Reporting to the Head, Bancassurance, the role holder will be responsible for the overall financial management and oversee the operations of the Bank’s Insurance Subsidiary ensuring that all activities are in compliance with the Group’s financial policies and procedures and regulatory requirements.
The key responsibilities of this position will be;
Prepare the monthly financial performance and the accompanying analysis for the Bank’s Insurance Business.
Prepare the quarterly financial reports for consolidation by the Group ensuring they comply with the relevant regulations and in accordance to the Group timelines.
Prepare strategic financial plans, including the budgets and forecasts by collaborating with the Head, Bancassurance. Monitor budgets against targets, and keep senior leadership team abreast of the organization’s financial status.
Coordinate audits by internal auditors, external auditors, and Regulators (IRA, CBK KRA). To follow up all issues raised in audits and inspections reports and resolve them
Ensure compliance with IFRS/IAS, Companies Act, Taxation Act and IRA guidelines.
Ensure all regulatory returns and any other information requested by the regulator is correctly compiled and submitted on time.
Ensure integrity of the general ledger through daily review and analysis and ensure that all Bank accounts and the relevant suspense are reconciled periodically.
To validate and approve all payments related to the business in line with the laid down authorization limits and timings.
Implement robust debtors’ management and reporting system; ensure that the collection schedule is adhered to and that financial data and cash flows are steady to support operational requirements. Ensure creditors and debtors balances are properly reconciled.
Ensure that there are adequate internal control procedures to minimize loss of income or misuse of company assets, and that all the set procedures are adhered to.
Manage the completion of all regular daily, weekly, monthly reporting with all associated commentaries including; month end actuals and forecasts/plan, for multiple key stakeholders (incl. Exec Committee, Board, Finance, Management, Regulators; CBK,IRA, KRA) Ensure there is integrity of the data and consistency of format prior to delivery to stakeholders.
Lead, motivate, and continuously develop a credible high performing team.
In order to be considered for the above position all applicants should have the following:-
University Degree in a business related field from a recognized university. A Masters in any relevant field will be an added advantage.
Fully qualified Accountant (CPA, ACCA, ACA or equivalent).
At least 6 years management experience in a busy Insurance/Bancassurance environment, 4 of which should be in Financial and Management reporting.
Sound knowledge of the Insurance industry and regulatory guidelines.
Understanding of IFRS/IAS and accounting principles.
Excellent planning, problem solving and analytical skills.
Excellent report writing skills.
Knowledge and hands on experience in office automation tools.
The above position is demanding for which the bank will provide a competitive package for the successful candidates. If you believe you can clearly demonstrate your abilities to meet the criteria given above, please submit your application with a detailed CV, stating your current position, remuneration level e-mail and telephone contacts quoting the job title/reference in the subject field to email@example.com
To be considered your application must be received by 30th June 2016