Head of Cost Control
Jobs at:Jubilee Insurance
Deadline of this Job:
22 January 2023
Date Posted: Monday, January 16, 2023 , Base Salary: Not Disclosed
Job Ref. No. JHL010
The overall purpose of the job is to establish reliable financial reporting systems within the Group that will aid in monitoring the progress of the organization’s objectives and provide stakeholders with relevant financial data required for strategic decision making. The role holder will also be responsible for ensuring that the company’s costs are controlled within the allocated budgets as well as roll out strategic initiatives that will deliver considerable cost containment across the Group. Lastly, he/she will work closely with the various entity finance teams to develop and implement cost control policies and procedures and will be responsible for preparing cost reports and analyzing cost variances.
• Monitoring and updating cost estimates for projects to ensure that costs are within expected ranges and budgets.
• Conducting cost analyses to identify areas where costs can be reduced or eliminated altogether and monitoring budgets to ensure that spending does not exceed approved levels.
• Reviewing expense reports to ensure that expenses are reasonable and appropriate for the business circumstances.
• Ensure timely and accurate development and submission of all reports being submitted to senior executives, stakeholders, and board members.
• Manage the collection and analysis of business unit financial and operational data, including key performance metrics, to provide business insights to the business
Budgeting and Forecasting
• Manage the consolidation and reporting of the Group annual budgets and forecasts.
• Assist with developing reports on the allocated budgets to ensure compliance and highlight possible issues.
• Provide relevant function heads with reports to support the planning process in regard to budgeting, strategic plans and periodic forecasts for their respective departments.
• Coordinate internal functions for data collation on expenditure on capital projects and ensure timely preparation and reporting of project expense reports / forecasts.
• Consult with managers and assist with the preparation of annual budgets whilst ensuring alignment to Jubilee Group objectives.
• Consolidation and Management Reporting
• Oversee the consolidation of timely and complete reports from all functions across the organization.
• Coordinate the preparation of the corporate annual reports.
• Provide reports to business units with related reports, analysis, and tracking against agreed KPIs.
• Ensure all financial reports and data are examined closely to check for discrepancies when consolidating reports for relevant management functions.
• Support management in presenting reports to senior executives, stakeholders, and board members
• Bachelor's degree in Finance, Business Administration or Accounting Degree
• Master’s degree in Business, Finance, Accounting (required)
• Accounting Designation in CPA, CMA or ACCA (required)
• Superior mastery of excel and reporting dashboards is key
• Minimum of 7 years’ experience
• Good technical knowledge of the Insurance industry
• Highly innovative, performance and results driven coupled with good business acumen.
• A consummate professional with demonstrated ability to develop and execute strategies for sustainable, continuous improvement in performance, market share and profitability
• An individual with strong leadership qualities, a track record of innovation and the ability to manage change
• Experience with financial & accounting software
• Experience in OFA and BI platforms
• Professional financial analysis experience
• Profit & Loss Forecasting, model development
• Reporting and Analytics
• Negotiation skills, with the ability to influence other
• Conceptual thinking skills – process-orientation, innovative thinking regarding established methods
• Organization - Highly organized: used to working to tight deadlines and
• Thorough knowledge of accounting standards (IFRS)
Work Hours: 8
Experience in Months: 84
Level of Education: Bachelor Degree
Job application procedure
If you are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com quoting the Job Reference Number and Position by 22nd January 2023.
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