accounting system reports for accuracy and completeness.
- Prepare and review budget, revenue, expenses, payroll entries, invoices, and other accounting documents.
- Analyze revenue and expenditure trends and recommend appropriate budget levels, and ensure expenditure control.
- Explain billing invoices and accounting policies to staff, vendors and clients.
- Resolve accounting discrepancies.
- Recommended, develop and maintain financial data bases, computer software systems and manual filing systems.
- Supervise the input, handling of financial data and reports for the agency’s automated financial systems.
- Interact with internal and external auditors during the completion of audits.
- Any other relevant duties as may be assigned.
Nature and Scope
Qualifications, Knowledge and Experience
This position requires the jobholder to have a first degree in accounts or completed the fundamental stage of the association of chartered certified accountants and three years experience in the senior accounting position. Alternatively, a diploma in accounts or a degree in management plus five years experience in a senior accounting position is acceptable. Incumbent must have first hand experience in computer programs such as Word, Excel and accounting packages.
Decision Making, Problem solving and Impact on Results
The jobholder is responsible for the financial aspect of the operations of the Student Loan Agency. The jobholder oversees the debt collection procedures, responsible as well as is responsible for the safeguarding of the assets, including cash, under the Agency’s control. Though procedures are established, initiative is required as the agency gears to become more proactive in its approach to asset management. The jobholder can influence results greatly by efficiently performing the functions set out. This is a key position and failure to perform will result in severe problems for the Agency.
The jobholders supervise several members of staff, one of whom is also a supervisory officer. The incumbent is responsible for the safeguarding and investment of assets under the Agency’s control and acts for the head of the Agency’s when required.
Communication skills required are both written and oral. The jobholder has to interact with senior officials, both within the Ministry and other organizations, subordinates, other members of staff and the public. A great measure of communication skills and tactfulness is required. Confidentiality is an absolute requirement. Jobholder will have to formulate and express ideas opinions etc, to Management, Ministry of Finance officials.
Normal working conditions are in an office environment. However, jobholder is expected to visit other agencies to conduct official business.