Finance Officer - Bank Reconciliation (AfCFTA) at the African Union (AU)

The African Union (AU) is a continental body consisting of the 55 member states that make up the countries of the African Continent. It was officially launched in 2002 as a successor to the Organization of African Unity (OAU, 1963-1999). We are an Integrated, Prosperous and Peaceful Africa, driven by its own citizens and representing a dynamic force in the global arena.

We are recruiting to fill the position below:

Job Title: Finance Officer - Bank Reconciliation (AfCFTA)

Requisition ID: 1843
Location: Accra, Ghana
Reports to: Principal Accounting and reporting Officer 
Directorate/Department/Organ: Finance Directorate
Number of Direct Reports: 2
Job Grade: P2
Contract Type: Regular

Purpose of Job

• To provide frontline operational support for the maintenance of accurate and complete cash balances in the general ledger and trial balances in line with the AU financial rules and regulations and International Public Sector Accounting Standards (IPSAS) at the division.

Main Functions

• Leads the investigation and follow-up of all outstanding items on bank reconciliation statements and reports to the Unit Manager on financial reports.
• Oversees and analytically identifies old and uncollectible amounts on the bank reconciliation and advises how best to resolve them.
• Provides a monthly summary of bank reconciliations for review by the Financial Reporting Unit Head, in addition to verifying the reliability and accuracy of bank balances in the general ledger and trial balances.
• Works closely with the Financial Management Unit and ensures that proper internal controls are maintained in the opening and closing of new and old bank accounts.
• Monitors bank charges and all banking activities to detect irregularities and fraud.
• Participates in statutory and special audits of AfCFTA.
• Liaise with the Finance Officer in charge of accounts receivable and accounts payable to investigate and correct long outstanding balances recorded from the bank reconciliation
• Ensures that cash balances are recorded in accordance with International Public Sector Accounting Standards (IPSAS)
• Ensures timely reconciliation of bank accounts
• Maintains accurate and complete cash balances in the general ledger and trial balances in accordance with AU RIF and IPSAS.

Specific Responsibilities

• Leads the investigation and follow up of all outstanding items on bank reconciliation statements and report to the Principal Accounting and reporting Officer;
• Supervises and analytically identify old and irrecoverable amounts on bank reconciliation and advise how best to resolve them;
• Provides monthly summary of bank reconciliations for review by Principal Accounting and reporting Officer in addition, verify the reliability and accuracy of bank balances in the general ledger and trial balances;
• Works closely with Financial Management Unit at AfCFTA and ensure that adequate internal controls are maintained in the opening and closing of new and old bank accounts;
• Monitors bank charges and all banking activities in order to detect irregularities and fraud; 
• Participates in statutory and special audits of African Union Commission;
• Liaises with the Finance officer in charge of Accounts Receivable and Accounts Payables to investigate and correct long outstanding balances posted from bank reconciliation;
• Ensures that cash balances are accounted for in accordance with IPSAS;
• Ensures the timely reconciliation of Bank Accounts;
• Maintains accurate and complete cash balances in the general ledger and trial balances in line with the AU financial rules and regulations and International Public Sector Accounting Standards (IPSAS);
• Performs other related duties as required.

Academic Requirements and Relevant Experience

• Bachelor's Degree in Accounting, Auditing, Finance or related field with 5 years of relevant work experience in a national or international organization OR Master’s Degree in Accounting, Auditing, Finance or related field with a minimum of 2 years of relevant work experience in a national or international organization.
• A professional qualification such as CPA, CA, ACCA, CIMA, Expert Comptable or equivalent is an added advantage.
• Hands-on experience in preparing bank reconciliation is required.
• Experience with financial systems/finance module of enterprise resource planning (ERP) such as SAP or similar ERP is required.
• Experience with IPSAS/IFRS in a large organization is highly desirable.
• Experience in handling internal or external audits.
• Proven experience in processing payments using ERP preferably SAP.

Required Skills:

• Ability to work in a multicultural environment; 
• Ability to work independently to meet critical and competing deadlines (multi-tasking), to produce high quality work in short timeframes;
• Excellent interpersonal/teamwork skills,
• Must be computer literate with a working knowledge of common computer applications and systems; 
• Excellent drafting, reporting, communication and presentation skills.
• Strong program/project management skills 
• Strong analytical skills 
• Excellent planning and organizing skills 
• Ability to liaise with a diverse range of people and stakeholders;
• Applicants must be proficient in one of the African Union working languages (Arabic, English, French, Portuguese or Spanish). Knowledge of one more or several other working languages would be an added advantage. 

Leadership Competencies:

• Strategic Insight
• Developing Others
• Change Management
• Managing Risk

Core Competencies:

• Teamwork and Collaboration
• Accountable and Complies with Rules
• Learning Orientation

Functional Competencies:

• Analytical thinking and problem solving
• Job Knowledge and information sharing
• Drive for result
• Continuous Improvement Focus.

Tenure of Appointment

• The appointment will be made on a regular term contract for a period of three (3) years, of which the first twelve months shall be considered as a probationary period. Thereafter, the contract will be for a period of two years renewable, subject to satisfactory performance and deliverables.

Gender Mainstreaming

• The AU Commission is an equal opportunity employer and qualified women are strongly encouraged to apply.

Remuneration
Indicative basic salary of US$  31,073.00 (P2 Step1) per annum plus other related entitlements e.g. Post adjustment (57% of basic salary), a Housing allowance of US$ 21,832.68 (per annum), and education allowance (100% of tuition and other education-related expenses for every eligible dependent up to a maximum of US$ 10,000.00 per child per annum), for internationally recruited staff and a maximum of $3,300 per child per annum for locally recruited staff.

Application Closing Date
30th June, 2023.