Overview

Finance: budgeting and forecasting, creating interim and annual financial statements, facilitating internal mergers and acquisitions, as well as dealing with analysts and investors.

Job Purpose

• This position is responsible for ensuring compliance with the Bank of Tanzania’s financial reporting requirements
• Preparation and review of the bank’s regulatory reports
• Management of the bank’s taxation affairs
• Capital management

Key Responsibilities/Accountabilities

Regulatory

• Ensuring compliance with Bank of Tanzania and South African Reserve Bank (SARB) regulations
• Manage and review the daily, weekly, monthly and quarterly regulatory reports to the Bank of Tanzania in accordance with the Bank of Tanzania’s regulations.
• Manage and review monthly and quarterly reports for regulatory reporting to the SARB (BA 610).
• Facilitate internal/external regulatory audit and Bank of Tanzania examination process by providing the information and explanations required.
• Implementation and ensuring compliance with Basel II accord capital and regulatory requirements when adopted by Tanzania.
• Liaison with Bank of Tanzania on all matters relating to regulatory reporting.
• Preparation of statutory Financial statements for publication
• Prepare quarterly competitor analysis and circulate to EXCO
• Preparation of daily positions through MIS report and distribution to Management, also alert management in case of any breach

Taxation

• Remit statutory payments (PAYE, VAT, WHT, NSSF) and obtain receipts and certificates.
• Manage compliance by SBTL with tax laws and all tax aspects including transfer pricing, withholding taxes, indirect taxes, PAYE and tax planning
• Monitor tax compliance within SBTL.
• Identification and evaluation of taxation risks within SBTL
• Implementation of systems and processes to mitigate identified taxation risks.
• Preparation of monthly and annual taxation computations and returns.
• Review monthly deferred taxation calculations/ reconciliations.
• New and existing product evaluation to determine taxation impact.
• Optimisation of SBTL taxation expense, by identifying areas of tax savings.
• Improve taxation knowledge within SBTL through communication and tax training where appropriate.
• Review tax reconciliation in FIP.
• Liaise with Tax Consultants on tax related matters including tax planning.
• Liaison with Tanzania Revenue Authority on all matters relating to taxation.
• Responsible for tax side of budgets and forecasts.
• Review and sign off all tax-related reconciliation accounts prepared monthly e.g. PAYE, WHT etc.
• Liaison with Africa Tax Team.

Capital Management

• Maintenance of adequate capital as required by Bank of Tanzania.
• Capital management planning and forecasting, ensuring both Tanzania and South African requirements are met.
• Optimisation of capital structure, ensuring appropriate mix of Tier I and Tier II capital.
• Maintain a minimum capital base whilst ensuring compliance with minimum capital requirements and providing adequate capital for business growth.
• Monitoring of legal lending limits; ensuring that this is not breached. Report discrepancies to direct manager.
• Monitor capital adequacy levels and report discrepancies to direct manager.
• Responsible for Capital side of budgets and forecasts

General

• Liaison with External Auditors.
• Liaison with BOT examiners and TRA auditors
• To be responsible for own development and that of subordinates
• To assist with regulatory queries and to provide mentoring and coaching where this is appropriate.
• To develop line staff by assisting in the identification and addressing of training and development needs if applicable.
• To provide relevant training, updates or guidelines to branches in conjunction with relevant line managers at the Bank.
• To complete and be responsible for delivering against own balance scorecard in line with finance division’s balance score card.

Preferred Qualification and Experience

• BCom (Accounting/ Finance).
• ACCA or CIMA.
• Postgraduate diploma or certificate in taxation (an advantage)
• Minimum of 4 years banking experience in a financial management position. 
• Knowledge of Tanzania Banking regulations.
• Understanding of South African Banking regulations will be an added advantage.
• Good understanding of Tanzania Taxation regulations.
• Understanding of IFRS.
• Working knowledge of accounting software. (Knowledge of SAP, Finacle will be an advantage.)

Knowledge/Technical Skills/Expertise

• An appreciation and a good understanding of macroeconomics and external factors affecting the business strategies adopted, and market serviced by SBTL.
• Ability to analyse and evaluate data for acceptability and correctness.
• Analytical mind with a strong orientation to financial analysis.
• Ability and experience in communicating with all levels of management regarding management information needs