Head, Accounts Payable Job at Stanbic IBTC Bank

Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa's financial system for 150 years, and now spans 16 countries across the African continent.

Standard Bank is a firm believer in technical innovation, to help us guarantee exceptional client service and leading edge financial solutions. Our growing global success reflects our commitment to the latest solutions, the best people, and a uniquely flexible and vibrant working culture. To help us drive our success into the future, we are looking for resourceful individuals to join our dedicated team at our offices.

We are recruiting to fill the position below:

Job Position: Head, Accounts Payable
Job ID: 43778
Job Location: Lagos
Job Sector: Banking

Job Details

• 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

• Provision of an efficient Accounts Payable service to the Stanbic IBTC Group (Head office, Branches and intercompanies)
• To oversee the fixed asset management function to ensure proper recording and safeguarding the group fixed assets.

Key Responsibilities/Accountabilities

• Operationally responsible for account payable functions
• Manage the accounts payable function to ensure sound internal controls are in place within the accounts payable process.
• Ensure payments are adequately supported and appropriately authorized in line with policies and guidelines.
• Ensure payments processed and supporting documentation complies with the Income Tax Act and VAT Act.
• Ensure up-to-date Intercompany balance review & billing and follow closely on payment on a monthly basis.
• Monitor, prepare and post accruals for unpaid invoices where services have been rendered as advised by business units and ensure adequate provisions and month end allocations are made as applicable before close of each month

Monitoring and review of processes:

• Review and post all transactions for team members for payments for items or services procured on behalf of Stanbic IBTC group.
• Review of the fixed asset register to the general ledger, ensuring correctness of depreciation and asset classification.
• Monthly reconciliation of major vendor accounts
• Suspense account reconciliations - ensure that outstanding items are timeously cleared, resultant entries processed, and the amounts reflected in the general ledger appropriately supported.
• Review and reconcile the prepayment accounts while ensuring accurate amortization and that there are no un-amortised amounts.

Leadership:

• Ensure smooth run of month end activities, support and manage/monitor team in all month-end processes to ensure deadlines are met and there are no disruptions to day to day and month end activities.
• Playing a leading role in coaching and developing his/her team
• Effectively execute any other duties that may be assigned from time to time.

Qualifications and Experience

• Minimum of first degree in Economics, Finance or Accounting
• ACCA, ACA, CIMA, Dip IFRS or relevant Accounting/Finance qualification is required
• Minimum of 5 years’ experience in Finance, Internal Audit/Control
• In-depth understanding of International Financial Reporting Standards
• Working knowledge of SAP, Finacle, and GBM will be an added advantage

Knowledge/Technical Skills/Expertise
Technical Competencies:

• Financial and Accounting Control
• Interpreting Financial Statements
• Preparing Financial Statements
• Understanding IFRS
• Financial Consolidation
• Reconciling Financial
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