Chief Accountant
Full time @Britam Uganda posted 21 minutes ago in Administration Shortlist Email JobJob Detail
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Job ID 25079
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Career Level Officer
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Experience 3 Years
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Gender Both
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Industry Administration
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Qualifications Degree Bachelor
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Job Type Full time
Job Description
Job Purpose
The role holder will be responsible for sound Financial Accounting, Reporting, Robust Internal Control Environment and Regulatory Compliance. Areas of responsibility include Accounts payable & Disbursement, Reinsurance Accounting, Tax filing & Payment, Receipting of all company collections, Medical Accounting & Reconciliation, Intercompany, Fixed Assets accounting, Bank & General Ledger reconciliations.
Key Responsibilities
Collaborate with Corporate segment lead to ensure strong controls and manage financial risks as well timely financial planning and reporting for GI products
Support Financial analysis and reporting for all GI products and communicate financial results in an accurate and timely manner
Build strong financial controls for all business process to minimize risks and meet legal and audit requirements
Manage, direct, and develop performance of the Financial Operations Team and Medical Accounting Associates.
Review and approve payments in ERP and any other relevant system including; Medical, Claims, Reinsurance and other service providers,
Review and approve reinsurance reconciliations and payments including; Facultative, Treaty and Excess of Loss.
Review and approve tax returns and payments in line with the URA tax requirements including; Excise duty, VAT, WHT, PAYE, Stamp duty and Corporation tax.
Review and approve Fund Management reconciliations.
Review and sign off Hospital reconciliations below Ugx.10 million.
Ensure funds received are receipted and allocated accordingly including; premiums, salvages, claim excess, medical cards, motor certificates, assets disposals and reinsurance recoveries.
Review Fixed Assets register and movement schedule and ensure month end activities including; disposals, additions, depreciation/amortization and revaluation are performed.
Compliance with the Insurance Act and Regulations ensure that all IRA and other Regulatory Authorities related compliance guidelines are adhered to.
Preparation of the annual accounts and financial statements in compliance with the Insurance act.
Liaising with External Auditors during Interim & final Audits by ensuring that all the schedules are prepared and submitted on a timely basis. Coordinate the implementation of Internal and External Audit issues within the agreed timelines.
Review monthly Intercompany reconciliation and ensure collection and payments where necessary with the relevant Subsidiaries.
Review and approve monthly Bank and other General Ledger reconciliations.
Maintain and strengthen internal controls over financial reporting.
Research and resolve accounting issues including evaluation and implementation of new accounting pronouncements to ensure IFRS compliance.
Ad hoc reports as may be required from time to time.
Delegated Authority: As per the approved Delegated Authority Matrix Uganda’s companies act and IFRS in liaison with the various support teams.
Provide training, coaching and guidance to staff appropriately to facilitate personal growth.
Key Performance Measures
Timely Financial Reporting
Cost savings on budget
Reconciliation preparation and review
Implementation of all audit recommendations
Knowledge, Experience And Qualifications Required
- Bachelor’s degree in a business-related field
- MBA will be an added advantage
- CPA (U) or equivalent Qualification
- Five (5) years’ experience in a similar position desirable
Technical/ Functional competencies
- Knowledge of insurance regulatory requirements
- Sales and marketing management skills
Organization
Britam Insurance Company Uganda Limited
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