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Accounting, finance, banking, insurance Jobs in Africa
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Wema Bank Plc
IFRS 9 And Regulatory Reporting Specialist
Lagos, Nigeria
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Wema Bank Plc
CLOSEDIFRS 9 And Regulatory Reporting Specialist
Lagos, Nigeria
Management Sciences for Health -MSH
CLOSEDState Finance & Admin Associate
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GIZ KE
Only on FuzuCLOSEDJunior Accounting Specialist (Cashier) Band 3A
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World Bank Group
CLOSEDEconomist
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Kenya Development Corporation
CLOSEDDirector Investments
Nairobi, Kenya
Kenya Development Corporation
CLOSEDDirector Investments
Nairobi, Kenya
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KCB Group
CLOSEDCompliance, Risk & Community Specialist
Nairobi, Kenya
Closing: Apr 30, 2024
2 days remainingPublished: Apr 26, 2024 (2 days ago)
Job Requirements
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Work experience:
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Job Summary
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Qualifications and Skills
- Bachelor’s degree in Accounting, Finance, or related field; CPA, ACCA, or equivalent professional certification preferred.
- In-depth knowledge of IFRS 9 standards, regulatory reporting requirements, and financial instruments.
- Experience in financial reporting, accounting, or audit functions within the banking or financial services industry.
- Strong analytical and problem-solving skills, with the ability to interpret complex financial data and regulatory guidelines.
- Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.
- Attention to detail and accuracy in financial reporting and data analysis.
- Proficiency in financial reporting software and Microsoft Excel.
Responsibilities
Qualifications and Skills
- Bachelor’s degree in Accounting, Finance, or related field; CPA, ACCA, or equivalent professional certification preferred.
- In-depth knowledge of IFRS 9 standards, regulatory reporting requirements, and financial instruments.
- Experience in financial reporting, accounting, or audit functions within the banking or financial services industry.
- Strong analytical and problem-solving skills, with the ability to interpret complex financial data and regulatory guidelines.
- Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.
- Attention to detail and accuracy in financial reporting and data analysis.
- Proficiency in financial reporting software and Microsoft Excel.
Job Summary
- The IFRS 9 and Regulatory Reporting Specialist is responsible for overseeing the implementation of International Financial Reporting Standard 9 (IFRS 9) and ensuring compliance with regulatory reporting requirements.
- This role involves managing the end-to-end process of financial reporting under IFRS 9 guidelines, as well as preparing and submitting regulatory reports to relevant authorities.
- The specialist will work closely with internal stakeholders to ensure accurate financial reporting and compliance with regulatory standards.
Key Duties
- Lead the implementation of IFRS 9 guidelines across the organization, ensuring alignment with international accounting standards and regulatory requirements.
- Computation of ECL for on-balance sheet and off-balance sheet exposures under the IFRS 9 standards
- Classify credit facilities into risk groups and homogenous groups.
- Periodic back-testing of the models for ECL and its parameters (PD, LGD and EAD)
- Forecasting of macro-economic variables for purpose of forward-looking information
- Computation of effective interest rate (EIR) and authorized cost for the Bank’s credit portfolio
- Preparation of ICAAP and stress test reports
- Analysis of risk asset for preparation of ad-hoc reports
- Risk reporting and risk analysis for regulatory and management reports.
- Expertise in Microsoft Excel and PowerPoint
- Aptness on stress testing and sensitivity analysis
- Analyze the impact of IFRS 9 on financial statements, including impairment calculations, classification, and measurement of financial instruments.
Regulatory Reporting:
- Prepare and submit regulatory reports in compliance with regulatory requirements, including but not limited to Central Bank reporting, Basel III requirements, and other regulatory filings.
- Stay updated on regulatory changes and updates affecting financial reporting and ensure timely adjustments to reporting processes and procedures.
Data Management and Analysis:
- Oversee the collection, validation, and analysis of financial data to support IFRS 9 implementation and regulatory reporting requirements.
- Collaborate with internal teams, including IT and Risk Management, to ensure data accuracy, integrity, and completeness for reporting purposes.
Internal Controls and Audit Support:
- Develop and implement internal controls and processes to ensure accuracy and completeness of financial data for reporting purposes.
- Provide support during internal and external audits, including responding to audit inquiries and addressing audit findings related to IFRS 9 and regulatory reporting.
Stakeholder Engagement:
- Communicate effectively with internal stakeholders, including Finance, Risk Management, and Regulatory Compliance teams, to ensure alignment and collaboration on reporting requirements.
- Provide guidance and training to stakeholders on IFRS 9 guidelines and regulatory reporting standards.
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