Chief Accountant

The Real Estate Board invites applications from suitably qualified persons to fill the following post that is to be assigned to the upcoming Real Estate Authority of Jamaica (REAJ):

Chief Accountant (not vacant)

August 2, 2023-December 31, 2023

Salary Range: $ 4,594,306.00 to $6,178,831.00 per annum 

Job Summary

Reporting to the Chief Executive Officer, the Chief Accountant, manages the day-to-day operations of the Finance and Accounts branch ensuring the effective, efficient and economical use of the organization’s funds in the fulfilment of its corporate objectives. Oversees the implementation of the budget, ensuring a high standard of probity, propriety, regularity, transparency, accountability and value for money.

Key Responsibilities

• Prepares and submits the budgets and cash flows in line with the guidelines of the Ministry of Finance and the Public Service as well as in accordance with the organization’s corporate plan, policy priorities and resource availability.
• Analyses the budget requests from the Divisions to determine that they reflect the level of allocations and guidelines established by the senior management team and are supported by realistic implementation plans where applicable.
• Guides the divisions in the preparation of the narrative in support of the budgetary allocations to ensure that it conforms with the specific purposes and performance indicators in the Corporate Plan.
• Ensures validity of the estimates of revenue in light of the reasonableness of the existing rates relative to current costs, trends of actual collection and any special factors that will affect future trends etc.
• Prepares annual Estimates of Miscellaneous Revenues and/or Appropriations-in-Aid in the format stipulated by the Financial Secretary.
• Maintains overall responsibility for cash management including:
  • Allocating the monthly and quarterly warrants in accordance with agreed priorities.
  • Implementing an effective mechanism for containing expenditures within the warrant limits through a system of commitment planning and control.
  • Ensuring that appropriations-in-aid, if any, are fully realized.
• Monitors expenditure against approved budget and warrant allocation and implement mechanism to manage statutory and other approved deductions to prevent diversion of departmental revenue.
• Reviews on an on-going basis all bank accounts to ensure that there are no large idle cash balances.
• Authorizes and approves all bills, claims and invoices ensuring the legitimacy and accuracy of all payments.
• Recommends cost-saving measures, and control systems for the operational use, maintenance and security of all assets under the control of the organization.
• Supervises the implementation of a system for the maintenance of proper records of the organization’s financial affairs, the preparation of monthly accounts, financial reports, and annual appropriation accounts in accordance with the requirement of the Ministry of Finance and the Public Service and in keeping with the FAA Act.
• Implements a sound system of management accounting and reporting to meet operational requirements of the organization.
• Ensures the establishment of adequate systems necessary for efficient accounting and control and the legitimacy and accuracy of all payments.
• Attends discussions called by the Finance committee of the Board of Directors, the Office of the Prime Minister, the Parent Ministry, Finance Committee of Parliament regarding the budget.
• Leads in the preparation of appropriate schedules for the control of expenditure under various items approved.
• Oversees the accurate and correct application of the system of coding of accounts and ensures that all expenditure is checked, approved and recorded on the appropriate schedule, that the expenditure is in accordance with REAJ Policy, that payment is issued promptly and the balance of unspent funds recorded.
• Ensures that goods and services ordered are appropriate when received and represent value for money to the organization.
• Guides the implementation of the systems for the prompt and efficient collection of all revenues due to the Real Estate Authority and other functionalities of the organization.
• Monitors payments from developers, strata corporations and other bodies to ensure that the correct amounts are received and on a timely basis.
• Ensures the maintenance of a value book on a current basis and in accordance with the regulations.
• Ensures that all accounting records are kept current and that bank accounts are reconciled on a monthly basis.
• Undertakes regular inspection and review of revenue and expenditure schedules.
• Ensures periodic reconciliation of various accounts and schedules to ensure that the accounts remain in balance.
• Oversees the proper inventory of furniture and equipment and the maintenance of an asset register.
• Ensures that all invoices for payments are dealt with promptly and avoids any accumulation of debts.
• Ensures the timely preparation of annual returns of statutory payments and related statements.
• Prepares annual accounts including statements of deposits and advances for submission to the Board of Directors and the Auditors.
• Ensures that contracts for the supply of goods and services are effected with optimum benefit to the REAJ.

Management/Administrative Responsibilities

• Provides advice on accounting policies and procedures so that there is a high level of compliance at all levels with best practice and statutory requirements.
• Assists in the development and updating of objectives and strategies of the organization’s operational Plan.
• Participates in the quarterly/periodic evaluation of the performance of programme managers in achieving the objectives and strategies in the Strategic/Operational Plan.
• Advises the Director Corporate Services and the CEO on the financial performance and status of the organization.
• Provides expert advice and specialist assistance to programme managers as required.
• Prepares Progress, Annual, Special and other reports as necessary.
• Represents the organization at meetings, conferences, workshops and seminars as required.

Human Resource Responsibilities

• Supervises the performance of the branch/department and its staff, including transferring skills, motivating staff, setting performance targets, monitoring performance, providing feedback to staff, recommending training interventions.
• Contributes to the development and implementation of succession planning framework in collaboration with the Human Resource Department through the development of procedural manuals and other duties prescribed within the framework.
• Ensures that the department’s staff has sufficient and appropriate physical resources to enable them to undertake their duties efficiently and effectively.
• Maintains effective working relationships with external and internal stakeholders and clients, ensuring that the department provides a consistently high level of service.
• Participates in job rotation strategy for the division in collaboration with the Human Resources Department.
• Prepares and conducts presentations on the role of the department for the orientation programme.
• Contributes to the motivation of direct reports by coaching and mentoring.

Required Competencies:

• Excellent oral and written communication skills.
• Strong analytical and problem solving skills.
• Ability to work through people.
• Strong leadership skills
• Integrity
• Comprehensive knowledge of computer applications and accounting software.
• Training in financial systems and budget preparation.
• Ability to manage the preparation of final accounts.
• Excellent working knowledge of investment markets and portfolio management.
• Sound knowledge of financial and accounting principles and practices including the FAA Act, Public Bodies Management Act and Regulations.
• Ability to work with minimum supervision.

Minimum Education & Experience:

• First Degree in Accounting or Management from a recognized tertiary institution and;
• A minimum of five (5) years post-graduation experience in accounting at a Senior Level

or

• ACCA Level 2 and
• A minimum of five (5) years post-graduation experience in accounting at a Senior Level

Deadline for Applications:

Applications accompanied by résumés should be submitted no later than Friday, July 14, 2023 via https://rebcsc.bamboohr.com/jobs

We thank all applicants for their interest. However, only short-listed candidates will be contacted.