Head of Financial Reporting at APA Life Assurance Company Ltd

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.

JOB SKILLS AND 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.