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Finance Manager
Job Overview
Closing Date: 27 November 2020

Island Life Assurance Co. Ltd

Finance Manager (FM/ILA/20)

 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 at by quoting FM/ILA/20 by latest 27th November 2020.

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