Director Finance & Accounts (FMG/PA 4)

Technical /Professional

Expenditure Budget Formulation

• Oversees the preparation of Agency’s annual Budget and ensures its alignment with the Agency strategic and operational plans. 
• Establishes and operates a budgetary implementation system, including the regularity and propriety of all expenditures incurred.

• Ensures that the budget is prepared in accordance with:

                                       I.   Ceilings and guidelines outlined in the Budget Call issued by the Financial Secretary;

                                      II.   The objectives and strategies outlined in the TBL’s Corporate Plan;

• Ensures that the Budget requests from the Departments are closely analyzed to determine that they reflect established levels of allocation and guideline and are supported by realistic Implementation Plans.
• Provides technical advice to the Trade Administrator/CEO, all heads of departments and other relevant personnel on planning, finance and accounts matters. 
• Plans, organizes and directs the work of the Department, including overseeing the creation of the department’s operational plan and budget, and monitoring the Department’s achievement against them;
• Ensures that the Budget estimate of TBL is submitted to the parent Ministry and the MOF&PS in conformity with the prescribed time schedule.
• Establishes a reporting mechanism that supports the timely and full reporting on all financial matters to the parent ministry.
• Ensures the implementation and adherence to accounting policies and procedures as provided by the FAA Act, MoF&PS Circulars and generally accepted accounting practices.
• Ensures that an effective, fair and proper system is in place for the prioritization and settlement of accounts payable.
• Ensures that all deadlines are met for the payment of salaries and other contractual obligations.
• Monitors and analyzes Commitments and Monthly Expenditure Reports, to determine the trend of expenditure, its variances and the reasons for these variances; and advises/makes

Revenue Budget Formulation

• Reviews in conjunction with respective Directors the structure of cost recovery/ fees to ensure that all possible scope for fees/cost recoveries are covered;
• Ensures validity of the estimates of revenue in light of the reasonableness of the existing fees relative to current costs, trends of actual collection and any special factors that will affect future trends etc;
• Ensures the preparation of the Annual Estimates of Miscellaneous Revenues and/or Appropriations-in-Aid in the stipulated format;
• Effectively execute the responsibility pertaining to cash management including:

        I.     Allocating the respective funding to various departments based on the monthly subvention received in accordance with agreed priorities

       II.     Implementing an effective mechanism for containing expenditures within the warrant limits through a system of commitment planning and control

      III.    Ensuring that appropriations-in-aid, if any, are fully realized. 

• Ensures that expenditure against the approved Budget is met from the monthly warrants received and not from unauthorized sources such as withholding statutory and other approved deductions and diverting departmental revenue, etc.
• Ensures the effective collection, accounting and prompt remittance of all revenues to the Accountant General’s Department, Tax Administration Jamaica and the Consolidated funds.

 Cash Management and Expenditure Control

• Conducts a detailed analysis of sums held in the Deposit and Expenditure Clearing Accounts in an effort to identify ‘idle’ funds which can be invested.
• Ensures collection of funds, issuing of receipts and lodgments made to relevant bank accounts.
• Ensures that TBL’s Portfolio deposits are duly accounted for and managed in accordance with agreed guidelines.
• Recommends cost-saving measures, and control systems for the operational use, maintenance and security/protection of all assets under the control of the company.
• Assists the Trade Administrator/Chief Executive Officer in establishing and maintaining an effective and compliant system for the procurement of goods, works and services
• Ensure the effective implementation and monitoring of an effective system of internal control to detect and prevent corruption, fraud, irregularities, misappropriations and any other loss of public funds.
• Liaise with Parent Ministry, MOFPS, EGov, Jamaica Customs Agency regarding cash flow allocation, policies and procedures and JSWIFT System respectively

 Planning, Monitoring and Reporting

• Analyses areas of financial risk in TBL’s operations;
• Assigns resources to undertake special assignments as per approval from the CEO, sub-committees of the Board and or the Board of Directors;
• Manage periodic budget reviews in targeted Departments
• Ensures that there is an effective system for the maintenance of proper records of TBL’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;
• Ensures that proper accounting of project expenditure (specific reference to externally funded projects) to facilitate prompt “draw-downs” and close monitoring of the inflows of external receipts against budgetary targets;
• Implements an effective Management Accounting and reporting system to meet TBL’s operational requirements;
• Maintains effective working relationships with external and internal stakeholders and clients, ensuring that the Department provides a consistently high level of service to them.
• Financial arrangement in place to facilitate lease agreement, including insurance and security.