Head of Financial Reporting Job APA Life Assurance, Nairobi, Kenya
Key Primary Responsibilities
Financial Reporting
- Oversee the preparation of monthly, quarterly, and annual financial statements in accordance with IFRS and company policies with conjunction with the Actuarial function.
- Ensure timely completion of month-end, quarter-end, and year-end close processes.
- Review general ledger balances and ensure the accuracy and completeness of accounting records ensuring all accounting entries, accruals, provisions, prepayments, and adjustments are properly recorded and supported.
- Prepare management accounts and financial performance reports for Executive Management and the Board.
- Monitor financial performance against budgets, forecasts, and prior periods and provide explanations for variances.
Regulatory and Statutory Reporting
- Coordinate the preparation and submission of regulatory returns to the Insurance Regulatory Authority and other statutory bodies.
- Ensure compliance with IFRS, Companies Act requirements, tax legislation, and other applicable regulations while overseeing preparation of annual statutory FS and disclosures.
- Coordinate annual external audits and ensure timely resolution of audit findings.
- Drive continuous improvement initiatives aimed at enhancing financial controls and reporting efficiency.
- Monitor changes in accounting standards and regulatory requirements and coordinate implementation activities.
Budgeting and Financial Planning Support
- Support the budgeting, forecasting, and long-term business strategy planning processes.
- Provide financial analysis and reporting support to business units and management.
- Assist in the development of financial models and scenario analysis to support strategic initiatives.
Stakeholder and Audit Management
- Act as the primary liaison for external auditors, internal auditors, tax authorities, and regulators on financial reporting matters.
- Provide financial information and explanations required during audits and regulatory reviews.
- Collaborate with actuarial, treasury, operations, underwriting, and investment teams to ensure completeness and accuracy of financial information.
Leadership and Team Management
- Provide leadership and direction to the team.
- Develop staff capabilities through coaching, mentoring, and training initiatives.
- Foster a culture of accountability, compliance, and high performance within the department.
Academic Qualifications
- Bachelor’s degree in Accounting, Finance, Economics, or related field.
- Master’s degree in Finance, Accounting, or Business Administration is an added advantage.
Skills & Requirements
- Financial Reporting and Technical Accounting Expertise — Strong understanding and application of accounting standards, financial reporting requirements, and technical accounting matters within the insurance industry.
- IFRS and Regulatory Knowledge — Sound knowledge of IFRS standards and insurance regulatory reporting requirements to ensure compliance and accurate reporting.
- Analytical and Problem-Solving Skills — Ability to analyze complex financial information, identify issues, and develop practical solutions.
- Leadership and People Management — Ability to lead, mentor, and develop teams while fostering a high-performance culture.
- Communication and Presentation Skills — Ability to communicate financial information clearly and effectively to management, auditors, regulators, and the Board.
- Time Management and Delivery — Ability to manage multiple reporting deadlines and deliver accurate outputs within strict timelines.
Professional Qualifications
- CPA(K), ACCA or equivalent professional qualification is mandatory.
Experience
- Minimum of 8–10 years of progressive finance experience with at least 3 years in a management position.
- Experience within a Life insurance company is preferred.
- Strong knowledge of IFRS, particularly IFRS 17 and IFRS 9.
- Experience in statutory reporting, audit management, and regulatory reporting.
- Strong understanding of financial controls, taxation, and financial systems.
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