Senior Specialist Fund Accounting

Role summary

To compute accurate and timely Net Asset Values and maintain complete accounting records for all managed funds and Collective Investment Schemes. The role accounts for investments, income, expenses, assets, and liabilities; performs independent reconciliations; prepares financial and regulatory reports; and maintains a clear audit trail for every reported NAV and fund balance.

Principal Responsibilities

Qualifications Required

CRDB Bank is dedicated to upholding Sustainability and ESG practices and encourage applicants who share this commitment. The Bank also promotes an inclusive workplace, hence applications from women and individual with disabilities are encouraged.

It is important to note that CRDB Bank does not charge any fees for the application or recruitment process, and any requests for payment should be disregarded as they do not represent the bank’s practices.

Only Shortlisted Candidates will be Contacted.

• Prepare daily or periodic Net Asset Value calculations and unit prices for each fund in accordance with scheme documents, approved valuation policies, International Financial Reporting Standards, and regulatory requirements.
• Obtain and validate prices, yields, exchange rates, accrual data, and other valuation inputs from approved independent sources.
• Value equities, government and corporate debt securities, money-market instruments, deposits, accrued income, receivables, payables, and other permitted assets and liabilities using the approved methodology.
• Calculate units in issue, total net assets, NAV per unit, offer or issue prices, and repurchase prices where applicable, and submit the complete NAV pack for review and approval.
• Analyse NAV and price movements against prior periods, market movements, cash flows, income, expenses, and tolerance thresholds; investigate and document unusual variances before release; maintain evidence of source prices, calculations, overrides, reviews, approvals, and corrections for each NAV cycle.
• Maintain the general ledger and subsidiary records for each fund in accordance with approved accounting policies and the applicable chart of accounts.
• Record investment purchases, sales, maturities, settlements, corporate actions, income receipts, distributions, subscriptions, repurchases, and other fund transactions accurately and in the correct period.
• Calculate and record interest, dividends, premiums or discounts, realised and unrealised gains and losses, withholding taxes, management fees, custodian fees, trustee fees, audit fees, and other fund expenses.
• Prepare monthly, interim, and annual trial balances, management accounts, financial statements, cash-flow information, and supporting schedules in accordance with applicable financial-reporting requirements; ensure that accounting policies, estimates, classifications, and disclosures are applied consistently and that any change is approved and documented.
• Perform daily reconciliations of cash, investment holdings, unsettled trades, income, expenses, receivables, payables, and valuation records across the general ledger, fund administration system, custodian statements, bank statements, and investment records; reconcile total units in issue and investor transaction totals to the unitholder register maintained by Fund Operations.
• Investigate reconciling items promptly, document the cause and resolution, obtain the required approval for corrections, and escalate aged or material differences; maintain complete reconciliation schedules, supporting evidence, reviewer sign-offs, and an aged-items tracker for audit and management review.
• Calculate management, trustee, custodian, registrar, audit, regulatory, and other approved fees in line with contracts, scheme documents, and applicable caps or rates; monitor fund expenses against approved budgets and Total Expense Ratio limits and report actual or forecast breaches.
• Prepare tax computations, withholding-tax schedules, returns, and payment support within assigned responsibilities, and coordinate technical matters with Finance or tax advisers.
• Calculate distributable income and prepare accounting schedules for income distributions, subject to review and approval.
• Prepare accounting, valuation, NAV, portfolio, and expense information required for management, trustees, custodians, auditors, regulators, and investor reports.
• Prepare audit working papers, confirmations, lead schedules, valuation evidence, and responses to audit queries within agreed timetables; support regulatory inspections and implement assigned audit or control actions by the agreed due dates.
• Apply maker-checker controls and ensure that journals, master-data changes, price overrides, fee changes, and accounting adjustments are properly supported and authorised.
• Maintain accurate static data, valuation parameters, fee tables, accounting mappings, and reporting configurations within authorised access rights; participate in system implementation, user acceptance testing, process automation, and procedure updates affecting fund accounting and NAV production.
• Protect fund and investor information and retain accounting and NAV records in accordance with approved retention requirements.
• Bachelor’s degree in Accounting, Finance, Banking, Economics, Business Administration, Commerce, Investment Management, or a related field.
• Professional certifications such as CPA, ACCA, or an equivalent recognized professional accounting qualification will be an added advantage.
• Minimum of 4 years of relevant accounting experience, including practical experience in fund accounting, asset management, custody, investment operations, or another investment-related environment.
• Demonstrated experience in computing Net Asset Values (NAVs), accounting for financial instruments, preparing financial statements, and performing multi-source reconciliations.
• Practical knowledge of fund accounting, investment accounting, fund valuation, portfolio accounting, and financial reporting processes.
• Strong working knowledge of applicable International Financial Reporting Standards, particularly the accounting and valuation requirements for financial instruments.
• Knowledge of capital markets products and the Tanzanian capital markets regulatory and tax environment.
• Proficiency in accounting, fund administration, spreadsheet, and reporting systems, with strong analytical ability, attention to detail, and problem-solving skills.