Job Purpose

The purpose of the job is to be responsible for making critical financial decisions by collecting, tracking, and correcting the company's finances. Responsible for financial audits, reconciling bank statements, and ensuring financial records are accurate throughout the year. Ensure that there is proper control over collections and all risk management actions are implemented.

Responsibilities

Preparing reports, budgets, commentaries, and financial statements
Controlling and forecasting income and expenditure
Financial analysis
Maintains historical records by filing documents.
Answer queries and solve disputed matters on time and professionally.
A good rapport must be developed and maintained with all other CIC staff.

Other responsibilities:

Ensure Sound internal control system by:

GWP analysis, class wise & source wise month on month
Updating the investment register, calculating the accrual investment income and preparation of journals for posting
Reinsurance accounting and record keeping
Preparation of weekly payments projections for the company (Staff salaries, claim payments and other creditors)
Preparation of report of premium booked, premium receipted and premium banked daily.
Timely allocation of premium receipts and other credits
Reconciliation of Debtors’ accounts every 25th day of the month
Confirm payment of premium paid before claim payment.
Reconciliation of facultative business with other Insurance companies.
Monthly compilation of facultative recoveries report on the 3rd day of the following month and follow-up.
Banking cheques collected and keeping an updated file of premiums collected and banking slips.
Provide a weekly report of receipts and banking.
All other duties as assigned by the supervisor.

Transaction posting

Amortization of prepaid expenses
Reconciliation of prepayment Account
Prepare & verify commission statements before payment.
Update intermediary commissions schedule for payment.

Statutory filing (Corporate Tax, VAT)

Quarterly Corporate tax Estimates - Preparation, Revision, Filling & payment
Process assessment of stamp duty from TRA, follow up & Remittance.
Follow up on payment of City service levy, premium levy, and Stamp Duty
Quarterly reconciliation of the premium levy and city service levy account.
Reconciliation of the tax account
Preparing VAT returns for the company by the 10th of the following month

Bank reconciliations

Ensuring that bank reconciliations are done monthly and signed off by Finance Manager.
Following up with any reconciling items until the conclusion

Filing system

Ensure proper and "easy to refer" way of filing system for all transaction supporting documents.

Education Experience, Knowledge, and Skills Required

BSc in Accounting and Finance from a recognized institution of higher learning.
Additional certification (CPA or CMA) is a plus.
At least 3 years of work experience as an Accountant in the insurance company
Excellent knowledge of accounting regulations and procedures, including the Generally Accepted Accounting Principles (GAAP)
Hands-on experience with accounting software like Fresh Books and QuickBooks
Advanced MS Excel skills including VLOOKUPs and pivot tables
Experience with general ledger functions
Strong attention to detail and good analytical skills
Experience with general ledger functions

Deadline 29th June 2023