Financial Officer Job at DFCU Bank

Job Title:      Financial Officer

Organization: DFCU Bank

Duty Station: Kampala, Uganda

Reports to: Financial Controller

About US:

DFCU bank is a fast growing commercial bank offering a variety of innovative products and services. DFCU Limited was started by the Commonwealth Development Corporation (CDC) of the United Kingdom and the Government of Uganda through the Uganda Development Corporation (UDC) under the name of Development Finance Company of Uganda Limited. Later restructuring brought in DEG (of Germany) and International Finance Corporation (IFC) as equal partners with CDC and UDC, each having a 25% stake in the company. Its objective was to support long-term development projects whose financing needs and risk did not appeal to the then existing financial commercial lending institutions.

Job Summary:  The Financial Officer will;

  • Process payment transactions, both to external suppliers and internal staff accurately in a timely manner, ensuring that costs are within budget, are duly approved in line with dfcu’s Procurement policy, VAT and withholding tax are correctly accounted for, and that the transactions are correctly recorded.
  • Manage risk through a fully reconciled, supported balance sheet
  • Ensure tax, regulatory and statutory compliance
  • Support the Manager – Financial Reporting in managing funds by maintaining fully reconciled funding schedules, prepare compliance reports and process funding payments.
  • Provide timely, accurate and reliable management information while maintaining tight budgetary control for DFCU Bank.

Key Duties and Responsibilities: 

Transaction processing, budgetary control and compliance

  • Prepare payment vouchers for all invoices and staff claims in a timely manner and ensure they are duly approved.
  • Confirm that VAT and WHT tax are correctly accounted for on all payments in accordance with the Income Tax Act and issue WHT certificates in a timely manner.
  • Prepare expenditure analysis on opex and capex (actual vs budget) and tracking of exceptional approvals.

Management reporting:

  • Support the Manager – Management Reporting with in depth management reporting ensuring that the report is updated in line with management and board requirements. Provide detailed analysis and interpretation of revenue and cost patterns in dfcu Bank.
  • Support the Manager – Management Reporting in carrying out the revenue assurance role

Fixed assets maintenance

  • Annual fixed assets verification
  • Maintain the fixed assets register and updates
  • Co-ordinate with procurement on disposal of assets
  • Monthly reconciliation of the register with finacle and hardcat systems

Financial reporting and risk management

  • Preparation of timely and accurate BoU returns (daily, weekly, monthly and quarterly reports)
  • Collate audit schedules for statutory audits
  • Accurate preparation and timely filing of statutory returns and payments including VAT, WHT, excise duty and stamp duty.
  • Implement recommendations from tax and audit reviews
  • Prepare monthly balance sheet dashboard to readily identify areas of concern
  • Proactive follow up of issues arising from balance sheet review


  • Maintain reconciliation schedules for borrowers and long term funds
  • Maintain tracker on funding mix and interest expense
  • Assist in collation of funders requirements e.g. conditions precedent

Qualifications, Skills and Experience:

  • The applicant for the DFCU Bank Financial Officer job placement must hold a Bachelor’s Degree in Accounting or Finance
  • Part qualified in accounting profession with a recognized institute (ACCA, CPA, CIMA)
  • A minimum of two years’ experience in accounting preferably in the financial services sector
  • Industry knowledge of the banking sector, knowledge of IFRS and Ugandan tax legislation, and Financial Institutions Act (FIA) 2004 and Amendments.
  • Fluency in spoken/written English
  • Good computer literacy with excellent use MS Office
  • Strong analytical and numeracy skills
  • Good communication, negotiation and interpersonal skills
  • Proactive self-starter able to work under own initiative


How to Apply:

All candidates who so wish to join the banking sector in the aforementioned capacity are encouraged to send their applications with detailed CVs including present position and copies of relevant professional/academic certificates (University Transcript, O & A level) to:

Deadline: 22nd November 2018

NB: dfcu Bank does not solicit/accept payment in cash/kind from prospective candidates in exchange for shortlisting or job placement. Any candidate who engages in this kind of transaction is aiding and abetting fraud and will be automatically disqualified.

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