Accounting Officer

The incumbent is responsible for assisting in general accounting procedures; maintaining accurate and up to date accounting records and database; assisting with the preparation of the monthly financial statements and reports.

We are seeking a resourceful, highly organized and qualified officer who is passionate about accounting procedures and processes. The incumbent should be highly reliable and works seamlessly as a key support to the Section Manager to ensure the Corporation’s full compliance to the FAA ACT, the PBMA Act and other GOJ guidelines, policies and procedures. This role reports to the Accountant.

 If you are open to the challenge, this is a career opportunity for you!

About the Role:

Responsibilities and Duties:

Financial Statements

• Support the Accountant in preparing monthly financial statements, analysis and reports required by Management and the Ministry of Finance and the Public Service by preparing the Statement C- Net Credit Report, the External Counter Party Transaction (Domiciled outside Jamaica), and the Domestic Arrears (Supplier Transactions).

 Operating and Capital Budget

• Prepare submission of projections to facilitate the annual corporate planning and operating and capital budge exercise.

General Ledger

• Input journals, worksheets and schedules to the general ledger system and finalize system requirements, as directed.
• Conduct research on variances between actual and budget and prepare correcting journals as required

Accruals

• Timely input accrual journals, worksheets and schedules regarding receivables transactions to the general ledger system and finalize system requirements, as directed.
• Timely input accruals for standard / recurring journals to the general ledger system and finalize system requirements, as directed.

Bank Reconciliation

• Prepare monthly bank accounts reconciliation for review.
• Prepare the monthly investment reconciliation for review.
• Prepare annual reconciliation of Employer’s Monthly Statutory Remittance Payroll Deductions (Form SO1) to the payroll system for review.
• Prepare the annual List of Premium Receivables reconciliation and Comparative Premium Receivables (year over year).

Month End Closure

• Liaise with the Senior Accounting Officer- Accounts Payable and the   Senior Accounting Officer- Investment and Fixed Asset and ensure that the Accounts Payable, Accounts Receivable, Cash Management, Investment and Fixed Asset entries are recorded in the current period.

Accounts Receivable

• Liaise with the Monitoring and Risk Assessment (MRA) Section for the Return of Insurable Deposits (Form 2) and the corresponding Auditor Verifications of Policyholders and prepare the Invoices for payment of the Returns of the Insurable Deposits of Policyholders and submit to the MRA Section, annually.
• Prepare Invoices for payment of penalty on late Returns of the Insurable Deposits of Policyholders, as required, and submit to the MRA Section.
• Apply payment of Policyholder’s Returns of the Insurable Deposits to the respective invoices, prepare and submit the corresponding receipts to the Policyholders.

Cash Management

• Timely prepare and disseminate the summary of daily cash flow- bank balances.
• Update the Cash Manager on Microsoft Dynamics SL with the miscellaneous transactions not entered in any other module from the weekly bank statement extracts.

Accounts Payable

• Provide Accounts Payable relief in the absence of the Senior Accounting Officer- Accounts Payable

General

• Support the Accountant in preparing monthly financial statements and reports required by Management and the Ministry of Finance and the Public Service.
• File journals and other accounting documents to facilitate efficient retrieval.
• Assist with the preparation of audit schedules for the internal and external auditors based on agreed deadlines.
• Attend meetings and represent the Department, as directed.
• Support special projects and other duties as assigned.

About the JDIC:

The Jamaica Deposit Insurance Corporation (JDIC) was created by the Government of Jamaica to protect depositors and promote stability and confidence in Jamaica’s financial system and has a mission to:

• Protect insured deposits against loss due to the non-viability of Deposit Taking Institutions; 
• Provide financial and other assistance in the restructuring/resolution of non-viable Deposit Taking Institutions consistent with the parent legislation for the resolution of financial institutions and other applicable law and standards of best practice;
• Manage the Deposit Insurance Fund consistent with its statutory objects;
• Support the promotion of financial consumer protection and financial inclusion;
• Take such necessary steps to minimize its exposure to loss. 

To execute its Mission, JDIC operates a knowledge management environment which promotes excellence in professional and technical expertise allowing employees to realize their potential.  The JDIC core values of Accountability, Communication, Excellence, Professionalism and Teamwork support the institutional strength of the JDIC and its expert cadre of staff. 

The JDIC is regularly cited for its strong reputation for compliance.  JDIC Officers currently sit on the Executive Council and Committees of the International Association of Deposit Insurers (IADI), including chairing its Audit & Risk Council Committee.

More information on the JDIC can be viewed on our website: https://www.jdic.org

About the person:

The preferred candidate needs to have the following:

• Bachelor’s degree in accounting, Business Administration, Management with Finance/Investment major from a recognized tertiary institution

OR

• ACCA Level 1 or AAT Level 3 or equivalent qualification
• Two (2) years’ experience in an accounting position with investing experience.
• Familiar with Government Procurement Guidelines.

Qualifications, Experience and Specific Knowledge and Skills:

• In depth knowledge of accounting functions
• Working knowledge of Microsoft Suite
• Be familiar with International Accounting Standards
• Working knowledge of financial sector and investment analysis
• Knowledge and understanding of information technology systems
• Sound interpersonal skills
• Ability to communicate effectively both orally and in writing
• Sound time management skills
• Ability to organize work efficiently
• Ability to display initiative
• Accuracy
• Confidentiality.

Special Conditions Associated with the Job:

• Required to work overtime
• Numerous critical deadlines

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