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 [email protected]
Deadline: 21st November 2021
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