Job Purpose:

The job holder will be responsible for financial controls i.e. for receipting, account payables bank, inter-company, and general ledger reconciliation and compliance.

Key Responsibilities:

• Verifying and loading payment files received from various departments, advising for payment.
• Processing payments.
• Capturing manual invoices requested for payment by the operations team.
• Running, verifying, and validating reimbursement reports to facilitate payment.
• Ensuring timely processing and approval of payments.
• Updating and circulating various payment reports to stakeholders.
• Updating bank statements in the shared folders.
• Perform manual and automated bank reconciliations.
• Review online bank statements and perform daily auto reconciliation for the payment accounts.
• Perform inter-company reconciliations with another business unit on a timely basis to facilitate closure of the ledger within the stipulated timelines and follow up for payments.
• Posting of adjustment journals.
• Posting of premiums and other end-month journals.
• Capturing and reconciliation of monthly debits credit notes and related transactions.
• Reconciliation of balance sheet, profit, and loss ledger accounts.
• Posting adjustments identified during the reconciliation process.
• Sharing reconciliations with the various stakeholders within the company for further action and/or decision-making.
• Responding and resolving queries from both external and internal customers on a timely basis.
• Ensure the company complies with its regulatory requirements (including IRA, UFAA, KRA and any other regulators).
• Receipting and reconciling receipted funds to the customers’ policies.
• Daily banking of receipted cheques.
• Circulation of regular receipting and exception reports.
• Assist in the preparation of required schedules and information for internal and external audits.
• Preparation of daily, monthly, annual, and other ad hoc reports as required.
• Support the assigned operations team in compliance with the reconciliation policy.
• Review of bank and ledger reconciliations for the operations team.
• Reconciliation of Fixed Assets in liaison with Fixed Assets Associate.
• Delegated Authority: As per the approved Delegated Authority Matrix.

Knowledge, experience and qualifications required

• Bachelor of Commerce (Accounting) or its equivalent.
• At least 3-4 years experience in a similar position.
• Fully qualified CPA (K) or ACCA.

Technical/ Functional competencies:

• International Financial Reporting Standards (IFRS).
• Financial Accounting.
• Accounts Analysis and reconciliation.
• Analytical –highly analytical and ability to challenge status quo based on quantitative facts and impacts.
• Report writing – ability to develop quality and comprehensive reports.
• Knowledge of insurance company regulatory requirements.