Job Description
and pensionable employees of Kenya Pipeline Company upon retirement or withdrawal from employment as well as a relief for the dependents of the deceased employees.
Efforts have been put in place by the Board of Trustees and the scheme’s stake holders towards the realization of this dream.
The DB Scheme was established under an irrevocable trust declared from 1st January and was closed to new entrants and accrual of benefits with effect from 30th June .
Upon the closure of the DB scheme, the DC Scheme was born and established under an irrevocable trust from 1st July , which is its commencement date, and the governance of the scheme is vested on the Board of Trustees
Accountant
MAIN PURPOSE OF THE JOB
The Position reports to the Head of Benefits Administration and Accouants and is responsible for managing the financial transactions, ensuring accurate and timely financial reporting, and supporting the Head of Benefits Administration and Accounts in maintaining the financial health of the pension fund.
This role requires a strong understanding of accounting principles, pension fund operations, and finance management.
Key Responsibilities
Financial Reporting:
Prepare and ensure timely and accurate monthly, quarterly, and annual financial statements.Ensure preparation of financial reports for the board of trustees, regulatory bodies, and other stakeholders.Maintain and reconcile the general ledger and subsidiary accounts.Review financial statements for accuracy and legal compliancePrepare and file tax returnsEnter accounting related information intbusiness logsInspect account books for efficiency and accuracyOrganize and update financial recordsRecommend ways treduce costs and enhance revenuePerform monthly bank settlements Budgeting and Forecasting:
Preparation and coordinating the management of the annual budget.Monitor budget performance and provide variance analysis Support the development of financial forecasts and long-term financial plans. Budgeting and Forecasting:
Preparation and coordinating the management of the annual budget.Monitor budget performance and provide variance analysis Support the development of financial forecasts and long-term financial plans. Compliance and Audit:
Ensure compliance with regulatory requirements, accounting standards, and internal policies.Coordinate the internal and external audits, including preparation of audit schedules and responding taudit queries.Maintain accurate and organized financial records and documentation. Cash Flow Management:
Monitor and manage cash flow tensure liquidity requirements are met.Prepare cash flow forecasts and reports. Contribution and Benefits Processing:
Processing of the employee’s payrollOversee the processing of contributions from employers and members.Ensure timely and accurate processing of benefit payments tmembers.Reconcile contributions and benefits accounts. System and Process Improvement:
Coordinate the implementation and maintenance of accounting systems and software.Identify and recommend improvements tfinancial processes and controls. Stakeholder Communication:
Prepare documentation for external auditorsLiaise with internal and external stakeholders, including auditors, regulators, and investment managers.Provide financial information and analysis tsupport decision-making. Staff growth & Development :
Facilitate direct reports develop skills and advance their career within the organizationMentor and guide direct reportsDevelop measurable goals and performance indicators for the departmentSchedule regular Performance reviews tprovide feedback and track progress In addition tthe above specified responsibilities, you may be required tundertake any other duties as may be assigned by yourSupervisor tmeet the organizational needs. JOB SPECIFICATIONS:
Bachelor’s degree in Finance, Accounting , Economics Business Administration or related Field.
Masters in Finance, Accounting , EconomicsBusiness Administration as an added advantage.Professional Qualification: CPA (K) or ACCAProficient in a variety of computer software applications including MicrosoftOffice Suite (Word, Excel, Power point, Outlook, and Access) as well as office management software (ERP etc.)Work Experience: 3 – 4 years in the Pension industryTechnical skill: Proficiency in finance management software.
Knowledge ofPension fund regulations and investment Competencies
Strategic thinkingAnalytical skillsDecision making skillsAttention tdetailIntegrityAdaptabilityStrong organization skillTeam leadershipCustomer orientationOutstanding communication skills