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  • Expected Salary GHS25K GHS30K
  • Academic Level MA / MBA / MSc
  • Gender Male

Description

I have overall leadership responsibility of the finance and strategy role of Guaranty Trust Bank (GTBank). I act as the main liaison person for the Board of Directors; Bank of Ghana (BoG); Ghana Revenue Authority (G.R.A.); External Financial Auditors and Tax Auditors; other regulatory bodies and trade associations.

Corporate Accounting and Financial Reporting:

  • Responsible for the preparation of GTBank’s yearly Statutory Financial Statements with accompanying notes and schedules in accordance with IFRS. These reports must pass external audit as well as gain board and BoG approval for publications to shareholders and the general public.
  • Prepared monthly Financial Statements (FINSTAT) in cedis and dollar to Management of GTBank (Ghana) Ltd and GTBank PLC (Nigeria) for group consolidation.
  • Lead person in handling the Bank’s external auditors to ensure timely completion of audit. This process involves selecting of audit firm which qualifies for the scope of audit assignment; pre-commencement meeting; actual examination of the books of accounts; treatment of audit adjustments; handling of exceptional report and audit findings in management letter.
  • Submission of Board reports including signed audited financial statements outlining the performance of the Bank against key strategic benchmarks; Key performance indicators; industry benchmarks; and operating environments.
  • Management of General Ledger and building of chart of accounts as a basis for proper book-keeping with the ultimate goal of extracting error-free trail balance report. This role covers the designation of account names and ledger numbers for specific transactions relating to assets, liabilities, income and expenses as well as the creation of codes such as currency codes, business unit codes, functional codes, RM codes, Personnel codes etc.
  • Reviewed and advised Management on the implementation of new Financial Reporting standards that affect the bank’s standard of compliance and quality of the published financial statements.

Taxation and Payroll Administration:

  • In-charge of the leadership role of tax administration with Ghana Revenue Authority by ensuring that there are proofs that the Bank complies with the tax laws of Ghana.
  • Responsible for selecting qualified tax consulting firm to advise and support the bank in tax planning and compliance matters.
  • Coordinator of external tax audit by Ghana Revenue Authority by ensuring that there are no grave findings to attract penalty and interest.
  • In-charge of calculating final corporate income tax (CIT), national fiscal stabilization levy (NFSL), deferred income tax, capital allowance using acceptable tax accounting methods.
  • Ensure that the bank complies with quarterly self-assessment of corporate income tax using sound assumptions to ascertain estimated tax liability from a forecasted financial statements of the bank.
  • Has oversight responsibility for payroll computations and ensuring that net salaries are paid into staff bank accounts accurately. All statutory deductions are accurately remitted on time to the statutory authority every month.
  • Oversight responsibility for filing all tax returns and payment of taxes without fail to enable the issuance of Tax Clearance Certificate.
  • Ensure that all forms of withholding taxes and VAT/NHIL the bank deducts at source are remitted to Ghana Revenue Authority on time.

Regulatory and Prudential Returns:

  • Oversight responsibility for the preparation of Banking Supervision Department (BSD) Schedules (now e-FASS) using financial and operational data for submission to Bank of Ghana (BoG) monthly, mid-monthly, quarterly, semi-annually and yearly.
  • Preparation and submission of Daily Net Open Position, Monthly Foreign Exchange utilization returns as well as Liquidity & Cash Reserve Requirement to BoG.
  • Provision of compliance certificate on GTBank’s obligations on Long-term borrowings.
  • Preparation of monthly subsidiary financial and operational performance reports as such CBN, Country Heads Activity Report, Related Party Transactions and Extended Balance sheet and FINSTAT Review Reports in Ghanaian cedi and US dollar for submission to Guaranty Trust Plc in Nigeria.
  • Co-ordinated all other returns and ad-hoc requests from BoG which has financial implications.

 

 

 

Budgetary Controls and Performance Measurement:

  • Overall responsibility for the preparation of the annual budget detailing the plans for all business units as the basis for performance evaluation and facilitate the controlling of activities in GTBank.
  • Preparation of the Capital budget to support all projects and expansion programmes of the Bank.
  • Undertook the preparation and presentation of MPR and BPR reports to Executive Management at MPR and Group Heads meetings.
  • Preparation of the Managing Directors reports every quarter for country Subsidiaries meetings in Nigeria.
  • Developed various tools for measuring and rewarding branches and business units’ performance.
  • Anchoring the development and implementation of Activity-Based Costing (ABC) as the basis for capturing and allocating central (overhead) costs to profit centers.

Strategy and Business Analytics:

  • Overall responsibility for the corporate strategic plan formulation, strategy execution and communication of yearly strategic themes to all stakeholders including staff. Able to translate strategic plan into a business plan with financial projections and investment plan for equity financing or long-term borrowings to support the expansion programmes of the Bank.
  • Produced annual and bi-annual strategic review reports to guide discussions at strategic seminars. This is where Group Heads craft tactical ideas to help the Bank remains competitive in the industry every year. The outcome of these meetings leads to the production of communiques to form the basis for implementing yearly strategic and tactical plans of the Bank.
  • Prepare quarterly research/market insight reports on national and global political and socio-economic events which helped to formulate ‘fact-based recommendations for tactical decisions.
  • Periodically undertook national budgets and bi-annual economic reviews including using data of world-class research firms to identify key areas as opportunities or threats for the bank’s operations.
  • Conducted feasibility studies and investment valuation for the establishment of new branches of the bank for BoG approval.
  • Undertook research studies and produced industry/real sector reports of Ghana’s economy to guide the business units of the Bank for marketing, business development and credit analysis.

Committees and Projects Accomplished:

  • Member of Management Committee (MANCOM) performing under the following:
  1. Management Credit Committee
  2. Criticised Assets Committee (CAC)
  • Assets and Liability Management Committee (ALMAC)
  1. IT/Product development Steering Committee
  • Co-ordinator/Secretary to the Bank Strategy Committee
  •  Overall responsibility of the Bank’s capital raising to meet Bank of Ghana required minimum capital by December, 2018.
  • Leader of the IFRS 9 Implementation Committee
  • Leader of the BoG Capital Requirement Directive (BASEL II & III) Implementation Committee
  • Leader of ICAAP Implementation Committee
  • Leader of Activity-Based Costing System Implementation Project

Education

Experience

  • 2019 - Present
    Guaranty Trust Bank (Ghana) Limited

    Head, Financial Control & Strategy

    I have overall leadership responsibility of the finance and strategy role of Guaranty Trust Bank (GTBank). I act as the main liaison person for the Board of Directors; Bank of Ghana (BoG); Ghana Revenue Authority (G.R.A.); External Financial Auditors and Tax Auditors; other regulatory bodies and trade associations. Corporate Accounting and Financial Reporting: • Responsible for the preparation of GTBank’s yearly Statutory Financial Statements with accompanying notes and schedules in accordance with IFRS. These reports must pass external audit as well as gain board and BoG approval for publications to shareholders and the general public. • Prepared monthly Financial Statements (FINSTAT) in cedis and dollar to Management of GTBank (Ghana) Ltd and GTBank PLC (Nigeria) for group consolidation. • Lead person in handling the Bank’s external auditors to ensure timely completion of audit. This process involves selecting of audit firm which qualifies for the scope of audit assignment; pre-commencement meeting; actual examination of the books of accounts; treatment of audit adjustments; handling of exceptional report and audit findings in management letter. • Submission of Board reports including signed audited financial statements outlining the performance of the Bank against key strategic benchmarks; Key performance indicators; industry benchmarks; and operating environments. • Management of General Ledger and building of chart of accounts as a basis for proper book-keeping with the ultimate goal of extracting error-free trail balance report. This role covers the designation of account names and ledger numbers for specific transactions relating to assets, liabilities, income and expenses as well as the creation of codes such as currency codes, business unit codes, functional codes, RM codes, Personnel codes etc. • Reviewed and advised Management on the implementation of new Financial Reporting standards that affect the bank’s standard of compliance and quality of the published financial statements. Taxation and Payroll Administration: • In-charge of the leadership role of tax administration with Ghana Revenue Authority by ensuring that there are proofs that the Bank complies with the tax laws of Ghana. • Responsible for selecting qualified tax consulting firm to advise and support the bank in tax planning and compliance matters. • Coordinator of external tax audit by Ghana Revenue Authority by ensuring that there are no grave findings to attract penalty and interest. • In-charge of calculating final corporate income tax (CIT), national fiscal stabilization levy (NFSL), deferred income tax, capital allowance using acceptable tax accounting methods. • Ensure that the bank complies with quarterly self-assessment of corporate income tax using sound assumptions to ascertain estimated tax liability from a forecasted financial statements of the bank. • Has oversight responsibility for payroll computations and ensuring that net salaries are paid into staff bank accounts accurately. All statutory deductions are accurately remitted on time to the statutory authority every month. • Oversight responsibility for filing all tax returns and payment of taxes without fail to enable the issuance of Tax Clearance Certificate. • Ensure that all forms of withholding taxes and VAT/NHIL the bank deducts at source are remitted to Ghana Revenue Authority on time. Regulatory and Prudential Returns: • Oversight responsibility for the preparation of Banking Supervision Department (BSD) Schedules (now e-FASS) using financial and operational data for submission to Bank of Ghana (BoG) monthly, mid-monthly, quarterly, semi-annually and yearly. • Preparation and submission of Daily Net Open Position, Monthly Foreign Exchange utilization returns as well as Liquidity & Cash Reserve Requirement to BoG. • Provision of compliance certificate on GTBank’s obligations on Long-term borrowings. • Preparation of monthly subsidiary financial and operational performance reports as such CBN, Country Heads Activity Report, Related Party Transactions and Extended Balance sheet and FINSTAT Review Reports in Ghanaian cedi and US dollar for submission to Guaranty Trust Plc in Nigeria. • Co-ordinated all other returns and ad-hoc requests from BoG which has financial implications. Budgetary Controls and Performance Measurement: • Overall responsibility for the preparation of the annual budget detailing the plans for all business units as the basis for performance evaluation and facilitate the controlling of activities in GTBank. • Preparation of the Capital budget to support all projects and expansion programmes of the Bank. • Undertook the preparation and presentation of MPR and BPR reports to Executive Management at MPR and Group Heads meetings. • Preparation of the Managing Directors reports every quarter for country Subsidiaries meetings in Nigeria. • Developed various tools for measuring and rewarding branches and business units’ performance. • Anchoring the development and implementation of Activity-Based Costing (ABC) as the basis for capturing and allocating central (overhead) costs to profit centers. Strategy and Business Analytics: • Overall responsibility for the corporate strategic plan formulation, strategy execution and communication of yearly strategic themes to all stakeholders including staff. Able to translate strategic plan into a business plan with financial projections and investment plan for equity financing or long-term borrowings to support the expansion programmes of the Bank. • Produced annual and bi-annual strategic review reports to guide discussions at strategic seminars. This is where Group Heads craft tactical ideas to help the Bank remains competitive in the industry every year. The outcome of these meetings leads to the production of communiques to form the basis for implementing yearly strategic and tactical plans of the Bank. • Prepare quarterly research/market insight reports on national and global political and socio-economic events which helped to formulate ‘fact-based recommendations for tactical decisions. • Periodically undertook national budgets and bi-annual economic reviews including using data of world-class research firms to identify key areas as opportunities or threats for the bank’s operations. • Conducted feasibility studies and investment valuation for the establishment of new branches of the bank for BoG approval. • Undertook research studies and produced industry/real sector reports of Ghana’s economy to guide the business units of the Bank for marketing, business development and credit analysis. Committees and Projects Accomplished: • Member of Management Committee (MANCOM) performing under the following: i. Management Credit Committee ii. Criticised Assets Committee (CAC) iii. Assets and Liability Management Committee (ALMAC) iv. IT/Product development Steering Committee • Co-ordinator/Secretary to the Bank Strategy Committee • Overall responsibility of the Bank’s capital raising to meet Bank of Ghana required minimum capital by December, 2018. • Leader of the IFRS 9 Implementation Committee • Leader of the BoG Capital Requirement Directive (BASEL II & III) Implementation Committee • Leader of ICAAP Implementation Committee • Leader of Activity-Based Costing System Implementation Project

  • 2019 - 2019
    Fidelity Bank Ghana Ltd

    Head, Strategy and Business Performance

    Have overall responsibility of managing staff in the department to provide the leadership of Retail Banking Group with management information for decision-making. STRATEGIC PLANNING: • Responsible for Retail Banking Group strategy formulation, strategy execution and communication of strategies to all stakeholders. • Performed environmental scanning which covers activities such as analysing business performance, industry trends, existing and new regulatory requirements and advised management. • Assessed new business opportunities and their potential impact and formulated ‘fact-based’ recommendations to help Fidelity Bank take advantage. PERFORMANCE MEASUREMENT DESK: • Set budget guidelines, collated, prepared and reviewed operational budget. • Developed various tools for measuring branches and business units’ performance. • Identified, analyzed, and monitored issues that affected Retail Banking Group’s profitability. • Undertook the preparations and presentation of MPR reports to Executive Management at MPR Meetings. PLANNING AND BUSINESS ANALYTICS: • Monitored industry trends and company news and provided feedback to Retail Banking Group’s leadership to support management decision-making. • Undertook feasibility studies and provided input to Retail Banking Group Leadership/Branch Roll-Out Committee on new branch or re-location decisions • Maintained financial and economic data and assisted in various analytical assignments such as break-even analysis, cost-benefit analysis on new projects, new market, etc. • Carried out economic reviews and assisted in forecasting trends to stimulate the future outcome of business decisions. • Reviewed various strategic documents and prepared weekly and monthly economic reports. • Value Chain Analysis-Analyzed different industries, sectors, markets and indicated available opportunities. Major Achievements: • Able to provide strategic directions to about seventy-four (74) branches and managed budget responsibility worth over one billion Ghana Cedis in terms of deposits. Contributed to turn Consumer Banking Unit from a loss making Strategic Business Unit (SBU) into profit-making SBU in 2012 for the first time. This success has been sustained to date. • Appointed on 26th September, 2014, as a member of Fidelity-ProCredit Integration Committee whose focus was on Customer Retention, Retail Business Model and Branch Strategy. • Undertook Feasibility Study for integrating 24 ProCredit Branches into Fidelity Bank’s branch expansion strategy. By this, the bank was able to identify suitable locations for branches where there were overlaps. I have helped to ensure that Fidelity grows its branch network to 74 after integration. • Developed a Customer Segmentation Concept and led a Project Team to implement the concept successfully within one year in Fidelity Bank. By this concept, measurement of Business Units Financial Performance can be done according to customer clusters. • Designed and implemented Branch Tiering Concept in Fidelity Bank. This involves grading branches and putting them under different categories to guide resource allocations and equitable target setting. • Active Member of the Bank’s Branch Roll-Out Committee (BROC). Developed branch expansion plan which supported the increase in the branch network from thirty (30) to Seventy-four (74). • Active Member of the Bank’s Revenue Assurance Committee and Trade Fees Committee.

  • 2019 - 2019
    Intercontinental Bank Ghana Ltd

    Head, Performance Measurement Unit

    • Prepared and presented to Management the Assets and Liabilities Performance Reports of all Strategic Business Units (SBUs) as well as the entire Bank at weekly meetings. • Prepared and presented to Management the Monthly Performance Reports on the profitability of all Strategic Business Units (SBUs) and the Bank as a whole for decision making. • Developed various incentive schemes for rewarding the performance of all SBUs based on key quantitative and qualitative variables which led to increase in profitability as well as improved service delivery. • Developed Budget guidelines and prepared 2010 & 2011 operating budgets for all business units and bank-wide for management adoption. • Collated data for computing Transfer Prices for Business Offices on monthly basis. • I took additional responsibility of nursing the Multilateral Funding Desk. This involved sourcing for medium to long-term funding mainly from the International Markets via Development Finance Institutions and Multilateral Funding Agencies to enable the Bank support its corporate and retail banking transactions. Major Achievements: • Developed a scheme of work as part of the process of establishing the structure for Multilateral Funding Department in Intercontinental Bank Ghana Ltd. This was signed and adopted for use by the MD/CEO of Intercontinental Bank Ghana Ltd.

  • 2019 - 2019
    Intercontinental Bank Ghana Ltd

    Head, General Ledger and Statutory Returns

    Intercontinental Bank Ghana Ltd (January 2009 to September, 2010) • Responsible for Expenditure Control and Monitoring. This involved vetting all expenditure to ensure that they were within budget; nominating appropriate GL Codes for accounting entries and producing operating expenses report on weekly basis for Management. • Managed the General Ledger & Control Accounts for capturing diversified activities of the Bank relating to income, expenses, customer deposits, loans and advances and fixed assets. • Prepared Trial Balance and Management Account to EXCO Members on monthly, quarterly, and yearly bases. • Supported the Financial Controller to prepare Board Reports for quarterly Board of Directors Meetings. • Responsible for reviewing and correcting daily posting of transactions into branches’ accounts; vetting branches returns and performing inter-branch reconciliations. • Managed the Financial Assets Schedule of the Bank by providing accurate accounting treatment for the Bank’s Financial Asset instruments classified into Loans and Advances, Fair Value Financial Assets and Held-to-Maturity. • Managed the Fixed Asset Schedule of the Bank. • Responsible for managing and monitoring activities on all Nostro Accounts with corresponding banks and the Bank’s main Accounts with Bank of Ghana. • Prepared Banking Supervision Department (BSD) Schedules (i.e. BSD1-17) using financial and operational data for submission to Bank of Ghana (BOG). • Responsible for Ledger Account of Staff Loan which ensured that deduction of principal and interest payments were done via Staff Payroll and reconciling Staff Loan Ledger Account with individual Staff Loan Schedules. • Assisted the Financial Controller in handling Internal and External Auditors’ audit assignments. • I took additional responsibility of producing Market Risk Report on weekly meetings and was part of a three-member team who designed Operational Risk policy and procedures for Intercontinental Bank.

  • 2019 - 2019
    Intercontinental Bank Ghana Ltd

    Strategic Planning Officer

    • Produced various strategic and diagnostic papers such as competitors’ analyses, products and market reviews. • Conducted feasibility studies and investment valuation for the establishment of new branches for the bank. • Undertook research studies and produced industry reports for major sectors of the economy for Management decision-making. • Reviewed National Budgets and bi-annual economic reviews including environmental scanning to identify key areas as opportunities or threats for the bank’s operations. Key Accomplishments: • Developed branch expansion plan which helped the bank to establish a minimum of ten branches within two years through findings from my feasibility studies. • Able to produce industry reports for the Cocoa Sector; Aluminum, Steel and Metal Industry; Telecommunication industry; Timber industry; Oil Marketing and Trading Sub-sector; Housing Industry; Maritime Industry; Mining Industry; etc. • Developed a Transfer Pricing Proposal and other incentive schemes for rewarding performance in the Bank. • Co-ordinator of a team that developed a three-year Strategic Plan for the Bank covering 2010-2012. • A member of a Project Team that implemented Basel II and Enterprise Wide Risk Concept into the bank for adoption.

  • 2019 - 2019
    Youngs Seafood Company Ltd, UK

    Management Trainee (Internship)

    • Investigated production system and costing system being used by the company to recommend areas of improvement. • Performed Production scheduling and Plant capacity planning. • Performed variance analysis and product cost reconciliation. • Performed new product costing. Major Achievements: • Won a consultancy-based dissertation from the company which has enabled me to acquire basic skills in Consultancy-Based Research.

Expertise

Corporate Accounting & Financial Reporting; Performance Measurement Techniques; Strategic Planning; Budgeting; Taxation; and Multilateral Funding .

Honors & awards

  • 2016

    Commonwealth Shared Scholarship Scheme

    I was a recipient of the Commonwealth Shared Scholarship Scheme in September 2006 for a postgraduate study in Master of Business Administration (MBA) at the University of Hull Business School.

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