Insurance - Manager - Financial Reporting

Summary

The role sits within Group Finance and supports comprehensive finance needs for the insurance subsidiary (HFBI), the holding company (HF Group) and other inactive subsidiaries.

The role holder is expected to be experienced in financial reporting for banks and insurance companies and will be responsible for the preparation of management accounts for the entities, financial reporting, credit control, planning and budgeting, internal and external audit for the entities and support the Head of Finance Shared Services with consolidation.

Principle Accountabilities

Management Reporting

• Ensure end-of-month processes and procedures are adhered to and period close is done as per the policy
• Ensure efficient and effective accruals for costs yet to be booked by the last day of each month
• Prepare the management reports
• Ensure that the TBs are reliable
• Investigate system anomalies and work with system teams and the vendor to resolve system issues
• Ensure end-of-year processes and procedures are adhered to and year close is done as per the pol
• Performing monthly comparative statistical analyses of financial numbers, following up on unusual variances with business teams, and preparing highlights of the major variations

Financial Reporting

• Prepare the financial reports to senior management and the board.
• Prepare the audited financial reports for the insurance business, inactive entities and support with the consolidated financials
• Preparation and submission of all relevant regulatory reports
• Guide accounting requirements (IFRS) for insurance business and consolidations
• Facilitate cross-functional learning programs on new accounting and reporting requirements

Coordination of internal and external audits

• Ensure audit schedules requested by the auditors are timely provided.
• Articulate management judgement to external and internal auditors on reporting standards, regulatory guidelines and internal controls
• Ensure audit queries are handled and, where necessary, escalations are done.
• Assist to close finance related matters raised by external auditors.

Credit control

• Oversee premium collection & reconciliations
• Ensure cover notes/policies lapse if premium timelines are breached
• Guide on and enforce approved credit periods for policyholders and employers

Principal Output for this Role

• Monthly management reports
• Quarterly publications
• Internal and external audit liaison

Key Competencies and Skills:

• Advanced Ms Excel proficiency
• Good understanding of IFRS 17
• Good understanding of IRA regulations relevant to reporting
• Excellent analytical skill
• Ability to meet stringent deadlines
• Good negotiation and interpersonal skills

Minimum Qualifications, Knowledge and Experience

• Degree in business related field
• CPA(K)
• Registered member of the ICPAK

Experience

• At least 5 – 7 years’ experience in financial reporting (of which at least 3 must have been in insurance and at least 2 preferably in banking financial reporting)
• Advanced Ms Excel proficiency
• Good understanding of IFRS 17
• Good understanding of IRA regulations relevant to reporting
• Experience in external audit for insurance companies and banks will be an added advantage
• Prior user experience in SAP will be an added advantage

Key Competencies and Skills:

• Advanced Ms Excel proficiency
• Good understanding of IFRS 17
• Good understanding of IRA regulations relevant to reporting
• Excellent analytical skill
• Ability to meet stringent deadlines
• Good negotiation and interpersonal skills

Skills Required:

• Sales / Marketing / Business / Management