Job Purpose
The role holder will be responsible for Accounts payable & Disbursement, Reinsurance Accounting, Tax filing & Payment, Receipting of all company collections, Intercompany, Fixed Assets accounting, Bank & General Ledger reconciliations.
Key Responsibilities
- Collaborate with retail segment lead to ensure strong controls and manage financial risks as well timely financial planning and reporting for Life products.
- Support Financial analysis and reporting for Life and communicate financial results in an accurate and timely manner.
- Build strong financial controls for all business process to minimize risks and meet legal and audit requirements.
- Manage, direct, and develop performance of the Financial Operations and Credit Control Associates.
- Ensure manual payments uploads in ERP are reviewed and approved by the respective operations teams’ functions including; Commissions, Claims, Reinsurance and other service providers.
- Review and approve tax returns and payments in line with the KRA tax requirements including; Excise duty, VAT, WHT, PAYE, Stamp duty and Corporation tax.
- Ensure funds received are receipted including; premiums, rent, assets disposals, loans & mortgages, reinsurance recoveries and monitor unallocated funds within acceptable risk parameters.
- Review Fixed Assets register and movement schedule and ensure month end activities including; disposals, additions, depreciation/amortization and revaluation are performed.
- Compliance with the Insurance Act and Regulations ensure that all IRA and other Regulatory Authorities related compliance guidelines are adhered to.
- Aid the preparation of the annual accounts and financial statements in compliance with the Insurance act, Kenya’s companies act and IFRS in liaison with the Budgeting and Reporting Team.
- Liaising with External Auditors during Interim & final Audits by ensuring that all the schedules are prepared and submitted on a timely basis.
- Coordinate the implementation of Internal and External Audit issues within the agreed timelines.
- Review monthly Intercompany reconciliation and ensure collection and payments where necessary with the relevant Subsidiaries.
- Review and approve monthly Bank and other General Ledger reconciliations
- Maintain and strengthen internal controls over financial reporting.
- Research and resolve accounting issues including evaluation and implementation of new accounting standards.
- Perform any other duties as may be assigned from time to time.
- Ad hoc reports as may be required from time to time.
- Delegated Authority: As per the approved Delegated Authority Matrix.
- Provide training, coaching and guidance to staff appropriately to facilitate personal growth.
Key Performance Measures
- Timely Financial Reporting.
- Cost savings on budget.
- Reconciliation preparation and review.
- Bachelor’s degree in a business-related field.
- MBA will be an added advantage.
- CPA (K) or equivalent Qualification.
- 5 – 7 years of relevant experience.
- Membership of accounting professional body.
- Sound knowledge and well-developed Information Communication and Technology (ICT) skills with hands on experience with computerized accounting applications such as AIMS, ERP systems and Microsoft office software (word, excel, PowerPoint).
- Experience and ability to establish and maintain effective working relations within a team and colleagues from diverse cultural and professional backgrounds with the ultimate aim of achieving organizational goals.
- Excellent organizational and planning skills; ability to identify priority activities and assignments and ability to make necessary adjustments as required.
- Proven ability to transfer knowledge to other staff colleagues at all levels into practical and beneficial use; strong interpersonal skills demonstrated by the ability to lead and gain the assistance and cooperation of others in a team endeavor.
- Possess an innovative mind, a positive attitude and motivation to acquire new knowledge.
Technical/ Functional Competencies
- Knowledge of insurance regulatory requirements.
- Knowledge of insurance products.
- Sales and marketing management skills.
Primary Location
Kenya-Nairobi-Nairobi
Organization
Britam
Job Level
Manager
Job Type
Permanent
Shift
Day Job
Contract Type
Full-time
Job Posting
28-06-2024
Unposting Date
07-07-2024
Number of Openings
1
