Accountant at Kenya Pipeline Company Retirement and Benefits Scheme

  • Kenya
  • Permanent
  • Full-time
  • 2 months ago
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 1977 and was closed to new entrants and accrual of benefits with effect from 30th June 2006. Upon the closure of the DB scheme, the DC Scheme was born and established under an irrevocable trust from 1st July 2006, which is its commencement date, and the governance of the scheme is vested on the Board of TrusteesAccountantMAIN PURPOSE OF THE JOBThe 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 compliance
  • Prepare and file tax returns
  • Enter accounting related information intbusiness logs
  • Inspect account books for efficiency and accuracy
  • Organize and update financial records
  • Recommend ways treduce costs and enhance revenue
  • Perform 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 payroll
  • Oversee 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 auditors
  • Liaise 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 organization
  • Mentor and guide direct reports
  • Develop measurable goals and performance indicators for the department
  • Schedule 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 your
  • Supervisor tmeet the organizational needs.
JOB SPECIFICATIONS:
  • Bachelor's degree in Finance, Accounting , Economics Business Administration or related Field. Masters in Finance, Accounting , Economics
  • Business Administration as an added advantage.
  • Professional Qualification: CPA (K) or ACCA
  • Proficient in a variety of computer software applications including Microsoft
  • Office Suite (Word, Excel, Power point, Outlook, and Access) as well as office management software (ERP etc.)
  • Work Experience: 3 – 4 years in the Pension industry
  • Technical skill: Proficiency in finance management software. Knowledge of
  • Pension fund regulations and investment
Competencies
  • Strategic thinking
  • Analytical skills
  • Decision making skills
  • Attention tdetail
  • Integrity
  • Adaptability
  • Strong organization skill
  • Team leadership
  • Customer orientation
  • Outstanding communication skills
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