Head of Business Finance & Regulatory Reporting at NBC Bank Tanzania

NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.

Job Summary

To provide strategic leadership and oversight of Bank’s business finance function and regulatory reporting obligations. Understand and challenge the performance of business, both on an entity and on a functional basis, via highly effective performance management information and supporting key business decisions through providing detailed analysis of the financial implications of such decisions

Job Description​

Accountability:  Business Finance – Productivity and Cost Management 15%

• To understand the key drivers of income & cost and develop and report financial and other performance measures required by local management & Group to monitor profitability of major products and of individual functions
• To work on scenarios to produce reports that enable the quantification of impact of changes in economic variables (interest, exchange, inflation) on our performance
• To support the business in the production of specific technical elements of management accounts including Regulatory & Statutory Reporting.
• To help produce the financial business case for investment projects in NBC and to monitor benefits by gathering data and calculating costs, benefits and returns
• Undertake key elements of strategic management activity, involving the identification of how value is created, destroyed and driven in the function
• Support management in identifying areas of opportunities, threats, risks & challenges within banking & competitor environment, by providing both financial & non-financial information
• To challenge plans to commit costs, identifying areas for cost efficiency and managing the delivery of benefits
• Drive the productivity and cost management agenda for the bank across the functions including IT, Sourcing, projects and other areas to improve efficiency.
• Review, analyze and track business cases for cost spend to ensure desired / committed returns are realized
• Drive automation of cost analytical reviews / insights dashboards for each cost center and business to identify areas where the bank can optimize.
• Review the bank’s cost allocation methodology to always ensure it is reflective of the cost of driving units.
• Manage the business performance reporting of costs both operating and capital to support delivery of financial targets.
• Carry out regular communication with the various business functions on issues relating to costs, business performance and financial targets, provide commentary & improvement initiatives such as cost saving initiatives.
• Support the check and challenge of Group recharges, to ensure that we receive value added services at the right cost
• Review and update cost allocation drivers at segments and branch level to ensure they are reflective of the cost support provided
• Provide the various functions with information required to enhance the business strategy
• Support the preparation of cost segmental reports in conjunction with the Finance Business Partners.
• Support the RAF, MTP & STP process by providing analytical drivers and processes of the cost plans
• Preparation of ALCO, Board, MBR, CMC inputs that relate to the various functional costs
• Carry out Revenue Assurance on a monthly to ensure income leakage is managed on the assigned Business income channels.
• Analyze and provide a detailed functional cost including actual achievements against STP/RAF targets.
• To challenge plans to commit costs, identifying areas for cost efficiency and managing the delivery of benefits
• Responsible for FTP, cost allocation and cost apportionment process and methodologies to ensure a fair distribution of economic benefits & costs across functions

Accountability: Business Partnership – 25%

• Provide functional heads with performance data and all MI requirements which will help them to analyze trends, and support them in driving business performance
• Monitor the bank Capital Adequacy ratios by advising on efficient utilization of WRAs
• Manage the STP/MTP and strategy setting for the bank
• To understand the key drivers of income and develop and report financial and other performance measures required by local management to monitor profitability of major products and of individual functions
• Drive automation of various performance reports / inputs to aide business decisions
• To monitor actual performance of business against target, analyze variances, both on entity and on a functional basis,
• To provide country & functional management information to function heads, including commentaries on variances to ensure business functions are accountable for their performance
• To respond to routine and ad hoc information requests from Finance Management/Function heads regarding business performance
• To work on scenarios to produce reports that enable the quantification of impact of changes in economic variables (interest, exchange, inflation) on our performance
• To support the business in the production of specific technical elements of management accounts including Regulatory & Statutory Reporting.
• To help produce the financial business case for investment projects in NBC and to monitor benefits by gathering data and calculating costs, benefits and returns
• Undertake key elements of strategic management activity, involving the identification of how value is created, destroyed and driven in the function
• Support management in identifying areas of opportunities, threats, risks & challenges within banking & competitor environment, by providing both financial & non-financial information
• Participate/challenge on FTP, cost allocation and cost apportionment process and methodologies to ensure a fair distribution of economic benefits & costs across functions
• Provide functional heads performance data and all MI requirements which will help them to analyze trends, and support them in driving business performance
• To monitor actual performance of business against target, analyze variances, both on entity and on a functional basis,
• To provide country & functional management information to function heads, including commentaries on variances to ensure business functions are accountable for their performance
• To respond to routine and ad hoc information requests from Finance Management/Function heads regarding business performance.

Accountability: Regulatory Reporting – 20%

• Ensure preparation of the Daily/weekly/bi-weekly  Bank of Tanzania Returns
• Ensure Preparation of the Monthly Bank of Tanzania Returns
• Ensure Preparation of the Quarterly Bank of Tanzania Returns
• Ensure Prepare quarterly return to South Africa Reserve Bank and the Bank of Tanzania as may require
• Ensure Prepare / Review monthly capital reports
• Ensure Preparation of reports and any other workstreams (as may be requested).
• Completion of monthly and quarterly key risk assessments related to Statutory Reporting
• Ensure all returns are submitted by their due dates
• Ensure you keep abreast of the Changes being made to the BOT requirement.
• Ensure the Business is well aware of the Changes / amendments to the Returns being made to BOT.
• Any other issues as may be assigned from time to time.
• Preparation of quarterly publication reports
• Maintain a high level of accuracy in the regulatory returns
• Preparation of annual financial statements in accordance with IFRS
• Provide leadership and supervision of the regulatory reporting
• Provide input to individual and team performance against agreed objectives
• Improve personal behaviour rating for each team member and self

Accountability: Stakeholder Management – 15%

• Ensure effective and excellent communication and working relationships with colleagues in the department, the bank, group, and external auditors.
• Attend meetings and engage with Senior managers and other staff in the bank to facilitate understanding of cost and business performance
• Manage queries from external stakeholders that relate to costs and performance

Accountability: Risk Management control and Compliance – 10%

• Understand the appropriate policies & standards applicable to role.
• Understand and manage risks and risk events (incidents) which are faced in the role thereby contributing to the adherence to the Risk and Control Framework.
• Ensure that practices and controls required by policies are communicated to all relevant colleagues
• Ensure that independent oversight, on a proactive basis takes place of the risk performance (including related control effectiveness) principal risks.
• Maintaining procedures to monitor compliance with policies and any controls required by them

Accountability: Team Leadership/Contribution -15%

• Provide leadership to the Business Performance and Regulatory Reporting Team
• Provide honest, direct and constructive feedback to fellow team members.
• Share knowledge experience and best practice with team members and other Finance colleagues
• Manage the provision of training and support to the finance team and other areas of the bank to build knowledge and capacity around accounting standards and practices.
• Proactive engage members of the bank’s senior leadership team committed to achieving success and providing support for colleagues.
• Pursue your own personal development to increase job effectiveness

Technical skills / Competencies

• Service Delivery – critical
• Strong financial management skills
• Regulatory Reporting knowledge
• Stakeholder management
• Personal and interpersonal effectiveness
• Delivery Management/Drive for results
• Planning and Organizing
• Team building/player
• Influencing (Coaching & Facilitation)
• Business analytics
• Business Awareness
• Process design and process mapping capability
• Project management – strong skills in producing, monitoring and delivering against baseline plans
• Analytical skills
• Risk management – identifying, recording and managing of risks
• Innovative problem solving – ability to challenge the status quo and drive change in behaviors, HR process and instill a culture of governance adherence.

Knowledge, Expertise and Experience

Essential

• Computer Literacy - Word, Excel & PowerPoint 

Preferred

• Bachelor degree in Finance qualifications.
• CPA (T) is a necessary requirement
• Experience in a dynamic complex multi-disciplined business environment where change is constant and demanding
• Stakeholder / customer relationship management experience
• At least 7 years’ banking experience with at least 4 years in senior role

Competencies: (Maximum of 8 competencies)

• Planning and organization skills
• Deep understanding of Regulatory Reports and BOT regulations
• Ability to think creatively and identify innovative solutions
• Excellent comprehension skills to understand and interpret financial data and economic trends.
• Strong ability to view issues from a risk & control perspective
• Highly numeric/strong analytical and problem-solving skills
• Ability to work well under pressure, working accurately with attention to detail, and meeting deadlines
• Up to date knowledge of all applicable tax laws and some considerable understanding of accounting technical issues (International Accounting Standards/IFRS, etc.)
• Demonstrated ability to maintain and enhance relationships with external stakeholders and staff to achieve work goals.

Qualifications

Analytical Thinking - Advanced (Meets all of the requirements), Digital familiarity (Meets some of the requirements and would need further development), Enabling team success (Meets all of the requirements), Ethics and values (Meets all of the requirements), Financial and Performance Reporting (Meets all of the requirements), Financial Experience, Openness to change (Meets some of the requirements and would need further development), Postgraduate Degrees and Professional Qualifications - Financial Sciences, Quality assurance (Meets all of the requirements)