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It is existentially urgent to figure out a way to cover people who are not insured. Turaco’s mission is to free people from the fear of financial shocks. Our 25-year goal is to insure a billion people, doubling the number of people insured in the world.
Turaco is a fast-growing financial services start-up in Africa that is bringing a new model to health and risk financing for emerging customers. Turaco offers subscription-based insurance for the mass market bundled with regular transactions that people are already doing. Turaco works through business partnerships to offer affordable insurance products that add real value to people’s lives. At Turaco we value simplicity, communication, and transparency and strive to transform the way insurance works. When it comes to claims, our goal is to pay out and fast.
Turaco embraces diversity and inclusion in the workplace – we’re building a team where our differences complement each other and make us stronger. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic.
Since launching in Feb 2019, Turaco has acquired 100,000+ end users. Over the next 24 months, that will grow to 1,000,000+ end users. We are growing very fast, and we’re looking for team members who can grow with us.
To learn more, visit www.turaco.insure
Turaco is looking for a Finance Lead with top-notch accounting and finance experience who will be responsible for managing the finances of our business on a day-to-day basis. This role is pivotal in building, maintaining, and scaling transparent and accountable business systems so that Turaco can efficiently meet its business objectives. The Finance Lead will report to the Senior Finance Manager and will have external communication with Turaco’s business partners in Kenya. The Finance Lead should have a deep understanding of tax and statutory regulation in Kenya, an established relationship with KRA, and an ability to manage day-to-day financial transactions of revenue and expense tracking for the company.
We’re looking for someone who is hyper-analytical, detail-oriented, and can deliver high-quality work quickly. You must be comfortable and excited to work in a fast-paced start-up environment and ready to navigate challenges and ambiguity that may come your way.
Key Roles and Responsibilities
Accounting and finance
- Manage expenses including petty cash, wire transfers, payroll, expense classifications, claims payments, and general AP
- Ensure all payments are properly supported and duly authorized before disbursement
- Maintain and keep an up-to-date Fixed Asset Register
- Manage partner revenue calculations, generate invoices, manage AR, and VAT remittances
- Maintain appropriate company documentation and compliance with regulatory and tax-related requirements
- Maintain accounting software system and initiate periodic improvements
- Liaise with external tax and audit firm for creation of annual trial balance, tax filings, audits, and implementing audit recommendations
- Ensure tax and statutory deductions are properly computed and remitted before the due deadlines
- Support the Senior Finance Manager, in the consolidation of financial statements, budget vs. actual reporting, and other reports as required, providing commentary, and ensuring accurate and timely presentation to management
- Oversee all ledger and bank account reconciliations monthly
- Prepare monthly balance sheet schedules and ensure all balances are adequately supported
- Prepare monthly payroll journals with a keen understanding of income tax provisions in Kenya and ensure statutory deductions are submitted by the due dates
- Maintain an organized, well-documented, and sequential filing system in the Drive Folders
Implementation of Financial Policy and Planning Processes
- Help to prepare the annual budget plan for all aspects of Turaco’s operations so that it meets accounting compliance standards and the requirements of other key stakeholders
- Prepare accurate reports in line with Turaco’s reporting schedules
- Make recommendations to improve processes and minimize discrepancies
- Help to develop and implement policies and procedures to meet legislative requirements, and best practice approaches and provide ethical guidance for the finance and accounting processes of Turaco
- Work closely with the Senior Finance Manager to maintain an accurate cash flow forecast and ensure sufficient bank balances
- Support the selection and migration to a more robust ERP system
External Stakeholder Management
- Develop and maintain relationships with key business partners (including banks, auditors, actuaries, and regulatory bodies)
- Coordinate the provision of information to external auditors and regulatory bodies for annual and ad hoc audits
- Maintain and update records of invoices, revenue, and costings (both expense tracking and project-level expense classification)
- A stakeholder analysis of customer expenses and revenues
Key Qualifications and Your Profile
Turaco is seeking a candidate who has the following characteristics:
- Lives Turaco’s values – care and protect our customers, do the right thing for our customers, and have fun!
- Bachelor’s degree in a financial discipline
- ACCA or CPA(K) professional qualifications
- At least 4 to 5 years of Accounting and Finance experience in a busy environment
- Good understanding and application of IFRS
- Previous experience working in a start-up is an added advantage
- A builder, someone who has planned and helped build systems and controls
- Well-organized with a demonstrated ability to perform filing and record-keeping tasks
- High level of integrity and accountability
- Strong communication and organizational skills
- Leadership potential – desire and capacity to grow into leadership roles
- Strong analytical and problem-solving skills
- Ability to work well with a team
- Proficient in the English language – verbal and written communication and familiar with other regional languages
Total Compensation & Benefits
Turaco offers a competitive salary commensurate with experience. We combine that with a mix of useful employment benefits like stock option plans and healthcare and a company culture that allows you to enjoy your work while making meaningful connections.