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Job Summary

Reporting to the Manager II, Reporting, the Associate II, Reporting is responsible for all postings into the general ledger and supporting the preparation of periodic and annual financial statements. The role is also responsible for monthly departmental and branch reporting and analysis of company’s expenses per expense class, branch and department. The position is also responsible for the management of fixed assets, the review and approval of agent incentives and loans and contributes to the preparation of annual budgets.

ROLES AND RESPONSIBILITIES

Day-to-day operations and transaction processing

• Prepare and post journal entries into the General Ledger (GL) in accordance with the policies and procedures
• Process routine accounting entries generated by the policy administration system (ILMS) and the IFRS 17 calculation engine (Prophet).
• Execute day-to-day general ledger maintenance, ensuring proper dimensions set up and allocations.
• Assist the Reporting Manager in performing month-end and year-end financial closure, ensuring transaction cut-offs and postings adhere to agreed deadlines.
• Support payment approvals by reviewing posted payments, ensuring that all the payments are posted to the correct general ledger accounts and correcting all errors noted.
• Support the processing of tax obligations including the payment of VAT, corporate instalment tax, and any other tax obligations as may be required from time to time
• Responsible for all intercompany collections and ensuring that intercompany balances owed from related parties are collected in a timely basis.
• Responsible for reviewing and tracking of staff and FA loans and advances and ensuring prompt recovery as per the finance policy.

Fixed assets accounting and management

• Manage the full lifecycle of company fixed assets, including recording additions, disposals, transfers, and monthly depreciation runs in the Fixed Asset Register (FAR) and posting these into the General Ledger.
• Coordinate and execute physical asset tagging across all branches, facilities, and head office departments.
• Plan, conduct, and reconcile periodic physical fixed asset verifications, investigating and resolving discrepancies between physical counts and register balances.
• Prepare comprehensive fixed asset movement audit schedules for internal and external auditors.

Financial reporting & budgeting

• Assist the Reporting Manager in the production of monthly management accounts, analysing the reports ready for management presentation and analysis of the expenses per class per branch per month.
• Compile data required for budgetary planning, and assist the Reporting Manager in the preparation of the budget inputs and supporting budget variance reporting.
• Support the Reporting Manager in ensuring that subsidiary financial reports are prepared and translated into local currency in readiness for management presentation.

Other responsibilities

• Support the internal and external audit process.
• Evaluate and appraise loan applications submitted through the Agency channel, verifying borrower eligibility, documentation completeness, and adherence to established internal credit policies and risk thresholds prior to approval.
• Review and verify agency incentives and payments to ensure accuracy of such incentives and ensure that they reflect the achievement of agreed targets.
• Preparation of the annual financial statements for the ICEA LION Life Assurance Personal Retirement Scheme (PRS), ensuring that the reports are accurate, are in accordance with RBA guidelines.

ACADEMIC AND PROFESSIONAL QUALIFICATIONS AND KNOWLEDGE

• Bachelor of Commerce Accounting degree.
• CPA (K) or ACCA professional qualification.
• At least Five (5) years’ experience in a busy finance department, two (2) of which should be in a reporting role preferably in insurance or financial services.

CORE COMPETENCIES

• Ability to work under pressure and deliver timely results
• Strong team working skills
• An in-depth understanding of International Financial Reporting Standards. Experience with IFRS 17 standard will be an added advantage.
• Proficiency in financial systems, ERPs, and in the use of data analytics tools.
• Good communication skills
• Good customer relationship management skills (internal and external customers).
• Strong analytical ability.
• Attention to detail.
• Demonstrable problem-solving ability

• Prepare and post journal entries into the General Ledger (GL) in accordance with the policies and procedures
• Process routine accounting entries generated by the policy administration system (ILMS) and the IFRS 17 calculation engine (Prophet).
• Execute day-to-day general ledger maintenance, ensuring proper dimensions set up and allocations.
• Assist the Reporting Manager in performing month-end and year-end financial closure, ensuring transaction cut-offs and postings adhere to agreed deadlines.
• Support payment approvals by reviewing posted payments, ensuring that all the payments are posted to the correct general ledger accounts and correcting all errors noted.
• Support the processing of tax obligations including the payment of VAT, corporate instalment tax, and any other tax obligations as may be required from time to time
• Responsible for all intercompany collections and ensuring that intercompany balances owed from related parties are collected in a timely basis.
• Responsible for reviewing and tracking of staff and FA loans and advances and ensuring prompt recovery as per the finance policy.
• Manage the full lifecycle of company fixed assets, including recording additions, disposals, transfers, and monthly depreciation runs in the Fixed Asset Register (FAR) and posting these into the General Ledger.
• Coordinate and execute physical asset tagging across all branches, facilities, and head office departments.
• Plan, conduct, and reconcile periodic physical fixed asset verifications, investigating and resolving discrepancies between physical counts and register balances.
• Prepare comprehensive fixed asset movement audit schedules for internal and external auditors.
• Assist the Reporting Manager in the production of monthly management accounts, analysing the reports ready for management presentation and analysis of the expenses per class per branch per month.
• Compile data required for budgetary planning, and assist the Reporting Manager in the preparation of the budget inputs and supporting budget variance reporting.
• Support the Reporting Manager in ensuring that subsidiary financial reports are prepared and translated into local currency in readiness for management presentation.
• Support the internal and external audit process.
• Evaluate and appraise loan applications submitted through the Agency channel, verifying borrower eligibility, documentation completeness, and adherence to established internal credit policies and risk thresholds prior to approval.
• Review and verify agency incentives and payments to ensure accuracy of such incentives and ensure that they reflect the achievement of agreed targets.
• Preparation of the annual financial statements for the ICEA LION Life Assurance Personal Retirement Scheme (PRS), ensuring that the reports are accurate, are in accordance with RBA guidelines.

• Ability to work under pressure and deliver timely results
• Strong team working skills
• In-depth understanding of International Financial Reporting Standards
• Experience with IFRS 17
• Proficiency in financial systems, ERPs, and data analytics tools
• Good communication skills
• Good customer relationship management skills
• Strong analytical ability
• Attention to detail
• Demonstrable problem-solving ability

• Bachelor of Commerce Accounting degree
• CPA (K) or ACCA professional qualification
• At least five years’ experience in a busy finance department, including two years in a reporting role, preferably in insurance or financial services