About Afreximbank: African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade.
For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. The Bank disbursed more than US$104 billion between 2016 and 2023. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
Job Summary:
The role is supposed to help the Bank to achieve its mission “stimulating a consistent expansion of and diversification of African trade so as to rapidly increase Africa’s share of global trade, while operating as a first class, profit oriented, socially responsible financial institution and a centre of excellence in African trade matters” by providing required support to the day to day accounting functions and all processes leading to the preparation of required IFRS compliant financial statements.
Key Responsibilities:
The role of the position holder will be to supervise the preparation, analysis and reconciliation of bank balances, banking liabilities, derivatives and related income and/or expense as may be required for the preparation of management accounts and statutory financial statements by implementing various processes for review and finalization of the Senior Manager-Finance and the Chief Finance Officer.
- Reconcile and analyse Treasury account balances, Money Market Investments Borrowings and related borrowing expenses on a monthly basis;
- Reconcile and analyse outstanding Derivative instruments and related income and/or expense on a monthly basis;
- Review bank reconciliations and clear all outstanding transactions in a timely manner;
- Responsible for performing reconciliations of treasury sub ledgers to the General ledger on a monthly basis;
- Provide IFRS technical support on treasury related transactions including accounting for derivatives and hedge accounting;
- Prepare reports and analyse for foreign exchange open position and interest rate gap analysis on a monthly basis;
- Prepare financial statements disclosures related to Treasury account balances.
- Support the audit processes within the Finance department.
Additional duties as may be assigned from time to time.
- Initiate and support the implementation of any enhancements to the SAP, Quantum Treasury Management System and/or Finacle systems, or any other Accounting system that may be in use from time to time, from a financial cycle perspective, to improve the efficiency of processes, effectiveness of systems and controls and the usefulness of financial information for making informed decisions;
- Ensure a continuous improvement to financial processes through appropriate scoping, identifying required upgrades and ensuring properly managed enhancement as may be required by the needs of specific projects throughout the Bank e.g. reporting systems to fit particular Bank products;
- Work alongside the Core Banking ERP systems Consultants to ensure that accounting controls within the system are working well, that all users are trained, putting in place procedures to overcome routine problems and to ensure the ongoing integrity and unbroken flow of required data within the system;
- Preparation of interim financial statements;
- Any other duties as may be assigned by senior management.
Compliance Responsibilities
- Understand and adhere to the Bank's AML, Regulatory and Conduct Compliance policies and procedures, notably;
- Staff Handbook (has code of conduct provisions)
- Anti – Money Laundering (AML), Counter Financing of Terrorism and Counter Proliferation Financing
- Conflicts of Interest and Policies on Staff Involvement in External Engagements/Activities
- Anti- Bribery & Corruption
- Insider Trading Guidelines
- Report any suspicious or non-compliant activities or matters relating to the Bank’s staff or the customers to the Compliance Department;
- Complete the Annual Compliance Training/Assessment.
Minimum Qualifications:
- A good first degree in accounting is a must;
- Completion of Articles with a Big Four firm is a must. Chartered Accounting (CA) qualification in progress is also required.
Years & Nature of Experience:
- Sound experience of at least 5 years of which at least 3 years within one of the Big Four Accounting firms and demonstrable knowledge of IFRS and related accounting rules is a must. Exposure to the Banking or financial services industry whilst with the accounting firm is an added advantage;
- Ability to communicate and function in a culturally diverse and change oriented setting;
- Excellent verbal and written communication skills in English or French. Knowledge of the Bank's other working languages is an added advantage.
- Proven experience in ERP systems, especially SAP and/or Finnacle;
- Willingness to travel extensively and to work long hours where required in order to achieve the Bank's objectives;
- Demonstrated leadership capabilities, including ability to organize and manage human resources to attain goals.
Technical Competencies:
Proficiency
- Experienced professional with significant experience in own field.
- Operates autonomously and is generally responsible for an end-to-end process within its own area, including managing and coordinating people and resources.
- Acts as a first escalation point across Afreximbank for technical queries in its own area and is expected to produce finalised technical material.
Leadership Skills
- Acts as a subject matter expert in own area, providing technical guidance to colleagues across Afreximbank while maintaining required integrity.
- Coaches, motivates and mentors junior colleagues.
- May have formal line management responsibilities for a limited number of junior professionals and clerical staff.
- Identifies and addresses training needs for the team, including preparing and delivering training programmes as directed by senior management.
Interpersonal Skills
- Builds and manages effective working relationships both internally and (where relevant) externally at different organisational levels.
- Influences decisions at functional level and may support external negotiations.
- Presents complex technical information to diverse audiences in a clear and concise manner for purposes of driving results.
Problem Solving & Business Impact
- Solves non-routine and occasionally complex problems based on sound critical analysis, technical knowledge and prior experience.
- Acts with flexibility as an escalation point for technical issues encountered by junior colleagues.
- Impacts its own function by managing a specific area or sub-function, including inputting to functional strategy and policies and providing technical expertise, advice and guidance across the organisation.
Supporting Afreximbank Mandate
- Has a solid understanding of Afreximbank’s products and services and how their own area contributes to Afreximbank’s values and mission.
- Has a good knowledge of the Continent’s political, economic and trade landscape and is able to offer well informed opinions on the subject internally and to external counterparts.
- Identifies practical ways in which Afreximbank’s values and mission can be cascaded to junior colleagues and external parties.
Afreximbank’s Core Values:
- Commitment to Africa and supporting the emancipation and empowerment of Africans;
- Uncompromising integrity;
- Passion for Learning and Drive;
- Teamwork;
- Trust and Respect for the Individual;
- Innovation, Excellence and Flexibility;
- Professionalism and Responsiveness.
