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Job Ref. No. HRJIC646
Position: Finance Manager
We currently have an exciting career opportunity for Finance Manager – Jubilee Life Insurance Limited. The position holder will report to the Chief Financial Officer and will be based at Head Office in Nairobi.
Role Purpose
Responsible for the oversight and development of financial reporting under IFRS17 for Jubilee Life Companies in the Group.
Main Responsibilities
1. IFRS17 transition and reporting
a) Technical implementation plan, budgeting, and project management.
b) Gap analysis, business & financial impact analysis.
c) IFRS17 methodology position papers: On options & recommendations under non-prescribed technical decisions e.g., Level of aggregation, contract boundaries, risk adjustment, investment components, reinsurance contracts approach etc.
d) Preparing papers for management & board approval for transition approach, budget, system requirements etc.
e) Disclosure preparation under IFRS17 reporting requirements
f) Develop controls and documentation around estimates and judgement in IFRS17 implementation for data & results
consistency, completeness, and accuracy.
g) Determination of transition method from full retrospective, modified retrospective and fair value approaches.
h) Model Jubilee financial statements under IFRS17 basis and comparatives to IFRS4.
2. System Set-Up
a) Guide on the setting up of the general ledger for the reporting on IFRS17 and OFA software
b) Take lead on training other members within the regional teams
c) Take lead on the mapping of accounts, development of accounting reports/disclosures, documentation, and communication
3. Projections and Budgeting
a) Ensure expenditure falls within the budget and set-up controls for all IFRS17 costs
4. Financial & Regulatory reporting
a) IFRS17 inputs to regulatory reports i.e., Quarterly returns to IRA and tax computations for KRA
b) Ensure support of stakeholders on all financial inputs and outputs (Actuarial, Finance, appointed actuary and
audit/assurance teams) on IFRS17 reporting within monthly, quarterly & end year reporting timelines
5. Profit testing
a) Work with the actuarial team on the profit-testing of the products under IFRS17 and give recommendations on optimal treatment of onerous contracts
b) Risk assessment, management, and reporting under IFRS17 reporting
6. Any other duties as maybe assigned from time to time
Key Competencies
1) Visionary Entrepreneurial Spirit
2) Customer Focus
3) Continuous Innovation
4) Ownership & Commitment
5) Team Spirit
Qualifications
1) Bachelor’s Degree in a Business-Related Field.
2) CPA-K/ACCA Qualification
Relevant Experience
Minimum of seven years relevant experience in the insurance industry, two of which must be a lead in financial reporting. Experience in the implementation of IFRS17 will also be an added advantage.
If you are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com quoting
the Job Reference Number and Position by 6 th August 2021.
Only shortlisted candidates will be contacted.
https://jubileeinsurance.com/ke/careers/
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