Career Jobs at Standard Bank Group

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 Manager, Tax and Regulatory Reporting

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

  • This position is responsible for ensuring compliance with the Bank of Tanzania’s financial reporting requirements
  • Preparation and review of the bank’s regulatory reports
  • Management of the bank’s taxation affairs
  • Capital management

Key Responsibilities/Accountabilities

Regulatory

  • Ensuring compliance with Bank of Tanzania and South African Reserve Bank (SARB) regulations
  • Manage and review the daily, weekly, monthly and quarterly regulatory reports to the Bank of Tanzania in accordance with the Bank of Tanzania’s regulations.
  • Manage and review monthly and quarterly reports for regulatory reporting to the SARB (BA 610).
  • Facilitate internal/external regulatory audit and Bank of Tanzania examination process by providing the information and explanations required.
  • Implementation and ensuring compliance with Basel II accord capital and regulatory requirements when adopted by Tanzania.
  • Liaison with Bank of Tanzania on all matters relating to regulatory reporting.
  • Preparation of statutory Financial statements for publication
  • Prepare quarterly competitor analysis and circulate to EXCO
  • Preparation of daily positions through MIS report and distribution to Management, also alert management in case of any breach

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Taxation

  • Remit statutory payments (PAYE, VAT, WHT, NSSF) and obtain receipts and certificates.
  • Manage compliance by SBTL with tax laws and all tax aspects including transfer pricing, withholding taxes, indirect taxes, PAYE and tax planning
  • Monitor tax compliance within SBTL.
  • Identification and evaluation of taxation risks within SBTL
  • Implementation of systems and processes to mitigate identified taxation risks.
  • Preparation of monthly and annual taxation computations and returns.
  • Review monthly deferred taxation calculations/ reconciliations.
  • New and existing product evaluation to determine taxation impact.
  • Optimisation of SBTL taxation expense, by identifying areas of tax savings.
  • Improve taxation knowledge within SBTL through communication and tax training where appropriate.
  • Review tax reconciliation in FIP.
  • Liaise with Tax Consultants on tax related matters including tax planning.
  • Liaison with Tanzania Revenue Authority on all matters relating to taxation.
  • Responsible for tax side of budgets and forecasts.
  • Review and sign off all tax related reconciliation accounts prepared monthly e.g. PAYE, WHT etc.
  • Liaison with Africa Tax Team.

Capital Management

  • Maintenance of adequate capital as required by Bank of Tanzania.
  • Capital management planning and forecasting, ensuring both Tanzania and South African requirements are met.
  • Optimisation of capital structure, ensuring appropriate mix of Tier I and Tier II capital.
  • Maintain a minimum capital base whilst ensuring compliance with minimum capital requirements and providing adequate capital for business growth.
  • Monitoring of legal lending limits; ensuring that this is not breached. Report discrepancies to direct manager.
  • Monitor capital adequacy levels and report discrepancies to direct manager.
  • Responsible for Capital side of budgets and forecasts

General

  • Liaison with External Auditors.
  • Liaison with BOT examiners and TRA auditors
  • To be responsible for own development and that of subordinates
  • To assist with regulatory queries and to provide mentoring and coaching where this is appropriate.
  • To develop line staff by assisting in the identification and addressing of training and development needs if applicable.
  • To provide relevant training, updates or guidelines to branches in conjunction with relevant line managers at the Bank.
  • To complete and be responsible for delivering against own balance scorecard in line with finance division’s balance score card.

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Preferred Qualification and Experience

  • BCom (Accounting/ Finance).
  • ACCA or CIMA.
  • Postgraduate diploma or certificate in taxation (an advantage)
  • Minimum of 4 years banking experience in a financial management position.
  • Knowledge of Tanzania Banking regulations.
  • Understanding of South African Banking regulations will be an added advantage.
  • Good understanding of Tanzania Taxation regulations.
  • Understanding of IFRS.
  • Working knowledge of accounting software. (Knowledge of SAP, Finacle will be an advantage.)

Knowledge/Technical Skills/Expertise

  • An appreciation and a good understanding of macro economics and external factors affecting the business strategies adopted, and market serviced by SBTL.
  • Ability to analyse and evaluate data for acceptability and correctness.
  • Analytical mind with strong orientation to financial analysis.
  • Ability and experience in communicating with all levels of management regarding management information needs

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