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Financial Accountant Job in Nairobi

Job Vacancy: Financial Accountant

Business Function:
 Finance & Accounting

Job Title:
 Financial Accountant

Reports to:
 Chief Accountant

Location: Nairobi, Kenya

Our client is an International financial services group serving around 25 million insurance customers, with over £500 billion of assets under management. They are listed on stock exchanges in London, Hong Kong, Singapore and New York.

Our client provide protection and savings opportunities to our customers, social and economic benefits to the communities in which we operate, jobs and opportunities to our employees and financial benefits for our investors.

By offering security, pooling savings and making investments, we help to drive the cycle of growth.

Background and Purpose:
 Our client is establishing new businesses in Africa. Recently they have acquired a small business in Kenya and most recently one in Uganda. 

To support the sustainable growth of the business, it is important to deliver the insurance promise by providing a positive claims experience to the insuring publics, to be achieved through service differentiation, prudent, timely and effective benefits payment. Kenya will be the operational hub for East Africa.

Job Scope:
 The Financial Accountant will provide specialist financial accounting services to the business thereby ensuring that the company remains on financially sound trajectory and that it complies with the legal requirements and regulations

As the internal financial accounting expert, the role holder will as a minimum be expected to prepare financial statements and participate in important financial decisions including but not limited to long-term and short term financial projections and planning.
The role holder will in addition work closely with the Auditors in examining financial statements to determine whether they are true and fair to assure the organization that it is complying with legal requirements and fulfilling the International Financial Reporting Standards and best practices.
Reporting to the Chief Accountant, the Financial Accountant will support the business in understanding and meeting the Tax obligations while highlighting the impact that any changes within the company or to the tax laws will have upon the tax bill.
In order to achieve the above, we are looking for a dynamic and seasoned Financial Accountant who is deadline oriented, highly analytical with adequate business knowledge and exposure in managing profitability, to take charge of the entire spectrum in financial accounting and reporting in line with the international accounting standards and local reporting requirements.

Principal Accountabilities:
  • To review payment transactions to ensure that they are properly and adequately recorded and that the supporting documentation is complete, valid and authentic.
  • On a daily basis, to review all payments submitted to the business. Such payments will be reviewed within 24 hours of receipt.
  • To ensure that all the statutory deductions and utility payments (PAYE, Pension, NSSF, NHIF, instalment tax, withholding tax, power, internet, telephone, rent) are processed and submitted in an accurate, complete and timely manner.
  • To review Over Journal entries to ensure they are properly processed and recorded in the General Ledger and that they are valid.
  • Each month end, and as part of the monthly closure process, to ensure that all journal entries for the month are posted and reviewed by the 4th day of the subsequent month.
  • To prepare and/or review supporting schedules and performance of the General Ledger reconciliations on a routine basis
  • To ensure that all Reconciliations are completed by the 4th day of each subsequent month for the following general ledger accounts - premium income, claim liabilities, incurred claims, prepayments, payroll liabilities, accruals, inter-branch and withholding tax and instalment tax accounts.
  • To prepare statutory audit schedules and financial statements that comply with the
  • IFRS and Kenyan Company’s Act requirements.
  • To liaise with external auditors on various audit matters and address/respond to any queries arising.
  • To internally consult with the relevant authorities and respond to various correspondences relating but not limited to external audit, internal audit, tax, bankers and Insurance Regulatory Authority.
  • To partner with the Chief Accountant in establishing and monitoring the maintenance of an adequate system of financial controls.
  • To perform any other properly issued and allocated duties and tasks from time to time, including delegated duties for absent staff, responding to operational or other such management queries.
Core Competences Required:
  • Ability to analyze complex financial information with a keen eye to detail and report to senior management with utmost accuracy and attention
  • Sound understanding of the relevant financial instruments such as IFRS, compliance and disclosures
  • Demonstrated ease in exercising initiative, good judgment, good problem solving, and decision making.
  • Superior written, verbal, interpersonal & communication skills and capacity to build and maintain good long term relationships with stakeholders and partners
  • Ability to demonstrate skills in organization, prioritization, leadership, project management, communication and personal computing products such as Word, Excel, PowerPoint, etc.
  • Above board levels of honesty, integrity and confidentiality
  • Detail oriented and with demonstrable initiative/self-starter
  • Bachelor of Commerce in Finance or Accounting, Business Administration, Economics, or other relevant degree from a recognized university. A Master degree is preferable.
  • Certified Public Accountant (CPAK) or ACCA
  • Demonstrable knowledge of the insurance industry
  • 5+ years relevant working experience of which 3 must be in a similar/higher position
How to Apply

If you believe your career objectives match this exciting position, please forward your application and detailed C.V stating your current position, remuneration, contact details by 5th November 2015 to the Sheer Logic Management Consultants E- Mail:

Only shortlisted candidates will be contacted

NB: Please clearly indicate on the subject line as ‘Financial Accountant’

Our Client is an equal opportunity Employer

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