The Finance department is responsible for measuring and monitoring the institution’s assets, liabilities, income and expenses. Moreover, preparing and presenting the financial transaction and managing the liquidity and treasury dealings.
The main responsibilities are:
• Develop and implement the accounting system of the institution and maintain its books of accounts;
• Make all the treasury dealings starting from institution of treasury with counterparties;
• Monitor treasury transactions and dealings and ensure contentious improvements in risk management related to liquidity, interest rate, and other risks;
• Monitor the liquidity positions of currency holdings;
• Deal confirming and settlement;
• Ensure best uses of the different financial portfolio build up of the institution, i.e. ensure that financial resources are utilized for the core business of the institution by determine optimum investment strategies;
• Establish and improve the systems of financial recording and reporting;
• Produce accurate, complete and timely financial statements/information;
• Ensure that head office and branch accounts are consolidated;
• Analyse financial statements and advise management on its implication together with possible course of action;
• Initiate and conduct studies to improve financial reporting systems and cost effective utilization of financial resources and
• Monitor and control budgetary allocation and expenditures through the provision of regular reports, reviews, and data.