Finanace Manager at KCB Bank Kenya

Role Purpose

Reporting to the Managing Director/ Principal Officer, KCBIA the position is responsible for the overall financial management and oversees the operations of the KCBIA ensuring that all activities are in compliance with the Group’s financial policies and procedures and regulatory requirements. The position shall drive efficiencies across the team and ensure that the financial reporting and management accounts production is delivered within time frames.

Detailed Description

Key Responsibilities

• 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.

Job Requirements

Qualifications and Requirements

• Have 4-6 years of relevant experience working in an Insurance and or related financial services, 4 of which should be in Financial and Management reporting.
• Degree in Insurance, or Business, Finance, or other related field from an accredited institution and relevant professional qualifications.
• Fully qualified Accountant (CPA, ACCA, ACA or equivalent).
• 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 and use of Turn quest system is preferred.
• Excellent written, verbal communication skills and report writing skills.
• Have appreciation and operating knowledge of the regional financial services industry (especially operating dynamics of East Africa), market and global trends as well as challenges
• Sound understanding of statutory and regulatory requirements of corporate governance, business and Insurance operations of East Africa.
• Highest standards of personal conduct, professional performance and business ethics