LOGINCost Accountant job at National Social Security Fund ( NSSF )

JOB DETAILS:
Responsible for overseeing the cost management function, which includes analysing financial data to identify cost reduction opportunities and maintain a competitive expense ratio. The role also involves coordinating the budget preparation, consolidation, and monitoring process.

Duties and Responsibilities include:
Accounting Operations:
• Ensure that the accounting procedures are followed and provide recommendations to improve the finance processes.
• Designing and maintaining an effective Cost Accounting System.
Cost Control and Performance Analysis:
• Prepare monthly expenditure reports for budget holders and management and coordinate the compilation of credible comments (variance analysis) from the budget holders and cost control team.
• Ensure budget/performance monitoring and reporting. Track budget variances and challenge budget owners on any deviation from the approved cost baseline.

• Undertake value-for-money process reviews and analyses for the identified major business processes.
• Review operating expenditure invoices to ensure budget availability and proper cost allocation.

• Organize regular cost review meetings with budget holders to identify opportunities to improve budgetary control.

• Establish appropriate coordination with other project functions to ensure compatibility with the cost control requirements and timely flow of the information.

• Ensure that potential budget overruns are anticipated, and corrective measures are in place to ensure the recoverability of all costs.
• Identifying and analysing cost information to detect trends and propose control action.
• Develop and maintain an Analytical Database to monitor expenses within the Fund.

• Analysing the profitability performance of various initiatives and products or segments within the Fund.
Budget Preparation Exercise:
• Coordinate the preparation and consolidation of the Fund’s annual budget for review and approval by Exco and the board.

• Preparation of budget schedules or calendars, preparing budgeting templates, supporting departments as they prepare their budgets, and reviewing departments’ budget submissions

• Preparation of the budget papers for both Exco and board review as well as a budget paper for approval by the minister.
• Prepare analyses to guide the budget holders regarding trends and pricing for various activities within the budget. This will be in collaboration with budget holders to provide more context.
• Provide technical guidance with regards to the budgeting system to all staff involved in the budgeting process at the Fund.
• Hold internal sensitizations and training in regard to budgeting and cost control measures.
Stakeholder Engagement and Collaboration:
• Engage with different stakeholders in and out of the Fund to facilitate the achievement of departmental and organizational objectives.
• Lead discussions with managers on cost structure to reach the best compromise between cost monitoring needs and accounting and system constraints.
• Support the Procurement and Disposal Unit with the annual market survey to determine the market prices for the Fund’s major consumables.
• Engage in the preparation of both the annual integrated report and the annual ESG /Sustainability report of the Fund.

Education Requirements:
• A bachelor’s degree in finance, Commerce, Accounting, Business Administration, and Statistics.
• Professional qualifications in CIMA, CPA or ACCA.

Work Experience:
• A minimum of 4 (four) years of Cost Accounting and Analytics Environment.
• Certification in Cost control and Business Intelligence/Analytics courses is an added advantage.

Key Competences:
• Strong costing systems background
• Planning and organizing skills
• Experience with data analytics and data visualization tools like Power BI.
• Excellent report-writing and presentation skills
• Communication and interpersonal skills
• Collaboration & stakeholder management
• Critical thinking and a Problem-solving mindset
• Experience working on the development and analysis of cost standards.
• Business advisory skills
• IT skills – Advanced Excel, PowerPoint and MS Word

Work Hours: 8

Experience in Months: 48

Level of Education: Bachelor Degree

Job application procedure
Interested in applying for this job? send all the required documents to [email protected]