Senior Accountant

Job Purpose:

Responsible for managing the IFRS 17 reporting workflow, ensuring data validation, quality, and accuracy are maintained. The role also involves the timely preparation and updating of financial statements to ensure adequate disclosures and compliance with the current IFRS regime. Additionally, the role includes preparing board and management reports, as well as supporting the Finance Manager with regulatory reporting and control monitoring.

Company: CIC General Insurance (U) Ltd

Number of Positions: 1

Duty Station: Kampala

Primary Responsibilities:

1. Prepare monthly IFRS 17 reporting finance data and work with the actuarial team to validate and ensure accuracy.
2. Prepare IFRS 17-compliant management and statutory financial reports.
3. Prepare IFRS 17 compliance RBS returns.
4. Review the adequacy of operational and financial controls in the business (systems, processes, and people) and recommend changes to management.
5. Review returns to the regulator and other statutory bodies on a monthly, quarterly, and yearly basis.
6. Review the completeness of the asset register and confirm that it aligns with the company’s accounts.
7. Confirm investment in company assets is within the company investment policy statement, as guided by the Insurance Act, and advise the fund management monthly.
8. Review management and financial reports for completeness and preparation of board papers on a monthly and quarterly basis, respectively.
9. Prepare and compile company budgets annually and analyse financial reports and report variance against budget on a monthly basis.
10. Oversee Expenses management, containment, and austerity measures to achieve cost savings of a minimum of 10% and an overall expense ratio of a maximum of 40%.
11. Approve payments and check that all accounting transactions are posted to the correct cost centres.
12. Coordinate external and internal audits.
13. Development, implementation, and review of credit management strategies in line with the overall corporate strategic objectives.
14. Development and implementation of credit management policy.
15. Convening the credit control committee and implementation of the committee’s recommendation
16. Setting a cash target to ensure the collection of outstanding premiums in line with policy provisions
17. Present the debtors’ report and the bad debt provisions report to management.
18. Manage cash flows, control costs, and take action on audit recommendations.
19. Liaise with external stakeholders, e.g., banks, URA, and IRA, towards the enhancement of company operations.
20. Any other duties that may be assigned from time to time.

Generic Duties:

1. Carry out performance appraisal, coaching, and mentoring staffing.
2. Resource allocation, staffing, and leave approval.
3. Participate in planning and budgeting for the department.
4. Participate in various meetings and committees

Academic Qualifications

1. Bachelor’s degree in Accounting, Finance, or Business Administration with a  bias in accounting
2. A master’s degree is an added advantage

Professional Qualifications

1. Professional Qualification, such as; ACCA or CPA a must

Experience

1. Minimum of five (5) years relevant experience, two (2) must have been at a supervisory level.

Essential Knowledge/Skills and Experience Required:

1. Strategic thinker
2. Distinctive analytical skills
3. Superior negotiating skills
4. Excellent communication skills
5. Strong management and leadership skills
6. Relationship management
7. Excellent customer care

Essential Behavioral Competencies:

1. People management
2. Good coaching skills
3. Commercial awareness
4. Strong leadership skills
5. Outstanding cross-functional coordination ability
6. Ability to “constructively dissent”
7. Ability to build strong relationships across the organization

How to Apply:

Submit your application, CV, and copies of your professional and academic certificates as a single document to careers@ug.cicinsurancegroup.com no later than 18th July 2025. 

Please note that only shortlisted candidates will be contacted.

CIC Insurance Values:

CIC Insurance Group is committed to providing excellent service, spurring further growth, and employees are required to align their behavior to the following core values, as critical to driving their performance.

1. Integrity- Be fair and transparent
2. Dynamism- Be passionate and innovative
3. Performance- Be efficient and results-driven
4. Co-operation- Live the Co-operative spirit