Job Information
Director, Finance and Accounts (FMG/PA 3)
Company Information
Job Information
Description
Company
Government of Jamaica
Website
http://bit.ly/GOJJobListing
Contact Name
Office of the Services Commission
Contact Email
communications@osc.gov.jm
Job Type
Full-time
Department
Executive Agency
Category
Accounting
Posted
09-08-2022
Job Status
Start Publishing
09-08-2022
Stop Publishing
20-08-2022
Applications are invited for the following posts in the Office of the Supervisor of Insolvency, Ministry of Industry, Investment and Commerce: Director, Finance and Accounts (FMG/PA 3) – (Not Vacant) during the period November 7, 2022 to February 3, 2023, salary range $2,551,250 $3,032,634 per annum and any allowance(s) attached to the post.
Job Purpose
Under the direct supervision of the Supervisor of Insolvency, the incumbent will be responsible to ensure the effective, efficient and economical use of the funds in the implementation of the Budget allocated to both the Office of the Supervisor of Insolvency and the Office of the Government Trustee. Ensuring that there is a high standard of probity, propriety, regularity, transparency, accountability and value for money in the pursuit of the fulfilment of their strategic objectives. The incumbent will also be responsible for assisting the Supervisor of Insolvency to regulate the insolvency regime by reviewing the books and records of trustees and advising the Supervisor as to their compliance with accounting principles and whether there have been any irregularities or breaches of the Insolvency Legislation and Regulations.
Key Responsibilities
Management/Administrative:
- Confers with Heads of Department (HoDs) to review and revise the Organization’s Accounting policies in accordance with established standards;
- Participates in the Organization’s Strategic Planning process;
- Assists in the preparation and monitoring of the Operational Plan and Budget for the Offices;
- Ensures expenditure is in accordance with the Operational Plan and that agreed targets are being achieved;
- Represents the Organization at meetings, conferences and other functions as directed;
- Provides reports and guidance/advice to the HoDs and managers on internal financial matters;
- Ensures that the Accounting staff have sufficient and appropriate resources to enable them to undertake their duties efficiently and effectively;
- Maintains effective working relationships with external and internal stakeholders and clients and ensures that the Accounting staff provides a high level of service to them.
Technical/Professional:
- Ensures that Budgets and Cash Flows are prepared in line with the Ministry of Finance’s guidelines as well as in accordance with ceilings and guidelines outlined in the Budget Call issued by the Financial Secretary; the priorities, objectives and strategies of the Department outlined in its Corporate Plan; and the national economic and policy priorities and that the Consolidated Budget Estimate and Cash Flow Statement of the Department are submitted to MOF within the prescribed time;
- Ensures the accurate preparation and prompt submission of Financial Statements to the Ministry of Industry, Investment and Commerce and all other external and internal users;
- Prepares or assists in the preparation of the narrative necessary to support the Budget allocations so as to ensure that it reflects the specific purposes and performance indicators in the Corporate Plan;
- Advises the relevant Heads on the financial status and performance of their Offices and Units;
- Maintains a system of internal controls and for managing public expenditure which ensures that expenditures are kept within budgetary limits and that there are high standards of performance, value for money is achieved and projects are completed on time;
- Keeps under review, accounting books, records, registers, etc. to ensure accuracy and completeness of the records of all financial transactions relating to OSI, OGT and CSU;
- Ensures that the Budget requests from Heads/Divisions reflect the level of allocations, are in keeping with guidelines established by the Management Team and are supported by realistic implementation plans, where applicable;
- Reviews the structure of user fees and the system of cost recovery to ensure maximum possible recovery in conjunction with the Supervisor of Insolvency;
- Ensures validity of the estimates of revenue in light of the reasonableness of the existing rates relative to current costs, trends of actual collection and any special factors that will affect future trends etc.;
- Prepares Annual Estimate of Miscellaneous Revenue and/or Appropriations-in-Aid in accordance with the format stipulated by the Financial Secretary;
- Exercises overall responsibility for Cash Management including:
- Allocating the monthly and quarterly warrants in accordance with agreed priorities
- Implementing an effective mechanism for containing expenditures within the warrant limits through a system of commitment planning and control Ensuring that Appropriations-in-Aid, if any, are fully realized
- Keeping under review all Cash Book balances
- Ensures that expenditure against the approved Budget is met from the warrant allocation and not from unauthorised sources such as withholding statutory and other approved deductions, diverting Departmental Revenue, etc.;
- Reviews on an on-going basis all bank accounts to ensure that there are no large idle cash balances or unauthorized overdrafts;
- Assists the Heads/Divisions in establishing and maintaining an effective system for the operational use, maintenance and security of all assets under the control of the Department;
- Analyses areas of risk in the operational systems and take steps to reduce threats;
- Ensures that there is a system for the maintenance of proper records of the financial affairs, the preparation of monthly accounts, financial reports, and annual appropriation accounts in accordance with the requirement of the Ministry of Finance and in keeping with the FAA Act;
- Oversees the posting of all transactions to the FINMAN System and verify/validate payments made via the Central Treasury Management System (CTMS);
- Prepares Salaries Control Account for all Payrolls to validate payments made;
- Prepares GCT reports for submission to Ministry of Finance within the specified time;
- Oversees preparation and submission of reports on collection and lodgements of Miscellaneous Revenue to the Cash Management Unit at Accountant General’s Department;
- Ensures that the 3% withholding tax on specified services are applied where relevant and proceeds remitted to Tax Administration Jamaica within the specified time along with the specified forms;
- Ensures that any irregularity/breach detected in the analysis of Trustees’ books and records are promptly reported to the Supervisor of Insolvency and appropriate recommendations made;
- Maintains records of bonds/security provided by Trustees;
- Provides expert advice and specialist assistance to the Supervisor of Insolvency with regards to the:
- Examination/analysis of accounting books and records of Trustees
- Review of Trustees’ accounts of receipts and disbursements and final statements and dividend sheets
- Determination of the reasonableness of the amount to be paid by the Debtor towards his liabilities in the case where Debtors operates a business Soundness of proposals presented by Trustees
- Has overall management of bank account containing unclaimed dividend and payment from such account to the Consolidated Fund within the specified time;
Human Resource:
- Participates in the quarterly evaluation of the performance of Programme Managers in achieving the objectives and strategies in the Corporate Plan;
- Evaluates the performance of the Financial Accountant and the Accounting and Compliance Officer;
- Ensures that the Unit’s staff have sufficient and appropriate physical resources to enable to undertake their duties efficiently and effectively;
- Provides guidance to staff through coaching, mentoring and training as well as providing assistance and support as needed;
- Participates in the recruitment of staff for the Department;
- Provides leadership to staff through effective objective setting, delegation and communication;
- Performs any other related duties that may be assigned from time to time by the HoD.
Required Knowledge, Skills and Competencies
- Excellent presentation, oral and written communication skills
- Excellent analytical skills and judgment
- Good interpersonal and problem-solving skills
- Good organizing and leadership skills
- Ability to work well under pressure and meet deadlines
- Sound knowledge of financial investigating standards and procedures
- Excellent knowledge of the Financial Administration and Audit Act
- Comprehensive knowledge of Government Accounting principles and practices
- Excellent knowledge of the Organization’s policies and procedures
- Proficiency in the relevant computer applications
Minimum Required Qualification and Experience
- BSc in Accounting or Management Studies with Accounting or Business Administration Degree with an accounting concentration from a recognised institution plus at least three
- years’ experience in Government Accounting; OR
- A.Sc. Accounting, MIND, along with the completion of revised Certificate in Government Accounting Course plus at least five (5) years’ experience in Government Accounting;
- ACCA, Level 2 certification or any equivalent accounting/management professional qualification plus at least three (3) years’ experience in Government Accounting;
- Extensive experience in Accounting and Financial Management operations with knowledge of Government Accounting.
Applications accompanied by résumés should be submitted no later than Friday, 19th August, 2022 to:
Director, Human Resource Management and Development
Ministry of Industry, Investment and Commerce
4 St. Lucia Avenue
Kingston 5
Email: hrm@miic.gov.jm
Please note that only shortlisted applicants will be contacted.
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