Senior Finance and Accounts Officer at TADB October, 2023

Job Title: Senior Finance and Accounts Officer

TADB

ABOUT TANZANIA AGRICULTURAL DEVELOPMENT BANK (TADB)

Tanzania Agricultural Development Bank Limited (TADB) is a government development finance institution operating under the Ministry of Finance and Planning. TADB is registered under the Companies Act. of 2002 and licensed under the provisions of the Banking and Financial Institutions Act No. 5 of 2006 and the Banking and Financial Institutions (Development Finance) Regulations, of 2012.

TADB was established to facilitate the attainment of two broad goals which are:

  • Contribute to the achievement of sustainable food self-sufficient and food security.
  • Transformation of agriculture from subsistance to commercial, in order to effectively and sustainably contribute to economic growth and poverty reduction.

Vision

To be a champion development finance institution for agricultural transformation in Tanzania.

Mission

To contribute to food security and poverty reduction by catalyzing agricultural transformation through innovative financing solutions that develop sustainable and inclusive agricultural value chains.

TADB is looking to fill in the below vacancy:

  1. SENIOR FINANCE & ACCOUNTS OFFICER OPEN POSITION – 1

WORK STATION: DAR ES SALAAM

NATURE AND SCOPE:

To ensure the financial stability, profitability, and regulatory compliance of the bank,

while enhancing shareholder value and customer satisfaction. This includes tasks

such as budgeting, forecasting, general ledger governance, taxation, fixed assets

management, and reporting, with the aim of optimizing financial activities.

KEY RESPONSIBILITIES:

Budgeting:

  • To develop and implement effective budgeting processes, to ensure alignment with the bank’s strategic objectives.
  • To gather relevant financial data for budget creation from different heads of department.
  • To monitor budget performance, identify variances, and provide recommendations for corrective actions.
  • To review and update budgeting methodologies to improve accuracy and efficiency.

Fixed Assets Management:

  • To establish and maintain a comprehensive fixed assets register, recording acquisitions, disposals, and depreciation.
  • To conduct regular physical asset verification to ensure accuracy and compliance with accounting standards.
  • To monitor and analyze fixed assets utilization, performance, and maintenance costs.
  • To develop and implement asset management policies and procedures with relevant departments.

Forecasting:

  • To conduct comprehensive financial analysis to forecast future trends, revenues, and expenses.
  • To utilize forecasting models and techniques to identify potential risks and opportunities.

To gather relevant data and insights for accurate forecasting from different departments.

  • To prepare and present financial forecasts to management, highlighting key findings and recommendations.

General Ledger Governance:

  • To ensure the accuracy, integrity, and compliance of the general ledger and financial records.
  • To oversee the month-end and year-end dosing processes, including journal entries and reconciliations.
  • To develop and enforce accounting policies and procedures to maintain robust internal controls.
  • To implement necessary recommendations from auditors during financial audits.

Taxation:

  • To ensure compliance and minimize tax liabilities staying updated on tax regulations and legislation.
  • To prepare and submit timely and accurate tax returns, including income tax, sales tax, and payroll tax.
  • To optimize tax planning strategies and identify potential savings from external tax advisors.
  • To provide guidance and support to internal stakeholders on tax-related matters.

Reporting:

  • To prepare regular financial reports, including income statements, balance sheets, and cash flow statements.

9 To analyze financial data and present key findings to management, supporting decision-making processes.

  • To develop customized financial reports to meet specific internal and external reporting requirements.

9 To ensure compliance with regulatory reporting standards and provide accurate and timely submissions.

FUNCTIONAL/TECHNICAL COMPETENCIES:

9 Ability to interpret accounting standards and Central Bank policies, financial regulations and implement them within bank’s strategic plan and operations.

  • Ability to apply relevant banking operations, procedures and controls to ensure that bank is not put at risk.
  • Ability to analyze and interpret data.

QUALIFICATIONS, KNOWLEDGE, EXPERIENCE:

  • A Bachelor’s degree in Accounting, Finance, Banking, commerce, or related business subjects, from any recognized University or its equivalent qualifications
  • Having a professional qualifications such as CPA and ACCA will be an added advantage.
  • A minimum of three (3) years working experience in a commercial bank or financial institution.
  • Strong analytical and interpersonal skills.

9 Ability to work in tight deadlines without compromising accuracy.

  • Knowledge of the bank’s financial reporting process and IFRS.
  • Excel to Advanced Level and conversant with other Microsoft office applications such as Word & PowerPoint.
  • Knowledge of regulatory reporting and Bank of Tanzania (BOT) policies and guidelines.
  • Good communication and writing skills

MODE OF APPLICATION AND DEADLINE:

Job applicants are required to apply for this employment opportunity through: the TADB career portal: https://www.tadb.co.tz/careers/ or send their application through the email: careers@tadb.co.tz indicating the position applied for on the email subject.

Please note: applicants are required to attach the following to their respective applications:

  1. Application letter showing how you meet the requirements of the position

2. An up-to-date Curriculum Vitae

  1. Contacts stating name in full, physical address, telephone numbers, and e-mail addresses of the candidate
  2. Certified copies of relevant certificates
  3. Names and full contacts of three (3) referees

TADB is an equal opportunity employer. The Bank does not engage in practices that discriminate against any person employed or seeking employment

TADB fosters the strength and health of its workforce through a competitive benefits package, professional development, and policies and programs that support a healthy work/life balance. Join our workforce to make a positive difference for others — and yourself.

Closing date: Applications should reach the undersigned no later than 4.00 pm on 19th October, 2023