To monitor and control the accounting functions of the bank by ensuring accurate booking of Assets, Liabilities, Income and Expenditure in the General Ledger. To extend adequate assistance to the Finance Controller in submitting the CBK returns and Head office returns. The role also includes responsibility for timely processing of supplier payments, supervision of Nostro and Suspense account reconciliations.
Principal Accountabilities: Key activities and decision making areas
• Ensure that the regulatory reports (existing and proposed) pertaining to FCD are submitted to CBK within the stipulated deadlines.
• Coordinate with Central Bank and GLT in automation of the new CBK TBS Reports
Customers / Stakeholders
• Verifying and ensure the processing of supplier payments
• Ensure reconciliation of Nostro accounts
Leadership & Teamwork
• Processing of all utility bills, petty cash entries and booking of daily financial entries.
• Monitoring suspense accounts. Reducing operational risk losses.
Operational Effectiveness & Control
• Ensure FIM guidelines and audit recommendations are implemented and maintained at all times.
• Comply with money laundering deterrence regulations and guidelines
Typical KPIs and Target:
• By preparing the required information from HUB, TREATS and Hyperion -IR in the prescribed formats and ensuring that the Central bank queries are answered satisfactorily.
• In coordination with MEM IT and GLT teams, to assist in the completion of the mandatory CBK TBS reports. To coordinate with the CBK on the implementation of the project.
• By ensuring the processing all pending invoices without any delay or customer complaint
• By supervising the Nostro reconciliation process with the help of the Nostro reconciliations team in Hyderabad. To ensure all long outstanding entries are cleared on time in line with FIM guidelines.
• By ensuring that all bank utility bills are processed before the due dates, verifying petty cash vouchers and booking the expenses to concerned department cost centres.
• By supervising the reconciliation of suspense accounts on a periodical basis. To collect supporting documents from concerned departments
• By implementing the recommendations of regulatory, internal and statutory audit. To obtain satisfactory audit report with no repeat recommendations.
• By recognizing and providing timely notification to MLCO. Ensuring to report any suspicious transactions
• The job holder will need to have an in depth knowledge of the Kuwait banking market and the rules and regulations of the Central Bank of Kuwait. The job holder needs to be well versed with all Central Bank and GHO returns being submitted to the regulator / Group.
Job Details
| Date Posted: | 2014-04-10 |
| Job Location: | Al Kuwait, Kuwait |
| Job Role: | Accounting/Banking/Finance |
| Company Industry: | Banking; Financial Services |
Preferred Candidate
| Career Level: | Mid Career |
| Nationality: | Kuwait |
| Degree: | Bachelor's degree / higher diploma |
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Date Posted: April 10, 2014 at 04:53PM
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Manager, Financial Control Department (FCD) - Kuwait National Only
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