Functional Area
FA – FinanceEstimated Travel Percentage (%): No TravelRelocation Provided: NoAIG Kenya Insurance Co. Ltd
Purpose/Nature Of The Role
This is a senior position which seeks to increase the long term share value and to safeguard the assets of the company by: finding ways to improve the performance of the financial operation, ensuring a satisfactory system of internal controls in the organization, shareholder wealth maximization, safeguarding the assets of the company – avoiding wastage through prudent investment, maintaining adequate liquidity to facilitate prompt claims service without jeopardizing investment income and ensuring compliance with regulation (Local & US SEC, SOX etc).
Principle Duties And Responsibilities
Regulatory, Statutory & Management Reporting
Overall responsibility for all Finance aspects in Kenya, which includes Tax, Actuarial, Controlling, FP&A and Capital Management responsibilities.
Accountable for timely and accurate delivery of AIG Kenya’s external financial reporting and maintenance of a robust control environment.
Business partnering and support role to the CEO, which includes updates on business strategy execution and profitability assessments of each line of business
Primary Finance contact to the independent, non-executive directors, and responsible for accurate and timely Board reporting
Responsible for overseeing the RBC function and the timely/accurate reporting of the Capital position and Capital Planning to the Board
Oversight of all local financial statement and regulatory filings, and primary Finance liaison with all regulatory authorities
Management of the audit process with external and internal auditors
Implement and monitor Monthly Financial Reporting with a key focus on business performance, profitability and strategy execution
Establish and implement the regulations on and procedures of financial management, cost management, budget management, accounting, accounting supervision and audit; Supervise the implementation of above-mentioned regulations and procedures;
Represent AIG to the regulator regarding all financial matters when required and in the board of directors;
Managing capital to meet regulatory requirements, dividend commitments and investment requirements; optimizing deployment of and returns on capital within those constraints;
Overseeing the investment management activities of the company;
Embedding the use of key performance metrics within the organization to drive actions and improve performance;
Delivering well-supported budgets, plans and forecasts in line with AIG’s timelines, along with regular progress updates and action recommendations as appropriate;
Ensure proper tax planning, computation and accounting and remittance of all applicable taxes (PAYE, VAT, WHT, etc)
Business Partnership & Leadership
Engage with executive management as a strategic partner, influencing the future direction of the company and aligning business and finance strategy to achieve profitable and sustainable growth.
Instill a financial approach and mind set throughout the organization as a catalyst to help other parts of the business perform better.
Designing and implementing change to organizational design, processes and systems to meet current and future reporting obligations;
Improving efficiency whilst maintaining control standards consistent with AIG policies and regulatory requirements;
Control environment and Framework
Provide a preventive financial control environment, aligned to company and legislative requirements.
Ensure integrity of all financial data in underlying administrative system.
Ensure control over operating systems impacting financial performance is implemented and operating effectively.
Recommend improvements and adjustments as needed to ensure operational efficiency and meet operating requirements.
Remediate and resolve material weaknesses and significant deficiencies identified through internal audit within agreed timelines
Liaise with internal auditors and provide recommendations for procedural improvements
Keep abreast of local financial, legislative environment; advise the CEO on financial issues which arise and the consequences of proposed course of action.
Ensure financial records are maintained in line with company and legislative requirements
Ensure Internal and External financial reporting is concluded on a timely manner with appropriate approvals
Administer the work of investment committee
Review financial analysis for investment purposes as requested by the CEO.
Manage account reconciliations accordingly to company and auditors standard
Team Management & Development
Leading, mentoring and professionally developing people, making best and highest use of talent including exporting to benefit the wider Group, managing succession plans, fostering a culture of collaboration and promoting and delivering the benefits of working collaboratively to deliver AIG’s strategic objectives
Aligning activity of Finance in Kenya with Region and Group
Qualifications
Business Degree (B.Com – Accounting or MBA)
Certified Public Accountant (K)
Member of the ICPAK
Experience
Minimum of 8 years of experience in a Senior Accounting Position, as Finance Manager or Chief Finance Officer.
Working knowledge of a multinational organization is highly recommended.
Working in a matrix reporting structure will be an advantage.
Skills
Business acumen to understand AIG’s business and functions
Solving complex problems
Managerial courage
Organizational Agility
COMPETENCIES
Technical Competencies: –
Financial Analysis & Reporting
Optimizing work processes
Planning
Compliance/Regulatory knowledge
Management Reporting
Business/Product knowledge
Leadership Competencies: –
Dealing with Ambiguity
Excellent negotiation and presentation skills
Customer relationship building and management
Conflict management
Team building skills
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
