Head Finance and Business Operations at Deposit Protection Fund of Uganda

1. JOB REF: DPF2.03
2. POSITION: Head Finance and Business Operations
3. GRADE: Head of Department
4. REPORTS TO: Chief Executive Officer
5. DIRECT REPORTS:
i. Manager/Assistant Manager of Business Operations
ii. Manager/ Assistant Manager of Finance
iii. Manager/Assistant Manager of Strategy and Risk (Secondary)

6. JOB PURPOSE:

Identify and assess compliance issues, implement effective controls, monitor day-to-day regulatory quality at the transaction level. Has responsibility for the Fund’s accounting and financial planning and reporting.

7. KEY RESPONSIBILITIES:

• Efficient management of depositor payouts, depositor claims and resolution in case of Bank failure;
• Performance reports and records of contributing Institutions;
• Oversee financial operations of the Fund;
• Custody and proper management financial records of all Fund investments;
• Establish financial accounting, reporting and budget management systems;
• Conduct analysis of financial risks and benefits on business initiatives and strategy;
• Coordinate creditors’ meetings in case of liquidation;
• Coordinate general meetings of members during liquidation;
• Ensure compliance with legislative requirements relating to financial matters;

 

8. DUTIES:

• Oversees efficient depositor payout of protected deposits, Manages depositor claims & resolution in case of Bank failure;
• Reviews the depositor payout manual to ensure it is up to date and operational;
• Ensures proper depositor records are kept in all contributing institutions to facilitate depositor payout process if a need arises;
• Oversees the implementation of Depositor Unique Identifiers (Single Customer view);
• Proposes decisions on the conduct of procedure and mode of payment of insured deposits in case of a bank’s bankruptcy or liquidation;
• Oversees site examinations of Contributing Institutions with the purpose of monitoring, analyzing, and strengthening the financial condition;
• Analyzes Onsite and offsite reports on the performance of Contributing Institutions from Bank of Uganda and advise Chief Executive Officer;
• Oversees the conduct of simulations for depositor payout;
• Cooperates with international organizations and institutions in connection with deposit insurance, and gets familiar with the deposit insurance systems in other countries;
• Determines the methodology for measurement and calculation of the potential risk of the Deposit Insurance Fund at a bank and the entire banking sector level;
• Determines the standards for banks’ reporting on deposits and placements;
• Furnishes reports to the Bank of Uganda concerning the settlement of banks’ obligations for payment of deposit insurance premium, for each bank individually;
• Ensures accurate payments are received and penalties are issued to defaulting institutions;
• Establishes and periodically tests the collective software solution to support depositor payout;
• Notifies depositors and other stakeholders about the deposit insurance, determines visual appearance and format of the information material, prints and distributes brochures, posters and leaflets to banks, etc.;
• Participates in meetings with Bank of Uganda and other regulatory authorities regarding the problem and troubled Contributing Institutions including informational meetings, financial assistance, and make recommendations to the CEO;
• Ensures the Cash Book and General Ledger are always up-to-date;
• Ensures that monthly reconciliations are undertaken in respect of all the Fund’s accounts and balance sheet control Accounts;
• Ensures custody and proper financial records of all Investments;
• Oversees preparation of Fund financial Statements and ensures timely financial reporting;
• Ensures fixed asset register is properly maintained;
• Coordinates external and Internal Audit activities;
• Ensures successful implementation of IFRS9 and compliance to all International Accounting Standards (IAS) and International Financial Reporting Standards;
• Establishes and periodically tests financial accounting and reporting as well as Budget management systems
• Leads on financial fraud prevention and detection and to annually report on such matters;
• Implements recommendations on the operation of the financial control systems and other matters by Internal and External Auditors;
• Oversees preparation of DPF Annual Work Plans and Budget and ensure that they are monitored;
• Participates in activities of liquidation and recoveries procedures of banks and contributing institutions in accordance with legal regulations;
• Works with Information Technology department to develop, implement and improve systems for payroll management and depositor payouts.

9. EXPECTED OUTPUTS:

• Efficient and effective Depositor payouts and claims;
• Efficient and effective liquidation and recoveries processes;
• Depositor Unique Identifiers (Single Customer view);
• Presentations to the Executive Management and/or the Board of Directors;
• Accurate and timely financial statements, records and annual reports;
• Implementation of IFSR9 and IAS at the Fund.

10. COMPETENCIES:
11. Technical Competencies

• Budgeting, forecasting, statistics skills;
• Financial reporting, analysis and proficiency using financial systems;
• Payables/receivables, payroll management, taxation, fiscal and external funds accounting;
• Strategy and risk management;
• Crisis and project management.

1. Behavioural Competencies

• Accountability and Dependability: Takes personal responsibility for the quality and timeliness of work and achieves results with little oversight;
• Transparency and Integrity: Earns others’ trust and respect through consistent honesty and professionalism in all interactions;
• Team spirit and collaboration: Promotes cooperation and commitment within the team to achieve the Fund’s organizational goals and deliverables; Builds constructive working relationships characterized by a high level of acceptance, cooperation, and mutual respect
• Adaptability and Flexibility: Adapts to changing needs, conditions, and work responsibilities;
• Self-Management and thoroughness: effectively manage own time, priorities, and resources to achieve goals; Ensures that work is complete and accurate and independently follows up with others to ensure that agreements and commitments have been fulfilled;
• Communication: Shares and receives information using clear oral, written and interpersonal communication skills;
• Stress Tolerance/tact: Maintains composure in highly stressful or adverse situations, diplomatically handles challenging or tense interpersonal situations;
• Employee Engagement and enthusiasm: Demonstrates commitment to the job, colleagues, the Fund and its mission by acting in ways that further the accomplishment of its goals;
• People Management: Leads and engages people to maximize organizational and individual performance through alignment with the Fund’s mission and attainment of strategic and operational goals.
• Coaching and Mentoring: Enables co-workers to grow and succeed through feedback, instruction, and encouragement. Influences others to be excited and committed to furthering the Fund’s objectives; ability to gain other’s support for ideas, proposals, and solutions.

11. MINIMUM QUALIFICATIONS AND EXPERIENCE

• A First Class or Upper Second Class degree in business administration, finance, accounting or other relevant field is essential;
• Master’s degree in finance, accounting or other relevant field is essential;
• Professional qualification in CPA with active license is essential;
• 8+ years of experience in banking and finance is desirable;
• Demonstrated experience with financial reporting and accounting principles, financial sector regulation and compliance requirements is desirable.

12. DISCLAIMER & APPROVALS:

The preceding job description is not designed to be a complete list of all duties and responsibilities required of the Head Finance and Business Operations.

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