Job Ref. No. JHL028
Position: Senior Cost Controller
Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa.
Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in
East Africa, handling Life, Pensions, General and Medical Insurance. Today, Jubilee is the number one insurer in East
Africa with over 1.9 million clients. Jubilee Insurance has a network of offices in Kenya, Uganda, Tanzania, Burundi and
Mauritius. It is the only ISO certified insurance group listed on the three East Africa stock exchanges – The Nairobi
Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities Exchange. Its regional offices are
highly rated on leadership, quality and risk management and have been awarded an AA- in Kenya and Uganda, and an
A+ in Tanzania. For more information, visit www.JubileeInsurance.com.
We currently have an exciting career opportunity for a Senior Cost Controller. The position holder will report to the
Manager-Group Reporting and Technical Consolidation and will be based at our Head Office in Nairobi.
Role Purpose
The role holder will primarily monitor and manage costs within the organization, ensuring that expenses are effectively
controlled and aligned with budgetary guidelines. The role holder will also analyze financial data, identify cost-saving
opportunities, and implement strategies to optimize expenditures.
Main Responsibilities
Strategy
1. Cost Optimization: Continuously monitor and analyse cost performance against established benchmarks, targets, and
industry standards.
2. Risk Management: Collaborating with relevant stakeholders to develop risk mitigation strategies, ensuring that potential
risks are identified, evaluated, and addressed proactively.
3. Performance Monitoring and Analysis: Continuously monitoring and analyzing cost performance against agreed internal
milestones and targets
4. Process Improvement and Automation: Identifying opportunities to streamline cost control processes and improve
efficiency through automation and technology.
5. Budget Planning and Forecasting: Working closely with finance and operational teams to develop realistic budgets and
forecasts that align with strategic objectives.
6. Continuous Improvement and Best Practices: Proactively seek opportunities for continuous improvement in cost control
processes, tools, and methodologies. Implement industry-leading practices and benchmarking against competitors to
maintain a competitive advantage.
Operational
1. Regularly review cost data, identify cost drivers, and investigate any significant cost variances or deviations from
budgeted targets.
2. Prepare and present timely and accurate cost reports to relevant stakeholders, such as management, department
heads, or project teams.
3. Assist in the development of project budgets by providing cost estimates, analysing resource requirements, and
considering potential risks or contingencies.
4. Implement cost control measures to optimize operational expenditures and minimize waste by identifying areas of
inefficiency, recommending process improvements, and working closely with operational teams to develop and
implement cost-saving initiatives.
5. Collaborate with procurement and inventory management teams to ensure optimal inventory levels while minimizing
carrying costs
6. Ensure compliance with financial regulations, internal control procedures, and auditing requirements related to
operational costs.
7. Collaborate with operational teams to implement process improvements, standardize procedures, and eliminate non-
value-added activities.
Corporate Governance
1. Ethical Conduct and Confidentiality: Upholding high ethical standards and maintaining the confidentiality of sensitive
financial information.
2. Compliance with Policies and Procedures: Adherence to the laws and regulations of Kenya, the policies and regulations
within the insurance industry and all internal company policies and procedures.
3. Audit and Compliance Support: Providing necessary documentation, explanations, and reconciliations to auditors to
ensure compliance with auditing requirements. Addressing audit findings and implementing corrective actions as
necessary.
Leadership and Culture
1. Building the team capabilities and ensuring adequate succession planning within the department
2. Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a
conducive work environment.
3. Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
4. To provide the much-needed transformational leadership to meet and surpass the expectations of stakeholders.
Train on cost control methodologies, financial analysis, systems, and industry best practices.
Key Competencies
1. Leadership: Ability to lead and motivate a team, driving high performance and fostering a collaborative work
environment.
2. Strategic Thinking: Capacity to develop and implement strategies and policies to optimize cost control processes.
3. Analytical Skills: Strong analytical and problem-solving skills to assess complex cost control issues and identify
solutions.
4. Relationship Management: Excellent interpersonal and communication skills to build and maintain relationships with
internal and external stakeholders.
5. Financial Acumen: Understanding of financial principles and budget management to effectively manage costs and
budgets.
6. Regulatory Compliance: Knowledge of insurance regulations and compliance requirements.
7. Process Improvement: Ability to identify opportunities for process optimization and implement improvements to
enhance efficiency and effectiveness.
Qualifications
1. Bachelor’s degree in finance or relevant field.
2. Diploma in Insurance
3. CPA(K) or ACCA Qualification
4. Master’s Degree in a Business-related course will be an added advantage.
Relevant Experience
• Minimum of 5 years’ experience with a focus on Finance.
• Demonstrated experience of working with diverse stakeholders to deliver results.
• Proven track record of successfully implementing strategic cost control initiatives.
If you are qualified and seeking an exciting new challenge,
Please apply via [email protected] quoting the Job Reference Number and
Position by 30th September 2024
Only shortlisted candidates will be contacted.
