Job Summary
The incumbent must assist in the management and administration of the bank’s budgetary functions. This role involves maintaining accurate budget records, processing financial transactions, preparing reports, and supporting budgetary planning and monitoring activities. The Budget Clerk will ensure compliance with financial regulations and bank policies.
Essential Duties and Responsibilities
Budget Administration
- Assist in the preparation and monitoring of departmental/ branches budgets.
- Process budget adjustments and ensure proper documentation.
- Maintain and update budget records and ledgers.
Financial Transactions and Monitoring
- Review and budget check purchase requisitions, invoices, and expense reports.
- Verify accuracy and ensure adherence to budgetary constraints.
- Tracking of financial transactions through monitoring of the general ledgers actual vs budgeted.
- Reconcile financial statements and resolve discrepancies.
Reporting and Documentation
- Prepare monthly budgetary reports and summaries for review.
- Assist in the development of financial forecasts and projections.
- Maintain accurate and organized records of all budget-related transactions.
Financial Statements
- Prepare monthly Income Statements and Balance Sheets for branches assigned using data obtained from ITSD on the 1st working day of every month.
- Ensure Income Statements and Balance Sheets are balanced to the trial balance and highlight significant discrepancies, trends, and areas requiring attention.
Compliance and Regulations
- Ensure adherence to financial policies, procedures, and regulations.
- Assist in audits by providing necessary documentation and information.
- Stay informed about changes in financial regulations and update procedures as needed.
Communication and Coordination
- Coordinate with other departments to gather financial information and support budget-related activities.
- Provide assistance to staff regarding budget-related inquiries and processes.
- Support the Head- Financial Planning & Reporting with special projects and analyses as required.
Systems and Tools
- Utilize financial software and tools to manage budgetary data.
- Assist in the implementation and maintenance of financial systems.
- Troubleshoot system issues and work with IT support to resolve problems.
Other Responsibilities
- File reports and supporting documents in a timely and accurate manner for easy retrieval.
- Collect and compile Outstanding Bills Payable (BP2) from branches into excel worksheet by the 7th day of the Month.
- Assisting in enhancement of Budgetary procedures.
- Ensure Bank and Customer information is always kept secure and confidential.
- Adhere to the Bank’s and Branch’s security procedures.
- Developing rapport and good working relationship with other departments.
- Preparing necessary documents for audit process.
- Report any unusual transaction or fraudulent activity to your Compliance Officer/ Supervisor as per established policies and procedures.
Essential Education and Experience
- Five (5) CSEC passes including Principles of Accounts, Mathematics and English
- Minimum of one (1) year’s experience in a financial or accounting role, with a focus on budgeting and data analysis
Desirable Qualification
- Relevant certifications such as CAT (Certified Accounting Technicians) are advantageous
Knowledge/Skills and Abilities
- Proficiency in financial software and Microsoft Office Suite (particularly Excel).
- Attention to detail and accuracy in handling financial data.
- Ability to manage multiple tasks and meet deadlines in a fast-paced environment.
- Understanding of accounting principles and financial regulations.
- Familiarity with budgeting procedures and financial reporting.
- Knowledge of product features, benefits, pricing policies and procedures of all retail banking products.
- Knowledge of accounting and finance fields
- Excellent decision-making and planning skills
- Data management and presentation abilities
- Ability to explain concepts and convince listeners about ideas and plans
- Expert in preparing charts, graphs, tables, etc. for describing profit and loss status
- Branch routine and operating procedures
- Operating System (Flexcube), Microsoft Excel and Word, PowerPoint
- Regulatory Compliance, AML, KYC, FATCA