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Job Title:  Senior Accountant

Organisation: CIC General Insurance Uganda Limited

Duty Station:  Kampala, Uganda

About the Company:

CIC General Insurance Uganda Limited is a subsidiary company of CIC Insurance Group from Nairobi, Kenya that is owned 75% by co-operatives and 25% by individual shareholders. CIC General Insurance (U) is a joint venture of CIC Kenya and the Co-operative movement in Uganda. The company is fully incorporated and licensed to transact General Insurance business. In addition to the General policies available for institutions, corporate, individual and all categories of entities, the Company serves all Co-operative Societies in Uganda along the Co-operative Model.

Job Summary:   The senior Accountant is responsible for the IFRS 17 reporting workflow ensuring data validation, quality and accuracy are maintained. The senior accountant is also responsible for the timely preparation and updating of the financial statements for adequate disclosures and changes based on the current regime of IFRS. The accountant is responsible for preparation of board and management reports as well as supporting the Finance Manager with regulatory reporting and monitoring of controls.

Key Duties and Responsibilities:

• Prepare monthly IFRS 17 reporting finance data and work with the actuarial team to validate and ensure accuracy.
• Prepare IFRS 17 compliant management and statutory financial reports.
• Prepare IFRS 17 compliance RBS returns.
• Review adequacy of operational and financial controls in the business (systems, processes and people) and recommend changes to the management;
• Review returns to the regulator and other statutory bodies on monthly, quarterly and yearly;
• Review the completeness of the asset register and confirm that it is in line with the company accounts;
• Confirm investment in company assets are within company investment policy statement as guided by the Insurance Act and advice the fund management monthly;
• Review management and financial reports for completeness and preparation of board papers on a monthly and quarterly basis respectively;
• Prepare and compile company budgets annually and analyse financial reports and report variance against budget on a monthly basis;
• Oversee Expenses management, containment and austerity measures to achieve cost savings of a minimum 10% and overall expense ratio of a maximum 40%.
• Approve payments and check that all accounting transactions are posted to the correct cost centres;
• Coordinate external and internal audits;
• Development, implementation and reviewing of credit management strategies in line with the overall corporate strategic objectives;
• Development and implementation of credit management policy;
• Convening credit control committee and implementation of the committee’s recommendation
• Setting cash target to ensure collection of outstanding premiums in line with policy provisions
• Present debtors report and bad debt provisions report to management.
• Manage cash flows, control costs and action on audit recommendations;
• Liaise with external stakeholders e.g. banks, URA, IRA towards enhancement of company operations.

Generic Duties

• Carry out performance appraisal, coaching and mentoring staff;
• Resource allocation, staffing and leave approval;
• Participate in planning and budgeting for the department;
• Participate in various meeting and committees and acting as spokesperson on behalf of the company.

Qualifications, Skills and Experience:

Academic Qualifications

• Bachelor’s degree in Finance, Accounting, Business or in a related field. A Master’s degree an added advantage

Professional Qualifications

• Professional qualifications such as CPA (U) is a MUST

Experience

• Minimum of Five (5) years’ relevant experience in a similar position, two (2) of which at supervisory level

Skills and Attributes

• Excellent communication and presentation skills
• Problem solving skills
• Excellent interpersonal skills
• Leadership skills
• Good analytical skills
• Computer literate in MS Office and other office applications
• Knowledge of Business Environment

How to Apply:

All candidates should send their applications and updated CVs via Email to:   eric.obila@ug.cicinsurancegroup.com or nathan.ainembabazi@ug.cicinsurancegroup.com

Deadline: 23rd August 2024

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