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Finance Operations Associate Life

Closing: Aug 30, 2022

This position has expired

Published: Aug 24, 2022 (2 months ago)

Job Requirements

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Job Summary

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Job Purpose

Responsible for financial controls i.e. for receipting, account payables bank, inter-company and general ledger reconciliation and compliance.

Knowledge, experience and qualifications required

  1. Bachelor of Commerce (Accounting) or its equivalent
  2. At least one year’s experience in a similar position
  3. CPA Part 1 and continuing. Fully qualified CPA (K) or ACCA is an added advantage.

Technical/ Functional competencies

  1. International Financial Reporting Standards (IFRS).
  2. Financial Accounting.
  3. Accounts Analysis and reconciliation.
  4. Analytical –highly analytical and ability to challenge status quo based on quantitative facts and impacts.
  5. Report writing - ability to develop quality and comprehensive reports.
  6. Knowledge of insurance company regulatory requirements.


Responsibilities

Job Purpose

Responsible for financial controls i.e. for receipting, account payables bank, inter-company and general ledger reconciliation and compliance.

Knowledge, experience and qualifications required

  1. Bachelor of Commerce (Accounting) or its equivalent
  2. At least one year’s experience in a similar position
  3. CPA Part 1 and continuing. Fully qualified CPA (K) or ACCA is an added advantage.

Technical/ Functional competencies

  1. International Financial Reporting Standards (IFRS).
  2. Financial Accounting.
  3. Accounts Analysis and reconciliation.
  4. Analytical –highly analytical and ability to challenge status quo based on quantitative facts and impacts.
  5. Report writing - ability to develop quality and comprehensive reports.
  6. Knowledge of insurance company regulatory requirements.


  1. Verifying and loading payment files received from various departments, advising for payment.
  2. Processing payments
  3. Capturing manual invoices requested for payment by the operations team.
  4. Running, verifying and validating reimbursements reports to facilitate payment.
  5. Ensuring timely processing and approval of payments.
  6. Updating and circulating various payment reports to stakeholders 
  7. Updating bank statement in the shared folders. 
  8. Perform manual and automated bank reconciliations.
  9. Review online bank statements and perform daily auto reconciliation for the payments accounts.
  10. Perform inter-company reconciliations with other business unit on timely basis to facilitate closure of the ledger within the stipulated timelines and follow up for payments. 
  11. Posting of adjustment journals.
  12. Posting of premiums and other end month journals.
  13. Capturing and reconciliation of monthly debits and credit notes and related transactions
  14. Reconciliation of balance sheet, profit and loss ledger accounts.
  15. Posting adjustments identified during the reconciliation process.
  16. Sharing reconciliations with the various stakeholders within the company for further action and/or decision making.
  17. Responding and resolving queries from both external and internal customers on a timely basis.
  18. Ensure the company complies with its regulatory requirements (including IRA, UFAA, KRA and any other regulators).   
  19. Receipting and reconciling receipted funds to the customers’ policies.
  20. Daily banking of receipted cheques
  21. Circulation of regular receipting and exception reports
  22. Assist in preparation of required schedules and information for internal and external audits.
  23. Preparation of daily, monthly, annual and other adhoc reports as required.
  24. Support the assigned operations team in compliance with the reconciliation policy 
  25. Review of bank and ledger reconciliations for the operations team 
  26. Reconciliation of Fixed Assets in liaison with Fixed Assets Associate 
  27. Perform any other task(s) as may be allocated/ assigned from time to time
  28. Delegated Authority:  As per the approved Delegated Authority Matrix


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