Revenue Assurance Specialist Full Time

Job description

Zambia National Commercial Bank Plc (Zanaco) is inviting applications from suitably qualified and experienced individuals for the following job aimed at contributing to the Bank’s strategic vision, in Finance Division under the Management and Information system Department at Head Office:-

REVENUE ASSURANCE SPECIALIST

JOB PURPOSE

To be responsible for engaging, leading and developing the overall Revenue Assurance process to best practice standards, and providing stakeholders with high levels of confidence and assurance, demonstrating that key issues and risks are being proactively and effectively arranged. The job holder will be responsible for developing a comprehensive revenue assurance framework.

Under the supervision of the Head MIS, the following are among the Job Key Responsibilities:-

• Lead efforts to develop policies and procedures that streamline review processing and support the definition of revenue controls and procedures
• Provide revenue recognition guidance and training to business functions
• Lead the communication and implementation of existing and new revenue accounting practices
• Liaise with IT to mitigate and pre-empt risks related to revenue management
• Improve revenues and profitability through the complete assurance of revenues and minimization of income leakage
• Develop a risk universe for income leakage, highlighting areas of actual and potential income leakage
• Compile a laundry list of all existing Bank products and services; obtain and document an understanding of how revenue is generated from those products, services and channels
• Work with Business to develop a library of all products and services in the Bank’s offering.

• Develop and establish routine processes that ensure that the Bank has an up-to-date tariff guide, that tariffs in the system are kept up-to-date; that amendments in the physical tariff are also amended in tariffs held on the system; fee collection is automated; where fee is manual, clear guidelines are available on posting these; ensure that all important fields are addressed to enable business analysis; ensure waivers can only be effected once approved by the Commercial Officer (CCO); that a laundry list of all existing waivers be extracted, reviewed, and
• Develop and establish routine processes that ensure that fees related to facilities collectible upfront or on a periodic basis are maintained in the system; fees collectible quarterly are accrued for; where such fees are collected manually, there should be an adequate process in place to ensure that reminders for posting are triggered
• Ensure that for all processes described above there is clear ownership, roles and responsibilities, that there should be adequate liaison between IT, MIS, Business, Finance, Credit documentation or any other function along the production line
• Ensure that system parameters are well developed and adequate to support the differentiated product pricing entailed by tariff guides
• Establish processes in liaison with Business performance to ensure that daily P& L established for treasury based income and revaluation of net open positions is correctly computed and recognized
• Establish processes that ensure all earning assets booked in the system are booked consistent with facility letters or contracts or other authoritative documents
• Establish adequate process to ensure that overdraft limits are properly managed and priced correctly
• Adequately socialize the revenue assurance framework and positively affect culture
• Establish analytical procedures that will provide revenue assurance; these procedures will be carried out periodically by MIS and Business Performance Management to test completeness and accuracy of revenue recognized

INTERNAL/EXTERNAL CONTACT

• External: N/A
• Internal: All Divisions.

QUALIFICATIONS AND EXPERIENCE

• Grade 12 Credit or above mandatory in Mathematics and English and any other three subjects.
• University Degree in IT, Business Accounting or IT related field from a recognized university.
• Minimum experience of at least three(3) years in middle management
• Accounting experience will be and added advantage

JOB CORE COMPETENCIES

• Attention to detail
• Communication Skills
• Analytical skills
• Project management skill
• Business Acumen
• Teamwork/collaboration

APPLICATION PROCEDURE

All applications MUST have an application/cover letter, copies of qualification certificates including Grade 12 and detailed curriculum vitae indicating the position being applied for in the subject line and should be sent by email to vacancies@zanaco.co.zm no later than Thursday, 21st September, 2017.

ONLY SHORTLISTED APPLICANTS WILL BE COMMUNICATED TO.

Zanaco provides equal opportunity in employment for all qualified persons and prohibits discrimination in employment (women are encouraged to apply).