Central Bank Of Somalia
CENTRAL BANK OF SOMALIA
البنك المركزي الصومالي
bankiga dhexe ee soomaaliya
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Job Description: Accountant Officer
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Post Title
Accountant (Officer)
Duty Station
Galmudug State of Somalia, Dhusamareb
Expected Starting Date
October, 2023
Contract Status
Permanent (Full-time)
Reports to
CBS Galmudug State Branch Manager
Supervises
None
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 vision of CBS 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.
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 Description
As a CBS Galmudug State of Somalia Branch’s accountant will be responsible for minting accurate financial records and assisting CBS Galmudug State’s Branch Manager to ensure that the branch complies with CBS accounting rules and standards. He/she will also be required to perform various accounting tasks including but not limited to managing branch transactions, preparing financial reports to both FMS and for the headquarter when needed, ensuring that the branch has a sufficient cash to handle its daily operations, and aiding the branch manager in decision-making processes in your area of expertise “accounting”.
2- General Description
The Central Bank of Somalia’s Galmudug State of Somalia Brach is responsible for carrying out CBS’s mission, vision, institutional policies, goals, and objectives as state level. To this end, the CBS’ state branch is in charge of fostering economic development and preserving the stability of the country’s financial system stability at state level. In addition, the state branch will be responsible for providing banking services to the state government “Galmudug State”, other financial services, commercial banks, and the public at state level.
The accounting officer of CBS’s Galmudug State Brach will assist the branch manager to carry out the day-to-day accounting operations of the branch. CBS’s Galmudug State Branch accountant officer will also be responsible for branch’s day-to-day financial operations, preparing branch’s financial reports that provides insight into the branch’s financial performance and clients’ accounts positions, and making sure that accounting standards and regulations are complied. Thus, the ideal candidate must be analytical thinker, detail-oriented with strong organizational, accounting, communication, and analytical skills.
3- Main duties and Responsibilities
· Prepares the branch’s yearly budget including spending analysis and revenue estimates.
· Daily close of business (COB) and reconciliations of all branch transactions, including transfers, deposits, and withdrawals with the HQ.
· Prepares financial reports for the branch manager on a daily, monthly, quarterly, and annual basis.
· Keeps detailed, complete, and accurate financial records, including journal entries, ledgers, and trial balance.
· Assists the branch clients’ “agencies” with their transaction and financial queries and treasury single account (TSA) at state level.
· Helps the branch manager to streamline CBS financial policies and procedures.
· Maintains the accounts for both FMS and those bodies who have been authorized to open accounts at CBS.
· Assists the branch manager in implementing international financial Reports standards (IFRS) and procedures of CBS at state level.
· Identifies and corrects/resolves accounting inconsistencies and discrepancies of the branch.
· Analyzes financial reports including but not limited to balance sheet, statements of cash flow, and other financial projections of the branch and reports as financial performance metrics to the branch manager.
· Assists the manager in preparations of the state branch’s budget.
· Acts Branch Manager once Branch Manager in absence.
· Adherence to CBS’s corporate governance and internal control policies.
· Coordinates with CBS and other CBS branches at state level to ensure consistency in financial reporting and accounting practices.
· Maintains relationships and collaboration with external auditors, tax authorities, and other governmental regulatory bodies if required.
· Other job-related duties as may assigned by the branch manager with the scope of the JD.
Education:
- The ideal candidate for this position should have a bachelor’s degree in accounting, finance, or a related field.
- A master’s degree in accounting or finance will be an added advantage.
- Professional certifications such as ACCA will be an added value.
Work Experience:
- Candidates must have a minimum of 3 years of experience in accounting or finance, banking operations are preferred, with at least 1 year in a supervisory role.
- Hands-on previous accountant work experience is required.
- Experience in the banking industry is preferred.
Language:
- Operationally fluent in both Somali and English.
Computer Skills:
- The ideal candidate of this position must be proficient in Microsoft Office Suite and have experience with accounting software, such as QuickBooks, Sage, Tally, etc.
5- Functional and Organizational Skills
The ideal candidate should possess the following functional and organizational skills:
- Strong interpersonal and communication skills.
- Excellent problem-solving and analytical skills.
- High level of attention to detail and accuracy.
- The capacity to function both individually and as a team player.
- Excellent time-management and organizing skills.
- The capacity to prioritize and ability for multitasking and ability to meet deadlines.
- Strong leadership and managerial skills.
- Possesses good negotiation skills.
- Ability to understand complex bank operations.
- Ability to establish positive working relationships with other co-workers and external clients.
- Possesses in-depth knowledge of PFM law and payment regulations of the country.
Other Requirements:
· High level of integrity, honesty, and professionalism.
· Strong work ethic and commitment to excellence.
· Commitment to CBS’s mission, vision, and values.
· Elevated sense of security and confidentiality
· Flexibility and adaptability to changing circumstances.
· Ability to work under pressure and meet tight deadlines.
· A willingness to work extended hours when necessary.
· Availability to travel to other branch locations or attend offsite training as required.
6- Expected Deliverables:
· Timely and accurate financial reporting.
· Adherence to CBS internal accounting policies and other best practice standards.
· Efficient and effective financial operations at branch level.
· Improved accounting processes and procedures.
· Positive relationships with internal and external stakeholders.
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 14th September 2023 midnight Mogadishu time. The Subject line for the applicant’s email should be Application for CBS Galmudug State of Somalia Branch Accountant (Officer). Incomplete Applications and those received after the deadline will not be considered. If you meet the forementioned qualifications, skills, experience, and criteria, we strongly encourage you to apply this position submit your application to contribute to the growth and success of the Central Bank of Somalia.
***Please note Only shortlisted candidates will be contacted.