Cost Management Officer

Accion Microfinance Bank Limited

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Established in 2006, Accion Microfinance Bank Limited began operations in May 2007 on license from the Central Bank of Nigeria. 

We are committed to an attitude and culture of positively influencing the environment around us both as an organization and individually through our people.

At Accion Microfinance Bank, we believe people are not just our best assets: the right people are. 

Our people are the success of the bank - today and in the future.

Accion MfB employees are talented, dedicated, hardworking, committed, and experienced people hired for their skills and knowledge.

Click apply if you want to join our team.

 

Summary/Objective

  • The ideal candidate will coordinate all activities relating to accurate and timely reporting of historical financial performance and communicate same to stakeholders in the relevant accounting standards and formats.
  • Candidate will also have responsibility for coordinating regulatory reporting and compliance with zero infraction tolerance.

Cost Management General Responsibilities

  • Elimination of waste and improve process efficiency by providing and driving a disciplined expenditure justification framework and supporting operating units with better-informed testing statistics.
  • Drive and sustain bank-wide cost management culture and ensuring compliance with cost management policies, procedures, and frameworks.
  • Provide a basis for relating operating expenses to budgets and ensuring that cost budget figures are effectively used to drive business.
  • Coordinate all expenditure approval and payment activities of the bank in a most efficient manner.
  • To ensure completeness and accuracy of transaction processed.

Cost Management Staff Key Responsibilities

  • Review key expenditure lines to appreciate their nature and behavior with a view to eliminating waste.
  • Review work process of key operating units to optimize outputs, and explore alternative ways of doing same work.
  • Propose to Chief Finance Officer new frameworks for incurring given expenses within the bank.
  • Processing of expense tickets to ensure proper approvals & coding.
  • Representing Chief Finance Officer in tender sessions.
  • Provide a rational and objective basis for appraising expenditure related investments proposal, and measuring post-implementation outcomes.
  • Review the procurement activities of Accion and suggest on alternate cost-saving methods of procurement.
  • Understand and review weekly (Cost Owners) expense accounts with a view to ensuring completeness and appropriateness of reporting.
  • Monitoring of branches budget compliance by updating the Budget Monitor with the actual CAPEX cost
  • Conduct of periodical market survey and intelligence for best prices and practices.
  • Liaise with branches to ensure proper reporting and posting of expense transaction.
  • Recommend changes to expenditure policies and procedures from time to time.
  • Applying applicable Withholding Tax (WHT) rates on expense payment
  • Stamping of expense tickets to ensure reporting to the appropriate Expense account.
  • Recording all processed expenses into a memorandum (Excel) records format.

Due Process Strategic Objectives

  • Centralized responsibility for Accion’s acquisition of assets and services in a manner that will offer the highest value for the bank’s money. Do more with less.
  • To relieve operating units from the burden of managing procurement/expenditure responsibilities.
  • Due Process General Responsibilities
  • Elimination of waste and improve process efficiency by providing and driving a disciplined tendering process.
  • Ensure that due process is followed by in acquisition of assets and services by the bank.
  • Coordinate all tender meetings for the bank and ensure that appropriate approvals are sought in line with bank’s policy.
  • Prequalify vendors/contractors and maintain the bank’s vendors/contractors database.

Unit Staff Key Responsibilities

  • Convening and co-coordinating the banks tender committee meetings.
  • Seeking approval from appropriate authorities in line with bank’s policy for acquisition of assets and services by the bank.
  • Maintaining independent vendors/suppliers database from that of Head Office Administration Group.
  • Liaising with equipment maintenance unit of Corporate Services and service providers and branches for the effective operation of the annual maintenance service contracts.
  • Working with Corporate Services on processing and administration of annual Maintenance Service Contracts (MSC) on service/ office equipment.
  • Maintain records of all transactions relating to Contract service providers bank-wide.
  • Confirm the service qualities of all service providers and provide a service rating per all vendors in the contract.
  • Attend to contractors and vendors on issues on service contracts.
  • Scheduling and attending of tenders for procurement in line with policy including preliminary briefings and communications to tender committee members with due notice.
  • Coordinating the price intelligence supervision function.

Job Requirement:

  • First degree in Accountancy, Finance, Economics or any related numerate discipline with a minimum of the second class or its equivalent.
  • Professional certification especially in ACCA or ACA.
  • MSc or MBA will be an added advantage.

Note: 

  • Only qualified candidates will be shortlisted and contacted.

 

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Summary

Company

Accion Microfinance Bank Limited

Job Level

Experienced (Non-Manager)

Location

Lagos

Specialization

Accounting / Audit / Tax

Job Type

Full-Time

Minimum Qualification

Degree

Preferred Years of Experience

3 - 5 years