Finance Manager, Operations at Britam

Job Purpose:

The Finance Operations Manager will oversee the day-to-day financial operations, ensuring efficiency, accuracy, and compliance with regulatory standards.
This role includes Reinsurance Accounting, Medical Accounting, Bank, Intercompany and general ledger (GL) operations & reconciliations, Fixed Assets management, Accounts payable & Disbursement, Tax filing & Payment, Receipting of all company collections, and providing leadership to the finance operations team. The successful candidate will drive operational improvements, implement best practices, and support the company’s strategic financial goals.
Key responsibilities:

• Collaborate with CFO to ensure strong controls and manage financial risks as well timely financial planning and reporting for GI.
• Build strong financial controls for all business process to minimize risks and meet legal and audit requirements. 
• Collaborate with the CFO in developing and managing the financial operations budget, ensuring alignment with overall business strategy.
• Collaborate with Budgeting and Reporting team on analysis on financial performance, including variance analysis, key performance indicators (KPIs).
• Collaborate with budgeting and reporting team on preparation of forecasts and scenario analysis to guide decision-making and improve operational efficiency.
• Aid the preparation of the annual accounts and financial statements in compliance with the Insurance act, Kenya’s companies act and IFRS in liaison with the Budgeting and Reporting Team.
• Liaising with External Auditors during Interim & final Audits by ensuring that all the schedules are prepared and submitted on a timely basis. 
• Support Financial analysis and reporting for all GI products and communicate financial results in an accurate and timely manner.
• Manage, direct, and develop performance of the Financial Ops and Medical Accounting Associates.
• Review and approve payments in Bank, ERP and any other relevant system including; Medical, Claims, Reinsurance and other service providers.
• Review and approve monthly Bank and other General Ledger reconciliations.
• Review and approve reinsurance reconciliations and payments including; Facultative, Treaty and Excess of Loss and ensure collection and payments with the relevant counter parties.
• Review and approve reconciliation of medical provider accounts, including timely payment of claims and refunds and recovery of discounts and excess billing on a monthly basis.
• Responsible for the preparation and submission of reinsurance returns.
• Review and approve tax returns, payments and reconciliations of the relevant tax ledgers in line with the KRA tax requirements including; Excise duty, VAT, WHT, PAYE, Stamp duty and Corporation tax.
• Review, approve and sign-off Fund Management and Hospital reconciliations.
• Ensure funds received are receipted and allocated accordingly including; premiums, salvages, claim excess, medical cards, motor certificates, assets disposals and reinsurance recoveries.
• Review Fixed Assets register and movement schedule and ensure month end activities including; disposals, additions, depreciation/amortization and revaluation are performed.
• Compliance with the Insurance Act and Regulations ensure that all IRA and other Regulatory Authorities related compliance guidelines are adhered to.
• Coordinate the implementation of Internal and External Audit issues within the agreed timelines. 
• Review monthly Intercompany reconciliation and ensure collection and payments where necessary with the relevant Subsidiaries.
• Preparation of weekly cashflow forecasts and management of cashflows to ensure excess funds are timely invested.
• Maintain and strengthen internal controls over financial reporting.
• Continuously review financial processes to identify areas for improvement, automation, and cost-saving opportunities.
• Collaborate with risk management and compliance teams to maintain the company’s financial integrity and mitigate operational risks.
• Research and resolve accounting issues including evaluation and implementation of new accounting pronouncements.
• Lead and mentor the finance operations team, providing guidance, training, and career development opportunities. Establish performance objectives, conduct performance reviews, and provide constructive feedback.
• Lead the implementation of financial systems, tools, and technologies that enhance operational efficiency and control.
• Ad hoc reports as may be required from time to time.
• Delegated Authority: As per the approved Delegated Authority Matrix.
• Key Performance Measures:

Timely Financial Reporting.

• Cost savings on budget.
• Reconciliation preparation and review.
• TATs on claims payments.

Knowledge, experience and qualifications required

• Bachelor's degree in a business-related field.
• MBA will be an added advantage.
• CPA (K) or equivalent

Qualification.

• 5 – 7 years of relevant experience.
• Membership of accounting professional body.
• Sound knowledge and well-developed Information Communication and Technology (ICT) skills with hands on experience with computerized accounting applications such as AIMS, ERP systems and Microsoft office software (word, excel, PowerPoint).
• Experience and ability to establish and maintain effective working relations within a team and colleagues from diverse cultural and professional backgrounds with the ultimate aim of achieving organizational goals.
• Excellent organizational and planning skills; ability to identify priority activities and assignments and ability to make necessary adjustments as required.
• Proven ability to transfer knowledge to other staff colleagues at all levels into practical and beneficial use; strong interpersonal skills demonstrated by the ability to lead and gain the assistance and cooperation of others in a team endeavor.
• Possess an innovative mind, a positive attitude and motivation to acquire new knowledge