Manager 1: Reporting & Financial Controls

ROLE SUMMARY

The Manager I, Reporting & Financial Controls will be responsible for maintaining a strong internal control environment across the Life Assurance business by implementing, monitoring and enforcing robust accounting and financial controls to safeguard Company assets and ensure financial accuracy. Working closely with key finance & business stakeholders, the role supports overall financial reporting and ensures the timely, complete, and accurate submission of key compliance and statutory returns.

KEY RESPONSIBILITIES

Internal controls

Review and strengthen the financial controls framework across the Life business.

Ensure timely and accurate ledger and sub-ledger reconciliations of premiums, claims, commissions, receivables, payables, reinsurance balances and intercompany accounts. Ensure that all reconciling items are investigated and adjusting entries posted.

Lead the bank reconciliation effort for the Company and supervise the work of the bank reconciliation team, ensuring timely clearance of all reconciling items.

Conduct periodic control assessments to identify potential control gaps, fraud risks, and operational inefficiencies

Working together with the CFO, Head of Finance, and process owners, design practical and timely remediation plans for control deficiencies identified in audit findings. Track progress on resolution of matters raised by auditors and periodically update the leadership team.

Statutory Compliance

Maintain and track the Company’s compliance schedule to ensure that all compliance obligations are met on a timely basis

Ensure compliance with all applicable regulatory and statutory requirements including obligations to IRA, RBA, UFAA, PCF, and KRA

Working closely with relevant departmental leads, ensure that all information required for compliance purposes is provided in a timely manner and handle/escalate instances of delay

Support compliance with applicable tax laws including liaison with the tax team on matters such as corporation tax computations, withholding taxes, withholding VAT and any other taxes processed by the Finance Team.

Keep abreast of all relevant laws, regulations, and industry standards and keep the Finance leadership team appraised on all regulatory change

Financial Reporting

Working closely with the financial reporting team, support the preparation of accurate monthly, quarterly and annual financial reporting, including statements prepared under the IFRS 17 standard.

Support monthly posting of general ledger journal entries into the financial system, and ensuring financial journals have been properly reviewed and approved.

Where applicable prepare ad hoc reports and analysis on the financial statements and other areas of interest as maybe required by the Company

Support the budget management process by reviewing LPOs and payment vouchers and ensuring that they are charged to the correct budget lines.

Support the reporting team with the end of year audit process by preparing the required audit schedules and financial statements disclosures

ACADEMIC AND PROFESSIONAL QUALIFICATIONS & EXPERIENCE

Bachelor’s degree in Finance, Accounting, Commerce or related field.

CPA(K), ACCA or equivalent professional qualification.

7 to 10 years’ relevant experience, preferably within insurance or financial services sectors.

Good understanding of Life Assurance accounting, IFRS 17 and insurance sector and other regulatory requirements.

Strong financial controls, reconciliation, audit and risk management experience.

Proficiency in financial systems, ERPs, and in the use of data analytics tools

KEY COMPETENCIES REQUIRED FOR THE ROLE

Ability to work under pressure and deliver timely results

Strong team working skills

Strong analytical ability.

Attention to detail.

Risk and control mindset.

go to method of application »

Minimum qualifications

BA/BSc/HND

How to apply

Use the link(s) below to apply on company website.

Pension Support Assistant

Trust Consultant

Manager 1: Reporting & Financial Controls

Associate II: Reporting

Associate II : Medical Claims & Adjudicator

https://www.myjobmag.co.ke/apply-now/1381624

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