CHIEF FINANCE OFFICER (INSURANCE COMPANY)

About the Role

The Chief Finance Officer (CFO) position at our client’s insurance company represents a pivotal leadership role in the organization. This innovative company leverages mobile technology to provide affordable insurance and health services to low-income consumers in Uganda. The CFO will spearhead the establishment of the finance function, ensuring compliance with local regulations and tax requirements while setting the groundwork for operational success. In the initial months, the CFO will focus on developing accounting processes, managing financial reporting, and collaborating closely with both local and international stakeholders to align financial practices with the company’s growth objectives.

Key Responsibilities

• Establish the finance function by setting up the accounting software and creating a chart of accounts that aligns with the group’s structure and requirements.
• Lead the registration processes with the Uganda Revenue Authority (URA) including obtaining a Tax Identification Number (TIN) and ensuring compliance with VAT and PAYE obligations.
• Facilitate the opening of local bank accounts and establish robust payment and reconciliation processes in collaboration with mobile money partners.
• Oversee and ensure compliance with the Insurance Regulatory Authority (IRA) requirements, including the preparation of necessary financial documentation for broker licensing.
• Manage the month-end closing process, ensuring all financial statements are accurate and reconciled, including accounts payable, accounts receivable, and cash balances.
• Prepare and deliver timely monthly financial reports to the Group in the required format, including foreign exchange adjustments and other key metrics.
• Develop annual budgets, forecasts, and conduct variance analysis to support strategic planning and financial performance evaluation.

Requirements & Qualifications

• A minimum of a bachelor’s degree in Finance, Accounting, or a related field; a Master’s degree or professional certifications (such as ACCA or CPA) is preferred.
• Extensive knowledge of Uganda’s accounting and tax regulations, with at least 5 years of experience in a similar finance leadership role.
• Proficiency in accounting software/ERP systems, specifically MBC or comparable platforms, with hands-on experience in financial management.
• Strong understanding of the insurance industry, particularly the regulatory landscape for insurance intermediaries in Uganda.
• Excellent analytical skills with a detail-oriented approach, able to manage complex financial data and derive actionable insights.

What You’ll Gain

• Opportunities to lead and shape the financial operations of a pioneering company in the insurance sector, contributing to impactful change in the community.
• Development of a robust skill set in financial management, regulatory compliance, and strategic planning within a dynamic environment.
• Experience in setting up financial systems from the ground up, enhancing both technical and leadership competencies.
• Networking opportunities with industry professionals and stakeholders, potentially advancing your career within the insurance and financial services sector.

How to Apply

Interested candidates are invited to submit their applications through the designated portal. For more details on the application process, please visit: Apply here.