Assistant Manager - Finance at Kenya Orient Insurance Limited in Nairobi, Kenya

    Kenya Orient Insurance Limited logo

    Assistant Manager - Finance

    Posted

    4 days ago

    Apply by

    27 Aug

    Full Time
    On Site
    Managerial
    Banking, Insurance & Financial Services
    Accounting, Auditing & Finance

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    Job Description

    Reporting to the Chief Finance Officer, the Assistant Manager – Finance is responsible for overseeing and managing the company's financial operations, treasury and liquidity, financial accounting and reporting, taxation and statutory compliance while maintaining a strong internal control and revenue assurance environment. The role delivers accurate, timely financial information, management and Board reporting, and branch performance insight to support effective decision-making, planning and control, and provides day-to-day leadership to the finance team.

    Key Responsibilities

    • Monitor the company's daily cash position, creditor accounts, payments and surplus funds to ensure optimal liquidity and a positive cash flow at all times.
    • Prepare and review daily cash flow reports that give management timely visibility of the liquidity position to support informed financial decision-making.
    • Manage cash inflows and outflows, revenue assurance, recoveries and reserves to sustain financial stability.
    • Review treasury transactions journals, interest computations, accruals, deposits and investment transactions ensuring accurate recording and reconciliation.
    • Support the development of asset–liability strategies and the investment portfolio, including deposit placements, bond investments, trade confirmations and settlements.
    • Review and authorise petty cash and imprest, reconcile staff imprest accounts, and ensure supplier payments are settled by their due dates.
    • Ensure accurate and timely preparation of financial statements, management accounts and Board papers in compliance with IFRS, internal policies and regulatory requirements.
    • Own the end-to-end bank reconciliation process, ensuring no open items age beyond 30 days, and drive the timely resolution of un-receipted credits with the credit, underwriting and branch teams.
    • Conduct periodic review and analysis of the trial balance and general ledger accounts, and pass all required periodic journals, accruals and prepayments.
    • Act as a key liaison with statutory and regulatory authorities, ensuring accurate preparation and filing of returns including IRA returns, withholding taxes and levies within stipulated timelines.
    • Review quarterly reinsurance accounts with the reinsurance department, advise on claims above deductible, and participate in the annual treaty renewal process.
    • Consolidate group financial statements and prepare branch and business performance reports.
    • Develop and maintain effective financial management systems, policies, procedures and internal controls that safeguard company resources and mitigate financial risk.
    • Monitor capital adequacy ratio CAR, performance ratios and other key financial indicators, reporting positions and recommendations to management.
    • Lead the annual external audit process to conclusion, coordinate internal audit and regulatory inspections, and ensure effective closure of all recommendations.
    • Ensure timely, accurate recording of financial transactions and full compliance with accounting standards.

    Required Qualifications

    • A Bachelor's degree in Commerce, Finance, Accounting or an equivalent qualification from a recognised university.
    • CPA K or an equivalent professional qualification, and registered membership of a recognised accounting professional body.
    • Minimum of seven (7) years' relevant finance experience, with at least three (3) years at Supervisory Role.
    • Strong working knowledge of IFRS, insurance industry regulation and IRA reporting requirements.
    • Demonstrable experience in treasury and cash management, financial reporting, taxation and audit coordination.
    • Hands-on experience with an insurance/ERP accounting system and advanced Microsoft Excel skills.

    Job Details

    Job Function

    Accounting, Auditing & Finance

    Minimum Experience

    7 years

    Education Level

    Bachelor’s Degree

    Area of Study

    Commerce

    Field of Study

    Finance

    Languages

    English

    Additional Information

    How to Apply: Interested and qualified candidates should apply online via the application link provided on this page.

    Show Treasury Discipline and IFRS Command in Your Application

    This role sits at the nerve center of an insurer's finances — the hiring panel will be looking for someone who can juggle daily cash positions, statutory filings, and audit coordination without dropping a ball. Your application needs to prove you've done this before, not just that you know the theory.

    1. Lead with your treasury wins: On your CV, put a short 'Treasury & Cash Management' section right under your name. Quantify how you improved liquidity, reduced bank charges, or sped up reconciliation cycles in past roles. For example, 'Cut average bank reconciliation age from 45 days to 20 days within six months.'

    2. Prove your IFRS fluency: Expect to be probed on IFRS 9 and IFRS 17 — the standards that hit insurers hardest. Mention specific projects where you applied them, like 'Implemented IFRS 17 data collection templates for the 2024 annual report.' If you haven't done that, show you've studied them and can speak to the key changes.

    3. Show you know IRA reporting inside out: The posting stresses IRA returns and levies. List the exact returns you've filed (e.g., IRA quarterly returns, withholding tax schedules) and the deadlines you met. If you've never filed IRA returns, say so honestly and explain how your tax experience transfers.

    4. Highlight your ERP and Excel muscle: They want hands-on ERP experience and advanced Excel. Name the systems you've used (SAP, Oracle, Odoo, etc.) and give a concrete Excel example: 'Built a daily cash flow dashboard using Power Query and pivot tables that saved two hours of manual work each morning.'

    5. Prepare for the supervisory question: With three years at supervisory level required, be ready to talk about how you've led a team. Have a story about a time you resolved a conflict, coached a junior, or took responsibility for a team mistake. Show you can lead without being a pushover.

    6. Understand the insurance context: This isn't a generic finance job — it's insurance finance. Brush up on reinsurance, claims above deductible, and capital adequacy ratios (CAR). Mention any exposure you've had to these areas, even if it was in a different industry.

    7. Get your audit coordination story straight: You'll be leading external audits to conclusion. Prepare a narrative about a past audit: how you prepared the team, managed the auditors' requests, and ensured clean findings. If you've ever turned around a qualified opinion, that's gold.

    8. Tailor your cover letter to the 'why': In your cover letter, connect your experience to the company's mission. Say something like, 'I'm drawn to Kenya Orient because of its reputation for financial stability, and I want to bring my treasury discipline to help safeguard that.' Avoid generic phrases.

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    Tags

    IFRS
    treasury
    financial reporting
    insurance
    CPA