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Job Title:  Head, Accounts

Organisation: NIC Holdings Ltd

Duty Station:  Kampala, Uganda

Reports to:  Chief Finance Officer

About US:

NIC Holdings is one of the largest financial institutions in East Africa with a network of branches spread across the country, offering a full range of insurance products and services in Life and Non-Life insurance businesses and Financial Management. NIC Holdings has two subsidiaries which include NIC General Insurance Company Limited and NIC Life Assurance Company Limited.

Job Summary:  The Head, Accounts will oversee Budgeting and Financial Reporting Functions of the company

Key Duties and Responsibilities: 

• Review and approve daily accounting transactions such as journal vouchers and payment voucher to ensure proper accounting treatment of all transactions.
• Review and approve monthly reconciliation of bank accounts, premium receivables, branches premium receivables, rent receivables, staff receivables, etc and ensure all identified discrepancies are cleared promptly.
• Ensure timely preparation of monthly, quarterly and other ad-hoc management accounts and reports.
• Prepare draft annual financial statements in compliance with relevant IFRS and coordinate interim and final audit exercise.
• Ensure completeness and accuracy of supporting schedules to the draft financial statements.
• Prepare management report on performance and financial position of the company for quarterly Board meeting.
• Ensure timely preparation of regulatory, tax and NSSF returns and review the same to ensure compliance with Insurance Act, Income Tax Act and NSSF Act.
• Develop and propose changes to accounting and credit procedures and policies.
• Ensure timely preparation of the company’s annual budget for management review and Board approval in liaison with Head of departments in line with budget cycle and financial guidelines.
• Monitor and report on budget against actual performance in term of revenue and expenditure projections.
• Set collection target for the credit control unit, monitor and report on performance accordingly.
• Ensure proper records of premium installment payment plans are kept and followed up for prompt collection of premium due.
• Ensure preparation of Premium Debtor’s Age Analysis on a monthly basis in line with guiding policies and procedures.
• Review annual provision for Bad Debts in line with company’s credit policy and make recommendation for write-offs.
• Ensure periodic reconciliation of brokers’ accounts and ensure their accuracy.
• Train, mentor and carryout staff performance appraisal of management accounts unit and credit control unit.
• Undertake other assigned tasks.

Qualifications, Skills and Experience:

• The ideal candidate must hold a Bachelors’ degree in accounts, commerce, economics or business management/administration.
• Masters’ degree in accounts, finance or related discipline would be an added advantage.
• Certified Public Accountant or ACCA with at least 5 years post professional qualification experience.
• At least five years’ experience in Accounts and finance at a managerial level
• Strong hands-on experience in preparing IFRS financial statements.
• Deep understanding of insurance laws and regulations as well as verifiable experience in preparing regulatory returns.
• Exceptional knowledge of ALL Uganda Tax Legislations and practical experience in handling tax filings and returns.
• Cross-functional leadership Skills; with ability to motivate, inspire and delegate
• Time management
• Adaptability
• Negotiation skills.
• Inter-personal relationship skills
• Good communication skills; both verbal and written
• Computer skills in Ms. Word, Ms. Excel, Ms Powerpoint and Accounting software

How to Apply:

All candidates should send through their CVs electronically by email to vacancy@nic.co.ug

Deadline:  21^st November 2021

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