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Job Title:   Regulatory Reporting Officer (Fresher Jobs)

Organisation: Standard Chartered Bank (Stanchart)

Duty Station:  Kampala, Uganda

About US:

Standard Chartered PLC is a British multinational banking and financial services company headquartered in Hong Kong, China. It operates a network of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) across more than 70 countries and employs around 87,000 people. It is a universal bank with operations in consumer, corporate and institutional banking, and treasury services. Despite its UK base, it does not conduct retail banking in the UK, and around 90% of its profits come from Africa, United Kingdom, United States and the Middle East. Standard Chartered Bank Uganda is the longest established international bank in the country; the first branch was opened in August 1912. We had 11 branches up to 1972 and retained only one branch during the turbulence of the 70s. In 1998 we acquired 4 branches of former Cooperative Bank in November 1999. Standard Chartered Bank Uganda today has a network of 11 branches in Kampala, Jinja, Mbale, Mbarara and Gulu. Standard Chartered Bank Uganda has 29 ATMs and over 600 staff.

Job Summary:  The Regulatory Reporting Officer will;

• Provide timely and accurate reports which reconcile to the underlying records.
• Manage timely production of SCBUL financial, statutory, and regulatory reports.
• Ensure standardization of reports wherever possible (and best practice in report production/information provision).
• Review and maintain financial reporting systems to ensure high quality of financial data.
• Ensure reporting is done in compliance with international standards, local statutory & regulatory guidelines, and group policies.
• Monitor compliance with all international standards, local statutory and group policies, and guidelines, and report any potential breaches in time for remedial action.
• To undertake periodic self-assessment on key controls to assess the proper functioning and adequacy of existing controls.
• Assist in coordinating, facilitating, and promoting understanding of operational risk and implementation and management of OR within the Unit.
• Proactively anticipate and plan for likely changes in the Regulatory Reporting environment.
• Coordination of the annual Bank of Uganda inspections and external audit information requests

Key Duties and Responsibilities:

Local Regulatory

• Perform first cut detail analysis and review of all regulatory reports, making the necessary corrections before submission to SRM, FC & CFO
• Deliver accurate and timely financial and statistical information to the Central Bank.
• Liaise with Central Bank on issues arising from financial, statistical, and other reports.
• Ensure that statutory accounts are drawn up in accordance with International Financial Reporting Standards (IFRS) and local requirements and in a timely manner.
• Prepare / review statutory and regulatory reports as per group and regulatory guidelines and ensure accurate and timely delivery of reports
• Maintain an up-to-date schedule of all statutory and regulatory reports prepared by the Finance Department (with due dates and recipients) and ensure submission dates for these reports are always adhered to.
• Ensure compliance with all international standards, local statutory and group policies, and guidelines, and report any potential breaches in time for remedial action
• Liaise with External Auditors on matters relating to reports required for their audit examinations
• All matters impacting the Reporting desk must be communicated to the SRM and or FC, CFO.
• Assist in the preparation of competitor analysis on a quarterly basis and ensuring appropriate commentary and insights relevant to the Bank for decision making.
• Inform SMR/FC of potential challenges in the delivery of reports and ensure stakeholders are kept abreast of the same.
• Monitor local and international developments in regulatory reporting and ensure timely and appropriate adoption as required.

Tax Reporting

• Computation and posting of monthly tax corporation tax entries to ensure monthly reports reflects the correct tax charge.
• Assist in the preparation of corporation tax returns for timely review by the Senior Manager, reporting
• Prepare all payments made to ensure that tax deductions are made in line with the Income Tax, Withholding Tax and VAT laws and regulations; and duly submitted to the Tax Authority.
• Contact for tax related support documentation for audit and any other reviews as communicated from time to time.

Strategy

• Efficient operations of the Reporting Unit in the delivery of all returns and reports as stipulated in the Financial Institutions Act (2014), Group Instructions and Group Accounting Manual, Tax laws of Uganda and any other guidelines which may be released from time to time by the respective Regulators.

Business

• Liaise with Internal Audit on matters relating to their information needs for the purpose of performance of their assurance duties

Processes

• Liaise with GFS KE, GFCU and GFD on matters relating to preparation and submission of various statutory and regulatory reports as per the hub/spoke SLA.
• Provide an analysis of unusual / unreasonable trends for review by SMR/FC.
• Recommend improvements in the control environment

People & Talent

• Ensure succession planning for the role by identifying internal resources interested in the role and communicating this pipeline to the Senior Manager, Reporting.

Risk Management

• Perform monthly reconciliation of accounts assigned to you by the Senior Manager, Reporting
• Adhere to the agreed KCSA / CST plans and approach.
• Identify and report all noncompliance exceptions to the SMR / FC

Governance

• Engage the FORM on matters relating to accounting procedures and controls to the extent that the standards affect Reporting and the unit’s OR issues and losses.
• Assist spoke in the definition of requirements for new / revisions in reports and in consultation with Spoke FC advise the necessary corrections to Hub.

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Lead the regulatory reporting team to achieve the outcomes set out in the Bank’s Conduct Principles
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Qualifications, Skills and Experience:

• The applicant for the Standard Chartered Bank job must hold a University degree preferable in Business or Accounting coupled with second level professional accounting qualification e.g CPA, ACCA or CIMA
• A minimum of two years’ experience in a middle management accounting position of a busy financial /commercial organization.

How to Apply:

All candidates who wish to join Standard Chartered Bank should apply online at the link below.

Click Here

Deadline: 2^nd September 2022

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