Principal Finance Officer

Ministry of Finance & Public Service

  • Kingston
  • Government>Executive Government Offices

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Principal Finance Officer

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Job Code:FMG/PA 5
Posted On: 
Closing On:
Monday, 24th December 2018 
Friday, 25th January 2019
Department:Finance and Accounts Division
Job Type:
Full Time
Duration:

Job Description:

Job Summary

  • To ensure the effective, efficient and economical use of the ministry's funds in the fulfilment of its corporate objectives and in the pursuit of the implementation of the budget ensuring a high standard of probity, propriety, regularity, transparency, accountability and value for money.
  • Responsible for the overall management of the Finance and Accounts Division of the ministry and will be the principal advisor to the Financial Secretary on all financial matters relating to the Ministry's expenditure budget and other funds and assets under the control of the Ministry.

 

Key Responsibility Areas:

  • To ensure that budgets and cash flows are prepared in line with the Ministry of Finance's guidelines as well as in accordance with the Ministry's corporate plan, policy priorities and resource availability;
  • To maintain control over the Ministry's expenditure, ensuring that expenditure is kept within budgetary limits and that:
    • Performance is at a high standard;
    • Value for money is achieved in the management of public finances;
    • Projects are completed on time and within budget.
  • To ensure the efficient, effective and economical utilisation of assets and other resources.
  • To ensure that the ministry has a proper and effective system of internal control with:
    • High standards of probity, accountability, and transparency; and
    • Full compliance with the FAA Act, its Regulations and Instructions.
  • To ensure the accurate preparation and prompt submission of financial statements to the Auditor General, the Financial Secretary and all other external and internal users.

 

Specific Skills and Knowledge:

  • Excellent knowledge of accounting practices and principles;
  • Excellent knowledge of the Financial Administration and Audit (FAA) Act;
  • Good knowledge of relevant computer systems and applications.

 

Competencies:

  • Strategic Management – Should have the ability to think strategically, plan and set realistic objectives and develop a course of action to manage and achieve the organization's goals;
  • Planning & Organizing - Good planning and organizing skills
  • Leadership – Should have the ability to provide direction, allocate responsibilities and delegate and motivate staff;
  • People Management – Excellent people management skills
  • Problem Solving & Analysis - Logical problem solving and analytical skills
  • Communication - Possess excellent written and oral communication skills
  • Initiative & Judgment - Ability to exercise initiative and sound judgment
  • Interpersonal Skills – Should be able to interact co-operatively with others and build long term internal and external relationships;
  • Quality of Output - Deliver output of a consistently high quality
  • Negotiation – Possess the ability to promote ideas, convince others and gain agreement on proposals, plans and activities.

 

Qualifications and Experience

  • A Masters Degree in Accounting, or Business Administration or Management Studies or equivalent qualification from a recognized tertiary institution along with seven (7) years post qualification experience.
  • Extensive experience in accounting and financial management operations along with six (6) years' post qualification experience in senior management positions.

OR

  • Association of Certified Chartered Accountant (ACCA)/ Certified Public Accountant (CPA) or any equivalent recognized professional qualification in accounting or management along with ten (10) years post qualification experience.
  • Extensive experience in accounting and financial management operations along with six (6) years' post qualification experience in senior management positions.

 

Remuneration Package

  • Salary $ 3,798,856.00- $4,515,646.00 per annum
  • Traveling $1,542,864.00 per annum.

 

Interested persons should forward their applications and resume no later than Friday, January 25, 2019 to:

Acting Senior Director - Human Resource Management & Development
Ministry of Finance & the Public Service
30 National Heroes Circle
Kingston 4
Email: hrapplications@mof.gov.jm

Please note that only shortlisted applicants will be contacted.



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Principal Finance Officer from Ministry of Finance & Public Service Take home pay calculations


           
EARNINGS   DEDUCTIONS
Description     Amount   Description   Amount
Monthly Basic Salary     $329,234.21
  NIS:   $3,125.00
        Income Tax   $50,275.30
      NHT   $6,584.68
          Education Tax   $7,337.46
               
    Total Earnings: $329,234.21   Total Deductions   $67,322.44
               
  Net Pay:   $261,911.77

Principal Finance Officer Monthly Payslip

Gross Salary:  $329,234.21
-Income Tax:  $50,275.30
-NIS:  $3,125.00
-Education Tax:  $7,337.46
-NHT:  $6,584.68
Total Deductions:  $67,322.44
=Net Salary:  $261,911.77
Work Week:  40 Hours/w
Gross Hourly Rate:  $2,057.71 /hr
Net Hourly Rate:  $1,636.95 /hr
Statutory Income  $326,109.21
Taxable Income:  $201,101.21
Income Tax Threshold:  1500096.00
Income Tax Threshold (monthly):  $125,008.00

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