Assistant Accountant General – Banking Arrangements and Government Shareholdings (FMG/PA 4)
• Salary – $5,597,715 p.a
Job Purpose
– The Director – Banking Arrangements and Government Shareholdings is responsible for the management of Government’s banking arrangements including control over all Government bank accounts; closure of all non-revenue Government bank accounts to the TSA; and authorization for the opening and closing of accounts.
The incumbent is responsible for formalizing the AGD’s and the wider Government’s relationship with the Bank of Jamaica and banking industry by ensuring the establishment, and regular review of Service Level Agreements (SLAs) which define transparent and competitive relationships with the banking sector; maintaining the Registry of all bank accounts of the public sector; and advising the Accountant General on the opening and closing of bank accounts.
The incumbent oversees the shareholdings of the Government, acting as custodian for all share value documents received in regards to those shareholdings; establishing and implementing systems that allow for the safe custodianship of share values and maintaining an accounting of all Government investments in public bodies.
Primary Duties:
• Provides strategic and technical advice to the AG and executives, and the MDAs;
• Advises on the organisation’s reserves and investment policy;
• Monitors the overall public sector investment portfolio to ensure the proper diversification of risk and the optimisation of returns;
• Gives approval for public sector investments where required;
• Reviews periodic reports on public sector investments including interest earned;
• Manages Government Investments in shareholdings;
• Issues authorizations for opening and closing of Government bank accounts;
• Ensures effective management of bank accounts;
• Establishes formal Service Level Agreements (SLAs) between the AGD and commercial banks for commercial banking services and fees to include accounts that can be opened, types of transactions, sweeping arrangements, record keeping, including frequent bank statement reconciliations, information exchange, indicators on the quality of services to be delivered, penalties, fees, signatories authorized to open accounts, etc.;
• Completes a transparent and market-based relationship between the AGD and the BoJ by signing an SLA;
• Contracts commercial banking services through a competitive tendering process where necessary;
• Ensures the setting up of appropriate systems for book-keeping, payments, lodgements and petty cash;
• Ensures all officers handling money keep proper records and documentation;
• Prepares verification of Closure of the Accounts of Ministries, Departments and Agencies at the beginning of each year;
• Attends Annual General and Extra-ordinary General meetings in the absence of the Deputy Accountant General.
Qualification and Experience
• BSc. Degree in Accounting/Management Studies with Accounting or BBA Degree from an accredited University or; Post-Graduate Degree in Accounting/Financial Accounting or; Practicing Chartered Accountant and a Member of a designated professional accounting Body or; ACCA Level 2 or 3.
• At least 8 years of experience in Accounting;
• At least 5 years of experience working at the management level in Accounting or Finance, with at least 2 years in the public sector;
Required Competencies:
• Oral & Written Communication Skills
• Problem Solving and Analytical Skills
• Customer Focus
• Results Focus
• Integrity
• Knowledge of the Crown Property Vesting (CPV) Act, the FAA Act, and other relevant Acts and regulations.
• Leadership
• Performance Management
• Emotional Intelligence
• Sound knowledge of how financial markets operate;
• Comprehensive knowledge of investment strategies;
• Experience in budget management and Chart of Accounts formulation and maintenance;
