Head of Cost Control Job in Kenya

Job Ref. No.	JHL010
Position:	Head of Cost Control

Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling Life, Pensions, General and Medical Insurance. Today, Jubilee is the number one insurer in East Africa with over 450,000 clients. Jubilee Insurance has a network of offices in Kenya, Uganda, Tanzania, Burundi and Mauritius. It is the only ISO certified insurance group listed on the three East Africa stock exchanges – The Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities Exchange. Its regional offices are highly rated on leadership, quality and risk management and have been awarded an AA- in Kenya and Uganda, and an A+ in Tanzania. For more information, visit www.JubileeInsurance.com.

We currently have an exciting career opportunity for the Head of Cost Control. The position holder will report to the Group Chief Finance Officer and will be based at Head Office in Nairobi.

Role Purpose

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.

Main Responsibilities

Cost Monitoring

• 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.
• Maintain current market intelligence to evaluate individual business unit performance and conduct peer company comparisons.
• Operational support and financial consulting on proposed strategies for responsible departments such as human resources, payroll, accounting, and finance to ensure that all costs are accurately tracked.
• Managing supplier relationships to ensure that the company is receiving quality products at competitive prices.
• Lead business units’ team to optimize network operational costs working to balance operational metric and ensure maximum profitability.

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.
• Provide inputs for the development of relevant processes for benchmarking within the organization.
• Provide inputs on the polices, procedure, and processes for the financial reporting.
• Ensure timely analysis / monthly reporting of budget variance / financial performance to management whilst recommending corrective action plans.
• Analyze existing systems and propose revisions / enhancements to further improve the Jubilee Group’s financial and information systems and reporting standards.
• Produce monthly internal management reporting of results at all levels in liaison with the various entities’ finance departments.
• Communicate analysis of results to relevant management.
• Ensure that all financial reports of the organization are completed in a timely manner and comply with organization financial policies and standards.
• Communicate developed policies and procedures related to reporting.

Operational and Regulatory Excellence

• Ensure that the department’s strategy, objectives, and deliverables are aligned to ensure a seamless client experience for our partners and their customers.
• Carrying out the department’s operational plan while defining and upholding organizational objectives, rules, and guidelines.
• Create and implement operational efficiency procedures to support internal processes that are seamless.
• Coordinate efforts between departments and functions to achieve resource optimization.
• Provide access to accurate and consistent information and services across all entities.
• Carry out any additional tasks that may occasionally be assigned.

Change Management

• Constantly re-configure and re-calibrate the department to build agility to support the Group’s future outlook and strategic posture.
• Introduce novel ideas to ensure the department’s prompt and appropriate adoption of the various Jubilee Group imperatives including cost reduction initiatives.

Key Competencies

• Highest standards of integrity and ethical conduct.
• Visionary Leadership and entrepreneur Spirit
• Market Awareness
• Customer Focus
• Systems orientation.
• Continuous Innovation
• Ownership & Commitment
• Team Spirit

Qualifications

• 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

Relevant Experience

• 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)

How to Apply

If you are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com quoting the Job Reference Number and

Position by 22^nd January 2023.

Only shortlisted candidates will be contacted.