Old Mutual – Reporting Accountant.

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Job Description

– Reinsurance Accounting
– Statutory & Regulatory returns filing & compliance monitoring for Life business
– Investment income accounting
– Month end closure signoff
– Balance sheet substantiation


Reinsurance accounting (liaison with the underwriting & Money In Money Out teams and all reinsurers to ensure reinsurance numbers are fully reconciled).

  • Ensure all reinsurance transactions as booked in the line of business systems are fully integrated and recorded in the general ledger correctly.
  • Liaise with the underwriters (corporate business) and MIMO team (retail business) to ensure that submissions of quarterly accounts are done to the reinsurers on a timely basis.
  • Ensure payments to reinsurers are done on a timely basis once the numbers have been reconciled.
  • Ensure that annual profit commission statements are prepared, and any estimated amount booked in the general ledger awaiting final confirmation from the reinsurers.
  • Monitor and track collection of all cash calls as initiated by the underwriting/ claims’ teams.
  • Ensure compliance with the reinsurance credit control policy.
  • Ensure that reinsurers’ receivable & payable accounts are well maintained and reconciled.

Investment income posting on a weekly basis plus monthly reconciliation of the investment related accounts. Reconciliations of investments portfolios against the asset manager’s numbers and those maintained by the custodians. Monthly confirmation of investments held under lien by CBK & IRA to ensure statutory compliance for the Life business. Timely filing of regulatory returns (monthly, quarterly, and annually). Submission of relevant forms and data to IRA for the annual licensing (Corporate profile return) Facilitate applications of new managers & directors’ approvals by IRA by uploading data on the IRA portal. Supporting the internal & external audits and ensuring that items identified in the audit process are addressed within the advisable timelines.   Assist in system testing (current retail policy administration system for issues logged with the service provider and any other system which might be implemented in future e.g. group life system. Any other tasks as may be assigned by management.


– Analytical, problem solving and organizational skills

  • Financial analysis and reporting skills

– Delivering results and meeting strict deadlines

– Good communication skills both verbal and written.

– Detail-oriented skills. i.e. attention to detail.

  • Proficiency in computerized accounting applications such as Thought Express, Microsoft Dynamic AX systems and Microsoft office software (word, excel, Outlook, PowerPoint)


– Accountancy qualification professional or equivalent academic qualification.

– Basic understanding of the insurance industry e.g. provisions of the insurance act of Kenya.

– Computer literacy.

– At least 1 – 3 years relevant experience.


– Minimum of a bachelor’s degree qualification in Accounting, Economics or another related field.

– Qualified accountant or have commenced the professional exams.


Bachelor Commerce: Accounting (Required), Bachelor of Commerce (BCom): Finance, Economics (Required)


Closing Date

01 October 2021




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