FINANCE MANAGER

Island Life Assurance Co. Ltd VACANCY Finance Manager (FM/ILA/24)

Island Life Assurance Co. Ltd

VACANCY

Finance Manager (FM/ILA/24)

Reporting to the company’s CEO, the Finance Manager will:

• Oversee all company financials and accounts for the Life Assurance and Managed Pension Fund business
• Provide financial reports and interpreting financial information to members of Management Committee, pension Trustees, Board sub-committees and Board Committee
• Prepare and submission of Board and subcommittee packs
• Attend Management, Board, Board subcommittees and Trustee meetings as and when required
• Analyze costs, investment income, sales results and the company’s actual performance compared to the business plan
• Prepare Annual Budget, Action Plan, Strategic Plan and ensure regular monitoring and reporting
• Treasury management
• Manage the annual budgeting cycle
• Liaise with regulatory authorities and other stakeholders including Fund managers and Investment Advisors
•  Participate in business strategy and development
• Support month-end and year-end close process
• Ensure that all financial transactions are properly recorded, filed, and reported
• Coordinate the preparation of regulatory reporting and ensure compliance
• Conduct reviews and evaluations for cost-reduction opportunities
• Loan Management- loan approval
• Ensure statutory compliance with required financial controls
• Analyze and enhance key internal controls ensuring the accuracy and completeness of the MIS and internal management accounts
• Ensure a strong culture of control and accountability are embedded in systems and procedures
• Ensure monthly payroll and other HR related benefits are correctly computed
• Upgrade the efficiency of the Accounts preparation process
• Administer and document finance procedures and processes
• Assist and participate in the monitoring of the Risk Management Framework
• Coordinate with business units as well as external service providers and consultants for implementation of IFRS 17 and IFRS 9
• Provide assistance for the valuation exercise
• Coordinate Audit Processes
• Safeguard the assets of the company
• Ensure all company’s assets are properly and adequately insured
• Liaise with the Company Secretary for all secretarial matters
• Manage & comply with MRA reporting requirements and tax filings
• Manage and develop the Finance department staff to deliver proactive support to business line management
• Define objectives and set up measurable customer-centric KPIs and KRAs and ensure that appropriate monitoring and reporting system is set in place
• Inculcate a strong service-oriented and accountability culture in the department for both internal/external customers as well as other stakeholders and ensure work is performed within lead time

 Candidate profile: 

• ACCA or any other professional qualifications/relevant degree with at least 5-8 years of experience in Accounting and/or Financial Analysis, preferably in an insurance environment
• Excellent business judgement, analytical and decision-making skills
• Negotiation skills and the ability to develop strong working relationships
• Commercial and business awareness
• Good communication skills – both written and verbal
• A keen eye for detail and desire to probe further into data
• Ability to stick to time constraints
• Ability to work and effectively communicate with senior-level business partners
• Strong demonstrated use of Excel, Word, and PowerPoint

If you feel you have the right profile for the job, please submit your application by quoting FM/ILA/24.

The deadline for submission of all applications is 13 May 2024.

Management reserves the right not to proceed with the recruitment of the position of Finance Manager following this advert.