Deputy Finance Manager – KUSCCO Mutual Assurance

KUSCCO Mutual Assurance, a subsidiary of KUSCCO LTD, is a licensed life insurer under the Insurance Regulatory Authority (IRA). Through our extensive work with SACCOs and the public, we have identified the need for quality protection products at affordable pricing, tailored to individual needs.

Job Purpose

The Deputy Finance Manager will support the Finance Manager in overseeing the financial management, reporting, and regulatory compliance of KUSCCO Mutual Assurance. The role ensures efficient financial operations, strategic planning, and risk management to drive the company's growth and sustainability.

Key Responsibilities

1. Financial Management & Reporting

• Assist in the preparation of financial statements, ensuring compliance with IRA, IFRS, and regulatory standards.
• Support in budgeting, forecasting, and financial planning to align with business goals.
• Oversee cash flow management, ensuring sufficient funds for operations.
• Conduct financial analysis and variance reporting for decision-making.

2. Regulatory Compliance & Risk Management

• Ensure compliance with IRA, KRA, and other financial regulatory bodies.
• Support in audit preparation and coordination with internal and external auditors.
• Implement internal financial controls to mitigate risks and enhance efficiency.
• Monitor insurance financial regulations and tax policies, ensuring timely compliance.

3. Investment & Treasury Management

• Assist in managing the company’s investment portfolio, ensuring optimal returns.
• Monitor market trends and recommend investment strategies aligned with business objectives.
• Oversee treasury operations, including fund allocation and capital management.

4. Accounts Payable & Receivable Management

• Ensure timely processing of claims, commissions, and payments.
• Oversee reinsurance transactions and financial reconciliations.
• Monitor premium collections and policyholder accounts, ensuring minimal bad debt.

5. Strategic Planning & Business Growth

• Provide financial insights to support product pricing and risk assessment.
• Collaborate with actuarial, underwriting, and sales teams on profitability analysis.
• Drive financial strategies that enhance operational efficiency and revenue growth.

6. Leadership & Team Management

• Supervise and mentor finance officers and accountants, ensuring high performance.
• Foster a culture of financial discipline, accuracy, and compliance.
• Support finance transformation initiatives, including digital financial systems.

Key Qualifications & Competencies

Education & Experience

• Bachelor’s degree in Finance, Accounting, Economics, or a related field.
• CPA(K), ACCA, CFA, or equivalent professional qualification.
• Minimum 5+ years of experience in financial management, preferably in insurance, banking, or SACCO industries.
• Strong knowledge of IFRS, IRA regulations, and tax laws.

Technical & Soft Skills

• Proficiency in financial reporting, budgeting, and investment management.
• Experience in insurance accounting, reinsurance, and claims processing.
• Advanced skills in ERP systems, financial modeling, and data analysis.
• Strong leadership, communication, and stakeholder management skills.
• High integrity, attention to detail, and strategic thinking.