Bancassurance Accountant at Sumac Microfinance Bank

About the Role

The job holder will be responsible for monthly analysis of both trade payables and receivables, reconciliation of the general ledger, bank reconciliation, cost management, periodic budget variance review and financial statement audit preparation.

Key Responsibilities: 

• Verify, allocate, post and reconcile accounts payables and receivables. 
• Prepare and post journal entries which includes expenditure allocation. 
• Proper accounting and reporting of both revenue and expenditure items 
• Posting of commission and premium payment from underwriters 
• Track expenditure as per budget and analyse and report any significant variance 
• Account analysis and reconciliation on all ledger accounts 
• Support 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. 
• Timely reconciliation of all accounts receivables and payables 
• Manage trade debtors and creditors ensure compliance with agreed payment timelines. 
• Adherence to quarterly closure procedures with all underwriters on accounts payables and receivables. 
• Proper controls around credit and adherence to credit policy and guidelines 
• Manage administrative functions as considered necessary from time to time 
• Compliance with IFRS17/IAS, Companies Act, and Taxation Act, IRA guidelines and the Company’s policies and procedures. 

Qualifications and Technical Competencies

• University degree in either Finance/Accounting/Economics or Business Admin.
• Professional Qualification (CPA(K) , ACCA, ACA or equivalent ) 
• At least 5 years’ accounting experience in a busy Insurance/Bancassurance environment. 
• Sound knowledge of the Insurance industry and regulatory guidelines. 
• Working knowledge of any insurance underwriting Business Suite with high proficiency in MS office suite 
• Understanding and practical experience dealing with taxation issues and KRA compliance requirements 
• Conceptual and Analytical Skills: Flair with figures, and strong analytical skills with the ability to interpret financial information. 
• Accuracy and attention to detail 
• Excellent interpersonal and negotiation skills 
• Able to communicate effectively with various stakeholders
• Good problem solving and presentation skills