Junior Finance Analyst
Umba
Lagos, NG
5d ago

About Umba Inc.

Our mission at Umba is to use machine learning to allow us to create intelligent, affordable financial products for emerging markets. Umba is live in Nigeria, expanding quickly into additional markets, offering a full suite of digital banking products to its customers through Android and iOS Apps. Our platform uses machine learning and big data to build credit scores to optimize risk exposures and allows users to apply, receive, and repay microloans and through their smartphones. Once a user creates an account, we validate their information and make lending decisions based on the information they give us and hundreds of data points we take from their smartphone with their permission. Our machine learning models are in a state of constant improvement, and we use AI and automation to deliver the lowest cost banking solutions for our growing customer base. We have built out a comprehensive data collection platform, with our data warehouse storing over 100m rows of data for accurate credit scoring.

About Umba Kenya

Umba Inc has recently acquired a majority stake in a Kenyan Microfinance Bank and is currently going through the Central Bank of Kenya approval process. Approval is expected imminently with work currently underway to transition the Bank to the Umba strategy. Operations (for the new strategy) are expected to commence in quarter three for the year 2022.

Job Description

The Junior Finance Officer is a role reporting to the Finance Manager. This position is responsible for supporting the Finance function to manage all finance, Accounting, Tax, Regulatory reporting and Treasury activities for the Bank. The incumbent will be responsible for ensuring accurate accounting data is captured, investigations for variances are carried out and closed on time, management accounts are generated, daily reconciliations are done and statutory reports are prepared on time for approval by the Finance Manager for forwarding to the Central Bank among other responsibilities.

Responsibilities

  • Manage all trade payables and receivables by ensuring the appropriate payments are processed within the prudential timelines and receivables are pursued and collected within the agreed period.
  • Process invoices
  • Ensure all transactions that are done off the Core Banking System are booked in the Accounting system.
  • Prepare monthly, quarterly and annual financial reports
  • Reconciliation of bank statements and failed transactions both in the Core Banking System and the Accounting system
  • Participate in financial audits.
  • Participate in the annual budget process, forecasting and all other financial planning exercises in consultation with the Finance Manager.
  • Prepare all financial related regulatory returns in a timely manner on time for approval by Finance manager before forwarding to the Central Bank of Kenya.
  • Responsible for timely preparation of tax reports
  • Participation in considering and inputting assumptions in the IFRS model and ensuring they are current and appropriate and that the outputs are accurate.
  • Monitoring all regulatory financial ratios and escalating any adverse trend on any ratio to the Finance Manager to alert the management team for appropriate action.
  • Ensure all crucial financial administrative records are archived and are accessible in case of need.
  • Manage payroll and ensure staff salaries are processed on a timely manner reflecting all pre-payroll changes and ensure all statutory deductions are remitted to the respective agencies.

Qualifications and Experience

  • Bachelors degree in Accounting, Economics, Business or any other relevant field.
  • Minimum of 1 years experience in a similar role in a regulated financial institution.
  • Professional qualification in Accounting - CPA(K) or ACCA.
  • Member of professional bodies like ICPAK.
  • Must have a good grip of the CBK Prudential Guidelines, CBK Risk Management Guidelines, the Kenya Banking Act and the Kenya Microfinance Act (2016)
  • Have in-depth accounting Knowledge

Work Status

Valid work authorization for Kenya Umba is proud to be an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law. If you have a disability or particular need that requires accommodation, please let us know.

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