The CFO will oversee financial planning, risk management, capital allocation, and investment strategies tailored to the dynamics of Kenya’s general insurance market. The role also provides leadership in shaping the financial direction of the company in a competitive and regulated environment.
Key Duties and Responsibilities
Financial Strategy, Planning & Performance
- Develop and execute a robust financial strategy in alignment with corporate goals and industry regulations.
- Lead annual planning, budgeting, and forecasting processes with accountability for financial targets.
- Manage cash flow, capital adequacy, and balance sheet health to meet solvency requirements.
- Provide financial analysis and insight to guide strategic decisions and optimize shareholder value.
Financial Reporting, Controls & Compliance
- Ensure timely and accurate preparation of financial statements in compliance with IFRS (especially IFRS 17).
- Coordinate audits and ensure compliance with statutory, tax, and regulatory obligations under the Insurance Act.
- Establish and monitor internal financial controls to prevent fraud, error, and misreporting.
- Maintain effective relationships with the Insurance Regulatory Authority (IRA), KRA, and external auditors.
Investment & Asset Management
- Oversee investment strategy in line with risk appetite, liquidity, and return objectives.
- Ensure full compliance with IRA investment guidelines and internal investment policies.
- Liaise with investment advisors and committees to optimize portfolio performance.
Risk & Capital Management
- Lead the implementation of enterprise risk management frameworks in financial functions.
- Ensure compliance with capital adequacy frameworks and solvency margin requirements.
- Work with actuaries to manage technical provisions and reinsurance strategy.
Leadership & Cross-Functional Collaboration
- Serve as a financial advisor to the CEO and Board, offering insights to support governance and strategy.
- Build a high-performing finance team with capabilities in analytics, compliance, and insurance finance.
- Partner with heads of underwriting, claims, operations, and IT to align financial management with business operations.
Academic and Professional Qualifications
- Bachelor’s degree in Finance, Accounting, Economics, or a related discipline from a recognized university.
- Master’s degree in Finance
- Professional certification in CPA (K), ACCA, CFA, or CIMA.
- Active membership in a recognized professional body (e.g., ICPAK, ACCA).
Knowledge and Skills
- Minimum of 10 years progressive experience in senior financial roles, at least 5 of which should be in the insurance or financial services sector.
- Proven experience in regulatory reporting, capital planning, risk management, and team leadership.
- Strong familiarity with the Kenyan insurance regulatory framework and market environment.
- Deep knowledge of insurance finance, solvency requirements, and actuarial collaboration.
- Strategic thinking with strong analytical and commercial acumen.
- High integrity and understanding of corporate governance best practices.
- Leadership and people development skills with experience leading cross-functional teams.
- Advanced proficiency in ERP systems, data analytics, and financial modelling tools.
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