Job Openings at Jubilee Insurance

Job Ref. No: JLIL 303

Role Purpose

The role holder plays a pivotal role in the financial reporting function and overseeing the accounts payable process within Jubilee Life Insurance Limited. The primary purpose of this role is to ensure accurate and timely financial reporting, compliance with accounting standards, and efficient processing of vendor payments. The role holder will collaborate closely with the Finance team to support financial operations and maintain financial integrity.

Main Responsibilities
Strategy

• Effective Accounts Payable Management. Optimize the accounts payable process by streamlining workflows and implementing efficient payment procedures. Ensure timely payments to vendors, enhancing vendor relationships and mitigating the risk of late payment penalties, double payments or supply chain disruptions.
• Financial Analysis and Insights. Provide valuable financial analysis, variances, and insights to senior management and stakeholders. Support decision-makers with actionable information, aiding in budgeting, forecasting, and strategic planning processes.
• Proactive Financial Risk Management. Identify, assess, and mitigate financial risks to safeguard the company's financial stability. Develop and implement risk management strategies to protect the company from various financial exposures, ensuring resilience against economic uncertainties.
• Process Improvements. Continuously assess and improve financial reporting and accounts payable processes to enhance efficiency and accuracy. Optimize resource utilization, reduce processing time, and enhance overall financial operations.

Financial Reporting

• Preparation of accurate and timely financial statements, including income statements, balance sheets, and cash flow statements.
• Ensure compliance with accounting principles and regulatory requirements in financial reporting.
• Collaborate with internal and external auditors to facilitate audits and provide necessary financial information.
• Conduct ledger reconciliations, specifically expenses, commission, claims and reinsurance to ensure accurate financial data and reporting.
• Manage the accounts payable process, including invoice processing, payment processing, and vendor management.
• Ensure timely and accurate payments to vendors while adhering to company policies and payment terms.
• Review and approve high-value payments and monitor payment runs.
• Conduct financial analysis to provide insights into financial performance and variances for management review.
• Ensure compliance with internal control procedures related to financial reporting and accounts payable.
• Implement process improvements to enhance efficiency and strengthen internal controls.
• Collaborate with the Finance team in the budgeting and forecasting process to provide accurate financial data and analysis.

Expenses Management/Reporting

• Oversee posting of daily expenses transactions in the cash book.
• Conduct daily in-depth analysis of all company expenses to ensure proper accounting and errors are corrected immediately
• Ensuring proper accounting of all expenses both business and shared expenses
• Regular review of the expenses sharing ratios and work closely with JHL to implement changes in the ratios
• Preparation of detailed monthly expenses report for management reporting, detailing variances and comments.
• Preparation of annual expenses budget and forecasts
• Research on areas of expenses reduction through leakages and advise management
• Preparing periodic ad hoc reports that compare budgeted expenses against actual expenses.
• Ensuring expenses records are ready for audit within the set deadlines. Providing the necessary information for internal and external audits.
• Analysis and reconciliation of the expenses accrual account and reversing the excess accruals carried by the business
• Preparation of expenses input for actuarial valuations splitting the expenses into acquisition, maintenance, attributable and non-attributable for IFRS 17 cashflows.
• Expenses investigation to ascertain as to nature, validity and necessity.
• Work closely with the procurement department to ensure process flow and efficiency
• Updating and monitoring expenses reports in PBI to ascertain correctness and completeness
• Work closely with the Senior Manager Finance and Head of Finance to improve efficiency of expenses management and reports

Commission Management/Reporting

• Generating detailed commission reports for management reporting and annual audit schedule, including breakdowns by product line, agent, and sales period
• Analyze commission data to identify areas for improvement and make strategic recommendations to management
• Generate comprehensive reports on commission payouts, agent productivity, sales trends, and key performance indicators (KPIs).
• Reconciling commission calculations with sales data and accounting records
• Monitor system functionality and identify areas for improvement
• Avail commission reports/schedules for both internal and external audits and ensure all audit issues are closed
• Fully reconcile all commission related ledgers and ensure they are fully supported
• Assist in deriving the commission figures for budgeting annually and uploading the same to PBI

Claims Management/Reporting

• Generating the monthly claims reports monthly to aid in the management reporting
• Reconciliation of the claims ledgers and making sure correct claims numbers are reported
• Liaise with the head of claims for all matters claims
• Avail all claims reports for both internal and external reports
• Update and avail claims figures for IFRS 17 cashflows input
• Monthly filing of the summary of claims with IRA
• Avail and update the claims financial notes annually for the preparation of the financial statements
• Work closely with IT in identifying gaps in the claims management system module and suggest improvements
• Develop, maintain and improve the internal controls around claims management

Reinsurance Management/Reporting

• Generating the monthly reinsurance reports monthly to aid in the management reporting
• Posting of all reinsurance journals; ceded, commissions and claims recoveries
• Ensure settlement of all reinsurance ceded premiums in all quarters
• Reconcile and ensure collection of all commission incomes and claims recoveries
• Availing all reinsurance cashflows for IFRS 17 reporting
• Fully reconcile all reinsurance related ledgers and ensure proper balances are reported
• Work closely with IT to ensure full automation of reinsurance management process and reinsurance debtors reports while identifying system gaps for improvement
• Assist in deriving the reinsurance figures for budgeting purposes and assist in upload of the final figures in PBI.
• Avail fully updated reinsurance schedules for both internal and external audits and ensure audit queries identified are closed
• Work closely with Operations department to improve internal controls around reinsurance management
• Ensure quarterly reconciliation of reinsurance balances with both Operations department and reinsurers

 Corporate Governance

• Compliance. Stay updated on emerging trends, best practices, and industry benchmarks related to IFRS17 implementation and compliance.
• Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.

 Leadership & Culture

• Building the team capabilities and ensuring adequate succession planning within the department.
• Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
• Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
• To provide the much-needed transformational leadership to meet and surpass the expectations of stakeholders.

Key Competencies

• Strong understanding of insurance accounting principles and practices.
• Financial reporting and analysis skills.
• Excellent analytical and problem-solving skills to assess complex financial issues and develop appropriate solutions.
• Excellent project management skills.
• Financial acumen. A deep understanding of financial markets, investment strategies, and financial risk management principles within the life insurance industry.
• Analytical skills. Strong analytical abilities to assess financial data, market trends, and risk exposures to make informed decisions.
• Strategic thinking. Ability to align treasury strategies with the company's financial objectives and long-term business plans.
• Leadership. Effective leadership skills to manage the finance team and collaborate with other departments.
• Communication and relationship management. Excellent communication skills to interact with stakeholders andbuild strong relationships with financial partners.
• Problem-solving. Proficiency in identifying and resolving complex financial and treasury-related challenges.

Academic Background & Relevant Qualifications

• Minimum of 4-6 years of experience in finance and accounting roles, including experience in financial reporting and compliance.
• Significant experience in the insurance industry and knowledge of insurance accounting standards.
• Experience in leading and managing cross-functional projects or initiatives.
• Proven experience in a supervisory role (minimum of 2 years).

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Job Ref. No: JLIL 302

Role Purpose

• The role holder will be responsible for development and execution of the sales and customer retention strategy through the IFA channel. This includes recruitment and management of Independent Financial Advisors.

Main Responsibilities

Strategy

• Supporting the Head of Alternative Distribution & Partnerships in the development of the IFA channel strategy with supporting budgets and business plans
• Implement strategies for the IFA channel to increase sales, lower costs, and obtain greater efficiency.
• Oversee the financial performance of the IFA channel including budgeting, forecasting, and financial analysis.
• Develop and execute a comprehensive roadmap for the channel, aligned with the organization's goals and market trends.
• Execute comprehensive business development strategies to drive revenue growth and market expansion. Implement strategies to enhance client retention and satisfaction, including regular client engagement and relationship management.
• Foster relationships with key stakeholders, industry associations, and influential networks to enhance the company's visibility and reputation.
• Monitor performance and risk exposure on an ongoing basis.

Business Growth & Development

• Identify and assess new business opportunities within the IFA channels workstreams. Execute the company's distribution strategy, aligning it with overall business goals and market trends. Identify growth opportunities and expansion areas for the channel.
• Conduct market research and analysis to identify target markets, customer segments, and competitive landscape.
• Collaborate with the marketing team to implement sales and marketing initiatives to attract new clients and increase market share.
• Lead efforts to acquire new clients by building and maintaining a strong pipeline of prospects.
• Conduct client presentations, negotiations, and contract discussions to secure new business.
• Collaborate with internal teams to ensure alignment of business growth initiatives with operational capabilities.
• Represent the organization at industry events, conferences, and seminars to build networks and identify potential partnerships

Operational

• Oversee the IFA channel and monitor its growth, recruit, train, and mentor the Independent Financial Advisors.
• Drive achievement of the revenue budget through Independent Financial Advisors.
• Monitor and maintain policies persistency though efficient customer service and retention strategies
• Design and oversee comprehensive training programs for the IFAs to enhance their product knowledge, sales skills, and customer service capabilities. Monitor the effectiveness of training programs and provide ongoing support to the advisors
• Ensure the efficient and compliant operation of all processes and procedures within IFA channel
• Establish and maintain strong relationships with key clients, addressing their needs, and proactively identifying opportunities to enhance their experience.
• Monitor client feedback, analyze trends, and implement measures to improve service quality and exceed client expectations.

Jubilee Life Brand

• Ensuring effective public relations and enhancing the company’s corporate image with all stakeholders and partners.

Corporate Governance

• Compliance. Stay updated on insurance related, industry regulations, compliance requirements, and best practices.
• Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all
• internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.
• Implement effective risk management strategies, including appropriate internal controls, to mitigate operational, financial, and regulatory risks.

Leadership & Culture

• Oversee the IFA productivity
• Provide leadership to the team and build know-how and knowledge sharing to create efficiencies and synergies.
• Building relevant departmental capacity to deliver on strategy by leading, guiding, directing, and evaluating the work of the team.
• Fostering a culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment for attracting, retaining, and motivating employees.
• Conduct regular team meetings and training sessions to enhance skills and knowledge related to financial reporting and industry trends. 

Key Competencies

• Customer-Centric Leadership: Ability to lead the customer experience function with a strong focus on meeting customer needs and expectations.
• Data-Driven Decision-Making: Skill in using customer data and feedback to make informed decisions and drive improvements.
• Strategic Thinking: Ability to think strategically and align marketing initiatives with business objectives and market dynamics.
• Leadership and Team Management: Skill in leading and motivating marketing teams to achieve performance goals and foster a collaborative work environment.
• Communication and Persuasion: Excellent communication skills to effectively convey marketing messages to various stakeholders and influence decision-making.
• Creativity and Innovation: Capacity to generate creative ideas and develop innovative marketing campaigns that differentiate the company in the market.
• Analytical Skills: Proficiency in analyzing marketing data and metrics to derive actionable insights and make datadriven decisions.

Academic Background & Relevant Qualifications

• Bachelor’s degree in Business, Commerce, Sales, Finance or any other related course
• Relevant Sales Related Qualifications, Masters Degree is an added advantage
• COP certification or a Diploma in Insurance
• Minimum 5 years’ experience in a similar role
• Extensive experience in leading and managing Sales function within the insurance sector.
• Proven experience in developing and implementing sales strategies as well as delivering performance though sale agents.

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Job Ref. No: JHIL158

Role Purpose

The role holder will be responsible for the management, administration and control of the company’s underwriting operations to ensure profitable growth, quality and timely service. Responsible for timely set-up, renewal, service and support, documentation, and management of schemes on ACTi sure, and handling related queries from clients and intermediaries on new or existing schemes. Provide dedicated and comprehensive service to the intermediaries, clients and internal customers with a proactive approach to ensure business acquisition and retention of the schemes by meeting set service timelines while ensuring underwriting guidelines and controls are strictly adhered to and enforced.

Key Responsibilities

Strategy

• Contribute to the development and implementation of underwriting strategies and philosophies, aligning them with the company's overall business goals.
• Identify and assess emerging risks in the insurance sector and propose strategies to effectively mitigate those risks.
• Design and implementation of automated underwriting processes to drive efficiency and Customer excellence, and development of intelligent underwriting models to drive growth, profitability and customer behaviour.

Operational

• Develop and implement the underwriting philosophy for business including underwriting guidelines, underwriting manuals and authority matrices.
• Review and approval of non-standard quotations for underwriting compliance.
• Review and approval of renewal terms and conditions for underwriting compliance.
• Quality assurance of new, renewal and additional business to ensure adherence to underwriting guidelines and customer excellence.
• Timely issuance of policy and underwriting documents.
• Support the distribution team in new business acquisition and renewal engagements to close contracts.
• Preparation of various underwriting reports for management insights and decision making.
• Re-underwriting of the corporate book for profitable growth.
• Schemes Onboarding: Ensure accurate membership set up, benefits set up, prompt debiting and dispatch of premiums invoices and the renewal/commencement premium schedules to the client/intermediary.
• Scheme Maintenance: Manage membership details in ACTi sure and ensure timely scheme maintenance i.e., timely communication to intermediaries/clients/Relationship managers, issuance of policy documents and contracts, timely dispatch of premium debits/credits, scheme reconciliations, reporting and ensure all agreed TATs are met.
• Ensure accurate system capture of medical benefits purchased and members covered, prompt debiting and dispatch of premiums invoices and the renewal/commencement premium schedules to the client/intermediary.
• Ensure all documents required by client/intermediary are issued within the expected TATs and SLA.

Corporate Governance

• Ensure compliance with underwriting guidelines, company policies, and regulatory requirements, maintaining high standards of ethical and legal conduct.
• Establish and maintain risk control measures to monitor and manage risks associated with insurance policies effectively.

Leadership & Culture

• Provide guidance, mentorship, and technical expertise to junior underwriters, fostering a collaborative and supportive work environment.
• Build and maintain positive relationships with brokers, clients, and other internal and external stakeholders, providing exceptional customer service.

Key Skills and Competencies

• Analytical Thinking: Ability to analyse complex underwriting data, identify patterns, and make informed underwriting decisions based on sound judgment.
• Attention to Detail: Thoroughly review and assess insurance applications, policies, and related documents to ensure accuracy and minimize errors.
• Decision-Making: Demonstrate strong decision-making skills in assessing risks, evaluating options, and determining appropriate underwriting actions for insurance policies.
• Communication: Excellent communication skills to effectively convey underwriting decisions, policy terms, and conditions to stakeholders in a clear and concise manner.
• Financial Analysis: Proficient in analysing financial statements and evaluating the financial stability of clients.
• Risk Evaluation: Strong understanding of risk assessment methodologies and underwriting principles specific to the insurance segment.

Academic & Professional Qualifications

• Bachelor’s degree in business administration, Actuarial Science, Finance, or a related field. Master's degree is a plus.
• Professional Insurance Qualification.

Relevant Experience

• A minimum of four (4) Years Experience in Health Underwriting.

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Job Ref. No: JHIL159

Role Purpose

Responsible for supporting the sales and recruitment efforts of an insurance company by designing and implementing effective training programs for sales teams and attracting talented individuals to join the company's sales force. This role focuses on enhancing the sales capabilities of the team and ensuring a strong pipeline of skilled sales professionals

Key Responsibilities

Strategy

• Training Strategy: Develop and implement a strategic training plan to enhance the sales skills, product knowledge, and overall performance of the sales team.
• Recruitment Strategy: Develop and execute a recruitment strategy to attract and select high-performing sales professionals who align with the company's values and objectives.

Operational

• Training Program Development: Design and deliver training programs and materials for new hires, existing sales representatives, and sales managers to improve their selling techniques, product knowledge, and customer service skills.
• Sales Performance Monitoring: Monitor and evaluate the effectiveness of training programs, track sales performance metrics, and provide feedback and coaching to sales teams for continuous improvement.

Leadership & Culture

• Team Leadership: Provide leadership and guidance to the sales training and recruitment team, fostering a culture of collaboration, continuous learning, and high performance.
• Sales Culture Promotion: Instil a sales-focused culture within the organization by promoting teamwork, motivation, and a customer-centric approach to achieve sales targets.

Laws, Regulations, Company Policies:

• Stay informed about and strictly adhere to all external laws, including Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) laws, Data Protection laws, and any other relevant regulations applicable in the insurance industry.
• Understand, implement, and enforce internal company policies, processes, and procedures.
• Ensure that operational compliance programs are in place within your department.
• Implement processes and controls that promote compliance with external laws, regulations, and internal policies.
• Foster a robust ethical culture within the organization, demonstrating and promoting ethical behaviour, integrity, and compliance with laws and regulations.
• Encourage open communication and reporting of any potential compliance concerns or violations.

Key Skills and Competencies

• Communication and Presentation Skills: Excellent verbal and written communication skills to effectively deliver training programs, engage participants, and convey information clearly.
• Relationship Building: Ability to build and maintain relationships with sales teams, internal stakeholders, and external training providers to ensure successful training and recruitment outcomes.
• Analytical Thinking: Strong analytical and problem-solving skills to evaluate training needs, assess sales performance, and identify areas for improvement.
• Leadership and Motivation: Ability to inspire and motivate sales teams, fostering a positive work environment and driving a high level of performance.

Academic Qualifications

• Bachelor’s degree in business administration, Finance, or a related field.
• Professional Insurance Qualification.

Relevant Experience

• At least 3-5 years of experience in sales training, recruitment, or a related field, preferably within the insurance or financial services industry.

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Job Ref. No: JHIL160

Role Purpose

Responsible for timely set-up, renewal, servicing and support, documentation, and management of schemes on ACTi sure, and handling of related queries on from clients and intermediaries on existing schemes. Provide dedicated and comprehensive service to the intermediaries and clients with a proactive approach to ensure business retention of the schemes by meeting set service timelines while ensuring underwriting guidelines and controls are strictly adhered to and enforced.

Key Responsibilities
Operational

• Policy Onboarding: Ensure accurate membership set up, benefits set up, prompt issuance of acceptance letters, debiting and dispatch of premiums invoices and the renewal/commencement premium schedules to the client/intermediary.
• Policy Maintenance: Manage membership details in ACTi sure and ensure timely and accurate policy maintenance i.e., timely communication to intermediaries/clients/Relationship Managers, issuance of policy documents, timely dispatch of premium debits/credits, scheme reconciliations, reporting and ensure all agreed TATs are met.

Corporate Governance

• Compliance: Ensure compliance with regulatory requirements, underwriting standards, and company policies, and adhere to ethical practices.
• Policy Review: Regularly review and update underwriting policies and guidelines to reflect industry changes and mitigate risks.

Leadership & Culture

• Compliance: Ensure compliance with regulatory requirements, underwriting standards, and company policies, and adhere to ethical practices.
• Policy Review: Regularly review and update underwriting policies and guidelines to reflect industry changes and mitigate risks.

Key Skills and Competencies

• Decision-Making
• Effective Communication
• Adaptability
• Negotiation Skills

Academic & Professional Qualifications

• Bachelor’s degree in Insurance or related field.
• Insurance Professional qualification will be an added advantage

 Relevant Experience

• Minimum 1 Year Experience
   

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Job Ref. No: JHIL161

Role Purpose

The Third-Party Fund Administrator (TPA) will oversee the management and administration of funded schemes. This role ensures efficient utilization, accurate reporting, and proper allocation of funds, while maintaining strong relationships with clients and healthcare providers. The role will also play a key role in underwriting processes to minimize risks and ensure compliance with regulatory requirements.

Key Responsibilities
Strategy

• Develop and implement strategies to optimize the utilization of medical insurance funds.
• Forecast fund requirements based on claims trends, risk assessments, and actuarial insights.
• Collaborate with underwriting & actuarial teams to design pricing models and policies that align with strategic objectives.
• Identify potential risks related to fund mismanagement, fraud, or over-utilization and propose mitigation strategies.
• Provide insights on industry trends and emerging practices in fund administration to enhance competitive advantage.
• Align fund management strategies with client needs, company objectives, and regulatory frameworks.
• Lead initiatives to strengthen relationships with key stakeholders, including insurers, healthcare providers, and corporate clients.

 Operational

• Manage fund utilization and monitor balances to avoid shortfalls or overages.
• Ensure timely collection of replenishments and deposits to client fund accounts.
• Process medical claims within agreed timelines and ensure accurate reconciliation with allocated funds.
• Review, process, and approve claims based on set policies and procedures.
• Prepare and present detailed fund utilization and performance reports for internal and external stakeholders.
• Address disputes or discrepancies in claims or fund balances, ensuring prompt resolution.
• Identify and implement process improvements to enhance the efficiency of fund administration operations.
• Use data analytics tools to track fund performance and streamline decision-making processes.

 Corporate Governance

• Ensure all fund administration activities are in compliance with local laws, company policies, and industry regulations.
• Maintain strict confidentiality and data privacy for all financial transactions and client records.
• Conduct regular fund audits and implement internal controls to ensure transparency and accountability.
• Prepare for and manage external audits, providing necessary documentation and explanations.
• Develop and enforce policies and guidelines for fund management and underwriting operations.
• Ensure all stakeholders adhere to corporate governance standards in fund administration processes.

Leadership & Culture

• Build and maintain strong relationships with healthcare providers, corporate clients, and insurers.
• Act as the primary contact for TPA clients, resolving issues and ensuring high satisfaction levels.
• Regularly engage with clients and partners to understand their needs and improve service delivery.

Key Skills and Competencies

• Proficient in managing, allocating, and reconciling funds for medical underwriting and claims.
• Expertise in tracking fund utilization and ensuring adherence to agreed limits.
• In-depth understanding of medical insurance underwriting principles, risk assessment, and pricing strategies.
• Ability to evaluate medical claims and align them with underwriting policies.
• Skilled in verifying and approving medical claims based on policy terms and fund availability.
• Competence in managing claims workflows to ensure efficiency and accuracy.
• Proficient in analyzing fund performance, utilization trends, and identifying anomalies.
• Strong ability to prepare and present detailed reports on fund administration and claims activity.
• Effective at coordinating with insurers, healthcare providers, clients, and internal teams to address fund-related inquiries.
• Skilled in building and maintaining strong stakeholder relationships for seamless operations.
• Strong understanding of regulatory frameworks governing fund administration and medical underwriting.
• Experience in implementing measures to ensure compliance and mitigate risks, including fraud detection.
• Capability to identify inefficiencies in fund management and claims processing, and recommend improvements.
• Skilled in creating and maintaining fund administration policies that align with organizational and regulatory standards.

Academic & Professional Qualifications

• A Bachelor’s degree in Actuarial or a Business-related course.
• Mandatory Insurance Professional qualification.
• Proficient in the use of Microsoft Office Suite and packages.

 Relevant Experience

• Minimum of 3 years of experience in fund administration, medical underwriting, or similar roles in the insurance industry with proven experience managing large-scale funds, claims, and stakeholder relationships and familiarity with Third Party Administration (TPA) services, including claims processing, provider network management, and client onboarding.