Tanzania Securities Limited (TSL) is a leading broker-dealer, investment advisor and fund manager licensed by both Capital Markets and Securities Authority (CMSA) and Dar es Salaam Stock Exchange (DSE) since year 1998. Over time, TSL has assisted Corporates, Small & Medium Enterprises (SMEs) and existing  /  Start-up  Companies  to  raise  financing  through  the  Initial  Public  Offering  (IPOs)  and subsequently managed the listing process into the Dar Es salaam bourse via Main Investment Market (MIM) or under the special vehicle known as Enterprise Growth Market (EGM).

Finance Department Overview

The finance department is at the center of organization and is responsible for ensuring the efficient financial management and financial controls necessary to support all business activities. The department plays a vital role in running our businesses because it helps the organization to track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions

The accounting desk focus is on the day-to-day financial activities (the inflow and outflow of money) in the company. It also deals with the processing of all accounting information. It records accounts payable and receivable, fixed assets, payroll, inventory, and other accounting elements. Accounting is essential to keep track of a business’ activities. Allocating the business costs to goods or services, creating a budget for business functions, and preparing financial reporting for business decisions are all aspects of accounting. Reports can be tailored to inform specific financial management strategies for individual sectors of your business.

Job Summary:

The Senior Accountant has the responsibility to support the Head of Finance in ensuring all Tanzania Securities LTD (TSL) financial accounts are accurately maintained and in compliance with statutory and company processes. He/she will also oversee expenditures and support in the preparation of financial reports – monthly managements accounts and financial statement for audit, performing account reconciliations, preparing tax returns, and performing other accounting duties as assigned.

Key Responsibilities

1)    Financial Accounting and Reporting

• Ensure prompt and accurate recording of all transactions, aligning with the organization’s financial policies, and IFRS standards.

• Prepare monthly balance sheet reconciliations, including bank, staff advances, cash, and supplier reconciliations, resolving discrepancies promptly and escalating exceptions to the Head of Finance.
• Assist the Head of Finance in maintaining robust financial systems and internal controls, emphasizing proper forms, procedures, and document management to enhance control measures.
• Support the Head of Finance in generating timely financial reports, including monthly, quarterly, and annual statements, as well as ad hoc reports required for external audits.
• Act as the main point of contact for program and cross-cutting teams regarding financial accounting inquiries and issues related to the firm and provide ad hoc accounting support as needed by the Head of Finance and/or the firm.
• Collaborate with the Head of Finance to ensure adherence to key payment deadlines for commitments such as rent, insurance, and statutory payments.
• Assist the Head of Finance in budgeting and uploading budgets into the financial system, making adjustments as necessary, subject to relevant approvals.

2)    Treasury Management

• Prepare and process financial documentation for payment, ensuring compliance with relevant authorizations.
• Initiate payments using both cheque and online banking methods, adhering to TSL’s Delegation of Authorities matrix and Finance policy.
• Manage and replenish the office petty cash, reconciling it monthly to maintain accuracy.
• Assist the Head of Finance in the timely preparation and submission of fund requests and internal fund transfer requests for monthly expenditures.
• Act as an agent for TSL’s bank accounts, facilitating deposits, collecting petty cash, and handling other banking activities.

3)     Compliance, Systems and Audit

• Provide assistance to the Head of Finance in matters related to company audits and assist in ensuring compliance with tax regulations and other financial matters related to TSL activities.
• Ensure proper filing of all financial transactions and accounting documents, adhering to document retention rules and internal information policies.
• Prepare and timely submit statutory returns, such as Withholding Tax, Provisional Returns, and VAT, in accordance with Tanzania Tax Law. Follow up on legal payment receipts.
• Collaborate with the Head of Finance to prepare year-end audit files and maintain communication with auditors during reviews and address any tax audit-related issues as they arise.
• Champion the use of the financial system in Tanzania, being the point of reference for all users who have queries in connection with the financial system and its enhanced functionality.

4)   Fixed Assets Management

• Maintain a comprehensive asset register and establish asset management procedures, including timely recording of additions, disposals, and changes and ensure adequate insurance cover over all branch assets.
• Tag all TSL fixed assets and assign appropriate codes to new additions. Exercise control over the movement of TSL assets and ensure the security of all assets.
• Conduct periodic asset verification exercises, calculate depreciation and create journal entries for depreciation expenses in the system and manage the disposal of assets.
• Reconciliation between FAR and Trial balance.

Required Skills/Ability /Competencies:

• Excellent interpersonal skills.
• Excellent communication skills
• Excellent Analytical skills
• Proficient with Microsoft Office Package

Qualifications & Experience:

• A fully Qualified Accountant with ACCA, CPA or similar professional qualification
• At least 5 years’ professional experience in a senior financial management role in a demanding, fast-paced environment.
• A minimum of bachelor’s degree in business administration, Accounting or a related subject.
• Experience in using key financial systems, policies and procedures, including experience of accounting software packages.
• Computer literacy and proficiency in Microsoft Office software including Word, Excel, Outlook and Power Point
• Experience in planning work and making sure that work is delivered according to time scales and required milestones.
• Fluency in English and Kiswahili, both written and verbal