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Financial Analyst (2 Positions) – Mogadishu, Somalia

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  • Full-Time

Job Description

CENTRAL BANK OF SOMALIA

البنك المركزي الصومالي
bankiga dhexe ee soomaaliya
Job Description
Post Title Financial Analyst (2 Positions)
Duty Station CBS Headquarter
Expected starting date January ,2021
Status Permanent
Appointment period   Full-time
Reports to Head of Banking Supervision Division
Supervises      None
1-    Role
The role of the Financial Analyst is to execute core function of the Division by collecting, assembling, analysing, identifying and forecasting probable outcomes of financial and economic data. Conduct periodic review and assessment on the financial institution’s financial performance and position. Perform continuous surveillance on financial Institutions’ financial condition, performance and risk exposures to promptly identify emerging risks and vulnerabilities. The Financial Analyst will support the Head of the division in the day-to-day division activities.
2-    General Description
The Central Bank of Somalia’s (CBS) main objective is to promote and maintain a safe, stable, sound, efficient and competitive financial Sector.   Also, CBS is responsible to develop and implement monetary policies and maintain a safe, sound and sustainable banking and financial systems. CBS executes its tasks by collecting, assembling, analysing, identifying and forecasting probable outcomes of financial and economic data. The CBS ensures financial stability through regulation and supervision of the financial institutions that are aligned with the Central Bank of Somalia’s strategic goals and objectives.
3-    Main Duties and Responsibilities
Ø  Provide analysis and assessment on the safety and soundness of financial institutions.

Ø  Conduct periodic review and assessment on the financial institution’s financial performance and position.

Ø  Analyse financial data and create financial models for decision support.

Ø  Identify and drive process improvements, including the creation of standard and ad-hoc reports, tools, and Excel dashboards

Ø  Analyse financial data and create financial models for decision support.

Ø  Reconcile transactions by comparing and correcting data.

Ø  Produce monthly and quarterly reports, which include key metrics, financial results, and variance reporting

Ø  Assess the robustness and effectiveness of the financial institution’s risk governance structures.

Ø  Perform monthly and quarterly financial Institution surveillance on the financial performance and asset quality of the financial institution’s overseas branches/subsidiaries.

Ø  Perform continuous surveillance on financial Institutions’ financial condition, performance and risk exposures to promptly identify emerging risks and vulnerabilities.

Ø  Ensure pre-emptive measures are taken to address corrective actions and emerging weaknesses/ concerns on a timely

Ø  Closely monitor rectification actions taken by the financial institutions in addressing CBS concerns.

Ø  Plan, organize, and control compliance activities.

Ø  Analyse work methods and precedents to identify and define process improvements or new innovative approaches in relation to the Division’s core mandates.

Ø  Recommend actions by analysing and interpreting data and making comparative analyses; study proposed changes in methods and materials.

4-    Qualifications
Education:

·      Master’s degree in Finance, Accounting, Banking, Islamic Banking and Finance, or relevant professional certifications are highly advantageable (ACCA, CPA, CIA and etc) .

Experience:

·      At least 5 years of professional experience as Financial analyst, Financial Controller, Internal Auditor or equivalent experience with a leading Financial Institutions (Commercial Banks, Insurance and etc) is required.

Language:

·      Operationally fluent in both Somali and English.

5-    Functional and Organizational Skills
·      Possess solid and broad understanding of Somali Financial Institution in all its components, and of the Somali regulatory and legal environment.

·      Possess strong and subtle knowledge of International Financial Reporting Standards, principles and standards issued by the Basel Committee for Banking Supervision, and relevant best practices.

·      Possess strong accounting and auditing skills.

·      Possess advanced competency in conducting analysis and eliciting meaningful and important deductions. Strong ability and understanding of qualitative and quantitative analysis.

·      Behave consistently with the CBS codes of ethics and ensure that the behaviour of others is consistent with these codes.

·      Establish and maintain positive working relationships with other partners both internally and externally.

·      Possess effective written, oral, and interpersonal communication skills.

·      Operationally fluent in both Somali and English, in both speaking and writing.

·      Good knowledge of PC software packages including those for accounting, finance, risk management.

Application Procedure:
Only qualified national applicants with completed applications are invited to submit their electronic applications/Cover Letters, updated resumes supported with copies of professional, academic certifications and any other evidence demonstrating the required experience and three referees through email; recruitment@centralbank.gov.so and copy to jibril@centralbank.gov.so not later than 22nd December, 2020 at midnight Mogadishu time.   Incomplete Applications and those received after deadline will not be considered. Per newly approved human resources policy, Central Bank is equal opportunity employer, female applicants are highly encouraged to apply. Please note Only shortlisted candidates will be contacted.

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