Job Title: Senior Accountant – Reporting UIC Uganda
Organisation: UAP Old Mutual Insurance
Duty Station: Kampala, Uganda
About the Company:
The UAP Old Mutual Group is an integrated Financial Service business comprising Faulu Microfinance Bank, UAP and Old Mutual. The Group, which is operational in East Africa services to more than 1.2 million customers across Kenya, Uganda, Tanzania, Rwanda and South Sudan. The UAP Old Mutual Group now comprises of three key players as a result of the acquisition of a controlling stake in Faulu in 2014 and UAP in 2015 by Old Mutual. The acquisitions resulted in Old Mutual Kenya UAP Holdings and Faulu Microfinance Bank, forming one of the largest financial services groups with a growing footprint in East and Central Africa. UAP and Old Mutual have been major players in the financial services market in East Africa for decades. The two entities have vast experience in Insurance, Investment, Asset Management and Banking, and are passionate about helping our customers achieve their financial goals.
Key Duties and Responsibilities:
- To design and manage controls and procedures for effective management of the Company’s financial and other resources and ensure timely and accurate reporting.
- Prepare Monthly Management Accounts for Local, group, regulatory and board reporting in accordance with IFRS
- Reconciliation and substantiation of balance sheet schedules on a monthly basis with the General ledger and sub-ledger
- Reinsurance reconciliation (claim recoveries, MDP recons and adjustments) together with the reinsurance officer.
- Rental Income review and reconciliation for all the properties (Kimathi, Nakawa House and NBP)
- Maintain a register of monthly Accruals, prepayments and provisions
- Quarterly/Annual Risk Based returns preparation to IRA
- Ensure that controls around general ledger, financial reporting are adhered to in accordance with our internal controls policies
- Train and mentor junior team members on financial and management reporting.
- Develop and implement robust accounting systems that are embedded with appropriate controls that help to safeguard the company’s assets and ensure accurate and timely reporting.
- Liaises with external auditors on audit activities of the company.
- To prepare monthly variance analysis for all departments, branches in line with budgetary provisions.
- Preparation of monthly Opscom reports for both Local Management and Group
- Preparation of the management accounts on monthly basis (GI, Health and Properties)
- Reconciliation and maintenance of the rental income schedules (earned and unearned rental income)
- To prepare the management and board summaries on monthly basis
- Prepare and manage the reinsurance function for Medical Business and General Insurance
- System Reconciliations for all the core systems integrating into the financial reporting tool D365
- Maintain an updated company fixed assets register. (Additions/disposals/movements and Depreciation)
- Maintain, reconcile and collect related party balances. Monthly Certificate sign off by Subsidiary.
- To follow up on all the necessary returns with the various Regulators’ are adhered to.
Qualifications, Skills and Experience:
- Bachelor’s degree in accounting, Finance, or a business-related field;
- Professional accounting qualification (CPA, ACCA, or equivalent) is essential.
- A minimum of four years of experience in financial reporting, with at least two years in the insurance industry with a good understanding of insurance accounting practices.
- Strong knowledge of International Financial Reporting Standards (IFRS), including IFRS 17, and general insurance accounting practices
- Advanced Microsoft Excel skills for financial modeling, analysis, and reporting.
- Strong work ethic and professional conduct, with high standards of integrity and accountability in handling financial data
- Excellent analytical skills, attention to detail, and ability to work under pressure to meet deadlines
Skills
- Board Reports, Business, Design, Financial Reporting and Analysis, General Insurance, General Ledger (GL), Internal Controls, Management Accounting, Management Reporting, Reconciliations, Reinsurance, Reporting Tools, Subsidiary Ledgers, Timely Reporting
Competencies
- Builds Networks
- Business Insight
- Collaborates
- Communicates Effectively
- Customer Focus
- Directs Work
- Ensures Accountability
- Interpersonal Savvy
Education
- Bachelors Degree (B): Accounting (Required), Bachelors Degree (B): Finance (Required)
How to Apply:
All candidates should apply online at the link below
Deadline: 30th April 2025 by 23:59
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