Job Openings at Britam

Job purpose

Reporting to the CFO, the purpose of this role is to direct and oversee all of the financial reporting, budgeting and compliance activities of Britam Life Assurance. This includes the preparation of financial reports, budgets and forecasts for future business growth. The role will also be responsible for ensuring compliance with Company and International Financial Reporting Standards (IFRSs) as well as regulatory requirements.

Key Responsibilities

• Manage monthly and annual financial closing processes and ensure accurate, timely closure and reporting.
• Review monthly, quarterly and annual financial statements in compliance with IFRSs.
• Prepare monthly performance management report for EXCO.
• Prepare quarterly performance management report for board committees (Audit, Risk & Compliance, Investments & Strategy) and main board meetings .
• Manage the preparation of the company’s annual budget and report on variances from budget and reasons for those variances.
• Assist business leaders with the development of the department strategy, driving accountability and alignment with overall company priorities.
• Review monthly, quarterly and annual returns to the IRA and ensure timely filing and compliance with the Kenyan Insurance Act and Regulations.
• Coordinate the company’s annual audit with the independent auditors and coordinate the provision of all required schedules and supporting documents.
• Develop and maintain the integrity of the financial reporting process and financial controls.
• Maintain and strengthen internal controls over financial reporting.
• Research and resolve accounting issues including evaluation and implementation of new accounting and auditing standards and pronouncements to ensure IFRS and IAS compliance.
• Prepare adhoc reports as may be required from time to time.
• Delegated authority: As per the approved Delegation of Authority (DoA) matrix.
• Ensuring regulatory compliance with respect to the compliance schedule i.e. for KRA, IRA, UFAA among other regulatory bodies.
• Provide training, coaching and guidance to the rest of the finance team to facilitate technical growth in the area of financial reporting, compliance and budgeting.

Working Relationships

Internal Relationships

• Accountable to the CFO, Britam Life Assurance
• Responsible for staff working under this position
• Required to liaise and work closely with the other departments as may be necessary.

External Relationships

• Britam customers.
• Insurance sector players

Knowledge, Experience And Qualifications Required

• Professional qualifications – CPA/ACCA Finalist. Must be a Member of Institute of Certified Public Accountants of Kenya (ICPAK) or equivalent
• Bachelor degree in Actuarial Science / Finance / Accounting / Economics. An MBA will be an added advantage.
• A minimum of 5 years’ relevant experience in Finance or audit/actuarial consultancy with at least 2 years in a management role.
• Thorough understanding of International Financial Reporting Standards (IFRS).
• Practical knowledge of the Kenyan Insurance Act and Regulations.
• Sound knowledge and well developed Information Communication Technology (ICT) skills with hands on experience with computerized accounting applications such as ERP systems and Microsoft Office software (Word, Excel, PowerPoint etc.)
• 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 others at all levels into practical and beneficial use; strong interpersonal skills demonstrated by the ability to lead and gain assistance and cooperation from others in a team endeavour.
• Possess an innovative mind, a positive attitude and motivation to acquire new knowledge.
• Ability to analyse financial data and prepare financial reports, statements, and projections.
• Excellent team leadership skills, communication, organization and presentation skills.

Essential Competencies

• Deciding and Initiating Action - Ensures key departmental objectives are met, takes responsibility for decisions, actions, projects and people while focusing on achievement of departmental results; takes initiative and works under own direction; initiates and generates activity; makes quick, clear decisions with limited information available which may include tough choices or considered risks; decisions and actions take into account possible impact on all parts of the business.
• Leading and Supervising - Provides the department with a clear direction based on the overall strategic intent of the organization; Building high expectations about the success of the department; motivates and empowers others with a clear sense of purpose; creates a positive departmental climate that fosters learning and development; acknowledges high potential talent; Recognize the potential of individuals sets and articulates the vision and values through own personal behaviour; Push autonomy and empowerment downwards through the department.
• Formulating Strategies and Concepts - Works strategically to realise organizational goals within the department; sets and develops departmental strategies; identifies and develops positive and compelling visions of the department's future potential; Ensure departmental Balanced Score Card objectives and KPI’s are met and Exceeded; Ensure Personal Scorecard Objectives are met and exceeded; takes account of a wide range of issues across, and related to, the organization; Work with direct reports to ensure the cascading of the strategic plan into integrated departmental plans that are meaningful to individuals; encourages others to take a strategic and long-term view in terms of the department's future; Emphasize the impact and importance of individual contributions to the successful implementation of the organizational strategy in the department; Evaluate my own and others’ performance fairly and objectively; communicates the organizational strategy, vision and objectives effectively across all levels in the department.
• Analyzing - Strategically analyses sources of information, breaking them into component parts, patterns and relationships; makes rational judgments from the available information and analysis; demonstrates an understanding of how one issue may be part of a much larger system.
• Cost Management- Demonstrates an awareness of financial issues affecting my department; Use financial information to monitor departmental performance and guide decisions; Consistently identify opportunities to reduce costs within my department.

go to method of application »

The role holder would assist in processing and payment of general insurance claims.

Key Responsibilities

• Review documents and pertinent requirements regarding an insurance claim.
• Ensure that the insurance claim made by the claimant is complete in form and complies with the documentary requirements of an insurance claim for non-motor.
• Advice claimants regarding basic matters about their insurance coverage in relation to the insurance claim.
• Respond to both internal and external claims inquiries concerning benefits, claims process, service providers, and the filing/completion of proper forms
• Record all claims transactions including appointment of Loss Adjusters, investigators and surveyors
• Prepare claims registers for claims meetings and update the various claims reports
• Prepare initial claim letter and mail to insured, along with appropriate forms for completion
• Track and follow up on receipt of necessary forms
• Process payments to insured’s and service providers.

• Bachelors of degree or commerce (insurance option preferred)
• Progress in professional qualification in Insurance (ACII, FLMI or AIIK)
• 2-3 years’ experience in insurance claims processing
• Knowledge and experience in the insurance sector
  
  

Emerging Leaders Competency Descriptions.

• Presenting and Communicating Information - Speaks fluently; expresses opinions, information and key points of an argument clearly; presents effectively; responds quickly to others ‘reactions and feedback during conversations; projects credibility.
• Working with People - Shows respect for the views and contributions of team members; shows empathy; listens, supports and cares for others; consults others and pro-actively shares information and expertise with them; builds team spirit and reconciles conflict; adapts to the team and fits in well.
• Adhering to Principles and Values - Upholds and encourages ethical behavior and departmental values; demonstrates integrity; encourages individual responsibility towards the community and the environment; models the organizational values during every day interactions.
• Analyzing - Analyses numerical data and all other sources of information, breaking them into component parts, patterns and relationships; probes for further information or greater understanding of a problem; makes rational judgments from the available information and analysis; demonstrates an understanding of how one issue may be part of a much larger system / process / problem.
• Planning and Organizing - Adheres to and monitors clearly defined objectives; plans activities and projects well in advance and takes account of possible changing circumstances; identifies and organizes resources needed to accomplish tasks; manages time effectively; monitors performance against deadlines and milestones.
• Delivering Results and Meeting Customer Expectations - Focuses on customer needs and satisfaction; sets and models high standards for quality and quantity; monitors and maintains quality and productivity; works in a systematic methodical and orderly way; consistently achieves projects goals.
• Deciding and Initiating Action - Takes responsibility for own, as well as subordinates’ actions and projects; takes initiative and works under own direction; initiates and generates activity; introduces improvements into work processes; handles problems with minimal guidance.
• Leading and Supervising - Provides subordinates with a clear direction; motivates and empowers others; provides subordinates with the relevant coaching; creates a positive climate that fosters learning and development; identifies high potential talent; sets and articulates the departmental vision and values through own personal behavior; sets appropriate standards of behavior.
• Formulating Strategies and Concepts - Works strategically to realize personal goals; understands and effectively communicates the departmental strategy; translates the departmental strategy and vision into operational responsibilities; takes into consideration departmental strategy during all tasks; takes account of a wide range of issues across, and related to current role.
• Applying Expertise and Technology - Applies specialist and detailed technical expertise; uses technology to achieve work objectives; develops job knowledge and expertise (theoretical and practical) through continual professional development; demonstrates an understanding of different organizational departments and functions.
• Following Instructions and Procedures - Challenges authority only when appropriate; follows procedures and policies; keeps to schedules; arrives punctually for work and meetings; demonstrates a commitment to the organization; complies with legal obligations and safety requirements of the role.
• Adapting and Responding to change - Adapts to changing circumstances; tolerates ambiguity; accepts new ideas and change initiatives; adapts interpersonal style to suit different people or situations; shows an interest in new experiences.

go to method of application »

Overseeing the activities relating to general insurance claims settlement as well as ensuring effective and efficient processing and settlement of general insurance claims so as to meet customer and company corporate objectives.

Key Responsibilities

• Co-ordinate and maintain expeditious and efficient processing of general insurance claims and ensure customer needs are attended to promptly
• Analyse general insurance claims data to identify issues, and ensure that all relevant issues relating to underwriting policies and product pricing are identified and communicated to relevant stakeholders
• Provide reserve recommendations to ensure that reserve activities are consistent with corporate policies
• Implement standards (benchmarks) for measuring the performance of strategic customer relationship and communication
• Ensure that all claims fall within scope of respective general insurance policy
• Preparation of weekly general insurance claims statistics
• Identify, appoint and maintain an efficient and effective list of service providers
• Preparation of periodical general insurance claims reports and other management reports relating to claims.
• Monitor and review departmental performance
• Supervise, appraise, train and develop of staff in the department
• Delegated Authority: As per the approved Delegated Authority Matrix
• Bachelors of Commerce degree (insurance option preferred)
• Professional qualification in Insurance (ACII, FLMI or IIK)
• At least 7 - 10 years’ experience in insurance claims management 3-4 of which must be in a management level
• Knowledge and experience in the insurance sector

Leaders of Teams Competency Descriptions

• Deciding and Initiating Action - Ensures key departmental objectives are met, takes responsibility for decisions, actions, projects and people while focusing on achievement of departmental results; takes initiative and works under own direction; initiates and generates activity; makes quick, clear decisions with limited information available which may include tough choices or considered risks; decisions and actions take into account possible impact on all parts of the business.
• Leading and Supervising - Provides the department with a clear direction based on the overall strategic intent of the organisation; Building high expectations about the success of the department; motivates and empowers others with a clear sense of purpose; creates a positive departmental climate that fosters learning and development; acknowledges high potential talent; Recognize the potential of individuals sets and articulates the vision and values through own personal behaviour; Push autonomy and empowerment downwards through the department.
• Persuading and Influencing - Gains clear agreement and commitment from others by persuading, convincing and negotiating to the benefit of the department; promotes the organisational strategy during departmental conversations; makes effective use of political processes to influence and persuade others; promotes ideas on behalf of the department and the organisation; makes a strong personal impact on others; takes care to manage the department’s impression and brand on others.
• Formulating Strategies and Concepts - Works strategically to realise organisational goals within the department; sets and develops departmental strategies; identifies and develops positive and compelling visions of the department's future potential; Ensure departmental Balanced Scorecard objectives and KPIs are met and Exceeded; Ensure Personal Scorecard Objectives are met and exceeded; takes account of a wide range of issues across, and related to, the organisation; Work with direct reports to ensure the cascading of the strategic plan into integrated departmental plans that are meaningful to individuals; encourages others to take a strategic and long-term view in terms of the department's future; Emphasise the impact and importance of individual contributions to the successful implementation of the organizational strategy in the department; Evaluate my own and others’ performance fairly and objectively; communicates the organisational strategy, vision and objectives effectively across all levels in the department.
• Entrepreneurial and Commercial Thinking - Keeps up to date with competitor information and market trends; identifies business opportunities for the department; maintains awareness of developments, changes, Add value to the department by capitalising on new business opportunities; trends and possible risks in the department's structure and politics; demonstrates financial awareness; Identify ways to increase the Britam competitive advantage, exploiting those that will bring the greatest return within an acceptable level of risk; ensures costs are monitored and controlled and thinks in terms of profit, loss and added value; Ensure that sufficient data about financial and other parameters of departmental performance are available; Interpret departmental information objectively against appropriate benchmarks.
• Planning and Organising - Sets clearly defined departmental objectives; plans activities and projects well in advance and takes account of possible changing organisational and market circumstances; identifies and organises resources needed to accomplish projects; manages time effectively; monitors departmental performance against deadlines and milestones.
• Relating and Networking - Easily establishes, as well as assists others in building meaningful relationships with customers and staff across all levels of the organisation, inside and outside of the department; relates well to people at all levels; facilitates the resolutions of conflict and manages disagreements with tact and diplomacy.
• Creating and Innovating - Promotes departmental improvement within relevant scope of influence; produces and encourages new ideas, approaches, or insights; creates the environment for innovative products or designs; produces a range of solutions to the strategic benefit of the department.
• Adhering to Principles and Values - Upholds and encourages ethical behaviour and organisational values; demonstrates integrity; promotes and defends equal opportunities, builds diverse teams; encourages departmental and individual responsibility towards the community and the environment; models the organisational values during every day interactions.
• Achieving Personal Work Goals and Objectives- Accepts and tackles demanding departmental and personal goals with enthusiasm; leads by example by working hard and putting in longer hours in order to ensure successful implementation and completion of projects; show self-insight in own development needs.
• Adapting and Responding to change - Anticipates and effectively adapts to changing circumstances and ambiguous situations; accepts and actively drives new ideas and change initiatives; adapts interpersonal style to suit different individuals or situations; Monitor changes in departmental issues, structures and dynamics and appreciate their implications for the business; Demonstrate an understanding of the links between the Britam’s structure, goals and capabilities; Constantly aware of competitors, trends and changes in the markets that the Britam works within; Maintains a focus on key priorities and deliverables, staying resilient in the face of pressure; Implement changes within my department to achieve set change goals; Responds flexibly to changing circumstances; Recognises when unable to cope and asks others for help; Uses change as an opportunity to improve ways of working, encouraging others’ buy-in; Takes ownership for communicating change initiatives clearly, ensuring smooth implementation
• Analysing - Strategically analyses sources of information, breaking them into component parts, patterns and relationships; makes rational judgements from the available information and analysis; demonstrates an understanding of how one issue may be part of a much larger system.
• Cost Management- Demonstrates an awareness of financial issues affecting my department; Use financial information to monitor departmental performance and guide decisions; Consistently identify opportunities to reduce costs within my department.
• Staff development- Create a positive departmental climate that fosters learning and development ; Identify development needs within my department; Ensure direct reports have personal development plans in place that are regularly reviewed; Provide honest and constructive feedback on my team's performance; Act as coach or mentor when appropriate; Allocate power, responsibilities and authority to appropriate subordinates.