Job Title: Senior Accountant OMLAU
Organisation: UAP Old Mutual Insurance
Duty Station: Kampala, Uganda
About the Company:
The UAP Old Mutual Group is an integrated Financial Service business comprising Faulu Microfinance Bank, UAP and Old Mutual. The Group, which is operational in East Africa services to more than 1.2 million customers across Kenya, Uganda, Tanzania, Rwanda and South Sudan. The UAP Old Mutual Group now comprises of three key players as a result of the acquisition of a controlling stake in Faulu in 2014 and UAP in 2015 by Old Mutual. The acquisitions resulted in Old Mutual Kenya UAP Holdings and Faulu Microfinance Bank, forming one of the largest financial services groups with a growing footprint in East and Central Africa. UAP and Old Mutual have been major players in the financial services market in East Africa for decades. The two entities have vast experience in Insurance, Investment, Asset Management and Banking, and are passionate about helping our customers achieve their financial goals.
Key Duties and Responsibilities:
- To manage the accounting function of the company in a professional manner to ensure the company meets its financial obligations on a day-to-day basis.
- Accountable for the overall operations of the finance function, including but not limited to daily finance operations, project management, audit execution and compliance at an operational level.
- Generates financial information and reports.
- Analyses and reports on variances.
- Maintains suitable financial control environment.
- Support with IFRS 17 reporting and other financial reporting requirements of the company.
- Prepare IFRS 17 compliance RBS returns.
- Confirm investment in company assets are within company investment policy statement as guided by the Insurance Act and advice the fund management monthly;
- Oversee Expenses management, containment and austerity measures to achieve cost savings of a minimum 10%.
- Implementation and reviewing of credit management strategies in line with the overall corporate strategic objectives;
- To manage the operational activities within the accounting function and to supervise and motivate the staff therein to ensure that they successfully discharge their duties.
- Coordinate more complex accounting projects and initiatives with other members of the accounting and finance team or with other departments.
- Document and monitor internal controls in support of auditing team.
- Ensure that (external and internal) accounting procedures are being followed to ensure compliance with international financial reporting standards and regulators requirements.
- Develop and offer business analytics relevant for decision-making by Exco management of the company.
- Ensure that the monthly and annual accounts are prepared within the stipulated time to assist management and directors in prompt decision making.
- Ensure compliance with tax authorities and commissioner of insurance requirements to avoid any regulators requirements
- Support with team career development through training programmes, mentorship and fostering team spirit.
- Ensure a strong financial control environment through reviews of processes and controls, implementation of audit recommendations and the controls improvement program.
- Support with stakeholder engagements such as internal and external audits, regulatory bodies, banks and other key consultants/ stakeholders.
- Ensure compliance with all other industry relevant regulations.
- AML: The incumbent will be responsible for ensuring adherence to, implementation of, and adoption of Compliance, Anti-Money Laundering (AML), and Sanctions-related policies, procedures, and process requirements within Old Mutual and it subsidiaries. This includes execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality. Additionally, the role involves identifying and monitoring potential AML, Sanctions, or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action
Qualifications, Skills and Experience:
- A University degree in Business Administration, Finance and Accounting or an equivalent with qualifications in ACCA/CPA
Skills
- Accounting, Accounts Payable Process, Customer Due Diligence (CDD), Due Diligence, Enhanced Due Diligence, Ensure Compliance, Finance, Financial Operations, Financial Reporting Standards (FRS), IFRS 17, Insurance, International Financial Reporting Standards (IFRS), Investment Policy, Investments, Invoices, Know Your Customer (KYC), Money Management, Payment Handling, People Management, Professional Etiquette, Regulations, Team Spirit, Teamwork
Competencies
- Business Insight
- Communicates Effectively
- Decision Quality
- Ensures Accountability
- Financial Acumen
- Manages Complexity
- Plans and Aligns
- Tech Savvy
Education
- Bachelors Degree (B): Business Administration (Required), Honours Degree (Hons): Finance And Accounting Public (Required)
How to Apply:
All candidates should apply online at the link below
Deadline: 15th May 2025 by 23:59
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