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.
