Head of Finance, Reporting, and Tax - Insurance Industry

Key Responsibilities:

Accounting & Reporting

• Assist the CFO in the strategic planning and direction of the Company by providing commercial and financial insights, both strategic and operational, as a member of the Senior Management Team.
• Prepare and ensure proper consolidation of financial data for group-level reporting.
• Participate in implementing all financial aspects of the strategic plan and achieving associated objectives.
• Collaborate to manage and maintain the business planning and budgeting process, including budgets, capital expenditures, budget monitoring, and forecasts/run rates.
• Ensure the Company has effective financial systems, controls, and processes in place, utilized consistently throughout the organization.
• Assist in providing a comprehensive range of financial accounting and reporting services for profitability assessment across various segments (MM, CC, Branch, Line of Business, Channel, and selected agents).
• Review various schedules for external and internal reporting requirements, including the monthly management accounts pack, NIC prudential reports, financial reports for board meetings, tax computations, and annual financial statements.
• Prepare monthly, quarterly, and annual financial statements in compliance with group, statutory, regulatory, and IFRS 17 requirements.
• Assist in analyzing and assessing the reporting impact on the organization, developing strategies to ensure compliance with new reporting (IFRS 17) and disclosure requirements.
• Coordinate, develop, and update written policies and procedures related to the financial reporting process
• Ensure the timely development and maintenance of high-quality reports to meet financial reporting deadlines.
• Collaborate closely with colleagues at all levels to ensure commercial priorities, financial targets, and disciplines are well understood and adhered to.
• Ensure the Company meets its corporate, statutory, and fiscal obligations in a timely and cost-effective manner.
• Generate monthly cost statements comparing actuals against budgets and forecasts.
• Analyze and interpret financial information.
• Monitor and interpret cash flows and forecast future trends.
• Implement appropriate operational procedures to ensure efficient operation and monitoring of the finance department, meeting SLAs with the business.
• Assist in conducting reviews and evaluations for cost-reduction opportunities.
• Provide the CFO with accurate and up-to-date management information, both individualized and comparative, regarding the Company's financial operations.
• Maintain a robust fixed assets management system.

Tax Compliance and Filing

• Oversee all tax compliance processes, including the preparation, review, and timely submission of tax returns (corporate income tax, VAT, payroll tax, and other relevant taxes).
• Ensure accuracy in tax filings and adherence to local, national, and international tax regulations to prevent penalties or legal issues
• Develop and implement effective tax strategies to optimize the company’s tax position while remaining fully compliant with applicable tax laws.\
• Identify and mitigate potential tax risks by establishing strong internal controls and monitoring changes in tax regulations.

Strategic Support, Advisory and Other Duties

• Work closely with other departments (e.g., Actuarial, Underwriting, Marketing) to provide financial guidance and support for business initiatives.
• Conduct pre-audits of insurance and non-insurance payments and supplier requisitions to ensure they are within budget before approval for payment.
• Oversee a smooth external audit process with NIC, Ghana Revenue Authority, and external auditors.
• Address findings resulting from external audits.
• Respond to findings from internal audits, operational risk assessments, and compliance reviews.
• Ensure the finance team remains informed about financial reporting best practices to continuously improve reporting quality.
• Write and oversee the timely performance evaluations for direct reports and their subordinates.
• To represent the CFO on selected committee
• Facilitate training where required in order to build and develop capacity for team members.

What will Make you Succeed?

Technical Competencies:

• Understanding of accounting principles, practices, regulations, and procedures related to financial reporting and Tax.
• In-depth understanding financial regulations and compliance of General Insurance Business, including regulatory requirements
• Financial reporting in compliance with IFRS and regulatory requirements (including IFRS 17)
• Conversant in NIC provisions and prudential reporting
• Conversant in Income Tax Act 896
• Accounting system software (eg. Sage, ERP etc.)
• Skilled in data processing techniques for accounting systems. (eg. Sage, ERP etc)
• Proficient in the Microsoft Suite, with intermediate to advanced Excel skills.
• Budgeting
• Project Management skills
• Experience with Premia Integrated software is a plus.

Leadership Competencies:

• Agility in decision making
• Integrity and accountability
• Ability to effectively supervise and manage a team.
• Proficient in managing the performance of subordinates.
• Foundational team leadership skills to foster team development, minimize conflicts, and manage team dynamics.
• Team development and mentorship
• Change Management

Personal Competencies:

• Strong people skills.
• Adaptability to change and diversity.
• Agility in cognitive reasoning
• Personal credibility and self confidence
• Results oriented
• High integrity, creativity, and good interpersonal ability

Academic and Professional Qualifications Required:

• Executive/Master degree in Financial Management, Accounting, or similar field.
• Qualified Accountant with ICAGH, ACCA or its equivalent
• Ten (10) and above years extensive experience Finance, Accounting and Investment with over 5 years in management role.

Key Relationships:

• Relates with the Sales and Distribution Team with regards to prompt tracking of funds received from customers
• External relationships with banks, brokers, governmental institutions
• SSNIT, GRA, NPRA, Internal and External Auditors, Financial Institutions.
• Maintain contact with NIC & GIC to stay up to date on industry trends.

Location: Accra

Salary: Attractive