Jubilee Insurance, the first locally incorporated insurance company in East Africa, has been at the forefront of the industry since 1937. With a strong presence in Kenya, Uganda, Tanzania, and Burundi, we offer Life, Pensions, General, and Medical Insurance to over 1.9 million clients. As the only ISO-certified insurance group listed on the Nairobi Securities Exchange, Dar es Salaam Stock Exchange, and Uganda Securities Exchange, Jubilee continues to lead in financial excellence and customer-centric solutions.
We are currently looking for a dynamic and results-driven professional to join our team as the Head of Finance at Jubilee Health Insurance Limited. This role is based at our Head Office in Nairobi and reports to the Chief Financial Officer.
Job Ref. No: JHIL139
Position: Head of Finance
Role Purpose
The Head of Finance will provide strategic financial leadership, overseeing financial planning, operations, and compliance to ensure the company’s financial health and long-term sustainability. This role is instrumental in driving profitability, optimizing investment strategies, and ensuring adherence to regulatory standards in the competitive medical insurance sector.
Key Responsibilities
1. Strategic Leadership
- Collaborate with the CFO to develop and implement financial strategies aligned with Jubilee Group’s objectives.
- Provide financial insights to support business strategies, ensuring profitability and long-term sustainability.
- Lead the budgeting process to align financial resources with strategic goals.
- Conduct financial forecasting, scenario analysis, and profitability assessments.
- Work closely with the actuarial team to review pricing models for medical insurance products.
- Develop investment strategies for optimal returns and effective asset-liability management.
- Analyze profitability across product lines, distribution channels, and customer segments to identify growth opportunities.
- Build strong relationships with banks, financial institutions, and rating agencies to enhance financial partnerships.
2. Financial Operations and Performance Management
- Develop and implement effective sales strategies, including pricing models, sales campaigns, and incentive programs to drive revenue growth.
- Oversee client onboarding and provide ongoing financial support.
- Manage financial reporting, ensuring timely and accurate preparation of income statements, balance sheets, and cash flow reports.
- Monitor cash flow, liquidity, and investment portfolios to ensure financial stability.
- Identify cost reduction opportunities and drive operational efficiency for improved profitability.
- Conduct variance analysis to align financial performance with corporate objectives.
3. Corporate Governance and Compliance
- Ensure compliance with regulatory and statutory requirements, including tax laws and industry regulations.
- Implement strong internal controls to safeguard company assets and ensure financial reporting accuracy.
- Identify and mitigate financial risks affecting company profitability and solvency.
- Ensure adherence to capital adequacy requirements specific to the insurance industry.
- Serve as the key liaison for audits, regulatory inspections, and financial reporting to external stakeholders.
4. Leadership and Team Development
- Lead and mentor the finance team to foster a high-performance culture.
- Promote accountability, innovation, and continuous improvement within the finance function.
- Act as the primary representative for financial matters in discussions with regulatory bodies and external partners.
Key Skills and Competencies
- Strong knowledge of financial management, regulatory compliance, and insurance industry standards.
- Excellent analytical and strategic planning abilities.
- Proven leadership and team management skills.
- Proficiency in financial modeling and data analysis tools.
- Strong interpersonal and communication skills for stakeholder engagement.
- High integrity and ethical conduct.
Academic & Professional Qualifications
- Bachelor’s degree in Finance, Accounting, Economics, or a related field.
- Master’s degree in Business Administration (MBA), Finance, or a related discipline is an added advantage.
- Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), or equivalent qualification.
- Membership in professional bodies such as ACCA or ICPAK.
Relevant Experience
- Minimum of 10 years of experience in finance, with at least 5 years in a senior leadership role.
- Strong preference for candidates with experience in the insurance or healthcare industry.
- In-depth understanding of the regulatory framework governing insurance companies.
How to Apply
If you are a qualified professional looking for an exciting challenge in a dynamic organization, we encourage you to apply.
Send your application to [email protected], quoting the Job Reference Number (JHIL139) and Position (Head of Finance) in your application email.
Application Deadline: 6th February 2025
Only shortlisted candidates will be contacted.
For more details about Jubilee Insurance, visit our website: www.JubileeInsurance.com
